Democrats Break The Dollar?
This is not a good sign.
What a lot of voters don’t seem to understand is that when we elect a president, we elect someone who other world leaders will have to deal with as well.
Now, with President Biden in office, Saudi Arabia is looking to replace the United States dollar which could be disastrous for the United States economy.
According to Breitbart, Saudi Arabian Finance Minister Mohammed al-Jadaan stated that the country is now open to considering alternatives to the U.S. dollar for international trade.
Saudi Arabia’s currency has been attached to the U.S. Dollar since 1986. This resulted in the creation of the “petrodollar” which has benefitted both the United States and Saudi Arabia greatly.
Decoupling Saudi Arabia’s money from the U.S. Dollar would be a massive change for both the United States and Saudi Arabia especially when it comes to the global oil market.
“There are no issues with discussing how we settle our trade arrangements, whether it is in the U.S. dollar, whether it is the euro, whether it is the Saudi riyal. I don’t think we are waving away or ruling out any discussion that will help improve the trade around the world,” al-Jadaan stated.
It appears that thanks to Biden the Saudis are now trying to develop economic flexibility so they can develop stronger relationships with other partners such as China.
“We enjoy a very strategic relationship with China and we enjoy that same strategic relationship with other nations including the U.S. and we want to develop that with Europe and other countries who are willing and able to work with us,” he added.
