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The original rich life suddenly has a touch of wealth, it can be said that God has given Saudi Arabia too many rewards, and Saudi Arabia, which is overwhelmed by the richness, has ushered in a crown, so to speak, Saudi Arabia is really a reward for food. If oil has brought wealth and disaster to the Middle East, then the largest gold mine discovered by Saudi Arabia may once again cast a shadow over the Middle East.
Will the United States, which originally withdrew from the Middle East, continue to choose to withdraw? As soon as the BRICS was expanded, Saudi Arabia discovered a world-class gold mine, and at the same time, Iran and Russia chose to withdraw from SWIFT, is the BRICS currency really coming? Has the hegemony of the dollar entered the countdown moment?
Saudi Arabia is overwhelmed with riches
If there was any place that was most fortunate in the past, it must be the Middle East, because they lie on the oil, and as long as they exploit it, they can have a steady stream of income, and if they are unlucky, it must also be the Middle East, because their turmoil has hardly stopped. The Saudis, on the other hand, avoided the worst.
Recently, Saudi Arabia once again ushered in a good news, that is, Saudi Arabia has discovered a world-class gold mine. The mine is more than 120 kilometres long, and the reserves are even more impressive, reaching 198 tonnes at the end of 2023, and more will only be added in the future as mining and exploration increases.
Therefore, this can no longer be said to be a place with honey, but also a place with gold. This is even richer for Saudi Arabia. And we all know that in the past, because of its rich oil reserves, Saudi Arabia finally cooperated with the United States to form a petrodollar, thus establishing its position in the Middle East and even the world.
And in recent years, Saudi Arabia has clearly gradually lost this advantage. The most important of these is that the United States has gradually changed from an oil importer to an oil exporter, and the world is vigorously promoting a new energy industry to reduce dependence on fossil fuels, which is not good for Saudi Arabia.
However, the discovery of gold deposits can be said to add a little bit of bargaining chip to Saudi Arabia's future game. At the same time, we also know that the United States is still in the Middle East on the surface, but its strategy is to retreat gradually. So we've seen in recent years, the United States is bogged down in the Middle East.
If in the past, the United States was able to respond to every call in the Middle East and make the countries of the Middle East obey the orders of the United States, then now we will see that the United States cannot be said to be in an advantageous position in the Middle East, but can only say that only by stealing oil can the United States reduce its losses.
However, the United States survived its own shale oil and shale gas explosion, but what it did not expect was that the Middle East discovered a world-class gold mine, so to speak, the United States is now in a dilemma. If we want to take advantage again, we need to continue to move back half of the foot that we withdrew from the Middle East, and can the current United States go back?
And we can also see that the United States is already paying huge costs in the Middle East. If the United States goes back to grab resources, it means that the United States needs to put more resources in the Asia-Pacific region to the Middle East.
It can be said that Saudi Arabia's world-class gold mine has made Saudi Arabia richer, but this has also made the United States deeply pondered. Not to mention that this is a trillion-dollar deposit, and its value is no less than the role of discovering a giant oil and gas field.
However, what worries the United States the most should be that at the moment of de-dollarization, Saudi Arabia suddenly discovered a giant gold mine, and we know that Saudi Arabia and Iran completed the historical reconciliation last year, and Saudi Arabia just joined the BRICS this year.
The dollar crisis is gradually emerging
On the one hand, Saudi Arabia has entered the BRICS, on the other hand, Saudi Arabia has discovered gold, and Iran and Russia have recently announced their withdrawal from Swift, so to speak, a wave of de-dollarization is coming.
One of the greatest achievements of the United States over the past few decades has been the binding of the dollar to oil, which arguably laid the foundations of dollar hegemony. However, with the abuse of the hegemony of the dollar, coupled with the fact that the United States itself has become an oil exporter, it can be said that the United States itself has shaken the foundation of its own petrodollar.
Because we know that in the past, one of the foundations on which the petrodollar could be established was that the United States was the largest consumer of oil, and Saudi Arabia and the United States were in a cooperative relationship, but now the United States and Saudi Arabia have become competing, so the foundation of the two has been interrupted by the United States itself.
Therefore, we can also see the drama of Tsarist Russia engaging in oil confrontation and finally pit the shale oil of the United States. And now China has become the world's largest consumer of crude oil, and we are a major importer, which requires oil exporting countries to no longer be tied to the dollar, because this is very uneconomical for us.
And this year we saw that the BRICS countries became the BRICS 10 countries, and we must not forget that earlier last year, the countries led by Brazil had been promoting the BRICS currency. And we know that if we want to implement the BRICS currency, there must be a certain anchor.
In the past, many people speculated that commodities such as oil may be anchored, of course, this is not wrong, after all, commodities are the world's hard currency at the moment, and the discovery of gold in Saudi Arabia has added hope to the BRICS.
Because we know that for the past two years, one of the things that central banks around the world have been doing is selling US bonds and increasing their holdings of gold. Even the mainland has been increasing its gold holdings for many months, and the purpose of this is to reduce losses on the one hand, and to increase the anchor of its own currency on the other hand, and at the same time strengthen the credibility of the currency.
The increase in gold will naturally increase confidence in the de-dollarization of countries, and don't forget the rapid warming of Sino-Saudi relations in the past two years, and the increase in Saudi gold deposits at this time will enhance Sino-Saudi cooperation again?
I think this is certain, after all, China and Saudi Arabia have a lot of consensus on the production capacity structure and future vision. Moreover, Saudi Arabia has such a large gold deposit, which naturally needs buyers, and China is now increasing its holdings of gold in large quantities, so there is naturally a basis for cooperation.
And Iran and Russia, which have been under sanctions and have not withdrawn from Swift, suddenly announced their withdrawal from this system, which can be said to have a lot of imagination. Because we know that this system itself is the settlement system built by Europe, the United States and the West, and it is also the most important settlement system in the world, and today's withdrawal of these two countries means that a new system has been established?
The tide of the times is rolling forward, and the great changes unseen in a century have gradually reached a critical season, maybe in the near future we will see a different world, let us wait and see!
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