But no one but us bloggers noticed.
Sometimes being right before everyone else has that smug bit of satisfaction, then again, it also creates the pain of knowing what is about to happen.
There are so, so, so, very few in the West, especially the United States who know what I am talking about unless they stocked their bunkers with gold, silver, food, ammo, and books to read just in case the global axis shift goes just a bit too far.
This begs the question, did John Galt miss this event?
Here is what ZeroHedge posted today:
Then, China’s President Xi visit with Saudi and GCC leaders marked the birth of the petroyuan and a leap in China’s growing encumbrance of OPEC+’s oil and gas reserves: that’s because with the China-GCC Summit, “China can now claim to have built a ‘special relationship’ not only with the ‘+’ sign in OPEC+ (Russia), but with Iran and all of OPEC+.”
At the time, Zoltan urged the reader to think of the timing of this statement in a diplomatic sense:
“President Xi communicated his message on “renminbi invoicing” not during the first day of his visit – when he met only the Saudi leadership – but during the second day of his visit – when he met the leadership of all the GCC countries – to signal the following:
Thank you Mr. Poszar.
However if Mr. Poszar or others read JohnGaltFla.com on September 7, 2022, they would have (and probably did) read this headline:
Where this very author said:
The emphasis on the link within that quote is my own because it reflects a growing discomfort with the United States as an ally in the region. After the Kabul debacle in 2021, the horrific vilification of Riyadh by President Biden over the oil price surge with associated insults to the Royals in 2022, and then the refusal to guarantee anything remotely close to the peace initiatives of his predecessor, the House of Saud has had enough. The need for alternatives to Washington’s hegemony is something the royal houses of the region have become acutely aware of, especially after the collapse of Europe as an economic power this summer.
While Russia might not be the most reliable economic ally, at least their foreign policy is consistent and who does anyone reasonable not think is acting as a mediator between the two nations? Putin would love nothing more than to peel the Saudis away from the tentacles of D.C. while creating stability between Iran and Saudi Arabia. In the mean time, Russia has absolutely no problem with the OPEC nations in the region developing closer ties with Tehran and yes, Beijing.
Thus the big power play, of which the US arrogance in Washington appears to be oblivious to, seems to be underway. The question is when will the world begin to understand the implications of this? When this meeting is confirmed:
While the Western guessing game continues to offered wild hunches about his visit to the Kingdom this year as this article was incorrect also, the truth is nothing will happen until after the Chinese Communist Congress on October 16, 2022. After that gathering and Xi securing another term, there would be a stronger inclination for President Xi to visit Riyadh and other regional allies to bolster the Chinese presence in the region to solidify his domestic power base. Unfortunately for the blind Washington war hawks there is an ulterior motive which the West refuses to acknowledge.
If one reviews the actions of the BRICS nations thus far, there is a new bipolar world developing despite denials by the West in the guise of American and European chest thumping threatening their dominance. The truth is that a bilateral trade agreement with most of the OPEC+ nations to follow the lead today with Russia would be of great strategic and economic interest to Beijing:
Russia’s energy giant Gazprom says it has signed an agreement with China to start payments for gas supplies to China in yuan and roubles instead of US dollars, in a sign of warming relations between Beijing and Moscow, which is under Western sanctions.
“The new payment mechanism is a mutually beneficial, timely, reliable and practical solution,” Gazprom CEO Alexei Miller was quoted as saying in a statement following a video conference meeting with the head of China’s oil group CNPC, Dai Houliang.
Now imagine what happens to the US Dollar, the proverbial petrodollar of trading lore for decades now, should Saudi Arabia and other Middle Eastern allies follow suit and begin trade with China in Yuan and Russia in Rubles along with those nations reciprocating using the Saudi Riyal. Then take that initial earthquake and multiply that by a factor of 100 if the OPEC+ nations abandon the Brent/WTI model and elect to cast aside seventy years of economic serfdom to the dollar, pound, and Euro in favor of their own sovereign currencies.
In other words, what happens should Saudi Arabia joins the BRICS nations officially and becomes the leader for the OPEC world in refuting the insane economic and militaristic political policies initiated since the end of World War II in favor of free trade and a new regional peace?
It would mean an almost immediate death of the dollar as other nations with products or resources the rest of the world actually needs refuses to import American debt and inflation at the expense of their citizenry. At the same time, it eliminates the need for these nations to remain dependent on American military mercenaries offering “protection” in exchange for their use of the dollars in international trade.
Wait, what? This serious Middle East expert blogger predicted this?
No effing way.
Everyone has to start learning, the blogosphere is 100% right on our facts 95% of the time. Especially when it comes to global economics, military affairs, and domestic economics because we actually read what is happening in the languages of the regions affected, not what the bogus US State Department, mainstream media, or bubblevision tells you to.