The petro-dollar. That’s what it’s about. It’s a confusing thing, but it kind of functions like a gold standard. The value of the dollar is pegged to OPEC oil. It will make more sense if you read further into how it works.
So if you want a new global currency, and you want a smooth transition, you really can’t do it without the Saudis. With them on board, agreeing to the tie between the currency and their oil, a new currency is legitimately possible.
The petro-dollar. That’s what it’s about. It’s a confusing thing, but it kind of functions like a gold standard. The value of the dollar is pegged to OPEC oil. It will make more sense if you read further into how it works.
So if you want a new global currency, and you want a smooth transition, you really can’t do it without the Saudis. With them on board, agreeing to the tie between the currency and their oil, a new currency is legitimately possible.