China makes a stand
Meanwhile China has not been standing idle, watching the European ship list in the storm. The largest oil consumer launched its own petro-yuan last March, and oil is now also traded in Chinese currency. Iran has ditched the dollar, and Russia, with its huge oil and gas reserves, has floated the idea of abandoning it too, as it had already done with sales of petrochemicals to China.
++++!!!!Thus far smaller nations have tried to move away from the dollar but got blasted by sanctions, military interventions and coups. Now that a few top guns have faced the trigger-happy gunslinger, it is a totally different ball game.!!!!++++
The end of the petrodollar means the end of the 'current' american way of life