this post was submitted on 31 Oct 2025
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Out of the loop

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[–] TheReturnOfPEB@reddthat.com 20 points 1 month ago* (last edited 1 month ago)

https://www.aljazeera.com/news/2025/9/4/venezuela-has-the-worlds-most-oil-why-doesnt-it-earn-more-from-exports

when Nixon finished removing the gold standard from the US currency (and French ships showed up to get their gold from the US) ... Nixon also made a deal for all OPEC oil to be sold on the planet only in US dollars. That inflated the value of the dollar for 50 years. It requires any country to buy USD to buy oil.

Now that the world is moving slowly from petroleum that challenges the USD as the hegemonic currency and deflates the value of the USD.

Trump wants that oil to pump up the jam.

[–] Assassassin@lemmy.dbzer0.com 10 points 1 month ago

Sounds like you're pretty much in the loop, chief.

[–] homesweethomeMrL@lemmy.world 8 points 1 month ago

Same Shit, Different War Criminal Republican

Fucking republiQans built their own bubble to feel good about being racists. As soon as they poke their pointy heads out they see we’re upside down in the shit again and turtle back inside immediately.

Idiots, fools, cowards.

[–] humble_boatsman@sh.itjust.works 6 points 1 month ago

More than just the distractions and power grabs for oil as mentioned here I think there is still a strong precedent with US foreign policy to fear and thus disrupt as much as possible government who nationalize their resource to the expensive of corporate hegemony and control. Billionaires are in real fear of citizens getting the benefits of their countries resources and not the share holders of first world powers. See Iran in the 60s? See contra movements in central america in the ?forever