Sure it could. The death of the petro-dollar has been like a slow-motion train wreck. As Mike Maloney says, each of these events is another nail in its coffin. So many stresses are piling up and coming to a head. The next crash looks like it will be The Big One.
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And Iran just pulled the plug on the US Buck too. As if they aren't already banned from using it anyway.
True, but it might still be a worthwhile symbolic move.