The PetroDollar has Officially Expired


The Petrodollar deal has expired.
As part of the effort to maintain the World Reserve Currency dominance of the US Dollar, Sec of State Henry Kissinger in 1974 brokered a 50 year deal with the Saudis for oil trade would be dominated by US Dollars.

This was needed after loss in confidence in the US Dollar after Nixon “temporarily” suspended the Gold Standard in August 1971.

Now there is no Gold Standard and there is no PetroDollar. Another crack in the dominance of the US Dollar.