Flashback June 8, 1974

Based on mutual interests, the US under Richard Nixon ;and Saudi Arabia under King Faisal and Prince Fahd made a deal. In exchange for weapon sales and other security arrangements to the kingdom ,the Saudis would sell their oil in US dollars . That was a big deal

Memoranda of Conversation: June 6, 1974 - Nixon, Kissinger, Prince Fahd of Saudi Arabia (fordlibrarymuseum.gov)

‘MILESTONE’ PACT IS SIGNED BY U.S. AND SAUDI ARABIA - The New York Times (nytimes.com)

This ended a period where the US was vulnerable to oil being used as a weapon against us. This agreement led to other countries following suit, making the US dollar the only currency used to purchase oil in the global market. As oil is the world’s most traded commodity, this gave the US an enormous economic advantage .The dollar became the exchange currency of the world . US's global position was secured .Every nation needed US dollars $$$$$$ to buy oil .

From then until now the petrodollar has financed the US lifestyle .It made the reckless US borrow and spend policies possible . We could spend like drunken sailors (ooops that was a clear insult to sailors. I meant drunken Democrats ) It created a whole lot of fake demand for dollars.

Then we elected Clueless Joe. He entered office with a bug up his butt about Saudi Prince bin Salman(MBS). The Prince had Jamal Khashoggi ;a terrorist sympathizing journalist for the Compost (where terrorists go to get writing jobs) murdered .

Joe threatened the Prince . In response the Saudis began cutting production and leading other OPEC nations to follow suit . That combined with Joe's sabotaging domestic production has caused prices to soar since he was elected

Joe loves blaming Russia ;the oil industry for the price rises . But he is mostly to blame. Of course high prices is in Russia's interest . But Russia alone could not impact the global price without Saudi Arabia leading the charge.

Did you hear that Saudi Arabia officially let the petrodollar agreement formally end this week ? Probably not if you don't read the financial reports or international news sources . Very few in the compliant press are reporting the expected impact.

China has now replaced the US as the Saudi's top trading partner . Saudi Arabia joined BRICS this year .
Saudi Arabia officially joins BRICS bloc - state TV | Reuters


This video gives a good summary of the implications of the Saudis ending the petrodollar agreement.


BRICS Officially END The Petrodollar: What next? - YouTube

This is our road to Weimar Republic. This is our road to 3rd world hyper inflation

A significant piece of our ability to print monopoly bucks has been severed .
It's a high price for us to pay for Joe's insults to the Prince

The only question is did Joe and the Dems deliberately knee cap the US economy or is this the realization of the unintended consequences of their quasi-Marxist socialist policies ?


The only good news is that despite the Dems hatred for the domestic oil market ,we are still the number 1 oil exporting nation. As I mentioned in another post our only hope is a combination of fiscal discipline and growth through development of new technologies and DRILL BABY DRILL !!!

A second Joe term will cement their blocking of oil leases.

Biden blocks oil drilling on 10M acres in Alaska, including leases Trump sold - POLITICO

Biden Attacks the Oil and Gas Industry, Removing Public Lands from Development, Raising Production Costs and Cutting Back on Land Offered at Auction - IER (instituteforenergyresearch.org)

A second term will make permanent the green new steal .