Addison Wiggin - The petroDollar system breaking down, where oil is no longer paid for in Do

The petroDollar system breaking down, where oil is no longer paid for in Dollars internationally, essentially would be the death knell to the US Dollar as the reserve currency. It means the US can't borrow with 'exorbitant privilege' anymore, and it means the US Treasury market is set for an out-of-control interest rate spiral.

- Addison Wiggin

topic: Mean, Oil, Dollars, Us Treasury