ECONOMIC WARFARE: UAE Ditches The “Petro-Dollar” For Oil Trades, Crisis Incoming?

ECONOMIC WARFARE: UAE Ditches The “Petro-Dollar” For Oil Trades, Crisis Incoming?

Folks, this is very serious….

The “Petrodollar” is what has led to such incredible prosperity here in America for the past 50 years.

Unprecedented prosperity!

A way of life and a quality of life that is rarely seen elsewhere in the world and definitely rarely seen elsewhere in history.

More on that in a minute if you don’t fully understand what I’m talking about….I’ll explain it in a really easy to understand way in just a bit, but here’s a quick breakdown:

Impact of “Petro-Dollar” on Quality of Life in the USA:

1. Economic Stability: The strength of the dollar helps ensure economic stability in the U.S., contributing to a stable and predictable economic environment.
2. Lower Borrowing Costs: The demand for U.S. dollars and government securities often results in lower borrowing costs for the U.S. government and, by extension, for American businesses and consumers.
3. Purchasing Power: A strong dollar enhances the purchasing power of U.S. consumers, making imports and foreign travel more affordable.
4. Inflation Control: The petrodollar helps in controlling inflation to a certain extent. A strong dollar usually means lower import prices, which can help keep inflation in check.
5. Investment in U.S. Assets: Foreign demand for U.S. dollars often translates into investment in U.S. assets, including treasury bonds, stocks, and real estate, supporting these markets.
6. Global Economic Ties: The U.S.’s central role in global finance fosters deeper economic ties with other nations, which can lead to more stable and prosperous international relations.

But first, here’s the very alarming breaking news:

UAE OFFICIALLY STOPS USING DOLLAR FOR OIL TRADES!!! •The United Arab Emirates (UAE) has shifted from using the US dollar to local currencies in its oil trades. •This move aligns with the broader de-dollarization efforts of the BRICS economic alliance, which the UAE recently

UAE ditches US dollar for local currencies in oil trades, aligning with BRICS's de-dollarization drive. This strategic pivot, part of the UAE's recent BRICS membership, challenges dollar dominance in global oil markets. The move, signaling UAE's strengthened position…

Here’s what WatcherGuru reported:

BRICS is looking to topple the U.S. dollar global reserve status by controlling a major portion of the oil sector. In the first instance, Russia’s third-largest oil exporting firm ‘Gazprom Neft‘ announced that the company is ending its reliance on the U.S. dollar. The oil exporter will not be accepting the U.S. dollar for trade and is open to accepting local currencies. The Russian firm is the first oil company to publicly announce cutting ties with the U.S. dollar for cross-border transactions.

The move comes after BRICS members India and the UAE settled oil trade in the rupee and not the dollar. Additionally, Saudi Arabia has also expressed that the Kingdom is open to accepting local currencies for oil exports. The development puts pressure on the U.S. dollar, as the greenback will find it challenging to fund its deficit.

And from Cyptopolitan:

The global financial landscape is witnessing a seismic shift as the United Arab Emirates (UAE) boldly moves away from the US dollar in its oil trade dealings.

This strategic pivot aligns with the broader ambitions of the BRICS economic alliance, of which the UAE is a recent addition.

The changeover, involving the transition to local currencies for oil transactions, marks a significant departure from the long-established dollar dominance in the global oil market.

The BRICS Influence and UAE’s Strategic Shift

The BRICS bloc, comprising Brazil, Russia, India, China, and South Africa, recently expanded its membership to include the UAE, along with Saudi Arabia, Egypt, Ethiopia, Iran, and Argentina.

This expansion signifies a growing inclination towards de-dollarization among these nations, a move that challenges the traditional hegemony of the US dollar in international trade.

The UAE’s decision to prioritize local currency over the US dollar in new oil deals is a clear reflection of this sentiment. This move isn’t just a mere policy shift; it’s a strategic maneuver in the complex chess game of global economics.

By aligning with the BRICS nations, the UAE is not only diversifying its economic partnerships but also reinforcing its position as a global oil powerhouse.

This change could potentially reshuffle the cards in the international oil trade, impacting the dollar’s stronghold and introducing a new era of currency dynamics in oil transactions.

More...