An Economic Collapse Far Worse Than Great Depression If USD loses Reserve Status: Peter Zeihan
“When the only country saying that is Russia, then you know it’s not serious. And that’s exactly where we are right now,” says Peter Zeihan, geopolitical expert. He says China would need to internationalize its tightly controlled financial sector for BRICS to challenge the global order, which is a huge hurdle. Zeihan also dismisses the headlines about Saudi Arabia ditching the petrodollar, explaining that oil trades in non-U.S. dollars are minimal and lack long-term contracts. He emphasizes that Saudi Arabia’s financial moves are driven by security concerns, requiring a nation with a strong navy and ground presence in the Persian Gulf. “There is no country out there that has the fiscal depth or the liquidity necessary. There’s no coalition of countries to replace the US dollar,” he concludes.
Credit to : ITM TRADING, INC.