Loading ...The petrodollar is required again after four months of redundancy if oil and gas (and helium etc.) are flowing freely again.
High (Volcker) interest rates hammered gold and inflation in 1980 because there was no Govt debt. so there was no interest charge, whereas high rates this time simply make the deficit, and the money printing, worse. High rates might crush CPI briefly, but the overall effect will be inflationary.