reply on: Fed's December rate cut looks increasingly like a toss-up \ stacker news ~econ

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0 sats \ 0 replies \ @Solomonsatoshi 13h \ parent \ on: Fed's December rate cut looks increasingly like a toss-up econ

The petrodollar is not what it used to be. There was a time when getting preferential access to USTs could persuade Saudis to only sell oil for dollars via SWIFT. Today they have joined BRICS and mBridge and sell most of their oil to China.