
It seemed like big news, and many wondered why the mainstream media had seemingly ignored it. Turns out, there was a very good reason.
Earlier this week, reports circulating widely on social-media platforms like X offered up a shocking proclamation: A 50-year-old agreement between the U.S. and Saudi Arabia requiring that the latter price its crude-oil exports in U.S. dollars had expired on Sunday.
The collapse of the accord would inevitably deal a fatal blow to the U.S. dollar’s status as the de facto global reserve currency, various commentators on X opined. Surely, financial upheaval lay ahead.
Almost immediately, Google searches for the term “petrodollar” spiked to the highest level on record dating back to 2004, according to Google Trends data.