The PetroDollar is a myth. The Iran war confirmed it.

Описание: Learn economics from the best professors with Coursera! - https://imp.i384100.net/Pz66nQ
Get 40% off your first 3 months of Coursera Plus and unlock top economics courses to grow your skills - https://imp.i384100.net/c/7141326/388...

If you appreciate the research, consider buying me a 'coffee' at https://ko-fi.com/moneymacro or supporting long-term for membership benefits via:   / moneymacro  

WANT AN IN-DEPTH INDUSTRIAL POLICY MASTERCLASS?
△ https://school.moneymacro.net/p/indus...

LIKE CHATTING ECON WITH ME?
△ Follow me on Twitter:   / joerischasfoort  
△ Follow me on LinkedIn:   / joeri-schasfoort  
△ I have a private Discord server for Senior and Chief economist Patrons / members.

SOURCES:
1. https://gulfnews.com/business/energy/...
2. https://www.marketwatch.com/story/rep...
3. https://www.thetimes.com/uk/politics/...
4. https://www.coursera.org/learn/financ...
5. https://www.coursera.org/learn/narrat...
6. https://ies.princeton.edu/pdf/E131.pdf
7. https://yawboadu.substack.com/p/evalu...
8. https://www.jstor.org/stable/25482569...
9. https://www.jstor.org/stable/25482569...
10. https://www.thebusinessresearchcompan...
11. https://www.bis.org/press/p250930.htm

Blog mentioned: https://substack.com/home/post/p-1462...

Timestamps:
00:00 - the biggest myth in geopolitics
03:05 - the 1974 US-Saudi deal
07:08 - Eurodollars vs Petrodollars
11:02 - the myth is even weaker today
13:59 - does the US depend on Gulf petrodollars?
16:28 - what really drives dollar dominance

Attribution:
Music by Epidemic Sound: http://nebula.tv/epidemic
Thank you to AP Archive for access to their archival footage.
Stock footage and other clips by Getty

Narrated and produced by Dr. Joeri Schasfoort
Edited by Natalia Karpacz