{"id":64777,"date":"2023-01-18T13:21:16","date_gmt":"2023-01-18T18:21:16","guid":{"rendered":"https:\/\/olduvai.ca\/?p=64777"},"modified":"2023-01-18T13:21:16","modified_gmt":"2023-01-18T18:21:16","slug":"poszar-was-right-saudis-confirm-non-dollar-oil-trade-plans-in-davos","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=64777","title":{"rendered":"Poszar Was Right: Saudis Confirm Non-Dollar Oil Trade Plans In Davos"},"content":{"rendered":"
\n

Poszar Was Right: Saudis Confirm Non-Dollar Oil Trade Plans In Davos<\/a><\/h3>\n<\/header>\n
\n
\n

Earlier this month, former NY Fed repo guru Zoltan Pozsar\u00a0wrote one of his most important reports of 2022<\/a>, in which he described how Putin could unleash hell on the Western financial system by\u00a0demanding that instead of dollars, Russian oil exporters are paid in gold<\/strong>, effectively pegging oil to gold and launching Petrogold.<\/p>\n

\"\"<\/picture><\/a><\/p>\n

Then,\u00a0China’s President Xi visit with Saudi and GCC leaders marked the birth of the petroyuan<\/a>\u00a0and a leap in China\u2019s growing encumbrance of OPEC+\u2019s oil and gas reserves: that’s because with the China-GCC Summit,\u00a0“China can now claim to have built a ‘special relationship’ not only with the ‘+’ sign in OPEC+ (Russia), but with Iran and all of OPEC+.”<\/strong><\/em><\/p>\n

At the time, Zoltan urged the reader to think of the timing of this statement in a diplomatic sense:<\/p>\n

“President Xi communicated his message on \u201crenminbi invoicing\u201d not during the first day of his visit \u2013 when he met only the Saudi leadership \u2013\u00a0but during the second day of his visit\u00a0<\/strong>\u2013 when he met the leadership of all the GCC countries \u2013 to signal the following:<\/em><\/p>\n

GCC oil flowing East + renminbi invoicing = the dawn of the petroyuan.<\/strong>“<\/em><\/p><\/blockquote>\n

\"\"<\/picture><\/a><\/p>\n

And now,\u00a0according to Bloomberg<\/a>, Saudi Arabia is open to discussions about trade in currencies other than the US dollar, according to the kingdom\u2019s finance minister.<\/p>\n

\u201cThere are\u00a0no issues with discussing how we settle our trade arrangements, whether it is in the US dollar, whether it is the euro, whether it is the Saudi riyal,<\/strong>\u201d Mohammed Al-Jadaan told Bloomberg TV on Tuesday in an interview in Davos.<\/em><\/p>\n

\u201cI don\u2019t think we are waving away or ruling out any discussion that will help improve the trade around the world,\u201d Al-Jadaan said.<\/em><\/p><\/blockquote>\n

And echoing Poszar’s comments above, Al-Jadaan appeared to confirm The Kingdom’s goal seeking to strengthen its relationship with crucial trade partners, most notably China:<\/p>\n

\u2026click on the above link to read the rest\u2026<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Poszar Was Right: Saudis Confirm Non-Dollar Oil Trade Plans In Davos Earlier this month, former NY Fed repo guru Zoltan Pozsar\u00a0wrote one of his most important reports of 2022, in which he described how Putin could unleash hell on the Western financial system by\u00a0demanding that instead of dollars, Russian oil exporters are paid in gold, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3,5],"tags":[130,193,10888,25704,626,6466,701,5482,4318,32759],"class_list":["post-64777","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","category-geopolitics","tag-china","tag-davos","tag-oil-trade","tag-opec-2","tag-petrodollar","tag-petroyuan","tag-saudi-arabia","tag-world-reserve-currency","tag-zerohedge","tag-zoltan-poszar"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64777","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=64777"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64777\/revisions"}],"predecessor-version":[{"id":64778,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/64777\/revisions\/64778"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}