The Petrador Euro Dollar System

The petrador system has been the defining characteristic of the last 50 years of the global political economy. It's starting to crack now, but I think it's worth noting that a lot of people call this the petrador euro dollar system which is actually pretty accurate. There was an enormous inflow of money into these like European dollars and nominated accounts - your dollar is outside of the federal reserves power in the US banking system. And as a result you had two things happen the dollar, which was floundering seriously in the early 70s became the bedrock and the numeraire for energy and for finance and the dollar your dollar system. Today now there's more euro dollars than dollars that there's