2 thoughts on “11/01/13 Doug Bandow

  1. James Robinson

    Chalmers Johnson used to quip that the Saudis could totally demolish the US economy overnight by accepting oil payments in anything other than US Dollars, the petro-dollar, established by Nixon when he abandoned the international convertibility of the dollar to gold as prescribed by the Brenton-Woods agreement . The petro-dollar played a substantial role in the charade that kept the dollar as the world’s reserve currency. Maybe that’s why the US treads lightly in its relations with the Saudis.

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