Start the conversation
Comment on This Story
Or to contact Money Morning Customer Service, click here.
Countries across the world denominate oil export revenue in U.S. dollars – the "petrodollar."
This system props up the U.S. dollar's value because it creates demand for the dollar.
But recent developments beg the question, "Will the petrodollar collapse in 2015?"
Watch the video to see how the world's largest energy exporter and largest importer are working together to bring down the petrodollar – and shift away from the U.S. dollar:
This video is our second installment in a series profiling five looming threats to the U.S. dollar. Watch them all here:
How U.S. Debt to China Threatens the Dollar
The Chinese Economy Faces This $5 Trillion Threat
China Gold Reserves Threaten the U.S. Dollar
Add to this America's aggressive behaviour towards Euro Banks; sanctions in the billions of dollars; the beginning of an aggressive posture towards Venezuela; the NSA scandals; total impotence in Iraq, Syria and Yemen; playing the tough guy (sanctions) with Russia WILL bring forth a retaliation sooner or later; punishing the Caribbean islands by threatening to cut off correspondent banking because of their ties with Venezuela with whom they are dependent for cheap oil-gas; the FATCA; aggressive moves such as DOJ getting involved with indicting FIFA execs because of their use of the US Dollar and US banks; History proves that… Read more »