Oh Great, Now We Could Lose The Petrodollar…
The economic sanctions that have been imposed upon Russia have caused immense damage, but a loss of the petrodollar would be absolutely devastating for the U.S. economy. Since making an agreement with the Nixon administration in 1974, the Saudis have traded oil exclusively for U.S. dollars. Today, approximately 80 percent of all oil produced in the entire world is traded for dollars, and the “petrodollar” has become one of the foundational pillars of the current global financial system. Most Americans don’t realize this, but far more dollars are actually used outside of the United States than inside the United States, and having the reserve currency of the world is a massive advantage for us. Up to this point, there has been an insatiable demand for U.S. dollars all over the planet, and that has allowed us to enjoy a standard of living that is way above what we actually deserve.
-
1:08:34
The Late Kick with Josh Pate
8 hours agoLate Kick Live Ep 518: CFB’s Wildest Era | Biggest 2024 ?s | Impact Freshmen | Bold Predictions
25.1K -
12:00
Dr. Eric Berg
1 day agoWhat Exercise Burns the Most Calories?
52.4K22 -
4:48:29
LumpyPotatoX2
12 hours ago$10,000 PUBG Tournament w/GamersError - #RumbleTakeover
60.9K16 -
3:22
One Bite Pizza Reviews
2 days agoBarstool Pizza Review - Marco Pizzeria & Restaurant (Branford, CT)
63.7K25 -
41:46
Standpoint with Gabe Groisman
17 hours agoEp. 27. From GameStop to the NBA. Gabe Plotkin
67.4K6 -
55:04
Matt Kohrs
14 hours agoThe Volatile Week Ahead || The MK Show
76K24 -
26:18
Stephen Gardner
13 hours agoTop Republican UNLOADS on Democrats and Biden's MENTAL HEALTH!!
85.1K116 -
44:30
Michael Franzese
2 days agoCancel Culture Backlash of My UK Tour | Michael Franzese
144K52 -
35:12
Island Hopper TV
1 day ago $13.34 earnedFull Costa Rica Travel Guide 2024
96.6K33 -
4:43
ParisDemers
1 day agoThis Diet Hack Changed My Life! (How To Get Ripped FAST!)
101K32