Nice to see context around Triffin and the Connoly.
Confirms my bias that Nixon was based. The money was already fucked, the country would have been more fucked had he not done what he had.
Problem now is the petrodollar may be stronger than the gold dollar with regards to global fiats, and just won't die, perpetuating the Triffin Dilemma.
I thought the petrodollar was dying?
Someone other than the US and Saudis needs to produce more oil than they use, at scale... No sign of this anywhere
Modular Nukes might make a dent, but when, and the US will probably make most of those anyway
Seems more likely they address the Trffin Dilemma directly, enter Stables and Bitcoin...
I thought Russia was a major producer. It’s this Ukrainian war a proxy of Russia’s oil production and delivery to Europe?
Major is relative, US still exports significantly more before you count the Saudi arrangement... also the Globalists are nearly as scared of Putin as they are Trump so Russian currency is illiquid... by the time Trump got in there was nowhere to go.
That's probably most of it, Russian pipelines into Europe needed to be stopped at all costs so they overthrew the Ukranian government in 2014, been trying to do the same with Hungary, and blew up Nordstream
Euro is toast if they have to start selling it for Rubles, and now we just have to wait patiently until Bessent rugs the Eurodollar