I have long warned of the collapse of the petrodollar reserve system that currently undergirds the global economic system.
Up until very recently, every nation on the planet coveted and hoarded U.S. dollars to settle oil transactions—all countries were required to sell and buy oil in U.S. dollars—massively driving up demand for the currency. …
Hence the term ‘global reserve currency’—the dollar was the common denominator in global energy trade.
However, due to rampant monetary printing, sustained military campaigns abroad, and the Biden administration’s absolute weakness, that system has now collapsed. …
You won’t hear these exact words in the news, yet this is exactly what has happened. …
Early last year, Russia announced that it would price oil in rubles, and Saudi Arabia also announced similar plans to move away from the U.S. dollar in favor of the Chinese…
