Demise of the Petrodollar
If you're not quite sure what the Petrodollar is, it's pretty uncomplicated. Back in the 1970's, at the height of the oil crisis, United States President Richard Nixon conceived an economic master plan. He offered to help defend Saudi Arabia from their burgeoning Middle East rivals. In exchange for that promise, the Saudi kingdom assured all of its oil production be traded in USD (energyandcapital.com). This strategic stroke of genius