Our nation will be fine with or without budget deficits. Government is a minority share of our GDP.
Any “petro Dollar” policy would prop up the U.S. Dollar, which encourages the purchase of more imports and harms efforts to “Buy American.”
A strong Dollar hurts the American private sector (the largest component of our GDP).
Inflation?!
Who cares. Home prices go up and debt repayal becomes trivial.
This is a bunch of BS that ignores a growing body of facts and evidence which all point to a defense of the petrodollar. I am not going to argue with you about strong dollars and weak dollars because it is just as irrelevant now as it has been for the past 40 years. The west has built the foundation of its empire out of fiat currency and that fiat currency is backed by OPEC oil and this makes the US federal reserve note the de facto global reserve currency. And for the past 40 years we have built our temple on this rock and all of western capitalism now rests on this pillar and if you think it hasn’t been a phenomenally good thing for the moneyed powers that be in the west, you’re either crazy or stupid. Vladmir Putin knows that the petrodollar is the lynchpin of western banking and has repeatedly acted against it and that’s why he and we are engaged in an escalating conflict in Syria presently. We have no other interests beyond our own.