WATCH: The Fall Of The Petrodollar—What The Russian-Ukraine Conflict Is Truly About

I have long since warned of Russia’s move away from the U.S. Dollar and an end to the petrodollar system…

In case you missed it, oil bought and sold internationally requires that it be bought and sold using the U.S. Dollar—a stipulation which both drives demand for the Dollar, and ensures U.S. hegemony.

Before the invasion and regime change in Iraq around 2003, it was reported that Sadam Hussein was attempting to trade oil in gold, and many suspect that this is why the Bush administration invaded Iraq.

All of us now know that their “weapons of mass destruction” narrative was completely fraudulent and simply a false pretense for the neocons to invade Iraq.

Public support for the war in the beginning was immense—especially from conservatives.  State propaganda like “support the troops” appeared everywhere, and if you didn’t support the war you were anti-American.

The parallels between the jingoism of 2003, and this new liberal-led jingoism cannot be ignored. Likewise, the situation surrounding threats to the petrodollar system, and the similarities between the two situations cannot be ignored.

Here’s what Kim Iversen of The Hill recently had to say about the current conflict in the region:

Russia is developing an alternate version of the SWIFT banking system that circumvents the petrodollar. Turns out that China, India, Brazil & other major partners are joining this alternate international banking system according to RT economic journalist, Ben Swann. 1/2

— E Pluribus Regnum (@tedderukan) March 2, 2022

No wonder Empire is thrashing about wildly! India, China Russia & Brazil make up almost half the world's population & can easily overcome Western Imperialism w/ just a little more development, which China's Belt & Road Initiative covers.

Multipolarity is all but inevitable. 2/2

— E Pluribus Regnum (@tedderukan) March 2, 2022

Coin Telegraph reported this on October 19th 2021:

The official said that MFA Russia isn’t excluding the possibility of replacing the U.S. dollar with “some digital assets” alongside other currencies:

“It’s possible to replace the U.S. dollar with other currencies, both national and regional, as well as some digital assets in the long term.”

 

Not quite the end of the petrodollar, but certainly the beginning of the end…

The U.S. needs a form of "outside money" that doesn't help Russia and China win as the global monetary system shifts to a new regime…

Zoltan is almost there… #bitcoin pic.twitter.com/5l18E3Q43W

— Matthew Pines (@matthew_pines) March 8, 2022

If true RIP Petrodollar.

The west fucked up with the SWIFT sanctions.

Oil Rich royal families are seeing what's happening to the Russian Oligarchs and are getting nervous about their yachts and piles of US Dollars sitting in banks.

Today its Russia, tomorrow it could be them. pic.twitter.com/zvcSdc1CUg

— Happy Sandwich (@H4ppysandwich) March 9, 2022

One user explained the petrodollar system more in depth via their Substack:

While the U.S. is convincing Europe to end Russian oil imports, China has already started accepting Russian oil tankers and settling the trades with cash.

As Russia is the third largest oil producer after the U.S. and Saudi Arabia, a boycott on Russian oil will likely continue pushing the world away from the U.S. petrodollar system.3 The petrodollar system is based on an agreement the U.S. made with Saudi Arabia in 1971, standardizing the sale of oil in U.S. dollars.

Countries buying oil maintain reserves in U.S. dollars and countries selling oil brought in U.S. dollars, creating a system increasing the demand for U.S. assets. Petrodollar recycling has maintained the dollar as the world reserve currency for decades.4