The Rise and Fall of the Petrodollar
Thanks to some quick thinking from previous Presidents, the U.S. dollar, backed by oil, became the international standard, dominating the world. Now, however, America’s “petrodollar” may be closer to failing than we think. From FAI Mission. PEGGING THE GOLD DOLLAR July, 1944. As the Allies pushed inland from the Normandy coast towards Nazi-occupied Paris, a … Continued