Saudi Arabia ends petrodollar agreement: What it means for the USD, Bitcoin, and gold

[Menthol]

It means not so much.

Saudi Arabia still accepts USD as payment.

But the difference, Saudi Arabia today is also accepting other currencies as well.

I guess Saudi Arabia is still preferring USD over other currency, and gold.

 

[Menthol]

Saudi Arabia agrees to accept payment using RMB is because RMB is backed with gold.

It's the gold that most important to Saudi Arabia, not RMB.