Hollywood is no stranger to war propaganda but the U.S. Establishment saw no need to wait for an actual war before sending Morgan Freeman out to tell Americans that they “have been attacked” and are “at war” with Russia–whose sin has been an “attack” on the U.S. petrodollar. On Tuesday, Russian President Vladimir Putin dealt another Read More…
Tag: petrodollar
The Petrodollar Is Under Attack: Here’s What You Need To Know
Once upon a time, the U.S. dollar was backed by the gold standard in a framework that established what was known as the Bretton-Woods agreement, made in 1944. The dollar was fixed to gold at a price of $35 an ounce, though the dollar could earn interest, marking one notable difference from gold. The system ended up Read More…
Putin Orders End To US Dollar Trade At Russian Seaports
Whether in response to rising scorching tensions with the US, or simply to provide support for the ruble, on Tuesday Russian President Vladimir Putin instructed the government to approve legislation making the ruble the main currency of exchange at all Russian seaports by next year, RT reported citing the Kremlin website. The head of Russian antitrust watchdog FAS Read More…
Venezuela Accused Of Drug Peddling After Dropping U.S.’ Petrodollar Trade Scheme
U.S. President Donald Trump recently signed a determination that singles out Venezuela for failing to adhere to counternarcotics obligations. The accusation came – perhaps not so coincidentally – on the same day that Venezuela declared it will no longer participate in the U.S.’ petrodollar trade system. In what is set to be a major blow to Read More…
Venezuela Just Officially Stopped Accepting Dollars For Oil Payments
Did the doomsday clock on the petrodollar (and implicitly US hegemony) just tick one more minute closer to midnight? Apparently confirming what President Maduro had warned following the recent US sanctions, The Wall Street Journal reports that Venezuela has officially stopped accepting US Dollars as payment for its crude oil exports. As we previously noted, Venezuelan President Nicolas Maduro said Read More…
Venezuela Is About To Ditch The Dollar In Major Blow To US: Here’s Why It Matters
Venezuelan President Nicolas Maduro said Thursday that Venezuela will be looking to “free” itself from the U.S. dollar next week, Reuters reports. According to the outlet, Maduro will look to use the weakest of two official foreign exchange regimes (essentially the way Venezuela will manage its currency in relation to other currencies and the foreign exchange market), along Read More…