Petrodollar Collapse: The Invention, Rise and Fall of the Petrodollar
The word “petrodollar” doesn’t come up as much as it did before the turn of the century. However, it’s important to understand the petrodollar system because it explains how the U.S. dollar was able to retain its global reserve currency status even after defaulting on the gold standard.
What is the petrodollar?
The term…
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