Traders could start buying their oil using Yuan, for example. That’s not a theoretical anymore

What percent of dollars are tied up in in-flight oil transactions? And I suppose also in accounts that will be used for oil transactions in the planned future? That’s the mechanism for that supporting the value of the dollar, right, like, increased dollar demand via being used for oil market transactions?

	▲	9dev a day ago \| parent [-]
		The point is that the Petrodollar system requires countries to buy US treasuries to be able to buy oil. That is what makes borrowing cheap for the US, and what keeps the dollar demand up.