/biz/ - Business & Finance

Reminder that as of Friday, China, SCO, CSTO and BRICS countries are no longer using US dollars for trading oil. Effective immediately, official Chinese news media started broadcasting that the Covid pandemic is coming to an end. We can now surmise that China didn't lift Covid restrictions earlier because it was countering America exporting its inflation abroad via the petrodollar. And if you want to know the next step it's a global reevaluation of gold as the new common denominator for the oil trade.

The bottom is in for non-tech. Got oil and metals exposure?

>>52796232
Wait, I thought gold was just a pet rock? Why are they treating it like the lynchpin of the global economy?

https://www.cnn.com/2022/12/08/business/defense-bill-russia-gold/index.html

>>52728484
Brady has a pretty bad track record. What I'm curious about is the impact of this recent change that's about to go into effect (picrel)

https://twitter.com/PopescuCo/status/1598860804995964929