“The judgment day for the petrodollar is near,” says Marin Katusa in an interview today with Yahoo! Finance's Aaron Task.
Nearly $1 trillion worth of deals between Russia and China announced thus far are not being transacted in US dollars. “And remember, China is now Saudi Arabia’s number one customer, and those deals are also not going to be in US dollars.”
If the dollar loses its central place in global energy transactions, “the American way of life” could be at risk, he says, arguing the US fracking revolution is actually helping Putin's long-term ambitions by making the Middle East less geopolitically important to US policymakers.
Click below to watch the rest of Marin's interview on Yahoo! Finance.
For a copy of Marin's book, The Colder War, or to see more coverage on this trending topic, click here.