Opinion: The End Of An Era: Is The US Petrodollar Under Threat?
Green Car Congress
OCTOBER 31, 2014
Nixon negotiated a deal with Saudi Arabia whereby in exchange for arms and protection, the Saudis would denominate all future sales of oil in US dollars. That may be a stretch, but Katusa’s US dollar reference shows that any developments that point to a move away from the dominance of the greenback are not going un-noticed.
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