Comment by throwaway2026-2
4 days ago
I would say we are not a Democracy and it doesn't matter who we vote for. I think it will take a full on dollar collapse to end it, and I think Washington would sacrifice every one of us to not lose grip on power.
Perhaps Venezuela is just a reaction to the action that is already happening, namely a world-wide concerted effort to abandon the petrodollar…
> Perhaps Venezuela is just a reaction to the action that is already happening, namely a world-wide concerted effort to abandon the petrodollar…
The petrodollar hypothesis is obsolete. It has been since America became an oil exporter.
The way you're presenting it, it's never been the case. Petrodollars let America finance a massive military. The military gives it power. We aren't sanctioning Venezuela into submission. We're bombing it.
Also, oil has been traded in non-dollars for ages. I've personaly done it at a bank trading desk in Connecticut.
What, per your reckoning, is the petrodollar hypothesis?
I see it as the world starting to become very unwilling to trade anything at all with the US, and moving to other currencies and finance systems for trade and economic transfer.
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