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Is The Iran War Good For The Petrodollar?
Is The Iran War Good For The Petrodollar?
Diana Choyleva wrote an excellent editorial for the Wall Street Journal entitled “The Iran War Is A Boon For The Petrodollar.”
She pushes back against claims that the Iran conflict is accelerating the death of the petrodollar.
Instead, RealInvestmentAdvice.com points out that she argues the opposite: between Iran and Venezuela, the U.S. is defending and bolstering dollar dominance in the oil trade.
The 75-year-old petrodollar system rests on oil being priced and traded in dollars, which keeps the dollar prominent in all global trade.
China has...
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