I don't get the petrodollar issue. Who cares if Iran won't accept dollars? (Except by the plane load, of course!) We don't buy their oil anyway, and if we did we could easily convert our currency into Euros (or whatever) to make the purchase. Any other country has their own currency (or, in the case of European countries, Euros), and it has to be converted into whatever currency Iran will accept. Then, to make purchases from other countries, they have to convert that currency into whatever the selling country will accept. Currencies are, roughly speaking, fungible through the worldwide currency trading network.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
OPEC oil is one of the main valuation supports for the dollar.
When US dollars were completely removed from gold in 1971, and became the "free-floating" basis of the world banking system, it was no accident that Nixon/Kissinger/Volcker created OPEC by convincing S.A., Iran and others to form a cartel and drastically raise the price.
We said we would support them in this effort to become fabulously wealthy PROVIDED they ONLY SELL in DOLLARS and that they recirculate those dollars (which they don't destroy in their own pleasure quests) back to New York Banks and the U.S. Bond market (plus some to U.S. arms industry).
This is what has "allowed" the U.S. to run the ever-increasing twin deficits ever since the late '70s.
The endgame of the globalist cartel has always been eventual collapse of the dollar and replacement with an international currency.
President Trump is trying to throw a monkey wrench into this rigged globalist game aimed at America's demise, but in order to WIN he's going to have to start shrinking the deficits (trade and fiscal) as well as the $21T national debt. ("The only way to win is stop playing the game!")
This is one of the biggest challenges of his (hopefully) 8 years in office.
In the past, the U.S. under various globalist Presidents has fought for the globalist financial order whenever it is threatened. Recent examples are the moves of Saddam Hussein and also Ghaddaffi of Libya to disengage, which led to their overthrow and deaths.
Most likely, this same issue is what has them squealing like stuck pigs over Syria, and of course our potentially developing a relationship with Russia.
BTW the U.S.-Russia relationship is needed to counteract globalist China.
“””I don’t get the petrodollar issue. Who cares if Iran won’t accept dollars? (Except by the plane load, of course!) We don’t buy their oil anyway, and if we did we could easily convert our currency into Euros (or whatever) to make the purchase. Any other country has their own currency (or, in the case of European countries, Euros), and it has to be converted into whatever currency Iran will accept. Then, to make purchases from other countries, they have to convert that currency into whatever the selling country will accept. Currencies are, roughly speaking, fungible through the worldwide currency trading network.”””
Is the exchange rate always one unit of equal value to one unit of equal value between currencies?
Where do dollars come from?
Who owns them?
Who benefits the most from their continued use?
How would you ensure their continued use?
Military force?
Do the owners of the dollars care about sheep?
Would they want to control the new-found natural gas and oil off Israel’s coast? Where will the pipeline go?
Why were HRC, Hussein, the Vatican and others hell bent for a Two State Solution?
https://en.wikipedia.org/wiki/Petrodollar_warfare