99% Drop in Multiple Stocks, Including Berkshire Hathaway
Technical "glitch" causes halts among multiple companies
I want everyone to save this post. This is Warren Buffet’s Berkshire Hathaway showing a 99% decline in price from $647,000 per share to $185 per share. Yes this is a glitch, but it shows the complexities and flaws of our system. I want you to save this post because it is a sneak peak of what we will see in the entire stock market and it will not be a glitch, we will witness the biggest crash of our lifetime to the likes of the 1929 Great Depression.
Some data for reference and perspective on what is about to happen:
Agreement between the United States and Saudi Arabia coming to an end this month:
The Petrodollar System
In the 1970s, the US struck a deal with Saudi Arabia to price oil exports in US dollars. In exchange, Saudi Arabia would invest its surplus petrodollars into US assets like Treasury bonds. Other OPEC nations followed suit, increasing global demand for dollars. This petrodollar system helped solidify the dollar's status as the world's reserve currency. It provided a stable market for Saudi/OPEC oil while recycling petrodollars back to the US economy.
Potential Shift Away from Petrodollars
Recently, Saudi officials have suggested pricing some oil sales in other currencies like the Chinese yuan. This signals potential cracks in the decades-old petrodollar system. As Saudi Arabia strengthens economic ties with China, the US is pressuring the kingdom to limit its relations with China to maintain US military aid and protection.While Saudi Arabia hasn't abandoned the petrodollar yet, the threat could be a bargaining tactic to extract greater concessions from the US amid shifting geopolitical dynamics.
Tensions to Watch:
There are signs this decades-old petrodollar system may be coming to an end:
Saudi officials have recently suggested they are open to pricing some oil sales in other currencies like the Chinese yuan.
Saudi Arabia is strengthening economic ties with China, its largest trading partner.
The US is pressuring Saudi Arabia to limit its relations with China in exchange for continued military protection.
So while Saudi Arabia has not officially abandoned the petrodollar system yet, the threat of pricing oil in other currencies could be a bargaining tactic to extract greater concessions from the US. —> Saudis Flirt with ‘De-Dollarization’ to Get Washington’s Attention
The Big Picture
We are witnessing the collapse of the global financial system. Central banks around the world, led by the Federal Reserve, have engaged in unprecedented money printing and debt accumulation. The only thing giving the USD any value right now is the Petrodollar system, and when (not if) the world ditches the USD as the global reserve we are in for a rude awakening.