The biggest shift in world politics this year is Saudi jumping the fence and running toward BRICS. Saudi has been the keystone of our petrodollar power for many decades, and the keystone of British oil power before we took over the oil realm. We tolerated their attack on NYC in 2001 because we need them more than they need us. Now they’re demonstrating full independence and we’re not doing anything about it YET.
The linked article covers a new Chinese move to help Saudi switch. China has issued government bonds denominated in dollars. They’re selling the bonds to Saudi government and oil companies, thus providing a way for Saudi to move its dollar reserves into the BRICS sphere instead of looping with US.
Polistra's Mill 