Is there is a banking crisis about to hit? Evidence is building that this is true.
The U.S. has enjoyed 50 years of fiat currency. As more countries have moved away from the “petrodollar” including Russia who has now been dropped from being allowed to sell oil to the U.S., the fiat currency is losing steam… fast!
Without even pausing, the Biden Administration declared total economic war on a sovereign country (Russia). With no meaningful public debate or congressional authorization, Biden destroyed the country’s currency and have removed it from the international banking system.
These are the pillars that have helped protect the U.S. dollar and there is now nothing left to support it’s value.
The U.S. has printed about 10 Trillion dollars in the last two years, which has helped to devalue the dollar and a collapse is now appearing imminent.
With God Nothing is Impossible!
Get Prepared! Hold tight. Stock up on long life essentials and prepare for supply chain shortages and power failures! Jesus warned us that just as it was in the days of Noah, so shall it be in the last days….and the Lord told Noah “Also take with you every kind of food that is edible and store it, and it shall be food for you and for them” (Genesis 6:21 AMP).
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A ‘Petroyuan’ Could Further Shake the Dollar’s Dominance
In the latest sign the dollar-centric global financial system is under immense strain, China and Saudi Arabia have “accelerated” ongoing talks to price oil contracts in yuan instead of greenbacks, according to a Wall Street Journal report.
The dollar’s ongoing steady decline as a global trading and reserve instrument has significant implications for the U.S. economy, and could make neutral or non-state monetary networks more useful to a wider range of actors.
China is trying very hard to maintain stability in its yuan but it is far from a reserve currency, let alone a transparent one. If Saudi Arabia were to go through with this, it would mark a significant step away from historical allegiances and the U.S. dollar/SWIFT system would be done. Commodities as we know it, will cease to exist the way we have known for the past 50 years, with correlations breaking down as the dollar will cease to be its driving force. Perhaps a slow move to a basket of select currencies like euro, yen, yuan, and others would be a more suitable alternative to trade oil and commodities. But make no mistake, the wheels of change are already set in motion. Covid and Ukraine have just brought that time line closer to the dollar’s ultimate demise.
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