Say hello to the new world reserve currency

OfTheCross

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Keeping my overhead low, and my understand high
I think you guys should take note of this video. If this is true, then the US dollar is going to take a very serious hit.


:russell:

Imagine thinking every currency on Earth is worthless because it's not the reserve currency.

It's nice to be the one.. but we'll be fine either way.

Just like every other major power currently is fine, even tho they're not the #1 reserve currency
 

Hood Critic

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SA riyal is pegged to the US dollar, so hurting the dollar ultimately hurts their own currency. There are advantages to being the worlds oil dealer but there are disadvantages when 90% of your economy hangs in the balance depend on oil sales.

MBS could hurt the US dollar short term but he'd be ultimately playing himself long term.
 

Json

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SA can’t even run their own oilfields. Not that population couldn’t but the ruling class doesn’t want internal wealth they don’t control.

Pinning the reserve currency to a finite resource in country of limited growth ain’t happening.
 

Alix217

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Not gonna happen. Certain payments from certain foreign countries like China might happen in different currencies, but the Saudis are way too invested in the US to ever swap currencies. It would hurt them.
 
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