Post #4379556
2026-08-04 14:14 UTC
been reading about the petrodollar fiasco and China's attempt to become the new world oil currency now that USA has failed state statused itself.
this prescient 2015 article talks about why Europe should (and hasn't yet but still needs to) capture that flag with a petroeuro.
https://archive.is/20230224002818/https://www.ft.com/content/363355e6-1aa9-3718-b563-045ae682f801
Replies (1)
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@falcennial@mastodon.social 2026-08-04 14:17
my summary: 1. USA is over. 2. China has zero international credibility and you'd have to be insane to bank there. no amount of solar installations will change this. 3. Europe has financial credibility and is the only option to take on the global petrocurrency responsibility. they need simply to build it (which could be done in under one month) and make it available to oil purchasing nations (which could be done in ten minutes).