If You Don't Understand the Petrodollar, You Don't Understand Geopolitics

Trump's War in Iran has sparked global fears about the economy. If the Strait of Hormuz were to remain closed, and Dubai, Saudi Arabia, UAE and the other Gulf states continue to come under attack, global oil prices could surge.

Why has Trump launched this attack on Iran now?

Everything comes back to the US Petrodollar system. Oil is at the root of everything. It's been the basis of our global economy since the Second World War.

But what actually is the Petrodollar system? How does it work? Why was it put in place? What's the future of the Petrodollar?

In this video, we dive into the topic. Keeping the Petrodollar afloat explains all the US foreign policy, and all geopolitics, for more than 70 years. Everything from the first Gulf War, to the War in Iraq, to Russia's invasion of Ukraine, to the current War with Iran.

00:00 - Introduction
00:30 - Why Is Oil So Important?
01:17 - How the US Dollar Controlled Global Economy
01:53 - Gold Standard and The Nixon Shock
02:44 - Global Reserve Currency
03:20 - Petrodollar Agreement with the Saudis
04:00 - How the Petrodollar System Works
05:00 - Petrodollar Recycling
05:43 - Future of the Petrodollar
06:06 - Why Hostile Countries Trade In Dollars
06:50 - China and Russia

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