Comment: Swan's Conclusion Not Necessarily Accurate

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Swan's Conclusion Not Necessarily Accurate

A decline in the use of petrodollars does not necessarily lead to a "weaker" dollar. In 2008 when the price of oil declined by two-thirds in just a few months (from $140 to $40 per barrel) it meant that the demand for "petrodollars" declined dramatically as well. This did not seem to have any impact on the dollar at all.