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Goldman Admits Saudi-China Oil-Trade Signals 'Erosion' Of Dollar Reserve Status

 
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03/21/2022 06:20 PM

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Goldman Admits Saudi-China Oil-Trade Signals 'Erosion' Of Dollar Reserve Status
It won't be long now....

(ZeroHedge) Following The Wall Street Journal's recent report that Saudi Arabia is considering pricing some of its oil sales to China in Yuan, the question of the dollar's status as global reserve currency has bubbled back to 'top of mind' for many longer-term investors.

As Goldman Sachs' Farouk Soussa notes in a report today, these steps are not entirely surprising: over time, currency choice tends to be driven in part by economic ties and partly by geopolitical alliances, and China has become a more important economic partner as its economy develops and imports more oil, while at the same time geopolitical developments perhaps demonstrate the attractiveness of a more diversified currency set.

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03/21/2022 06:28 PM
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Re: Goldman Admits Saudi-China Oil-Trade Signals 'Erosion' Of Dollar Reserve Status
Not erosion

The end
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03/21/2022 06:43 PM
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Re: Goldman Admits Saudi-China Oil-Trade Signals 'Erosion' Of Dollar Reserve Status
Joe Biden’s staff doesn’t care if the USA is destroyed as long as Israel is protected
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03/21/2022 07:23 PM
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Re: Goldman Admits Saudi-China Oil-Trade Signals 'Erosion' Of Dollar Reserve Status
Ever heard TAPS played at a funeral?

I hear it playing in the background now whenever any yahoo in Congress, or who hangs around the White House, talks about using the dollar to punish countries.





GLP