The U.S. Is Facing A Major Challenge As Petrodollar Loses Force | OilPrice.com
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In a press conference on January 17, Saudi Finance Minister al-Jadaan signaled that his country is open to trade crude in other currencies than the dollar, a signal that the petrodollar is no longer the one-and-only currency in energy trade

It will probably continue to outlive its welcome, but the storyline regarding Saudi Arabia and the seemingly terminally ill petrodollar gives us hope that US hegemony cannot last forever. It’s fun that the Mises Institute is concerned lol

  • Rye@lemmygrad.ml
    5·
    2 years ago

    I’m surprised they didn’t mention argentina and brazil creating a common currency, with the goal of creating an EU-like currency union for south america. despite that its still optimistic about the dollars future

    • CountryBreakfast@lemmygrad.mlOP
      4·
      2 years ago

      No way it collapes within the next year. Maybe 5-10?

      There could be some kind of solution that is presented that prolongs the dollar but the war in Ukraine has emboldened BRICS to be more proactive in establishing an alternative and Saudi Arabia falling out with the US suggests the petrodollar is dying. The petrodollar collapse is like the canary dying in a mine, it doesn’t mean the immediate collapes of the dollar but it signals real danger ahead.