Tag: 50-year
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Mohammed bin Salman Makes Stunning Announcement That Saudi Arabia Will Not Be Renewing 50-Year Old Petro Dollar Deal With United States
The petrodollar system originated during the Yom Kippur war in 1973 when the US, facing economic challenges and an oil embargo, struck a deal with Saudi Arabia. One of the main things that gives the United States global dominance is the fact that the US dollar is the world’s reserve currency. In 1973, the Petro Dollar System…