William Simon Establishes Petrodollar Recycling System
US Treasury Secretary William Simon negotiated a pivotal agreement with Saudi Arabia that established the petrodollar recycling system, fundamentally reshaping global monetary dynamics. Simon convinced Saudi Arabia to sell oil exclusively in US dollars and invest oil revenues in US Treasury bonds, …
William Simon
Ahmed Zaki Yamani
Richard Nixon
King Faisal
Henry Kissinger
+2 more
petrodollar-system
monetary-policy
oil-politics
financial-system
international-finance
Read more →