Here’s How We Got Here: A Short Primer On The History Of The Petrodollar

The information in this article will be a short synopsis of how the Petrodollar was created, in order to allow the readers to tie in an understanding to the bigger picture we face today.  We have all seen the volatility in the oil markets and the steady, daily decline in the BDI (Baltic Dry Index), both of which indicate the disease affecting the global economy.  That disease is almost terminal; the policies surrounding the Petrodollar and its influence are major contributing factors to the rapidly-deteriorating world economies that are on the brink of crashing.

Oil is the most important commodity from an economic perspective, and from the drilling of the first oil well in 1846 in Azerbaijan, formerly known as Baku, the world has…

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