Saudi Arabia to Drop the Dollar? | Possible End to Petrodollar Pact After 50 Years | The Gold Spot

This week, news broke that Saudi Arabia ended the petrodollar system after nearly half a century. According to media reports, Mohammed bin Salman refused to renew the agreement, which if true, could deal a mammoth blow to dollar dominance. This potential shift would have extensive ramifications for global economics.

This comes as the Saudis ramp up economic ties with China. The Kingdom has been steadily increasing its trading with the CCP while moving away from dependence on USD. Saudi Arabia signaled this transition when it joined the growing BRICS cohort.

This group is leading the de-dollarization charge by expanding its membership and pushing for its own BRICS currency. As the ringleader, China has been pushing for the petroyuan. If the petrodollar were to fall, this would be more possible than ever.

The US dollar's position as the world reserve currency has never been more threatened. American investors are in a position to bear the brunt of this possible change as a drop in dollar demand would ultimately lead to #inflation and devaluation.

Watch this week’s The Gold Spot to hear Scottsdale Bullion & Coin Sr. Precious Metals Advisor Damian White and Precious Metals Advisor Todd Graf discuss the news reports, how the dollar could suffer, and how investors can best protect their wealth now.

👉 READ MORE HERE: https://www.sbcgold.com/blog/saudi-arabia-to-ditch-dollar-end-to-petrodollar-pact-after-50-years/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_06122024

👉 Grab a FREE COPY of our Petrodollar Report here: https://www.sbcgold.com/petrodollar-report/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_06122024

⭐ RELATED READING:

🔗 What Is The Petrodollar System?: https://www.sbcgold.com/blog/what-is-the-petrodollar-system/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_06122024

🔗 The Gold Standard: Everything You Need to Know: https://www.sbcgold.com/blog/the-gold-standard-everything-you-need-to-know/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_06122024

🔗 De-Dollarization 101: What to Know About the Global Shift Away From the Dollar: https://www.sbcgold.com/blog/de-dollarization-101-what-to-know-about-the-global-shift-away-from-the-dollar/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_06122024

🔗 BRICS Currency: What It Is & What It Means for Investors: https://www.sbcgold.com/blog/brics-currency-what-it-is-what-it-means-for-investors/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_06122024

⭐ @sbcgold Precious Metals Advisors in this The Gold Spot video:

👤 Damian White: https://www.sbcgold.com/about/damian-white/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_06122024

👤 Todd Graf: https://www.sbcgold.com/about/todd-graf/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_06122024