Even for the US it is ultimately a toxic death trap.
When the petrodollar loses its dominance as the global reserve currency.
This only happened to the British pound when the Suez canal crisis exposed the British as being militarily incapable of enforcing control of strategic shipping lanes.
Hormuz could be the death knell of the petrodollar.
Regardless the decline of the USD-'petrodollar' is already well advanced...with US government debt servicing exceeding military expenditure and no credible pathway to ever repaying the debt.
Even for the US it is ultimately a toxic death trap.
When the petrodollar loses its dominance as the global reserve currency.
This only happened to the British pound when the Suez canal crisis exposed the British as being militarily incapable of enforcing control of strategic shipping lanes.
Hormuz could be the death knell of the petrodollar.
Regardless the decline of the USD-'petrodollar' is already well advanced...with US government debt servicing exceeding military expenditure and no credible pathway to ever repaying the debt.