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I don’t think that’s true. Sure the petrodollar might be a small boost but it’s hardly what’s propping up the super power status. The US has a ton of soft and h

I don’t think that’s true. Sure the petrodollar might be a small boost but it’s hardly what’s propping up the super power status. The US has a ton of soft and hard power still. Military, internal market, businesses, banks, the justice system, etc are all orders of magnitude more important for the hegemony

lucian1900 6y ago
And yet countries get sanctioned, coup-ed or invaded when they threaten the petrodollar. The military enforces the petrodollar, which makes the USD the world’s reserve currency. That means the US can take advantage of extremely low prices on all imports to placate a large portion of the population, while still extracting vast profits from the rest of the world through export of capital at extortionate interest rates. US domestic production besides military, oil or banks is almost negligible.
- sthnblllII 6y ago
  >US domestic production besides military, oil or banks is almost negligible. This is false.