Published Sep 7, 2026, 1:48 AM ET · Updated 2 months ago · 1 source
Failure of the petrodollar system
Youtube
·
Original Report
The petrodollar system, where Middle Eastern energy producers sell oil in US dollars and reinvest profits into US Treasury bonds, is failing due to the closure of the Strait of Hormuz halting oil exports from Gulf states, drastically reducing their revenues and ability to purchase US bonds, while China and Russia are already trading outside the US dollar.