Her tweets followed a well-trodden path, puzzlement followed by irritation, exasperation and finally, emojification.
I’m seeing a lot of speculation that the June 9, 1974 deal struck between the US and Saudi Arabia to recycle dollar oil payments back into USTs had a 50-year duration to it and might therefore expire soon. (H/T @Kathleen_Tyson_ )
— Izabella Kaminska (@izakaminska) June 2, 2024
A reminder, that deal was struck in the aftermath… https://t.co/KdMkPpAfYk
FYI - all the talk about the petrodollar agreement coming to an end (which as it happens @theblindsp0t covered over two weeks ago) is there actually any verified confirmation about this being the case? Last I checked it was all speculative but it’s being reported as fact.
— Izabella Kaminska (@izakaminska) June 12, 2024
As…
After my X feed became spammed last night with talk of the end of the petrodollar, I tried to track the source, and saw that the most likely patient zero was @marionawfal. I tweeted yesterday that most content that was circulating about it seemed totally unsubstantiated in terms…
— Izabella Kaminska (@izakaminska) June 13, 2024
😡There is NO evidence the petrodollar agreement expired on June 9. There is plenty of evidence that the whole thing fizzled out once America became energy independent about a decade ago.
— Izabella Kaminska (@izakaminska) June 14, 2024
What’s more: that is more of a problem for the Saudis who no longer have a guaranteed and…
Omg this thing just WON’T stop.
— Izabella Kaminska (@izakaminska) June 14, 2024
🤪 https://t.co/IHvBUoZvHK
And today we see at MarketWatch:
Reports of the petrodollar system’s demise are ‘fake news’ — here’s why
Stories about the collapse of a longstanding ‘petrodollar’ agreement between the U.S. and Saudi Arabia spread like wildfire on social media. But the agreement never existed.
