Latest / SILVER / GOLD / $UFD Meme Coin Investing & Global Economics / ⚡Petrodollar DEMISE is REAL⚡ (and Forceful), GOLD and SILVER Price

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⚡Petrodollar DEMISE is REAL⚡ (and Forceful), GOLD and SILVER Price · SILVER / GOLD / $UFD Meme Coin Investing & Global Economics

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  The biggest factor affecting the silver price and gold price that
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  nobody is talking about de dollarization, the Petro dollars
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  demise. How will it impact the price of
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  gold and silver as we move into the coming quarters and years?
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  It will have a major impact. A lot of people don't think
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  about it or talk about it because they don't necessarily
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  understand it. I'm going to tell you what's
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  going on right now with China, with Saudi Arabia and the Petro
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  dollar, but more importantly give you an easy to understand
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  explanation to what the Petro dollar is, was and why it's such
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  a big deal. What is the Petro dollar?
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  You are smart enough to understand this, just as the
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  name implies, Petro dollar, Oil dollar.
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  Brief history lesson 1971. President Richard Nixon takes
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  the United States off the gold standard so he could print
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  money. That was only temporary, you
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  know, but it's been 50 years now nonetheless, 1974, they send
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  Kissinger over to Saudi Arabia with the message of we'd really
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  prefer that from now on you only sell oil in dollars.
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  And if you don't go along with us, well, there may be some
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  pretty unfortunate circumstances for you.
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  Needless to say, around 1974, the Saudis and all the Persian
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  area countries agreed to sell oil only in dollars.
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  Big deal, right? Yes, big big deal for a couple
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  reasons #1. Oil is the lifeblood of the
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  world economy. Oil is everything, guys.
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  The biggest market in the world. It's energy.
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  It's plastics. It's thousands and thousands
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  everywhere. Oil is everything.
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  So when oil was only traded in dollars, what resulted was there
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  were a lot of countries that needed it needed dollars.
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  And on top of that when they sold oil, there were a lot of
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  big countries with a lot of dollars and they were confused
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  as to what to do with them. And you know what?
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  the United States government was there to accommodate their each
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  and every need. Because our government said
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  we'll take your dollars back, we'll borrow them from you.
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  And that allowed the United States over the last 50 years to
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  rack up an incredible amount of debt because there were always
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  buyers for the US Treasuries because everybody had a lot of
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  dollars, because that's how everything was traded, was in
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  dollars. So the Petro dollar enabled the
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  United States to run huge deficits.
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  Allowed us to really live beyond our means at the expense of
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  other people throughout the world.
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  Fast forward to today, You know there's major changes going on
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  in the world, including China recently conducting oil
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  transactions in yuan, their native currency.
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  Now that is a big deal because China and Saudi Arabia had been
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  been becoming very, very close. It was a big political coup that
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  occurred over the last year. Remember when President Joe
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  Biden ran over to Saudi Arabia right before the midterm
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  elections to beg them to pump more oil and all he got from
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  MBS, that's the president of Saudi Arabia was a fist pump,
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  right? And then two weeks later,
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  President Xi from China shows up in Saudi Arabia and they have
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  like cavalry horses leading his plane down the down the runway
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  and fighter jets flying over with smoke of the Chinese flag.
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  I mean they gave him like the grand welcome.
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  And after that, it was very interesting.
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  The Saudi Arabians announced that they would start selling
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  oil outside of just the US dollar system.
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  It is a big, big deal because it signifies a major shift in the
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  world financial system. And it's not good news for the
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  United States because right now we find ourselves in a period of
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  time where we need to borrow more money than almost any other
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  time in history. If you're looking to buy gold,
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  silver, or platinum, do yourself a favor and check out Pimbex,
• 4:26
  the online precious metals bullion dealer and sponsor of
• 4:30
  Ron's Basement. I was a happy customer before
• 4:34
  they offered to support the channel.
• 4:36
  You'll find they have the best prices, quality, and service.
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  I think Pembex is best, and you will too.
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  And be sure to tell them that you're from Ron's basement.
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  And just this month, in October, the Chinese announced their
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  first Petro Yuan contract. And it's even more interesting
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  when you understand the Chinese bought oil in Chinese Yuan.
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  But it wasn't just regular Chinese Yuan, it was actually
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  their new CBDC. This demonstrates to us that
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  this whole idea of de dollarization is for real.
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  It's not just a tinfoil hat conspiracy theory.
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  Also consider that almost half of the world's oil reserves are
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  held in these Persian Gulf countries, and right now they
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  supply 30% of the oil to the world first.
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  Mining Gold is a development company advancing 2 of the
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  largest gold. Projects in Canada, Spring Pole
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  in Ontario and Duparque, located.
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  In Quebec, each already has. 5 million ounces of gold reserves
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  but. Exploration initiatives are
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  underway at both. Projects to find even more gold.
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  First, mining is well financed, has zero debt and owns an
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  interest in four additional Canadian Gold development
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  projects. Big deal, right?
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  Yes, this is a big deal, especially for the precious
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  metals on several fronts. Because as this DE dollarization
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  continues, as the Petro dollar continues to fall apart, it will
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  result in the value of the dollar going down.
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  And nothing has been correlated to the price of silver and gold,
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  especially over the last couple years as the value of the
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  dollar, dollar down, silver and gold up.
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  But wait, there's more a bonus factor because we know now that
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  the Chinese are buying oil for yuan.
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  We also know that when the Saudis get that yuan, they can
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  immediately convert it to, yeah, you guessed it, real physical
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  gold. Because not only do they have a
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  separate exchange for the Petro yuan trading, they also have
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  their own exchange for precious metals trading in China called
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  the SGE, the Shanghai Gold Exchange.
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  So when the Saudis get their yuan, they can immediately
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  convert that for real physical gold because the SGE is a real
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  physical market. Oh, and by the way, another
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  little bonus. Isn't it interesting that gold
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  trades almost $100 per oz higher in China?
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  On the SGE, things are changing everywhere.
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  And it's not just oil where we're seeing this shift towards
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  moving away from the dollar in trading in native currencies.
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  Argentina has done some trades with China directly in Chinese
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  Yuan all over the world. It's growing.
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  Yes, the dollar is still dominant, but what we're seeing
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  is an explicit move away from the dollar and two other
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  currencies, primarily the Chinese Yuan.
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  And isn't it also interesting that the Chinese are pushing the
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  use of their CBDC? We know CBD CS are coming and it
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  appears that China is in the forefront in that area as well.
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  It will become very interesting as we move into the next couple
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  years how this impacts many things, right?
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  The ability of the United States government to loan money into
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  Infinity doesn't seem like that's going to be happening to
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  the extent that it did over the last several decades.
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  And again, just at a time when the United States government
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  needs to borrow more money than any other time in history, like
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  $16 trillion in the coming 12 to 18 months alone, it's going to
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  be a wild ride. You know, I'll be here with you
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  for through it all, ups and downs, round and round as the
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  dollar goes through this process and the price of silver and
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  gold, well, hopefully together we're going to watch that go up
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  and up. Thanks for being here.
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  I'll see you soon.