The Truth About What Is Happening To The Petrodollar

The Truth About What Is Happening To The Petrodollar - MICHAEL SNYDER

"...Today, most oil continues to be sold in U.S. dollars, and most global trade continues to be conducted in U.S. dollars. 

But that could change as other countries lose faith in our currency. 

• In particular, we will want to carefully watch what the BRICS nations choose to do. 
• 45 percent of the world’s inhabitants live in the BRICS nations, and they have been implementing strategies that are designed to promote their own currencies and reduce dependence on the U.S. dollar. 

As U.S. relations with leading BRICS nations continue to deteriorate, I would expect that trend to accelerate.
So I am not optimistic about the future of the petrodollar at all...