The Fake Petrodollar Story - No, Saudi Arabia Didn’t Ditch the Dollar
The Plain Bagel 17:14
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00:00:00 - Introduction
00:02:54 - What's a Petrodollar?
00:03:52 - The Death of the Dollar
00:04:36 - The "Petrodollar" Agreement
00:08:00 - Why the Dollar Dominates
00:10:11 - Why Saudi Arabia Can't Quit the Dollar
00:11:55 - The Truth Around the Dollar's Decline
00:14:19 - Conclusion
We've seen some fake headlines spreading about the end of a 50-year petrodollar agreement with Saudi Arabia - today's video looks into the facts around the situation.
June 8, 1974 agreement (p. 788): https://tile.loc.gov/storage-services/service/ll/lltreaties//lltreaties-25-3/lltreaties-25-3.pdf
Bloomberg Story on the July 1974 agreement: https://www.bloomberg.com/news/features/2016-05-30/the-untold-story-behind-saudi-arabia-s-41-year-u-s-debt-secret?sref=Oeyjq8by&embedded-checkout=true
If you'd like to support the channel, you can do so at Patreon.com/ThePlainBagel :)
DISCLAIMER:
This channel is for education purposes only and is not affiliated with any financial institution, although Richard does work as an employee for an investment manager. Richard Coffin does not provide recommendations on The Plain Bagel - those looking for investment advice should seek out a registered professional. Richard is not responsible for investment actions taken by viewers
00:00:00 - Introduction
00:02:54 - What's a Petrodollar?
00:03:52 - The Death of the Dollar
00:04:36 - The "Petrodollar" Agreement
00:08:00 - Why the Dollar Dominates
00:10:11 - Why Saudi Arabia Can't Quit the Dollar
00:11:55 - The Truth Around the Dollar's Decline
00:14:19 - Conclusion
We've seen some fake headlines spreading about the end of a 50-year petrodollar agreement with Saudi Arabia - today's video looks into the facts around the situation.
June 8, 1974 agreement (p. 788): https://tile.loc.gov/storage-services/service/ll/lltreaties//lltreaties-25-3/lltreaties-25-3.pdf
Bloomberg Story on the July 1974 agreement: https://www.bloomberg.com/news/features/2016-05-30/the-untold-story-behind-saudi-arabia-s-41-year-u-s-debt-secret?sref=Oeyjq8by&embedded-checkout=true
If you'd like to support the channel, you can do so at Patreon.com/ThePlainBagel :)
DISCLAIMER:
This channel is for education purposes only and is not affiliated with any financial institution, although Richard does work as an employee for an investment manager. Richard Coffin does not provide recommendations on The Plain Bagel - those looking for investment advice should seek out a registered professional. Richard is not responsible for investment actions taken by viewers
Category (YouTube): Education
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