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silver.100
10-24-2013 @ 7:09 PM                          
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Per Bill H. in today's Midas Commentary:

"Saudi Arabia has now cut diplomatic ties with the U.S. http://www.telegraph.co.uk/news/worldnews/middleeast/saudiarabia/103
98057/Saudi-Arabia-in-diplomatic-shift-away-from-old-ally-US.html . This is said to have happened because of our "handling" of the Syria and Iran situation a few weeks back (we did not attack them and thus start WW III)."

I think this is a move by Saudi Arabia for Saudi Arabia to justify accepting other than USDs in trade for their oil. It is a message that the USA broke the deal between Saudi Arabia and the USA whereby the USA guaranteed Saudi Arabia military protection of Saudia Arabia only accepted USDs for their oil and Saudi Arabia recycled those USDs into U.S. treasuries and the U.S. stock markets. It is a statement to the international community that Saudi Arabia did not break the deal but rather the USA did.

If I am correct this will end the petrodollar. This could mean the next leg down for the USD is nigh as: 1) there is no need for foreign nations to buy USDs (to acquire oil), 2) foreign nations currently hold massive amounts of USDs they do not need, and 3) once the run on the USD and U.S. treasuries begins it will be a race to dump them as no one will want to be holding a fast depreciating asset.

The USD and U.S. treasuries will go down hard over the next several years and gold and silver will go up.

albertchampion
10-26-2013 @ 1:11 AM                          
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certainly there is some truth to that analysis.

the real interesting aspect of this is when will the usa and nato invade, seize saudi arabia?

after all, the invasion of iraq was mostly the result of iraq being willing to sell its hydrocarbons directly for euros. avoiding the usd intermediaray transaction.

similarly, the nato/usa invasion of libya was the result of gassafi declaring that libya would accept only gold for its hydrocarbons. no fiat currencies. that insured his assassination. the eec, libya's largest customer hadn't the gold to pay for libya light.

so, now, the saudis are deciding to abandon the dollar as the world reserve currency. hmmm, how long before we decide to invade them?

and of course, we must never forget the role that the saudis played in the events of 11/09/01.

hasn't the time arrived for the usa and the nato countries to invade saudi arabia and seize those declining oil fields?





sparky5
02-12-2014 @ 7:09 AM                          
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  Jim Sinclair agrees with you. As soon as the Petro Dollar goes up in smoke, so will Saudi Arabia. The ground work had been laid for years by the spooks.
  Alleged ties to all sorts of anti social acts by Saudi citizens.

Baselisk
02-24-2014 @ 10:46 AM                          
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I agree the days of the House of Saud may well be numbered. I see the risk is more from the Russians or maybe militant Arab orgs. than from the US. I see only one way that their continued survival may be possible is for them to team up with China as soon as they can.
PS. On second thoughts I suppose the main risk from the US is if the Saudis have stored any of their gold in the country. Then an attack á la Libya may well be on the cards.

This message was edited by Baselisk on 2-24-14 @ 10:50 AM



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