"Running on Empty" (Excerpt)

"Running on Empty," Part I (Excerpt)

by Contemplations On the Tree Of Woe

Excerpt: "The Russo-Ukraine War has at this point been ongoing for several months. Even if the war were to end tomorrow (which it won’t), it has already had a massive effect on the globe, with food crises, mass migrations, and enormous expenditure of blood and treasure. The biggest effect of the war, though, is only beginning. America’s global hegemony is based on the petrodollar system and the Russo-Ukraine war is rapidly bringing that system to an end. The end of the petrodollar will be the end of the world order as we have known it since 1945.

Though the U.S. petrodollar system is perhaps the most important economic structure in the world, it is almost never discussed in mainstream sources. Therefore, before I write about the future, I’m going to write first about the past and present. Part I of this series will explain what the petrodollar system is and what its financial effects have been. In Part II, I’ll explain its implications for foreign policy and how that led to the Russo-Ukraine War. In Part III, I’ll explain how the system is breaking down and what might happen next."

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- https://treeofwoe.substack.com/