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>> BRITISH PETROLEUM Latest News

OCT 24, 2013 - Zero Hedge

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Guest Post: The Growing Rift With Saudi Arabia Threatens To Severely Damage The Petrodollar

Submitted by Michael Snyder of The Economic Collapse blog, The number one American export is U.S. dollars.  It is paper currency that is backed up by absolutely nothing, but the rest of the world has been using it to trade with one another and so there is tremendous global demand for our dollars.  The linchpin of this system is the petrodollar.  For decades, if you have wanted to buy oil virtually anywhere in the world you have had to do so with U.S. dollars.  But if one of the biggest oil exporters on the planet, such as Saudi Arabia, decided to start accepting other ... Read More

Tags: Guest Post: The Growing Rift With Saudi Arabia Threatens To Severely Damage The Petrodollar,  British Petroleum Latest News