aa on Nostr: The fact that the sheikhs hold their vast surpluses in Treasuries matters a lot more ...

The fact that the sheikhs hold their vast surpluses in Treasuries matters a lot more than them pricing their oil in dollars. Putting this out there as this aspect of the petrodollar system is often understated. (Not an original thought, heard it first from saifedean (npub1gdu…6nak) .)