Was the US invasion of Iraq due to the Petrodollar standard being threatened by Saddam Hussein and does the Petrodollar standard still play a major role in the strength of the US dollar today

Question

I wanted to know whether this is true or was it just a conspiracy.

In: Economics

Answer 1

China is the only economic entity that can threaten the US’s financial top spot (thanks you globalists and corrupt politicians!) however it (used to anyway) peg it’s yuan to the US dollar, making it dependent upon it. Also, I doubt the world really wants a totalitarian regime such as China calling the global shots, despite all their bitching and whining over the US’s steering.

Those happy and prosperous Nordic countries couldn’t scale to handle being 50x their current size — and filled with wildly varying demographics.