The dollar’s role as the world’s reserve currency is sliding, but the transition to what lies ahead in the future is not an immediate prospect. From James Rickards at dailyreckoning.com:
There’s been a lot of talk over the past several days that Saudi Arabia is ending the petrodollar deal it’s had with the U.S. for 50 years. This story has been highly exaggerated. Today I want to address the misinformation you’re seeing right now, and show you what really happened.
News services of dubious accuracy reported that Saudi Arabia had ended the petrodollar deal on June 9, after 50 years. This report was quickly followed by claims that oil would now be priced in everything from Chinese yuan to Indian rupees, Russian rubles and other currencies without strong claims to being reserve currencies.
The implication of these stories was that the U.S. dollar’s long reign as the leading global reserve currency was over. New reserve currencies would come to the fore, most prominently the BRICS planned currency.
The crypto crowd wasn’t far behind shouting that the demise of the dollar proved that cryptocurrencies were the way of the future. The internet was on fire with these and other histrionic claims.
Don’t Buy It
In fact, almost everything you just read is nonsense. There have been some very important developments in international finance and monetary policy in recent days but they’re far more nuanced and ultimately more important than stories grabbing the headlines.
STRAIGHT LINE LOGIC 
But, but, but, muh indispensable fake and GAE?
The peaceful religionists just love sodomy uber alles. (s/)
Barry is loving from the DC command center smoking a blunt by the people’s champaign fountain?
Yes we can!
They don’t give a F’ about you at all as G Carlin said so some adjustments will have to be made in order to outlast the engineered Great Depression II.
I’m loving this kewpie KJP (historic!) stating that the stumblin’ bumblin’ Brandon action man pics are photochop deep fakes and just found a sound like the immaculate Chicago jesus messiah (the One!) produced by antichrysler err I mean AI production.
This just in from the Joker:
Burn this MOFO down.
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