The petrodollar system is the monetary policy's version of 'Weekend at Bernie's' as it props up the Dollar as the global reserve currency.
This system is a mirage or (better put) it acts as a crutch for the U.S. Dollar. It creates artificial demand for the currency and U.S. assets while providing U.S. financial markets with an artificial source of liquidity and foreign capital inflows.
It is only a matter of time (likely months) before the rest of the world says "NO MORE!" and they leave the U.S. Dollar in the dustbin of history. And what ...
The petrodollar system is the monetary policy's version of 'Weekend at Bernie's' as it props up the Dollar as the global reserve currency.
This system is a mirage or (better put) it acts as a crutch for the U.S. Dollar. It creates artificial demand for the currency and U.S. assets while providing U.S. financial markets with an artificial source of liquidity and foreign capital inflows.
It is only a matter of time (likely months) before the rest of the world says "NO MORE!" and they leave the U.S. Dollar in the dustbin of history. And what makes it so infuriating is it is a completely avoidable, self-inflicted wound.
This country, founded by geniuses, has been run by fools and crooks for so long that they killed this once great country.
Show Notes
World Looks to Abandon Dollar as US Sanctions Tighten Their Grip
https://mises.org/wire/huge-debt-got-us-hooked-petrodollars-and-saudi-arabia
https://www.zerohedge.com/markets/petrodollar-cracks-saudi-arabia-considers-accepting-yuan-chinese-oil-sales
Episode #162 - The Truth About Nixon's Closure of the Gold Window
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