In this interview, analyst Elina Xenophontos breaks down why the viral petrodollar explanation for recent US policy in the Middle East does not hold up — and argues that the theory is functioning to obscure a much larger strategic failure in Washington’s recent confrontation with Iran.
We discuss the origins of the petrodollar thesis, why it has spread so widely on independent media, where the analysis breaks down, and what the actual blunder looks like when you follow the money, the weapons flows, and the diplomatic record.
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