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Demystifying the Petrodollar Scheme with Alex Gladstein (WiM082)
The "What is Money?" Show
What Are the Arabs Going to Do With This?
Oil, which had been about two dollars a barrel for a long time, sky rocketed slike ten, 11, 12 dollars a barrel in late 73. The oil exporters had an account surplus of enty billion, up from seven billion the year before. So basically it resulted in a pieace time redistribution of global wealth on a scale that hadn't been seen in living memory.
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