GOLDILOCKS
Saudi Arabia joins China and UAE in digital currency project. The kingdom is joining the Switzerland-based Bank for International Settlements’ central bank digital currency platform.” Saudi Arabia is the latest country to join this multi-country initiative utilizing wCBDC as a form of payment. This announcement came on Wednesday as Saudi Arabia joined Project mBridge as a “full participant.
” This means that Saudi Arabia will be moving to a wCBDC payment regimen joining many countries in the Eastern half of our world in payments through local currencies. This will significantly minimize the use of the Petro Dollar if not completely over time. Currently, Saudi Arabia still services the United States along with China who uses the Petro Yuan to trade in oil agreements.
This will level the playing field a great deal in the use of currencies moving from a Petro Dollar regimen to wCBDC payment source. Remember, well over 80% of trade around the world is done on the water where exchange rate quotas and percentages are currently under pressure from new demands on local currencies to begin looking at resetting their prices.
WATCH THE WATER.
© Goldilocks
https://www.al-monitor.com/originals/2024/06/saudi-arabia-joins-china-and-uae-digital-currency-project#ixzz8cNJfiONL https://www.state.gov/u-s-relations-with-saudi-arabia/#:~:text=The%20United%20States%20is%20Saudi,oil%20to%20the%20U.S.
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