Here’s an article that gives a brief explanation of why the Dollar is crucially dependant on being thee global reserve currency, and exclusively used as petro-currency, ie: all oil-trades are in Dollars.
(Can’t say I fully understand this yet, but the fog is slowly clearing)
The article also claims that the Dollar will collapse when/if countries like Russia, Iran, Venezuela or even Norway goes off the Dollar for their oil-trades and uses alternatives like Euros or Rubles.
And of course, in the context of USA’s current threats against Iran, we are reminded that Iraq was invaded shortly after they converted from Dollars to Euros.
The article makes the prediction that as Russia goes further with it’s conversion idea, we will see the Western media start a smeer campaign aganist Putin, possibly using the same ‘Hitler’ card against him, as is used against ‘Ahmadi Nejad’ and Chavez… and ironically by radical lefties against Bush.
Vladimir Putin and the rise of the petro-ruble
Putin’s challenge to the dollar is the first salvo in a guerilla war that will end with the crash of the Dollar.