Over the weekend, I remarked to a select email group that the empire’s attack on Venezuela might be a ploy to reinvigorate the dying petrodollar. Two heavyweights appear to agree.

Richard Werner explains the reason for the US attack on Venezuela:

The US coup in Venezuela is also to help the petrodollar system, established by Henry Kissinger’s 1974 deal with Saudi Arabia requiring global oil sales in USD, which creates artificial demand for the currency & funds American hegemony – but which has been in its death throes.

Venezuela, with the world’s largest oil reserves, challenged the $ by selling oil in yuan, euros, rubles, bypassing the $, & building alternative payment channels with China.

Historical precedents include the overthrow of Saddam Hussein in Iraq for switching to euros, Muammar Gaddafi in Libya for proposing a gold-backed dinar. The invasion counters accelerating global de-dollarization led by Russia, China, Iran, and BRICS, as nations shift to non-dollar settlements and alternatives to SWIFT.

But it signals desperation, potentially hastening the petrodollar’s decline as the Global South resents US reliance on military force to maintain currency dominance.

Yeah, this move seems assured to transform BRICS and its financial system into a full-blown military alliance. Which might be fine, if the USA is simply attempting to lock down its hemisphere as per the new Donroe Doctrine. But this interpretation does tend to leave the Middle East hanging, which doesn’t seem likely for the so-called “Trump” administration.

My SG comment: “The Trump has been practically screaming it. If so, then I think the 2.0 system burns out far faster than another 50 years. With more war. Deo vindice.”