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The '''Petrodollar''' refers to [[U.S. Dollar]]s (USD) originally received by [[oil]]-exporting countries for their [[crude oil]] exports. The term emerged in the 1970s when oil prices surged, leading to significant revenues for these nations. Today it refers to all US Dollar denominated assets and currency outside the [[United States]].
The '''Petrodollar''' refers to [[U.S. Dollar]]s (USD) originally received by [[oil]]-exporting countries for their [[crude oil]] exports. The term emerged in the 1970s when oil prices surged, leading to significant revenues for these nations. Today it refers to all US Dollar denominated assets and currency outside the [[United States]].
In the modern world the petrodollar system essentially [[export]]s [[US]] [[inflation]] and [[economic]] problems while simultaneously plundering the rest of the [[planet]] of its natural resources and manufactured goods.
In the modern world the petrodollar system essentially [[export]]s [[US]] [[inflation]] and [[economic]] problems while simultaneously plundering the rest of the [[planet]] of its natural resources and manufactured goods.<ref>[[Joe Biden]]: [https://youtu.be/VBn4rEGsYUQ Inflation. It's a Great Asset. What stupid SOB].</ref>
==Origins==
==Origins==