They have strong-armed their petrodollar system since 1971, and have invaded a number of oil-producing countries that toyed with the idea to price oil in value other currencies.
Saudi Arabia only get to price in Yuan, because the US can't afford to invade China. The unipolar world is fraying at the seams, and one wonders what will happen to the dollar when the US government can no longer lean on the petrodollar to enforce it's world reserve status.
Check Lyn Alden's piece on the history of the US Dollar as world reserve asset [0] for a vastly superior exposition of facts regarding this matter.
The last countries that considered it seriously were bombed and invaded…
Re:Why I’m Cryptophobic
by aaaaaaaaata on Friday July 01, 2022 @09:32AM
(#31946099)
"We came, we saw, he died."
With sanctions against Russia the US is actually doing the opposite. Forcing them not to use the USD.
Re:Why I’m Cryptophobic
by mattwilsonn888 on Thursday June 30, 2022 @03:55PM
(#31937732)
"Force." The real question is, why do they want to use the Dollar so bad?
Technology exports and the buying or licensing of American IP I guess?
That is not true. The US isn't forcing anyone to use the dollar, e.g.: https://www.wsj.com/articles/saudi-arabia-considers-acceptin...