I am very confused now because usually nasdaq is a highly regarded and well informed source of information.
But here there are some glaring mistakes and omissions in the article:
1. Saudi Arabia has already been trading oil in other currencies for some years now. Have they been violating their own protection deal?
2. Or was the deal never put on paper and more of a “gentleman’s agreement” to begin with?
3. The suggestion is made that the end of this deal will mean a declining US dollar. The fact is that the dollar has been declining for a while already and this hasn’t sped up after the end of this “deal”.
But here there are some glaring mistakes and omissions in the article:
1. Saudi Arabia has already been trading oil in other currencies for some years now. Have they been violating their own protection deal?
2. Or was the deal never put on paper and more of a “gentleman’s agreement” to begin with?
3. The suggestion is made that the end of this deal will mean a declining US dollar. The fact is that the dollar has been declining for a while already and this hasn’t sped up after the end of this “deal”.
Also, for context: https://news.ycombinator.com/item?id=40674426