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Last one to try to circumvent the petrodollar was Ghadaffi. It seems China now takes the opportunity of the current political climate to try it themselves. (Pe
by mahrain 9y ago
Last one to try to circumvent the petrodollar was Ghadaffi. It seems China now takes the opportunity of the current political climate to try it themselves.
(Petrodollar principle is explained well by Adam Curtis' documentary "Bitter Lake")
- barry-cotter 9y agoQaddafi's mistake was in giving up WMDs not trying to price oil in something other than dollars. Saddam is gone, Qaddafi is gone, Kim, Assad and Iran are still there. Never, ever give up WMDs.
- appleflaxen 9y agothat is an amazing point. the lesson to future authoritarians is clear, isn't it.