This is of course speculative and I do not take Christopher Green at his word, however..
That could be compared with what Hal Turner is saying back at the end of August.
Something happened that is – and history will record it as being — THE “Black Swan Event” for the United States.
Saudi and Russian officials Tuesday announced the signing of military cooperation pact between the two countries.
Saudi Defense Minister Khalid bin Salman announced the agreement via Twitter, stating it would aid in “developing joint military cooperation between the two countries.”
In a second tweet, he elaborated on his meeting with his Russian counterpart, Sergey Shoygu, in which the pair explored ways to “strengthen the military and defense cooperation between our two countries.”
Few people understand exactly what this means and what the results will be for the United States. In order to understand this in proper context, you need you go back in history to the 1970’s to grasp how and why there was created what came to be known as the Petro-Dollar.
The emergence of the petrodollar dates back to the early 1970s when the U.S. reached an agreement with Saudi Arabia to standardize the sale of oil based on the U.S. dollar. Petrodollar recycling creates demand for U.S. assets when dollars received for oil sales are used to buy investments in the United States.
The reason the Petro Dollar came into existence was because Saudi Arabia wanted protection. They wanted the protection of the United States military against what was the big bad Soviet Union.
In return for the U.S. agreeing to protect Saudi Arabia, they agreed to sell oil worldwide ONLY in U.S. Dollars. That agreement has been in place ever since then.
As a direct result of the Saudis doing this, ALL oil sales to, from, and between EVERY country in the world, is done in U.S. Dollars. In order for countries to buy oil, they have to exchange their currency for US Dollars, then pay for that oil in US Dollars. Conversely, if countries sell oil, they receive U.S. Dollars for that sale.
This system has, for decades, caused literally EVERY country in the world to hold U.S. Dollars in their currency reserves. To grasp the impact of this, one need only realize that TRILLIONS of U.S. Dollars are presently held all over the planet so countries can engage in oil transactions.
Oil they need to run their countries and oil they have which they need to sell. TRILLIONS of dollars . . . Now, Saudi Arabia has signed a defense pact with Russia. Follow this through: Russia can now protect the Saudis just as well as the USA did. And Russia won’t walk away from the people they protect like the US just did with Afghanistan! So now that Russia will protect the Saudis, the Saudis no longer need to sell their oil in . . . . U.S. Dollars.
Which means countries all over the world don’t need to hold U.S. Dollars. TRILLIONS of those dollars are about to start coming home. It will be a literal tidal wave of cash coming back.
No one needs it anymore.
What will that tidal wave cause here at home?
No, not hyper inflation . . . mega-uber-hyper-inflation.
What Saudi Arabia did today IS the “Black Swan Event” for the US. Everyone around the world will want “out” of U.S. dollars.
The value of our currency is about to begin plummeting. Saudi Arabia, in one move, smashed our currency into what will quickly become a death spiral.
Sure, everyone will try to keep the flow slow and manageable, but that has zero chance of working. As more and more countries cash-out, and the rest of the planet starts seeing the value of our money plummeting, they’ll all flood us with their dollars. It will be a veritable TSUNAMI of inbound cash.
We all know that Hal Turner is hyperbolic but is he WRONG?