The 50-year petrodollar agreement between the United States and Saudi Arabia that designated the U.S. dollar as the global-trade currency for oil sales ended on June 9. The U.S. dollar was essentially the “gold standard” of the global oil trade. Now this is no more, renewing concerns about “de-dollarization” and the future of the American economy.
“Oil exporters settle sales in U.S. dollars because the dollar is the most widely used currency, making it easier for them to invest export proceeds,” explains Investopedia .
Last year, the Heritage Foundation blamed U.S. sanctions for the continued decline of the dollar. Economist Peter St Onge noted that “unprecedented U.S. sanctions against Russia — designed as retribution for Vladimir Putin’s invasion of Ukraine — have been driving friendly countries, from Brazil to Saudi Arabia, away from the dollar and into the arms of the BRICS coalition of […]
— Read More: thefederalist.com
It’s becoming increasingly clear that fiat currencies across the globe, including the U.S. Dollar, are under attack. Paper money is losing its value, translating into insane inflation and less value in our life’s savings.
Genesis Gold Group believes physical precious metals are an amazing option for those seeking to move their wealth or retirement to higher ground. Whether Central Bank Digital Currencies replace current fiat currencies or not, precious metals are poised to retain or even increase in value. This is why central banks and mega-asset managers like BlackRock are moving much of their holdings to precious metals.
As a Christian company, Genesis Gold Group has maintained a perfect 5 out of 5 rating with the Better Business Bureau. Their faith-driven values allow them to help Americans protect their life’s savings without the gimmicks used by most precious metals companies. Reach out to them today to see how they can streamline the rollover or transfer of your current and previous retirement accounts.
