Here’s a link relating to oil wars that I think is very thought provking (Iran hasn’t yet started trading oil in Euros to my knowledge but they are still planning to do so): Petrodollar Warfare
Here’s one that gives some reaons why petrodollar recycling is important to keeping the US economy alive, with a good example:
“Japan needs to import oil for domestic use. To do so it must first acquire dollars, as the dollar is the only currency in which oil can be traded. To acquire these dollars, Japan must sell goods and services to the U.S. economy. The Japanese build a Honda to sell to the U.S. The U.S. federal reserve prints a certain amount of dollars and gives these to the Japanese in exchange for the Honda. The Japanese buy oil from Saudi Arabia using these dollars. The Saudis take the dollars and reinvest them in the Federal Reserve Bank of the U.S., and from then on they will only be used as a reserve currency. Therefore, all the U.S. had to do to acquire a Honda, was to print dollars. In essence, it has its very own money tree. The result of this is that the total debt of the United States is somewhere in the region of $8.4 trillion and increasing by $80 million per hour.” Petrodollar Recycling
