A good article by @gladstein covers the historical US/Saudi relationship well.
If you don't understand petrodollars, you don't understand US foreign policy, monetary policy, or the last several wars we've fought. Great thread & article.
The dollar system has some very real, very damaging externalities. Alex has done a fantastic job documenting them
at this point I'm convinced that @gladstein knows more about the geopolitics of FX markets than just about anybody else in the world. read this. more than once.
Alex’s piece was great.
