Petrodollar COLLAPSING With New China Deals | Breaking Points

Krystal and Saagar discuss how China is making big moves to break the dominance of the US dollar on the world stage.

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  1. A few years ago there was a global survey conducted in every country asking people which nation they thought was the biggest threat to world peace. In the US and Canada, the majority of people thought it was some Muslim country or other (Iraq or Iran or something like that). In literally every other country in the world, people thought it was the US. THIS is what the rest of the world "sees differently," not the Ukraine crisis in particular. What people think of Ukraine and Russia is but a consequence of that.

  2. They have been working towards this for a while. You can say we expedited it but China and Russia have been on the same page regarding this for a while. We didn't sacrifice anything, if anything we used it before it became powerless in the next 10 years regardless.

  3. If the Chinese want to subsidize a global financial system at a huge net loss every year, I'd say let them. The Yuan is not supported by the market. It will collapse at the first recession and have to be backed by China's Dollars. Which, just means we're back to being the world's overwhelmingly dominant exchange currency.

  4. China has tried this in the past multiple times and it did not work because the CCP will never let the Yuan 'float freely' i.e. show its real market value because it would wreck their export based economy. As far as I can tell the fundamentals have not changed so I will not hold my breath on the idea of the US dollar being completely replaced as the world reserve currency any time soon.

  5. I agree with you guys I always have for the most part- As it pertains specifically to Saudi Arabia and the middle finger After we are underwriting you know XYZ for their wealth I think the issue isn't always was that nothing we did for them was in good faith And so if they took the money it may be more on the side of the US being bad actors and so take their money with complete disregard for any morality implied because it was more from the get-go so I think that's why morality and good faith matters.

  6. Countries are worried about a weaponized US dollar, so they look to the CCP to be a more just and fair arbiter of financial transactions? Anyone who thinks that China won't use the same tricks once they've amassed enough market share is silly. You reap what you sow. Good luck.

  7. If the dollar loses its power as the currency of international exchange and the reserve currency of the world, its going to bring a world of economic hurt on the United States. The world has been willing to subsidize the whims of the United States trading goods and services for dollars they keep in reserve and use to buy oil, etc. Very very bad news for Americans, prepare to get poorer.

  8. Whoever voted for the people responsible for allowing the Greatness of America be taken away are to blame for all of this stupidity. Kids be aware of global issues bigger than your little bubble, Old people forget about your old ways of negotiation and Middle age people….. bring everyone else on the ride if you can.

  9. 11:37 that's THE MAIN POINT. The US makes its decisions on behalf of dominant industry concern.

    Our Dollar has been propped up by the Petro for so long as we sold the NATIONS real economy out for the interests of individual capitalists. The check is coming due and I wish it were going to be Bourn by the class that has destroyed our country instead of the victims of that greed

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