If my understanding of the Petrodollar is correct, the Saudis can basically kill the dollar with the flip of a switch. All they have to do is start selling oil in a currency other than USD.
You’re right, but we may see a situation where every country being leveraged by the US rebels. How does the US deal with Russia invading Ukraine, China invading Taiwan, and Saudi ditching the petrodollar all at the same time? Plus dozens of other smaller incidents that would pop up in the chaos.
If my understanding of the Petrodollar is correct, the Saudis can basically kill the dollar with the flip of a switch. All they have to do is start selling oil in a currency other than USD.
That didn't work out so well for Saddam, or Gaddafi.
You’re right, but we may see a situation where every country being leveraged by the US rebels. How does the US deal with Russia invading Ukraine, China invading Taiwan, and Saudi ditching the petrodollar all at the same time? Plus dozens of other smaller incidents that would pop up in the chaos.