Why is the Petrodollar so important to the US Economy ???
Face it !!! The US is no longer a Great Industrial Nation - It No Longer Manufactures Many Goods that
many countries - and persons living in them - around the world need.
The Biggest Exports Of The US Are Now:
Planes (Military ???)
Helicopters AND/OR Space Craft (Military ???)
Cars (Other Countries Export More Affordable Cars)
Medicines (Germany, Switzerland, Ireland, Belgium - Luxembourg, the UK, Japan, Italy, Austria and Denmark Are Also Large Exporters Of Medicines. The US Has Lots Of Competition In This Category Of Exports)
The Biggest Imports Of US Are Now:
So what would all those countries do with ALL THE US DOLLARS THEY RECEIVE WHEN THE US
ECONOMY PURCHASES THEIR GOODS ???
Not Very Much - Since The US Economy Doesn't Produce A Lot Of Consumer Goods For Them To Buy With Those Paper US Dollars They Are Holding.
Henry Kissinger "Invented" The Petrodollar During His Position Of Secretary of State In NIXON's Administration.
Every Country In The World Needs OIL !!!
By Kissinger Having Oil Producing Countries Agree To Only Sell Their Oil Only In US Dollars
Every Country In The World Has To Keep A Supply Of US Dollars On Hand To Buy That Oil.
This Creates An Artificial Demand For US Dollars - Without Which The US Economy Would
Collapse Due To Hyperinflation !!!
ALL THE "PSYCHO'S WOULD LOSE CONTROL OF WORLD POWER !!!
Hyperinflation Is Defined As A Minimum MONTHLY Inflation of 50% Per Month.
HYPERINFLATION Occurred During The Weimar Republic In Post WW I Germany. At That Time Every Country Was On The Gold Standard - NOT ANY MORE THOUGH.
What Was Hyperinflation Like For The Average German Person In Weimar Germany ???