Skip to main content
WeLoveTrump.com may receive compensation from affiliate partners for some links on the site. Read our full Disclosure here.

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


7,003 views

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:

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.”

 

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



 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!