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Putin is just laying his cards on the table.

The petrodollar is the backbone of US strategic defense. If every drop of oil sold has to be settled in USD, then the world will always need it, and the USA can export inflation by printing more and gaming oil reserves.

Settling oil in other currencies would cripple the USA (and would wobble the whole world), especially if the players started settling in something weird, like gold. Libya was about to do that, but got a bit derailed . . .

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Subject Views Written By Posted
Putin says U.S. actions driving the world away from the dollar 294 Eddie Larry 16-Dec-18 18:35
Re: Putin says U.S. actions driving the world away from the dollar 73 Warwick 16-Dec-18 21:26
Re: Putin says U.S. actions driving the world away from the dollar 74 Jock 16-Dec-18 21:46
Re: Putin says U.S. actions driving the world away from the dollar 99 drrayeye 17-Dec-18 00:58
Re: Putin says U.S. actions driving the world away from the dollar 114 Eddie Larry 18-Dec-18 01:08


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