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I had always heard that it was because it enforces the denomination of oil trade in USD, and so enshrines the USD as global reserve currency.
by ericd 7y ago
I had always heard that it was because it enforces the denomination of oil trade in USD, and so enshrines the USD as global reserve currency.
- jhallenworld 7y agoI agree, but also they provide a huge amount of corporate welfare in the form of arms sales and political welfare in the form of lobbying.