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Again, please look into the details of petrodollar hegemony before responding. It is the primary purpose of the USD as a global reserve currency.
by lowkey 4y ago
Again, please look into the details of petrodollar hegemony before responding. It is the primary purpose of the USD as a global reserve currency.
- danShumway 4y agoAgain, please understand that a mechanism for exerting control over a market is not the same thing as the primary reason for exerting control over a market. USD is in part a method to exert control over the oil industry. You are asking me to believe that if it went away, the US would throw up its arms, get rid of a substantial portion of its military, and stop trying to control the oil market. That's not a reasonable claim to make, there is no possible world where this would play out the way you're describing. Do not confuse a mechanism with a motivation.