The petrodollar was their yoke on the United States! We couldn’t develop a green energy sector under the toxic corruption of the petrodollar and those morons just… turned away?
HAHAHAHAHAHAHA
I hope this article holds up. Interesting times just got a little more interesting.
it would be incredibly moronic for saudis to pull something like this. they rely on us army for their own defense against regional rivals, most importantly iran. have you seen saudi army? they need to hire mercenaries from sudan because saudis are too lazy and corrupt. if they annoy uncle sam too much, they can kiss all and any defence agreements and western weapons sales goodbye.
fortunately you don’t have to worry too hard about this one, because it’s a made up story coming from crypto people, spread over some shitty “journals” and repeated on tiktok and twitter
Reddit has shit analysis: “why does the end of the petrodollar not mean that oil is priced in Bitcoin or tulip bulbs?”
Motherfucker the petrodollar was a matter of convenience. The USD was already gloablly-accepted and a large component of foreign reserves, which made it sensible to make it the petrodollar, which served as a self-fulfilling prophecy of sorts. Even if the petrodollar ended, you wouldn’t see significant impacts on the price of oil, the value of the USD, or the oil trade in general for years.
I had heard about the petro-dollar exit but the new digital currency they want to implement is news to me. They have quite a few central banks are involved. I wonder what this will do to US finances?
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