Well, China is of course going to love breaking up the Petrodollar.
WanderingThoughts@europe.pub
on 14 Mar 17:17
collapse
There are enough rumours USA wanted to invade Iran especially to keep the Petrodollar going (like their seven countries in five years thing), and Trump is doing it partially for that reason, but of course he does it in such a ham-fisted incompetent way it’ll probably yield the opposite effect.
Unsurprising. If the war ends with the dollar having lost its place as the world’s reserve currency (only propped up by oil sales currently), then this would be the biggest defeat of the US in their history because it would mark the end of American global hegemony. I’m not sure that’s a good outcome for the world but it would be the result nonetheless.
threaded - newest
Well, China is of course going to love breaking up the Petrodollar.
There are enough rumours USA wanted to invade Iran especially to keep the Petrodollar going (like their seven countries in five years thing), and Trump is doing it partially for that reason, but of course he does it in such a ham-fisted incompetent way it’ll probably yield the opposite effect.
Unsurprising. If the war ends with the dollar having lost its place as the world’s reserve currency (only propped up by oil sales currently), then this would be the biggest defeat of the US in their history because it would mark the end of American global hegemony. I’m not sure that’s a good outcome for the world but it would be the result nonetheless.