Then the dollar collapses and takes every economy that trades with the U.S. down with it. That's like punching yourself in the face to spite your hand. Yeah the U.S. has massive debt, but so do other countries.
Then the dollar collapses and takes every economy that trades with the U.S. down with it. That's like punching yourself in the face to spite your hand. Yeah the U.S. has massive debt, but so do other countries.
I'm not talking about if the petrodollar collapsing is bad for other countries or not, just the fact that it has collapsed. The petrodollar was a system built where all oil contracts anywhere between any country were settled in dollars. That is no longer the case. China, Russia, India, and Saudi Arabia are all now trading oil in currencies other than the dollar.
I'm not talking about if the petrodollar collapsing is bad for other countries or not, just the fact that it has collapsed. The petrodollar was a system built where all oil contracts anywhere between any country were settled in dollars. That is no longer the case. China, Russia, India, and Saudi Arabia are all now trading oil in currencies other than the dollar.
Which one, rubles, yuan?
Which one, rubles, yuan?
Yes
Yes
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