Riyadh denied the Bloomberg report, saying it did not threaten to sell euro and French bonds as a way to influence the G7 into not seizing $280 billion of Russia’s frozen assets.
If the Saudis disinvested from the dollar and started selling oil in yuan, it would severely weaken US soft power around the world. At the same time, seizing the assets would remove a bargaining chip from potential peace talks. And those assets likely wouldn’t be enough for Ukraine to win anyway.
Turns out when you steal other countries’ assets (as with Venezuela), other countries stop trusting you with their money and start trusting other countries (like China) with it instead. If they wanna speedrun losing a second cold war, that’s the way to go.
the global market has decided that your whataboutisms are wrong. theres no currency on earth that is more reliable than the USD. it’s FAR from perfect to be fair, but it sets the bar.
when there is a stablecoin that is worth trillions of dollars, things might change.
If the Saudis disinvested from the dollar and started selling oil in yuan, it would severely weaken US soft power around the world. At the same time, seizing the assets would remove a bargaining chip from potential peace talks. And those assets likely wouldn’t be enough for Ukraine to win anyway.
Turns out when you steal other countries’ assets (as with Venezuela), other countries stop trusting you with their money and start trusting other countries (like China) with it instead. If they wanna speedrun losing a second cold war, that’s the way to go.
Lol no one is trusting China and their heavily manipulated currency
Tell that to the countries participating in the BRI.
You think the USD isn’t manipulated?
the global market has decided that your whataboutisms are wrong. theres no currency on earth that is more reliable than the USD. it’s FAR from perfect to be fair, but it sets the bar.
when there is a stablecoin that is worth trillions of dollars, things might change.
Ok buddy.
Just FYI? It’s not a whataboutism when you’re already directly comparing two things. That’s just how comparisons work.