This could be a big step in the direction of displacing the US dollar as a global reserve currency, replacing it with the SDR. Maybe it is a non-event because the effects won't be instantaneous, but they very well might be game changers.
I am not an economist, nor could one easily convince me that the petrodollar and the artificially increased global demand for US dollars that result from it are insignificant. We will likely be seeing this change, soon. This all relates and touches on what seems to me, critical components of the world economy. Maybe a non-event - for a little while.
This could be a big step in the direction of displacing the US dollar as a global reserve currency, replacing it with the SDR. Maybe it is a non-event because the effects won't be instantaneous, but they very well might be game changers.
I am not an economist, nor could one easily convince me that the petrodollar and the artificially increased global demand for US dollars that result from it are insignificant. We will likely be seeing this change, soon. This all relates and touches on what seems to me, critical components of the world economy. Maybe a non-event - for a little while.