GOLDILOCKS
There’s a fake petrodollar news story doing the rounds that Saudi Arabia and the U.S. had a 50-year contract in which Saudi agreed to settle all its oil sales in U.S. dollars. Supposedly, this is meant to foreshadow the end of dollar dominance and is good for cryptocurrency prices. Except there was no such deal.
https://www.ledgerinsights.com/fake-news-saudi-petrodollar-deal-with-u-s-ended-this-month/
👆The dollar is being used less and less. I just wanted to update you on a news story that was found to be fake.
© Goldilocks
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BOJ Announcement:
"The Bank of Japan on Friday said it would trim its vast hoard of government bonds as it cautiously steps away from its long-running ultra-loose monetary policy."
As you can see, several countries are beginning to pull back on bond buying and use of the US dollar.
This decrease in the use of the dollar and increase in local currencies around the world will begin the process of leveling the playing field in the currency markets.
New demands on local currencies that have not been used in years will begin to surface new price actions.
Stay tuned!
© Goldilocks
https://www.barrons.com/news/bond-buying-in-focus-as-bank-of-japan-decides-policy-b7cf4087
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