Bankers, Arab history and the petrodollar bazaar

IN THE 1970s, the petrodollar became the symbol of a seismic power shift in global finance, the arrival of the Arabs as the new priesthood of money in the Third World. Of course, vast wealth existed in the Middle East centuries before a handful of geologists found subterranean lakes of black gold under a Dhahran salt dome and changed the history of Arabia forever.

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