Lee Rendel

Understanding the Petrodollar

Understanding the Petrodollar

So first how to understand the Petrodollar. Hundreds of oil tankers cross the world’s oceans each day with oil from Saudi Arabia and other countries in the Middle East priced in U.S.dollars or also known as Petrodollars. The U.S. dollar or the Petrodollar has been the World Reserve Currency for roughly the last fifty years, … Read more

What is the PetroDollar, is it coming to an end and what does it mean for you?

The Petrodollar was the monetary system put in place to provide stability to the dollar after President Nixon ended the Bretton woods system on Aug 15, 1971.  Bretton Woods came about in July 1944 and basically established the U.S.Dollar as the world reserve currency, It was established that the U.S. would hold the world reserve … Read more