The Fake Petrodollar Story - No, Saudi Arabia Didn’t Ditch the Dollar

Take your personal data back with Incogni - use code BAGEL at the link below and get 60% off an annual plan ➡️ http://incogni.com/bagel00:00:00 - Introduction00:02:54 - What's a Petrodollar?00:03:52 - The Death of the Dollar00:04:36 - The "Petrodollar" Agreement00:08:00 - Why the Dollar Dominates00:10:11 - Why Saudi Arabia Can't Quit the Dollar00:11:55 - The Truth Around the Dollar's Decline00:14:19 - ConclusionWe'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.pdfBloomberg 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=trueIf 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 Learn more about your ad choices. Visit megaphone.fm/adchoices