The 50-Year Saudi "PetroDollar" Ends Today, June 9, 2024

Today marks a monumental shift in the global economic landscape. For the past 50 years, the PetroDollar system has underpinned the United States' economic dominance. As of today, June 9, 2024, this era comes to an end. This is not merely a financial adjustment - it's a significant change that could impact the standard of living in the United States and around the world.

What is the PetroDollar?

The PetroDollar agreement was a financial system established in 1974 between the United States and Saudi Arabia. Under this agreement, Saudi Arabia would sell oil exclusively in U.S. dollars, and in return, the U.S. would provide military support and economic aid. This arrangement helped cement the U.S. dollar as the world's primary reserve currency, giving the United States unparalleled financial leverage.

Why Does It Matter?

The PetroDollar system has been a cornerstone of American economic strength. It has ensured a constant demand...

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