Many are focusing upon the fact that Saudi Arabia is writing contracts outside the USD. This is causing a lot of posts with "the end of the petrodollar" narrative.
In this video I discuss a fundamental flaw in this theory: the petrodollar wasnt real. If we look at the numbers, we can see how that is a small portion of the USD based trading. When we compare it to the repo market, we are looking at a 1000x in size against the oil industry portion that could be affected.
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