Buckle up America!

[sunfire]

Since the end of World War Two, the United States of America has enjoyed being a world super power. The Petrodollar is a major part of why the US dollar has been the world's reserve currency, but that is about to change significantly

Comments

[mondhasen]

Give this some time to settle out. Not all news networks are in agreement-


Reports of the petrodollar system's demise are 'fake news' - here's why | Morningstar

www.morningstar.com

https://www.morningstar.com/news/marketwatch/20240615261/reports-of-the-petrodollar-systems-demise-are-fake-news-heres-why

I’ll still be cautious :o)

[sunfire]

I take anything in the "media" with a grain of salt, but I've never put a lot of stock in anything that Marketwatch puts out.

"The U.S. dollar strengthened against its rivals this week, with the ICE U.S. Dollar Index DXY gaining 0.6% to 105.51, its strongest level in more than a month, according to FactSet data."

The dollar lost twenty-six percent of its buying power since Biden took office. BRICS wouldn't be doing what they are if the petrodollar was a myth. With us being over thirty-four trillion in debt, the dollar has already lost most of its value. What I wouldn't give to have the buying power the dollar had back in the 1950's!