CEO Of One Of The World's Largest Energy Majors "Sees No Reason For Petrodollar" -- Zero Hedge
The USA is fast running out of friends to support its 'exorbitant privelege'. Having alienated the Germans over NSA-eavesdropping, 'boomerang'd the Russians into de-dollarization, tariffed and quantitatively eased China into diversification, and finally 'punished' France into discussing the dollar's demise; it appears no lessor person than the CEO of Total (the world's 13th biggest oil producer and Europe's 2nd largest), believes "There is no reason to pay for oil in dollars." Clearly, based on Christophe de Margerie's comments, that we have passed peak Petrodollar.
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My Comment: Zero Hedge's coverage on the growing international movement to stop using the U.S. dollar as a reserve currency has been outstanding. His latest post .... Mike Maloney: The Dollar As We Know It Will Be Gone Within 6 Years .... is a must read.
2 comments:
Is there any hope with a new administration this may not be the case?
The problem is Washington DC .... and the electorate who elect these politicians in .... not one political party or person.
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