H/t reader squodgy:
“Just another hint that the process to dump the dollar is definitely in play…Saudi is bleeding with this low oil price, but if it cuts the umbilical to the dollar the bleeding should stop. As usual we’ll have to wait and see what the Rothschilds & Rockefellers tell them to do, but from the article above, it’s on the cards anyway.”
– Cut Oil Supply or Drop Riyal Peg? Saudis Face ‘Critical’ Choice:
The longer oil languishes, the more pressure builds on Saudi Arabia to abandon its currency peg.
Contracts used to speculate on the riyal’s exchange rate in the next 12 months jumped to a 13-year high on Monday. That reflects growing bets for the currency to weaken for the first time in almost three decades, even after Saudi Arabia said it’s ready to cooperate with other oil producers to stabilize prices.
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