when Nixon finished removing the gold standard from the US currency (and French ships showed up to get their gold from the US) … Nixon also made a deal for all OPEC oil to be sold on the planet only in US dollars. That inflated the value of the dollar for 50 years. It requires any country to buy USD to buy oil.
Now that the world is moving slowly from petroleum that challenges the USD as the hegemonic currency and deflates the value of the USD.
https://www.aljazeera.com/news/2025/9/4/venezuela-has-the-worlds-most-oil-why-doesnt-it-earn-more-from-exports
when Nixon finished removing the gold standard from the US currency (and French ships showed up to get their gold from the US) … Nixon also made a deal for all OPEC oil to be sold on the planet only in US dollars. That inflated the value of the dollar for 50 years. It requires any country to buy USD to buy oil.
Now that the world is moving slowly from petroleum that challenges the USD as the hegemonic currency and deflates the value of the USD.
Trump wants that oil to pump up the jam.