Russia and Iran are looking to bypass the USA dollar with a type of gold-backed currency;

January 18, 2023
The Central Bank of Iran is reportedly cooperating with the Russian government to jointly issue a new cryptocurrency backed by gold.
According to the Russian news agency Vedomosti, Iran is working with Russia to create a “token of the Persian Gulf region” that would serve as a payment method in foreign trade.
The token is projected to be issued in the form of a stablecoin backed by gold, according to Alexander Brazhnikov, executive director of the Russian Association of Crypto Industry and Blockchain.
The stablecoin aims to enable cross-border transactions instead of fiat currencies like the United States dollar, the Russian ruble or the Iranian rial. The report notes that the potential cryptocurrency would operate in a special economic zone in Astrakhan, where Russia started to accept Iranian cargo shipments.
Russian lawmaker Anton Tkachev, a member of the Committee on Information Policy, Information Technology and Communications, stressed that a joint stablecoin project would only be possible once the digital asset market is fully regulated in Russia. After multiple delays, the Russian lower house of parliament once again promised to start regulating crypto transactions in 2023. https://www.zerohedge.com/crypto/iran-and-russia-want-issue-stablecoin-backed-gold-report

US trade and other policies have increased the desire of certain nations to topple the US dollar’s position as the world’s primary reserve currency.

Sir Isaac Newton’s third law of physics was, “For every action, there is an equal and opposite reaction.” While that is not completely applicable in international politics, the reality is that there are ‘unintended consequences’ with USA sanctions, threats, tariffs, military interventions, etc.

Russia, its Eurasian Economic Union and the BRICS nations are working towards pushing aside the USA dollar (see Eurasian Economic Union working with BRICS to bypass USA dollar).

As far as gold goes, it is prophesied to have value after the USA dollar is worthless (see The Plain Truth About Gold in Prophecy. How Should a Christian View Gold?).

For the ‘petrodollar’ to work, large oil producers need to take it above other currencies. China, a big buyer, and Saudi Arabia a major producer are taking serious steps that way:

Saudi Arabia is open to discussions about trade in currencies other than the US dollar, the kingdom's Finance Minister Mohammed Al-Jadaan tells @ManusCranny https://t.co/YheZ4AGMia pic.twitter.com/pqXWJc6ylA
— Bloomberg Middle East (@middleeast) January 18, 2023

Saudi Arabia Just Killed The Petrodollar
January 18, 2023
The last 24 hours have marked another major waypoint along the path to my long-held contention that Russia, China and Saudi Arabia are going to make a massive, collective push to try and dethrone the U.S. dollar as global reserve currency. …
Put simply, I believe there is a historic divide in the making between the BRICS nations, led by Russia and China, and the West, led by the United States. …
Russia and China can’t do it on their own: they are working with nations like Saudi Arabia and India to help put their plans into practice. …
it appears Saudi Arabia has just issued a death knell to the exclusivity of the petrodollar as we once knew it – the first of several dominoes that needs to fall before the U.S. is exposed financially as an emperor with no clothes.
“Saudi Arabia is open to discussions about trade in currencies… zerohedge.com/news/2023-01-18/saudi-arabia-just-killed-petrodollar
January 18, 2023
Saudi Arabia is open to going around the US dollar and settling trade in other currencies, the kingdom’s finance minister told Bloomberg TV on Tuesday while at Davos. …
“There are no issues with discussing how we settle our trade arrangements, whether it is in the US dollar, whether it is the euro, whether it is the Saudi riyal,” Mohammed Al-Jadaan told Bloomberg TV on Tuesday in an interview in Davos.
“I don’t think we are waving away or ruling out any discussion that will help improve the trade around the world,” Al-Jadaan said.
The world’s largest oil exporter, which has maintained a currency peg to the dollar for decades, is seeking to strengthen its relations with crucial trade partners including China. The kingdom is a pillar a petrodollar system established in the 1970s that relies on pricing crude exports in the US currency.
During President Xi Jinping’s visit to Riyadh last year, the two countries agreed to boost coordination on energy policy and exploration. During that trip Xi said that China would make efforts to buy more oil from the Middle East and also wanted to settle that trade in the yuan. …
The Saudis are angry with the Biden regime for lecturing them over the killing of Jamal Khashoggi and harassing them incessantly over “LGBTQI rights.” https://www.informationliberation.com/?id=63552
Chinese President Xi Jinping has pledged to ramp up efforts to promote the use of the yuan in energy deals.
The de-dollarization of the global oil industry is in a treacherous mission creep phase. Things like this don’t happen quickly, but determinedly and gradually, not exactly fitting into today’s media headline game that only considers instant developments. But it is happening and the tide will not be turned based on current and near and medium-term geopolitical developments. Credit Suisse’s Zoltan Pozsar recently warned clients, in essence, that the de-dollarization of the global oil industry is in full swing–even if we can’t see the final end game from here. …
And it’s all about China, of course. Pozsar does the OPEC math for us.
Some 40% of proven oil reserves belonging to OPEC+ members is owned by Russia, Iran and Venezuela–all of whom are selling to China at major discounts, and all of whom are on board with Beijing’s petro-yuan plan.
The countries of the Gulf Cooperation Council (GCC)–most notably Saudi Arabia and the UAE–account for another 40% of proven oil reserves, and they are increasingly cozying up to China.
The remaining 20% is also accessible to China, and China is already the largest importer of crude in the world.
What it all means is that de-dollarization is marching to the beat of a fairly steady drum. In terms of global trade, the yuan accounts for around 2.7% of settlements, while the dollar accounts for 41%. These are the numbers that prompt the new trend of instant gratification to suggest this is not an imminent threat to the dollar. They are wrong. The biggest threats take a significant amount of time to develop. From here on out, the pace will pick up momentum. …
In a note to clients carried by the Irish Times, Pozsar warns: “China wants to rewrite the rules of the global energy market”, and it will do it by first removing the dollar from the orbit of the Bric countries (Brazil, Russia, India, China) that have been affected by the “weaponization” of dollar foreign exchange reserves meant to punish Russia and keep Putin from filling his wartime coffers.
What’s happened here is a window of enormous opportunity for Beijing, which has now told the Gulf countries that they are absolutely guaranteed buyers for oil and gas, for payment in yuan, with Xi promising to “import crude oil [and natural gas] in a consistent manner and in large quantities from the GCC”.
Xi’s trip to Saudi Arabia in early December was precisely about the yuan. This was the defining moment for the petro-yuan. It was an invitation, and it was well-received. China and Saudi Arabia signed over $30 billion in trade deals during the visit. That’s $30 billion in leverage that will only help further promote the petro-yuan plan. 01/06/23 https://www.zerohedge.com/energy/why-we-shouldnt-underestimate-chinas-petro-yuan-ambitions

Both China and Saudi Arabia are upset with the USA.

In the past, Saudi Arabia threatened to ditch the ‘petro-dollar’ if the US passed certain legislation (see Saudi threatens to ditch ”Petro-Dollar’ trade scheme).

What is the petrodollar and why could that be important?

Essentially, it is the fact that although the US dollar is no longer backed by gold (like it was over 50 years ago), since most oil is priced in US dollars, that gives the US dollar a type of backing in a broadly needed commodity. This insures that, internationally, the US dollar will have value. So it is sometimes called a petrodollar.

Here is more about that:

After the collapse of the Bretton Woods gold standard in the early 1970s, the U.S. struck a deal with Saudi Arabia to standardize oil prices in dollar terms. Through this deal, the petrodollar system was born, along with a paradigm shift away from pegged exchanged rates and gold-backed currencies to non-backed, floating rate regimes.
The petrodollar system elevated the U.S. dollar to the world’s reserve currency and through this status, the U.S. is able to enjoy persistent trade deficits, and become a global economic hegemony. The petrodollar system also provides the United States’ financial markets with a source of liquidity and foreign capital inflows through petrodollar “recycling.” However, before the effects of the petrodollars on the U.S. dollar can be examined, a brief history lesson is in order. …
Since the most sought after commodity in the world–oil–is priced in U.S. dollars, the petrodollar helped elevated the greenback as the world’s dominant currency. In fact, according to the Bank for International Settlements (BIS) triennial survey, 87 percent of all foreign exchanges deals initiated in April 2013, involved the USD on one side. With this status, the U.S. dollar was able to enjoy, what some have asserted to be an “exorbitant privilege” of perpetually financing its current account deficit by issuing dollar denominated assets at very low rates of interest, as well as, becoming a global economic hegemony.
For instance, countries like China, who hold vast quantities of U.S. debt have voiced their concerns in the past about the possible dilutive effects to their asset holdings should the dollar depreciate. However, the privileges associated with being able to run persistent current account deficits come at a price. As the reserve currency, the U.S. is obligated to run these deficits to fulfill reserve requirements in an ever in an ever-expanding global economy. If the United States were to stop running these deficits, the resulting shortage of liquidity can pull the world into an economic contraction. However, if the persistent deficits continued ad infinitum, eventually foreign countries will begin to doubt the valuation of the dollar and the greenback may lose its role as the reserve currency; this is known as the Triffin Dilemma. http://www.investopedia.com/articles/forex/072915/how-petrodollars-affect-us-dollar.asp#ixzz4iqqtZ9CU accessed 06/02/17

If enough oil producing nations stop pricing oil in US dollars, the theory is that the US dollar will drop, or even collapse.

Someone said this could happen as early as 2015:

Market Collapse then New World Order in 2015? A long-time financial adviser named Harvey Organ claims that claims that because of insufficient gold in the central banks of USA and UK, that Shanghai would bring about exposing this and that this would lead to a massive, overnight, rise in the price of gold and silver, diminished value of their currencies. He states a market collapse will occur before the end of 2014, that the petroyuan will replace the petrodollar, and that a Chinese led New World Order will be in place for 2015. Is this possible? Where does the leader of the ‘New World Order’ come from? What does the Bible teach? This is a video.

Although I did not believe such a collapse could have happened in 2015 (nor do I believe such for 2023), the reality is that the Bible tells of a time when the US will be taken over (Daniel 11:39).

The massive debts of the USA will be a factor:

6 “Will not all these take up a proverb against him, And a taunting riddle against him, and say, ‘Woe to him who increases What is not his — how long? And to him who loads himself with many pledges’? 7 Will not your creditors rise up suddenly? Will they not awaken who oppress you? And you will become their booty. 8 Because you have plundered many nations, All the remnant of the people shall plunder you, Because of men’s blood And the violence of the land and the city, And of all who dwell in it. (Habakkuk 2:6-8)

Actually, with an admitted debt of over $31 trillion dollars and plans to increase that much further, the USA has increased pledges more than any nation in the history of the planet. Foreign creditors will rise up.

Add to that the fact that many are also taking steps to topple US dollar dominance and you have a recipe for economic disaster for the USA.

The existence of the ‘petrodollar’ seems to have helped the USA be in a position to increase its debt and that will not end well (cf. Habakkuk 2:2-8; Daniel 11:39; see also USA in Prophecy: The Strongest Fortresses).

As far as the Arab world goes, while many of the Sunni Muslim nations consider themselves to be US allies (and many still feel the need for US military protection), one day they are prophesied to break ties with the US and plot for its downfall (cf. Psalm 83:2-8; see also Is the Future King of the South Rising Up?).

In 1966 and 1979, the old Radio/Worldwide Church of God taught that the mainly Arabic King of the South power would arise and make a deal with the European King of the North as shown in Psalm 83:

But who is the “king of the south”?…in verse 40 we skip to “the time of the end”…The verse undoubtedly found partial fulfillment in the offensive of 1896…But Mussolini did not finish the prophecy…Just as there is yet to be a final “king of the north”…there may very well emerge in the same manner a final “king of the south”–an overall leader of an Arab-Moslem confederation, possibly bearing the very title Mahdi…a prophetic psalm (Psalm 83) provides additional insight into the Mideast picture. Germany (Assyria in Bible prophecy) and perhaps the rest of Europe will be in league in the future with a union of Arab nations…But in the end, this European-Arab alliance will prove short-lived…And the king of the north shall come against him [the king of the south]…Daniel 11:40-41…The Arab-Moslem Confederation will, of course, be thrown into chaotic disarray in the fact of invasion. (Stump K. The Arab World in Prophecy. Plain Truth, December 1979, pp. 11-12).
They have said, Come, and let us cut them off from being a nation; that the name of Israel may be no more in remembrance. For they have consulted together with one consent: they are confederate against thee: The tabernacles of Edom [Esau or modern-day Turkey, a non-Arab but Islamic nation] and the Ishmaelites [Saudi Arabia]; of Moab [part of Jordan] and the Hagarenes [anciently these people dwelt in the land known as Syria today]; Gebal [Lebanon], and Ammon [modern Jordan], and Amalek [part of the Turks]; the Philistines [the modern Palestinian Arabs] with the inhabitants of Tyre [Lebanon]; Assur [whose descendants, the Assyrians, migrated to Germany] also is joined with them: (Stump K. The Arab World in Prophecy. Plain Truth, December 1979).
Turn to the astounding prophecy found in Psalm 83:1-8. David, inspired of God, predicted the coming time when ALL of Israel’s enemies would join together in an effort to crush out even the name “Israel” from the face of the earth! (Verse 4) “For they have consulted together with one consent: they are confederate against thee…” (verse 5). Notice the nations making up this confederation. “Edom [Turkey], and the Ishmaelites [Saudi Arabia]; Moab [Jordan], and the Hagarenes [they anciently dwelt in the land known as Syria today]; Gebal {Lebanon}, and Ammon [Jordan] and Amalek; the Philistines with the inhabitants of Tyre; Assur [whose descendants migrated to Germany] is joined with them; they have helped the children of Lot” {Moab and Ammon in modern Jordan). Here we see that the Arab nations mentioned are allied with Germany (Assur) which we know from other prophecies will be the military leader — naturally so — of a United States of Europe…Egypt…will provoke the prophesied United Europe (Dan. 11:40). This European power — called the “king of the north” in Daniel 11 — shall invade and occupy the “glorious land” of Palestine (verse 41). “And the land of Egypt shall not escape”(Boraker R. SYRIA RAIDS ISRAEL – Where Is It Leading? Plain Truth. November 1966)

Psalm 83 is very likely to involve terrorism–taking “crafty counsel” sounds like plotting terrorism (see also Why Terrorism? Is Terrorism Prophesied?). The Europeans, who also want to topple the USA dollar, will one day make a destructive deal with those of the Middle East and North Africa. This deal in the 83rd Psalm will affect the USA, Canada, UK, and possibly Australia and even New Zealand.

The efforts going on now by Russia, Iran, China, Saudi Arabia, and others are steps to push aside the dominance of the USA and its British-descended allies.

But you will not hear much about it by most of the American media.

Although secular sources do not realize it, many events are aligning with properly understood biblical prophecies.

Identifying the USA and its Destruction in Prophecy

Is the USA prophesied to be destroyed by 2028?

Do these 7 prophesies point to the end of the USA?

The Bible, the USA, and the King of the West

The King of the North is Alive: What to Look Out For

The Future King of the North

Great Monarch: Messiah or False Christ?

Great Monarch in 50+ Beast Prophecies

Is there a coming King of the South?

Arab NATO and the Coming King of the South