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by alert0
1860 days ago
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The petrodollar depends on it. When we went off the gold standard we "backed" our currency by enforcing that all oil sales be done in USD. This created global demand for dollars and allowed us to maintain our position as the primary reserve currency. I don't know the history super well but I would speculate that either Iran wanted to sell oil in another currency, or the other oil exporting countries we got in bed with (OPEC) didn't like Iran, or another one of our allies (Israel) didn't like Iran. |
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