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angrychair

(12,409 posts)

6. Beginning of the end for Petro-dollar?

Reply to demmiblue (Original post)

Tue Apr 28, 2026, 12:02 PM

Yesterday

News media glazing these types of news stories like it's a good thing for the US is bonkers. OPEC is, very literally, the only thing holding up the dollar as a standard in oil trade.

Anyone that doesn't know, the only thing propping up the value of dollar's trade value is the oil being bought and sold with US dollars.

Without it we are likely to fall into serious debt and interest rates are likely to climb to rates not seen in decades.

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Cheezoholic

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