Bob Moriarty on the petrodollar system ending
by Gigliola: Bob Moriarty
So the petrodollar system is done, per Bob Moriarty of 321gold, and his reasoning isn't abstract at all. The United States can't put up the protective umbrella anymore, that's the first part. The second is a phone call: MBS reached out to Trump because Houthis were hitting pump stations in Yemen, and asked for military help. Trump's answer was pound sand. Moriarty frames the old arrangement as a protection racket, and the godfather just told them to go pound sand. Hard to read that as anything but the end of the deal
Transcript (en)
The petrodollar system is history for two reasons. One is the United States cannot supply an umbrella to protect them. And the other reason is MBS called Donald Trump Thursday or last Friday when these pumping stations got hit. And the Houthis were acting up in Yemen. And he asked Donald Trump for military support. He said, you're going to like the answer to this. What did Donald Trump tell him? Pound sand. And, of course, that's easy for Saudis to do. They got a lot of sand there. They can pound sand all day long. So this military umbrella, they thought they had this protection racket. The godfather just said, go pound sand. If you enjoyed this, be sure to hit that like button and follow to stay up to date with what's going on in the world and everything else memes and markets. Peace.
