I explained the gist of it to some people, and they were like "Is this from a book?
I’m pretty sure I learned about it from posts or maybe a podcast or something. I said it’s from World Systems Theory - Immanuel Wallerstein, but I’m 90% sure it’s not in there.
Could you say more? The petrodollar recycling model and dollar-debt / US bond reserve currency from Super Imperialism don’t seem mutually exclusive to me. I only read part of the book though and I don’t fully remember it. Is the issue that focusing on petrodollar recycling is missing a bigger picture / that dollar reserves aren’t for oil?