Since there was an economic discussion I thought I will provide this lecture that explains some misunderstanding regarding economics.

This lecture does not mention the petro dollar but mentions The Bretton Woods System. I think many people should watch it to understand better geopolitics.

“Why is deregulation of finance a weapon against democracy and human rights? Well, very obviously and it was understood. The reason is that if capital flow is unregulated, it will quickly create what some internationalist economists call a VIRTUAL SENATE. A senate consisting of concentrated intentional financial capital which will simply impose decisions on governments by the threat of capital flight. So if some government pursues irrational policies, so policies that are aimed at helping the population, let’s say, instead of raising profits for investors and are therefore irrational – like education or health or environmental policies or whatever it may be you can force them to stop, simply by pulling all the capital out of the country, which forces interest rates up, send the country to depression, and all the usual consequences. So therefore, unless capital is controlled, you’ve very sharply restricted democracy and human rights. Well, that was understood then and it is understood now. The Bretton Woods System with financial regulation, persisted through roughly 1970. That’s a period that’s commonly called the Golden Age of Post-War capitalism, period of high growth, high growth of productivity, expansion of social contract, and the so-called welfare state, which turned the universal declaration into something a little more than a “letter to Santa Claus”. From the early 1970s, that system was dismantled”- Chomsky