Joe Murphy and Steve Sedahl discuss the petrodollar agreement and its impact on the global economy.

Wealth Health Radio with Joe Murphy

English - June 21, 2024 16:00 - 49 minutes - 45.5 MB - ★★★★★ - 1 rating
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Previous Episode: The conversation covers the proposed changes to taxation and retirement planning under President Biden's 2025 budget.

Next Episode: Joe Murphy and Steve Sedahl discuss various topics, including current events, interest rates, bank stress tests, and lessons from Warren Buffett's investor playbook.

In this conversation, Joe Murphy and Steve Sedahl discuss the petrodollar agreement and its impact on the global economy. They explore the history of the petrodollar, starting with the Bretton Woods agreement in 1944, which established fixed exchange rates and pegged currencies to the US dollar. They explain how the petrodollar system emerged, with Saudi Arabia agreeing to sell oil only in US dollars and invest excess dollars in US treasuries. They also discuss the potential threats to the petrodollar system and the implications for the US economy. The discussion highlights the importance of being aware of these geopolitical events and their potential impact on the value of the US dollar.

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