| Since the early 1970s, most major oil deals have been transacted in “petrodollars.” But that system has become increasingly challenged in recent years. The conflict in Ukraine right now has only served to exacerbate things.
As America leads the charge to impose Western sanctions on Russia, it’s a plan that’s not only backfiring, but leading to opportunities for those who understand the consequences. After Nixon infamously closed the gold window in 1971, something needed to be done to retain the U.S. dollar’s status as world reserve currency...............................................Full Article: Source
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