Obama and Biden are destroying this country economically and around the world with their insane push to help Iran build a nuclear weapon.
The US has benefitted from having the USD the currency used for oil transactions worldwide. This ‘petrodollar’ arrangement was put in place in the 1970s when Kissinger and Nixon made a deal with the Saudis to provide them arms and protection in return for oil being traded in USD. This deal helped increase demand for the USD and helped the Saudis defend themselves in a very volatile region of the world.
The US protected the Saudis for decades while benefitting economically from the petrodollar. There is speculation, if not evidence, that the 9-11 terrorists had ties with the Saudis but this never came out. Was this an economic decision to protect the petrodollar?
Whatever the reason, the petrodollar was in place for decades. Then along came the Obama – Biden Administration and their affinity for Iran. Obama did everything he could for Iran and eventually gave the terrorist nation billions and the ability to continue its nuclear bomb research and development unabated.
Back in 2014 under Obama/Biden, people were worried about the petrodollar. When Obama and Biden helped Iran, they pushed the Saudis away. (This video explaining the petrodollar is from that time.)
This is not just about Ukraine. That’s just part of it. It’s about the Petrodollar. Bitcoin and Ethereum are a distraction/prototypes/toys. I’m buying XRP , XLM & Gold. WATCH TO THE END. pic.twitter.com/YYvwbyplXR
— Digital Asset Investor (@digitalassetbuy) February 28, 2022
No wonder why the Saudis danced when President Trump joined them early in his Administration and offered arms while standing with them against Iran.
But after the 2020 Election steal and the worst surrender in world history in Afghanistan, the Saudis likely knew they had to make some changes. This is when the Saudis aligned with Russia. Now the petrodollar may go by the wayside as some fear Russia and the Saudis have already made an arrangement to trade oil outside of the dollar.
Obama and Biden are destroying the US economy, the petrodollar, Afghanistan, and Ukraine by siding with terrorist nation Iran.
Thanks to Obama and Biden the Saudis have more faith in Russia now than in the US and this will severely hurt the US economy once oil is traded in currencies other than the dollar.