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<p>[QUOTE=&quot;InfleXion, post: 1414776, member: 29012&quot;]Petrodollar is a term to describe the US dollar as the world reserve currency. This was originally done when it took on the role of gold in the monetary world, but since then dollar dominance has been supported greatly by its world reserve currency status, because other nations had to swap their money into US dollars before they could buy or sell oil. More US dollars exist outside the US than inside because of this paradigm. It has enabled us to export a lot of our inflation to other nations who would otherwise not be using our dollars, and because of this many of the BRIC nations are moving, and have moved to bypass using the USD for the oil transactions. This does not bode well for inflation at home if we are no longer exporting it to other nations.[/QUOTE]</p><p><br /></p>

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