John Kerry: Iran deal tied to petro dollar ....

[Benton]

(08-12-2015, 11:08 AM)Devils Advocate Wrote: The only thing that keeps our economy afloat is the petro dollar. Without that, we're screwed. 

(08-12-2015, 01:50 PM)Devils Advocate Wrote: Without the petro dollar, the U.S. dollar is worthless.

How so?

The money OPEC countries hoard and invest in securities has been dropping for decades. It hasn't made it worthless yet and if they stop trading in dollars, won't make it worthless then. Even if they trade in preto-yuans or petro-euros predominantly, investing in US securities will still be a better investment for them. Why? Because we've still got a stronger economy. And we have laws that allow them to hide money pretty safely as opposed to hiding it in unstable markets using the Euro or in countries with a questionable security policy.