UNDERSTANDING PETRODOLLAR: US DOLLAR, OIL PRICES & SAUDI ARABIA (EITS #5)

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The US relationship with Saudi Arabia still builds major headlines, especially considering the new President Trump's stubborn stance on the topic. In this video we will explore the relationship, including the history of the Petrodollar agreement.

Points discussed include:

- The origins beginning with the Yom Kippur War, resulting in US 'shuttle diplomacy' and OPEC retaliation.

- How the Nixon Shock economic measures led to issues for OPEC countries.

- How the Petrodollar relationship has begun to deteriorate in recent years, leading to a decreased reliance on the US dollar.

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💬 Comments on the video

This is soo good! Literally knew so little around this & now I feel so informed. Love it! Subscribed!

Author — Seema

You left out all the wars, because of the Petro dollar.

Author — Aimee12345 B

China already trades Yuan with almost all OPEC countries for their goods such as oil.
UAE, China sign pact for bilateral currency swap | 14, 2015

Angola makes Chinese Yuan its second legal tender - Agence red note is already used as payment and reserve currency in many African countries: Ghana, Nigeria, Mauritius, Zimbabwe and South Africa.

China buying oil from Iran with yuan 8 May 2012China is buying crude oil from Iran using its currency the yuan, an Iranian diplomat has said.

Author — Benihana

Great video btw info everyone should be familiar with.

Author — devin7136

Omg this is incredible, thank you so much to put it together sooo much appreciated 🍀

Author — Katerina Svobodova

Really Enjoyed this video....I enjoyed approaching the market from another angle. Ive been on the fence of signing up for the full course. But seeing your knowledge in other areas has brought me one step closer in realizing that you not just in it for a quick buck. Thanks

Author — SaffinRed

Nicholas, i really learn so much from all your videos. thank you for providing these information. please continue with what you are doing.

Author — Mohd Ghazali Hj Jamaluddin

Good thing most Americans are too busy watching football and Dances With The Stars to realize the Petro Dollar is the reason Saudi Arabia gets a free pass for 911. Sad....

Author — bigart1993

it was good to hear this argument from an economical angle

Author — zimbabwetwinnedwithanfield

Informative. Thanks for the wonderful documentation on PetroDollar relationship

Author — Dinesh Jaladurgam

Great audio. Good quality mic you have.

Author — Karl Roberts

why would it be bad if the Saudi's sold their US securities?

Author — KatynMermaid 187

So, the "petrodollar" was a move to avoid demand-pull inflation.
Milton Friedman was very wrong on a great many of his economic theories. We are still paying the price for his neoliberal nonsense, which failed completely in 2008. The dollar is in no way tied to the value of any commodity. There is no economic model that can explain the value of the exchange rate of the dollar because it is driven by speculation. The interest rate is in no way the result of market forces. The Fed appoints the interest rate.
In terms of understanding international trade, you must understand macroeconomic sectoral balances. It does not appear that this video covers it at all.

Author — Kain Alrik

u need more subscribed, ur contents are goods with indept insight.

Author — Shahrizal Ibrahim

Isreal behind the petroleum dollars ... not surprising...another piece of the elusive puzzle.

Author — Alessandro V Berlingeri

this was the best vid about this topic

Author — Butrón sr.

Best video on your channel so far! Hope you make more.

Author — zdrux

I love these analytical videos, I wasn't so keen on these issues but you've definitely got me interested. Keep them coming

Author — Brian Ongeri

Finally, I found an American who understands the Saudi-US relationship correctly
Saudi Arabia sells oil in dollars, which is what makes the dollar a value and acceptance to this day. 👍👍⁦🇸🇦⁩

Author — Abdullah Alshehri

Very appropriate given Wednesday's OPEC announcement, looking forward to the rest.

Author — Gary Foster

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UNDERSTANDING PETRODOLLAR: US DOLLAR, OIL PRICES & SAUDI ARABIA (EITS #5)