This could be America's greatest test until China. Iran may be leveraging The Strait regarding oil sales (40% of that trafficked through it) they're demanding it be traded in Chinese Yuan

@Brerzerk

yes the empire is dying

The US petro dollar has no substantive value beyond its usage as the world’s reserve currency which is tied to the Bretton Woods agreement around 1944 when it was linked to gold and become the currency for world trade and the world banking system which is run by the US

It got devalued in the late 60s from US excessive borrowing for the Korean War in the 50s and Vietnam in the 60s and 70s and Nixon delinked it from the gold standard in 71 I believe

In 1974 the US managed to get OPEC countries to sell their petroleum in US dollars after the oil crisis and that saved it

The US is almost 40 trillion in debt. Its treasury bills and bonds will never be redeemed by the US treasury but they are still passed around in financial trading makers for their coupon value and because no one wants to admit it

countries are looking for another reserve currency and there has been none (not even the Euro) until now- the Chinese yuan or renminbi

in addition China the 2nd largest holder of US debt (treasury bills) is selling them off

so yes the empire is dying but the empire has a large army and spy agencies and an insatiable desire to be top dog and it will not go down without a fight.

Every action taken by the US since the 70s was to preserve the dollar. No country can attempt to de dollarize without getting bombed, invaded or regime changed. All the recent wars are proxy wars pursuant to weakening of China its rival for the world reserve / trading currency

but the writing is on the wall for all to see