Unlimited Hangout with Whitney Webb Sanctions & the End of a Financial Era with John Titus
28 snips
Apr 19, 2022 AI Snips
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Dollar's Dominance in Jeopardy
- Jerome Powell admitted that the US dollar's reserve currency status could change.
- He cited low inflation and rule of law as key factors, both now questionable.
Impact of Dollar Decline on Americans
- Losing reserve currency status means overseas US dollars will return.
- This influx, part of the US monetary base, will likely worsen inflation.
Petrodollar System at Risk
- The petrodollar system requires oil transactions in US dollars, supporting dollar demand.
- Saudi Arabia and UAE's resistance to US sanctions jeopardizes this system.