Deepin Moments: OPEC Supports RMB to Replace Petrodollar Agreement

Deepin Moments Dec 10, 2022 “If you control the oil, you control all the world economy; if you control the currency, you control the whole world.” Dr. Henry Kissinger, former U.S. Secretary of State, once broke the core logic of the U.S. using the petrodollar advantage to easily profit globally for more than half a century after the U.S. signed the petrodollar agreement with Saudi Arabia in 1974 and the U.S. dollar became the currency for global commodities trading, including oil. Today, however, as the world’s economic and trade landscape changes, the value of the petrodollar continues to erode and…