Recycling of petrodollars is beneficial to the greenback because it promotes non-inflationary growth.
Which is another way of saying our government blinks exorbitant amounts of money into existence in the form of debt, and then offloads the inflation to other nations, while charging their own citizens interest.
And ya, it's definitely no coincidence that many Arab countries are actively seeking to undermine US dollar hegemony by trading oil in Euros. That's the same thing Saddam tried to do with the oil for food program, just prior to his violent death at the hands of the US military. And just like Gaddafi tried to do just prior to his violent death...at the hands of the US military.
I mean, who do these people think they are, sovereign nations?
One of the bullet points for that article is:
Recycling of petrodollars is beneficial to the greenback because it promotes non-inflationary growth.
Which is another way of saying our government blinks exorbitant amounts of money into existence in the form of debt, and then offloads the inflation to other nations, while charging their own citizens interest.
And ya, it's definitely no coincidence that many Arab countries are actively seeking to undermine US dollar hegemony by trading oil in Euros. That's the same thing Saddam tried to do with the oil for food program, just prior to his violent death at the hands of the US military. And just like Gaddafi tried to do just prior to his violent death...at the hands of the US military.
I mean, who do these people think they are, sovereign nations?