C.

This has got to have a bunch of the elites in banking, politics, and the rest of the corrupt moneyed establishment shaking in their boots, as they say.

https://europeanbusinessmagazine.com/business/iran-has-just-fired-the-most-dangerous-shot-of-this-war-and-it-wasnt-a-missile/

In short: the USA has enjoyed a privileged position since the end of WWII, because the #US #dollar has been the de-facto standard international #currency. Not just for trade, but as a reserve as well. Other countries buy US-issued government #bonds by the absolute truckload, and it lets the US spend far above its income without triggering the #hyperinflation you see when another country does that by printing money (see: Zimbabwe).

The foundation of that international currency choice is the oil trade. Pretty much every oil transaction between parties in different countries uses US dollars, hence the "petrodollar' name.

#Chinese yuan becoming an alternate global reserve and trading currency has been a worry for the US for some years now. Oil transactions happening in #yuan could make it happen in a big way.

And then the dominoes might start falling. I'd say "popcorn time", but the collateral damage to the US #economy collapsing will have huge consequences for us all.

#GovernmentBonds #USBonds #ReserveCurrency #USFederalReserve #USPol #Iran

Iran Has Just Fired the Most Dangerous Shot of This War and it wasn't a missile

Iran is considering allowing a limited number of oil tankers to pass through the Strait of Hormuz on the condition that the cargo is traded in Chinese yuan, a senior Iranian official told CNN

European Business Magazine
Mar 16 at 4:12pmWeb
Show threadCaptain Jack Sparrow3d ago

@cazabon

Iraq: The Euro Switch and the 2003 Invasion

In 2000, Iraq under Saddam Hussein announced it would sell oil in euros rather than dollars under the UN’s Oil-for-Food Programme. This move, if replicated by other producers, risked weakening dollar dominance.

Three years later, the US invaded Iraq, citing weapons of mass destruction and terrorism links—claims later shown to be unfounded. Shortly after the invasion, Iraqi oil sales were reverted to US dollars.

https://www.timesnownews.com/business-economy/economy/history-of-the-petrodollar-equation-why-us-wants-to-control-oil-reserves-around-the-world-explained-article-153402640

History of the Petrodollar Equation: Why US Wants To Control Oil Reserves Around The World - EXPLAINED

The petrodollar system, established in the 1970s, has been vital for US economic and geopolitical dominance by ensuring global oil trade is conducted in dollars.

Times Now