Demise Of The Petrodollar Has The Potential To Reshape The Geopolitical World

New Eastern Outlook by James ONeill   In the early 1970s President Richard Nixon instigated two changes that had profound effects. The first of these was taking United States off the gold standard; i.e. henceforth US dollars would no longer be convertible to Gold. Ordinarily this might have been expected to have significant ramifications for…