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Saudi Arabis recently decided not to renew its 50-year-old petrodollar agreement with the US. There are two views of what the petrodollar agreement is and what the latest move by Saudi Arabia means. This video explains the history of the petrodollar system and how it started after the end of the Bretton Woods system or the gold standard system was abandoned by the US. The benefits gained by the US with the Petrodollar system and how the US dollar became a world reserve currency are also discussed. The latest decision of Saudi Arabia regarding the petrodollar agreement is discussed in detail. This move to end the petrodollar system is a part of the ongoing de-dollarization move across the world. The process and reasons for de-dollarization are also discussed in this video. The video also discussed the proposed BRICS payments system and project mbridge
payment system.
Timeline
00:00 - Introduction
02:06 - History of Petrodollar
11:01 - Curernt decision by Saudi
12:42 - Why did Saudi ditch the petrodollar?
14:17 - De-Dollarization
15:04 - Irresponsible Printing of US Dollars
17:18 - Weaponisation of US Dollars
19:28 - Current Trade Situation
20:16 - BRICS
21:44 - Project MBridge
#petrodollar #saudinews #dedollarization
alexplain is a Malayalam channel where must-know things around the world are explained in the simplest way possible. The videos cover topics like things to know about India, recent current affairs, explanations on politics, economics, history, science, and technology, etc. The videos in this channel will help you gain knowledge of different things around us.
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