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Petrodollars could affect U.S. foreign policy / military actions abroad

By Hicbd
Mon Mar 7 2022 3:00 pm

"As we emerge from the 2020 pandemic and financial crisis, American elites continue to enjoy the exorbitant privilege of issuing the ultimate monetary good and numéraire for energy and finance...This essay will explore the rarely discussed creation of the petrodollar and lay out how America has supported brutal dictators, compromised its national security, harmed its industrial base, propped up and protected the fossil fuel industry and even waged conflict abroad, all to bolster the dollar’s status as global reserve currency. While this strategy worked for U.S. leaders for many decades, today the world is inexorably moving to a more multipolar financial structure."

URL:
https://bitcoinmagazine.com/culture/the-hidden-costs-of-the-petrodollar
https://www.washingtonpost.com/outlook/how-petrodollars-rearranged-the-world/2021/08/11/3474aee2-ca09-11eb-81b1-34796c7393af_story.html

URL Credit

Categories:
Currency U.S. Foreign Policy / International Relations Oil and Gas Industry U.S. National Security / Intelligence Cryptocurrency Middle East Saudi Arabia

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