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As the U.S. starves it of oil, Cuba is pulling off one of the fastest solar revolutions on the planet — with China’s help (www.ctvnews.ca)
submitted 4 months ago by to c/technology@lemmy.world
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[–] 8 points 4 months ago (2 children)

The US govt has a responsibility to keep the PetroDollar in tact since Nixon killed the gold standard, otherwise the global dependency on USD is no longer maintained and other currencies have a chance to replace it.

This is currently happening, ofc, with ships crossing Hormuz by paying Yuan instead of Dollars.

Now that UAE has shown other countries how to leave OPEC, USD (read: everyday Americans) might be royallyfucked but at least USA might be able to move away from microplastics and pollution.

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  • [–] 5 points 4 months ago (1 child)

    The US govt has a responsibility to keep the PetroDollar in tact since Nixon killed the gold standard, otherwise the global dependency on USD is no longer maintained and other currencies have a chance to replace it.

    This 100%.

    US Govt is propped up on debt. We have no financial discipline today and none is anywhere in sight. If our currency loses value we're mega-fucked.

    If petrodollar goes away, our currency loses a lot of credibility. And we are doing everything possible to ensure that everyone involved wants nothing to do with us.

    Great strategy :)

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