If You Dont Understand the Petrodollar, You Dont Understand Geopolitics [gEzBJHf9yuT]
Trump's War in Iran has sparked global fears about the economy. If the Strait of Hormuz were to remain closed, and Dubai, Saudi Arabia, UAE and the other Gulf states continue to come under attack, global oil prices could surge. Why has Trump launched this attack on Iran now? Everything comes back to the US Petrodollar system. Oil is at the root of everything. It's been the basis of our global economy since the Second World War. But what actually is the Petrodollar system? How does it work? Why was it put in place? What's the future of the Petrodollar? In this video, we dive into the topic. Keeping the Petrodollar afloat explains all the US foreign policy, and all geopolitics, for more than 70 years. Everything from the first Gulf War, to the War in Iraq, to Russia's invasion of Ukraine, to the current War with Iran. 00:00 - Introduction 00:30 - Why Is Oil So Important? 01:17 - How the US Dollar Controlled Global Economy 01:53 - Gold Standard and The Nixon Shock 02:44 - Global Reserve Currency 03:20 - Petrodollar Agreement with the Saudis 04:00 - How the Petrodollar System Works 05:00 - Petrodollar Recycling 05:43 - Future of the Petrodollar 06:06 - Why Hostile Countries Trade In Dollars 06:50 - China and Russia 🔔 Subscribe for more finance and economics content: @LockStockFinance #iran #petrodollar #geopolitics #trump #saudiarabia #uae #dubai #oil #money #economy