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Joe Murphy and Steve Sedahl discuss the petrodollar agreement and its impact on the global economy.
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In this conversation, Joe Murphy and Steve Sedahl discuss the petrodollar agreement and its impact on the global economy. They explore the history of the petrodollar, starting with the Bretton Woods agreement in 1944, which established fixed exchange rates and pegged currencies to the US dollar. They explain how the petrodollar system emerged, with Saudi Arabia agreeing to sell oil only in US dollars and invest excess dollars in US treasuries. They also discuss the potential threats to the petrodollar system and the implications for the US economy. The discussion highlights the importance of being aware of these geopolitical events and their potential impact on the value of the US dollar.
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1. Joe Murphy and Steve Sedahl discuss the petrodollar agreement and its impact on the global economy. (00:00:00)
2. TEASE BEGINS HERE (NOT DURING SOUND EFFECT) (00:00:01)
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