MikeCristo8
@MikeCristo8
The dollar no longer drives oil prices.
US TREASURY SECRETARY YELLEN: WE WANT TO MAKE SURE THAT OIL MARKETS ARE WELL SUPPLIED IN CONSIDERING FURTHER SANCTIONS.
— FinancialJuice (@financialjuice) October 22, 2024
The end of the dollar.
P***n orders BRICS NDB Bank to facilitate trade between members with national currencies pic.twitter.com/ulk4W9wBAX
— Ignorance, the root and stem of all evil (@ivan_8848) October 22, 2024
The dollar was basically a third party settlement currency because the U.S. dollar controlled the exchange rate of foreign currencies.
If countries ditch the dollar then there is no reason to have an exchange rate.
Because countries are now settling their commodities trade in their own currencies.
There is $100 trillion in off shore dollars being repatriated back to the U.S. Treasury.
