Economy / FinanceRomeo Full Staff

Deepin Moments: Saudi Arabia Unites 23 Countries to Restore Gold-Dollar

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Deepin Moments Dec 10, 2022 The petrodollar has collapsed, and the fundamental reason is that while the world’s two largest oil producers, Saudi Arabia and Russia, are moving away from the dollar, a number of OPEC+ oil producers are also rising up against it. In a new development, U.S. financial website Zero Hedge analyzed on Dec. 7 that when Russia introduces a gold and oil-linked currency settlement, or “petro-gold” is being introduced, it means that global buyers of oil from Russia can directly bypass the dollar and use gold or paper gold to settle with Russian oil companies instead. SettlementShow…

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