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USD can be used to buy Oil and LNG. That's most of it. Euro buys oil in USD and then the USD goes into treasuries. It's called Petrodollar Recycling[1]. [1
by narrator 4y ago
USD can be used to buy Oil and LNG. That's most of it. Euro buys oil in USD and then the USD goes into treasuries. It's called Petrodollar Recycling[1].
[1] https://en.wikipedia.org/wiki/Petrodollar_recycling https://en.wikipedia.org/wiki/Petrodollar_recycling