Wait, explain me to this: Why isn't Saudi Arabia pricing oil in Saudi Riyal? This is their gateway to dominate large portions of global economy. Who ever holds this golden key can print whatever sums they need at whims and offload it to rest of the world (just like US doing massive QEs at whims and never have to experience bad side of it). KSA infact is not just pricing oil in dollars but also mandating riyal to exactly follow the dollar! Most other countries do sell their produces in their own currencies such as China.