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RichieAllen.co.uk Forum > On Topic > Biden's America > The Fall of the US Petrodollar
RichieAllen.co.uk Forum > On Topic > Biden's America > The Fall of the US Petrodollar

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The Fall of the US Petrodollar
Steve Offline
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04-19-2023, 04:44 PM
[Image: dollar-midas-gold-1681470195702.png?w=992&h=744]
Growing BRICS spells imminent end of US dollar
The dollar has functioned as the world’s reserve currency since 1921.  The chart below shows that each of the world’s six reserve currencies since 1400 lasted about 94 years. Since the US dollar has already lasted 102 years, it is not unusual that it is at the end of its reign now.
[Image: de-1-1681470274619.png?w=992&h=744]
The US dollar was backed by gold until 1933 when President Franklin Roosevelt confiscated America’s gold. President Richard Nixon took the US dollar completely off gold in 1971 when he pegged it instead to oil — creating the “petrodollar”. Nixon reached an agreement with the Middle East oil producing nations that they would sell their oil only in dollars — forcing all nations who purchased oil from them to use dollars. The chart below shows how much the purchasing power of the dollar has declined.
[Image: de-2-1681470299731.png?w=992&h=744]
WTF 1971? shows the enormous consequences of taking the dollar off the gold standard.
WTF Happened In 1971?
The economy changed because of what happened in 1971…



https://nexusnewsfeed.com/article/geopol...us-dollar/

https://www.activistpost.com/2023/04/gro...ollar.html
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Messages In This Thread
The Fall of the US Petrodollar - by Steve - 11-04-2022, 06:00 PM
RE: The Fall of the US Petrodollar - by Steve - 01-19-2023, 01:19 PM
RE: The Fall of the US Petrodollar - by Steve - 01-30-2023, 01:30 PM
RE: The Fall of the US Petrodollar - by Steve - 04-18-2023, 08:13 AM
RE: The Fall of the US Petrodollar - by Steve - 04-19-2023, 04:44 PM
RE: The Fall of the US Petrodollar - by Steve - 09-06-2023, 03:28 PM

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