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kortillatoday at 2:06 AM2 repliesview on HN

No it doesn’t, the petro-dollar isn’t a real thing. Forcing USD denomination for a transaction doesn’t help USD because there is a buyer of USD and an equally sized seller of USD.


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temp8830today at 2:57 AM

However, there does seem to be an outsized effort applied to defending this not-real thing. A leader who defies the petrodollar has a good chance of getting killed or kidnapped. In a way, the same principle makes any god real: he doesn't have to exist, as long as people who will beat up non-believers do.

pocksuppettoday at 3:19 AM

Total USD reserve involved in that transaction is not zero. They have to already hold dollars to do the transaction at all, which means a benefit has already been provided to the US. The transaction doesn't change the US's position, but enabling the transaction to occur does.

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