The economic sanctions that have been imposed upon Russia have caused immense damage, but a loss of the petrodollar would be absolutely devastating for the U.S. economy.  Since making an agreement with the Nixon administration in 1974, the Saudis have traded oil exclusively for U.S. dollars.  Today, approximately 80 percent of all oil produced in … Continue reading Oh Great, Now We Could Lose The Petrodollar… – Michael Snyder