Why don't more people know about the Petro-Dollar and it's pending collapse?
Every time I bring up the conversation regarding the Petro-Dollar, I get blank expressions and of indifference.
Everyone either doesn't know what it represents, or how important it is to the global economy, and ultimately to their own money in their pocket.
I post news like this on Facebook, but no one cares, while they will chat about Miley Cyrus.
Should I bother to warn people, or leave them to their fate?
There are many who follow the USD and its role as a the world's reserve currency but for the most part it does not affect people in their day to day lives. However, if there are similar events as to 2008 and they are global, then the IMF may be called upon to produce liquidity in most markets via the issuing of SDRs. A key detail is that the BRICS nations together will have over 15% voting power and thus a veto(https://en.wikipedia.org/wiki/International_Monetary_Fund) and may use this as leverage to change the role of the USD (petro dollar) which they view as an unfair advantage for the US.
Yes, I agree however I would argue that the USD, as the world's reserve currency, does affect the people in their day to day lives, but they are just unaware of it. For example, the effect the dollar has against other currencies, does effect very real price for goods, that the average Joe buys every week at the supermarket.
People only really notice the effect during times like the "oil crisis" in the 70's, when Nixon took the dollar off the gold standard, or as you say, during the 2008 financial crisis.
I think the SDR is poised to replace the Dollar, but replacing one debt based fiat currency for another? It's not going to work.
Well stated. Jim Rickards has written a lot on this topic and it may be worth a read if you have not read any of his material. I agree that replacing one fiat with another will not work.
Back to your earlier point, what happens if enough people are aware of this or even care about this, what would happen? Rhetorical question at this point.
Yes I know Jim Rickards work, I've been following his material for a few years now.
As to whether people are aware or even care (rhetorical or not), at this point it looks like most people haven't made the connection between why they are poor and the petrodollar. But when they do, the game is over for the big banks and governments.
It's just a case of making people aware, and start talking about it. With the speed of the internet it shouldn't take decades, perhaps only a few short years?