Just Biden being an effective executive. I admire less talk and good action, but the Dems need to PR this kind of stuff loudly for the election. However, sadly, my bet is that they won’t.
The Russian shills a year ago were so sure that removing the dollar from the petroleum economy was about to tear down US hegemony, immediately and completely.
That’s odd. I never heard anything like that.
That’s strange there has been talk about it for years. Russia tried to switch to Ruble, and Iran and Venezuela tried to switch away from $ USD too.
It has had near zero effect AFAIK, because nobody wants to trade in unstable currencies. Maybe Russia has been moderately successful, but at the cost of having to sell well below market prices.
Use of the petrol dollar is contractual that is about to expire.
Why is the only place I ever see this called out sketchy websites pushing bitcoin and silver bars for sale? If this was real, and impactful, I’d expect to see multiple in-depth articles on The Financial Times, Bloomberg, and/or Wall Street Journal. Instead the closest references are in 2023 then 2021 and none of them talk about impending doom, but instead the challenges of nations were they to try to settle petroleum transactions in any other currency. In short, nobody else’s currency holds its value well enough so the only ones wanting an alternative are those that are trying to avoid US Sanctions, which is a fairly small group.
Sidenote: Text > Video
By far.
An experiment. Too often I find that people don’t read the article, so I posted a video. Turns out about the same percentage didn’t watch.
