Why Petrodollars Exploit Countries Outside The West

There are approximately eight countries in the world with currencies that are convertible to the dollar – all in the West. Those countries with other currencies have to pay for their conversion into dollars. This provides a nice profit for the World Bank and the International Monetary Fund, both of which are controlled by the US. But now, the yuan is suddenly the third largest currency in the world. If China is the world’s largest and strongest economy, will the yuan replace the dollar? Not without bloodshed, we predict.
Read at teleSUR
Image from The Falling Darkness

About Barbara MacLean

Barbara MacLean has worked as an academic and career counselor at California State University, East Bay (CSUEB), Merritt and West Valley Colleges and as a career counselor and manager of the Oakland One Stop Career Center, a public career and jobs center in partnership with EDD. She is a co-founder and editor of Planning Beyond Capitalism.

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