Is the Petrodollar a War Casualty or Death Greatly Exaggerated?
4 Articles
4 Articles
The closure of the Strait of Ormuz has the Persian Gulf economies at its neck. Countries that until the end of February were swimming in a sea of petrodollars are now deprived of their great source of income, limited or directly cancelled their exports of oil and gas. The recession threatens their economies and in the face of the difficulties of financing, they have already knocked on the door of the White House to secure a currency line with wh…
Is the petrodollar a war casualty or death greatly exaggerated?
Since the United States and Israel attacked Iran on February 28, the number of articles proclaiming the death of the petrodollar increased nearly as quickly as the price of oil. As a representative headline in the Japan Times declared, the Iran war “just broke the petrodollar.”These headlines only tell part of the story. There is little doubt that the war has done major damage to the petrodollar by driving up oil prices and U.S. bond yields, amo…
BREAKING: Regional War Erupts In Persian Gulf After U.S.-Israel Strikes On Iran
Analysis of the Emerging Conflict in the Persian Gulf The recent military strikes by the United States and Israel against Iran have ushered in a new wave of conflict in the Persian Gulf, characterized by rapid escalation and the involvement of numerous global players. This dramatic development is rooted in the prevailing tensions that erupted following Hamas’s attack on Israel on October 7, 2023. This marked the beginning of a series of events t…
How the U.S.‑Israel war against Iran is exposing the limits of the petrodollar system
How the U.S.‑Israel war against Iran is exposing the limits of the petrodollar system By Elliot Goodell Ugalde, Queen’s University, Ontario and Natalie Braun, York University, Canada For the first time since the Second World War, excluding the COVID-19 pandemic, public debt in the United States has surpassed the entire economy’s GDP. As of […] Source
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