It would be spectacular if Iran destroys the petrodollar.
The US economy has been essentially immune to such crashes because they can just print more money since everyone trades in USD. 2008 was financially devastating for the average person, but banks maked a metric ton of money and the government bailed them out of any losses.
But one of the big reasons everyone trades in USD is because all of the oil shill states only sell for USD, and they only sell for USD so they can invest it directly into the US economy.
If buying oil from said shill states is no longer an option, there’s no reason to keep using USD since the alternatives are Russia, Iran, and formerly Venezuela.
It would be spectacular if Iran destroys the petrodollar.
The US economy has been essentially immune to such crashes because they can just print more money since everyone trades in USD. 2008 was financially devastating for the average person, but banks maked a metric ton of money and the government bailed them out of any losses.
But one of the big reasons everyone trades in USD is because all of the oil shill states only sell for USD, and they only sell for USD so they can invest it directly into the US economy.
If buying oil from said shill states is no longer an option, there’s no reason to keep using USD since the alternatives are Russia, Iran, and formerly Venezuela.