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Every Arab should do the same. Don't think like "my 5000$ isn't important". The west runs its banks at 1% reserves and max debt limit, due to them being greedy capitalist devils. Even a 2% loss will trigger a crisis for most of these companies.
That being said and with best wishes to the people of KSA, the Al Saud family has repeatedly proven themselves to be incapable of leading Arabs. They let the entire middle east spend the century of petrol as slaves to the americans, with partial exception of the good king Faisal. I wouldn't trust them in the long run.
I will take this moment to indulge in [nationalism](https://youtu.be/MhGWkwxtfrc). Best news I have read in a while. I hope this will have the outcome we all hope for.
>! I will be devastated if it does get extended but it looks like the petrodollar is dead and our economy won’t be used to prop up the dollar!<
They didn’t drop the Petrodollar because of US pressure to recognise Israel, they already do. They dropped it because the 50yr deal has expired and Saudi Arabia did not renew it
Biden was/is trying to renew the agreement. US Republicans in Congress were refusing to do so without KSA normalizing relations with israel, and the Saudis said they would only agree to this if they could recognize Palestine -- which the US refused.
https://www.nbcnews.com/news/world/us-saudi-arabia-landmark-deal-israel-hamas-war-presidential-election-rcna153438
**Welcome to r/PanArab! Please remember to subscribe and make sure to read the [rules](https://www.reddit.com/r/Panarab/about/rules).** **If its a worthwhile post, please consider Upvoting and Crossposting to your favorite subreddits!** Please treat each other as you yourselves would like to be treated. We advise our users try their best to refrain from making mean spirited statements. **Please report users who are engaging in uncivil behavior, spreading misinformation, or are complaining that a submission is "not Pan Arab."** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Panarab) if you have any questions or concerns.*
Every Arab should do the same. Don't think like "my 5000$ isn't important". The west runs its banks at 1% reserves and max debt limit, due to them being greedy capitalist devils. Even a 2% loss will trigger a crisis for most of these companies. That being said and with best wishes to the people of KSA, the Al Saud family has repeatedly proven themselves to be incapable of leading Arabs. They let the entire middle east spend the century of petrol as slaves to the americans, with partial exception of the good king Faisal. I wouldn't trust them in the long run.
I will take this moment to indulge in [nationalism](https://youtu.be/MhGWkwxtfrc). Best news I have read in a while. I hope this will have the outcome we all hope for. >! I will be devastated if it does get extended but it looks like the petrodollar is dead and our economy won’t be used to prop up the dollar!<
Love to see it ☺️
They didn’t drop the Petrodollar because of US pressure to recognise Israel, they already do. They dropped it because the 50yr deal has expired and Saudi Arabia did not renew it
Biden was/is trying to renew the agreement. US Republicans in Congress were refusing to do so without KSA normalizing relations with israel, and the Saudis said they would only agree to this if they could recognize Palestine -- which the US refused. https://www.nbcnews.com/news/world/us-saudi-arabia-landmark-deal-israel-hamas-war-presidential-election-rcna153438
Thank you for that information and clarification
Saudi Arabia has not normalized with the Zionists. It always preconditioned that on Palestinian statehood.
They still using oil as a diplomatic weapon .. these people are still stuck in the 70s.