Comments by "bighand69" (@bighands69) on "Saudi Arabia considers ditching the dollar for Chinese oil sales" video.

  1. House of Saud is free to choose their own masters if they want but need to realize the reason they exist is because the US backed them. Do people really think China will protect and guarantee Saudi Arabia?
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  2. The US is not world reserve currency because it befits the US. The reason it is world reserve currency is because it is stable and very deep financial roots. The US currency is backed by thousands of trillions of US assets and a gold reserve that is larger than China, Russia and Saudi Arabia combined. If the US was to give up its reserve currency status it would actually benefit the US as it would refocus its wealth internally. Prior to the US being considered world reserve currency the Bretton Woods agreement was fully funded by the US.
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  3. That is the other countries loss not the US.
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  4. Many do not understand that the world cannot function without the US dollar. Countries that try to go it alone will find that it is lot tougher than they think. Saudi culture needs to be careful it does not get labelled as being involved in terrorism because that could do real damage to their brand. All that fancy military equipment Saudi gets is not a guarantee and could easily be stopped.
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  5. China is not going to be able to offer protection to Saudi Arabia in the middle east. They will not sell them cheap high technology defensive weapons nor will they be able to offer them financial services that are anywhere near as developed as the US. Saudi Arabia needs to take its next step really slowly and with it being fully thought out.
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  6. That is pure nonsense. The reason why the US is the world reserve currency is because it is a stable economic system. Being the world reserve currency does not benefit the US it benefits everybody else. Because it means they can trade in a currency value that holds and is secure. The US debt ceiling has nothing to do with the US dollar.
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  7. Saudi Arabia is thinking short term if it goes in this direction. The next time there is a sponsor attack against the Saudi culture there might be no big brother USA there to support and protect. If Saudi thinks that China will protect it then they might be in for a shock.
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  8. If countries want to do that then they will need to chose free market economics and liberty but I cannot see those countries doing that.
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  9. The house of Saud would not exist if it was not for US support. Saudi Arabia needs to choose its next steps very carefully. China is not the winning horse that people think it is.
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  10. What the prince may not realize is that the House of Saud only exists because the US backs it. Saudi Arabia is free to use cheap military junk from other countries. The 250 US fighter jets are not a guarantee and are a privilege and neither are US air defence systems.
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  11.  @ocean4lifem8  Countries sometimes do things that they think will give them a better deal. Just because America in their eyes looks weak does not mean that it is. If they choose China they will be stuck with that then.
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  12.  @davidferrari7543  I am afraid to tell you China leads nothing.
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  13. Is Saudi Arabia wants to give up its US protection and stable US economic engine for short term gains then that is the choice of House of Saud. When WW3 happens and there is a need for that fancy US military technology only countries that are deemed secure will get access to that equipment. Counties are free to develop their own arms industries and can invest trillions in that if they desire.
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  14. Good luck to those countries taking such an enormous risk with their economic stability.
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  15.  @PlaYer-sn5or  Without the west the world would be a stone age culture.
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  16. The UK is not a superpower because it has chosen not to be one. If the UK tomorrow decided to become one again it will be extremely powerful.
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  17. The China's strategy is a mistake. The USD being the international currency of trade benefits everybody else not the US. Try trading in native currency to the Yuan or Ruple is not going to be a pleasant experience.
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  18.  @TheMDHoover  Financial services that the US gives the world gives them access to banking that they would not otherwise have. The US dollar is based on the strength of the US economy as a whole. If people think the US economy is just going to go to the moon and that is it they are mistaken.
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  19. They maybe come Brandon if they are not careful. US equipment and economic support is not guaranteed.
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  20. Unless they decide to start attacking the US like other countries did they have no fear of that but they will have to fear their economic decisions though.
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  21.  @3sc4p1sm  Just makes stuff up.
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  22. @Ze TheGame US agri assets alone is worth about $20 trillion (915 million acres at $4500 per acre), US naval assets are in excess of a trillion. Total land value in the US comes in about $70 trillion. Commercial real estate in America comes in about 20 trillion. I am only giving you a small indication of the total assets available within America. Your 90 trillion of US assets makes no sense on any level. The total market cap in America is about 50 trillion which is over half the world market cap.
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  23.  @V8_screw_electric_cars  No they take part in the US market place and as such it helps the overall economy.
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  24. I suspect it is idle threats as well and probably has to do with the Biden administration right now negotiating with Iran which has Saudi Arabia very concerned. That $90 billion that the US might give Iran will probably be used to attack Saudi Arabia.
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  25. @يوووو US is worth thousands of trillions in assets.
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  26. You think the US export the currency? The US pays a massive price for their currency to be used as a global trading medium. It does not help the US at all other than to provide global stability.
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  27. I think you might be in for a rude awakening if you think that the USD benefits from being a world trade currency. The reason countries use it is due to the US economic engine and stability.
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  28. The India economy is massive dependent on western industries.
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  29. When the US has weak leadership countries think they can take advantage but all they will do is damage them self.
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  30. That is pure nonsense and you know that to be the case. Iraq sealed its own demise with its behavior.
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  31. Both countries have their own oil reserves and could function well without other oil.
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  32. US sanctions have nothing to do with the dollar. The US economic engine is the reason why sanctions can be easily developed. Things like chemicals, electronics, mechanical systems are all based on US innovation. The reason the US did all of that is because its culture is built on the free market and liberty and it is the reason why the US went from being the world's poorest economy to be the world's largest and most powerful.
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  33. It is not the first time that these sorts of things have happened and not the last either. Saudi Arabia needs to think things out long term would they rather be in league with the US or in league with the East.
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  34.  @PropagandasaurusRex  There has been periods of international crisis before. Do not act as if it is new.
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  35.  @johnlay3040  The House of Saud would not exist without the US and Saudi Arabia could not defend its airspace without US technology. They can either have what they know or go for something new but there is going back and try again.
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  36. In economic terms that would be better for the US as they would not have to use as many resources to prop up a world trade system. The danger is that it destabilizes the world economic regions and causes chaos.
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  37.  @nigelhendrikz2706  Foreign countries do not buy US debt they buy US investments. The US market can easily sustain internal bond issues if it desires. People keep repeating default as if it means something.
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  38. You are living in a fantasy if you believe all of that. The US is not the world reserve currency because it benefits the US. It is the world reserve currency because the US economic engine is strong and stable. The US has the largest single consumer market in the world with the largest industrial output. The US engine is so powerful that it rebuilt Germany, Britain and Japan after WW2. It is also that strength that allowed China and Russia to develop their economies over the last 30 years. The west accounts for almost 50% of Chinese economic activity with the US being almost 30% of that economic activity.
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  39. You are living in a fantasy and trying really hard to convince yourself .
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  40. WIthout the USD as a international standard there is going to be rough times ahead for many countries.
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  41. The amount of nonsense conspiracy theories are just insane.
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  42. You are just talking nonsenses.
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  43.  @sanynava  The US is not an empire and people have mistaken US internationally policy with being an empire. Many countries simply are too lazy to form their own defence so they expect the US to do it for them. The only reason the US dollar is used as a reserve currency at the international level is because there are no no alternatives.
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  44. Empire? The US does not hold regions or countries so it cannot be an empire. The US dollar being world reserve currency benefits the world more than the US.
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  45. The US is more or less energy independent but it is involved in large scale energy trading.
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  46. The green agenda is fake and will not hold up in the short term. Engineering and innovation over the long term will win but not short term government policies.
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  47. Iraq is free to do as it pleases with its low GDP.
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