🚨🚨 Alert 🚨🚨
Recent reports reveal that Saudi Arabia has informed the Biden administration of its decision to not renew the petrodollar agreement, causing significant concern in the United States. This decision could potentially reshape the global financial landscape in profound ways.
One immediate consequence might be increased volatility in stablecoins pegged to the US dollar, such as USDT and USDC. Investors may start shifting their assets from these dollar-pegged stablecoins to Bitcoin, and also show a growing preference for gold and silver on a global scale. The recent uptick in gold purchases by China could indicate their preparation for major economic changes on the horizon.
While these shifts are unlikely to occur overnight, it is crucial to monitor market reactions starting Monday and in the weeks ahead. Many international contracts are still denominated in US dollars, so the full impact may take some time to unfold and might not be as sudden as some have anticipated. However, the conclusion of this 50-year agreement will undoubtedly lead to significant changes in the global economic order. Stay informed and watch how these developments play out in the near future.
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