Core Argument
• The real geopolitical problem is not oil availability but dollar dominance in global finance.
• Monetary power is central to geopolitics.
• The dollar-based settlement system gives the U.S. disproportionate influence.
International Liquidity Problem
The problem of international liquidity is related to the non-availability of:
(a) goods and services
(b) gold and silver
(c) dollars and other hard currencies
(d) exportable surplus
Key Data Points
Venezuela
• ~17% of world’s proven oil reserves
US Dollar (global)
• ~88% of global foreign-exchange transactions use the dollar
• ~58% of global foreign-exchange reserves are dollar-denominated
India
• Imports ~85% of crude oil
• ~90% of India’s trade invoiced in dollars
• 55–60% of India’s forex reserves held in dollars
