When did the market move from barrels to tonnes?
Nixon & Kissenger gave us the Petro Dollar to stabilize our currency after Nixon took us off the gold standard and our currency destabilized.
It worked until Carter screwed the Sha of Iran and didn’t uphold Nixon’s Petro Dollar agreements.
Ronald Reagan stabilized the Petro Dollar.
Bush attacked Sadam Hussein and Iraq as Hussein was selling oil for Euros and Yen, thus destabilizing our currency.
The future could be very interesting if the Petro Dollar is destabilized.
The end of the Petrodollar is in sight if this is true.
On the plus side, when international buyers don’t have to have the Dollar for their oil all this social spending will have to be greatly curtailed.
Rioters and looters should be shot by the ordinary citizens whose lives, persons and property they threaten.
This is a big deal. It could lead others to abandon the US Dollar as the world’s reserve currency.
This would result in less financing of huge American debt by others. It would also render US sanctions far less effective.
For this, we can thank the NeoCons & John Bolton.
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