
China brokers Iran-Saudi peace: big blow to petrodollar, geopolitical game changer
Geopolitical Economy Report
00:00
The United States Imports Way More Than It Exports
The United States has had a massive current account deficit, which normally means that its currency would devalue over time. But because Saudi Arabia agreed to sell its oil as the world's largest oil producer, it meant that countries around the world that import oil and other commodities had to get dollars in order to pay for them. The US maintain this system through military interventions, wars, organizing coups in independent countries,. regime change operations, destabilizing anyone that challenged the hegemony of the U.S empire. And Saudi Arabia was a key player in this system.
Transcript
Play full episode