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submitted 3 months ago* (last edited 3 months ago) by Leyla@lemmy.world to c/world@lemmy.world
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[-] steven@infosec.pub 2 points 3 months ago

Just having allies sell oil for dollars instead of some other currency already helps the US a lot. It's called seigniorage, the more people use the US dollar, the more they can print without feeling much inflation. The whole gulf war was fought to ensure those countries traded oil in US dollar.

In the last year or two, several countries have traded oil for another currency for the first time in ages. Which is big. With Iran sponsoring Palestine a lot, they might have similar ideas. The Arabs of all people understand the oppressive tactics of the US and their currency.

this post was submitted on 21 Nov 2023
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