Reality Check: What Is The Petro-dollar and Why Is China Trying To Destroy It?
This is why we’ve been at war in the Middle East for the last 2 decades. Iraq, Iran, Libya and others have been trying to move off the dollar and on to other standards like Gold Euros or Dinars.
When I was younger, I was foolish. I was well aware of how the system works and I considered it brilliant. I was a fan of how we create wealth from nothing by creating trade agreements with strategic countries.
And when we invaded Iraq, I wasn’t a fan, but I knew the purpose. I knew it wasn’t WMDs and yet I was sort of okay with it at the time. I thought we were protecting our own best interest and that if we didn’t, China would and it would endanger the American economy.
Now I realize that the only thing that locks us into such a system is our fiat currency and the Federal Reserve. Without these, we would be able to maintain our economic dominance without the constant threat of violence towards our “partners”