The mighty American dollar was once backed by gold, but what a lot of people don't realise is that for a long time it's been backed by oil. Currently, almost all world trade in oil must be done in US dollars, which helps prop up the currency's value.

But that may all be coming to an end. As recently, talks between Saudi Arabia and China may start to signal the death of the American dollar. Which could change the world for all of us.


0:00 - The US Dollar and oil
1:05 - A history of oil and money
2:52 - Stabilising the price of oil
4:00 - The man who controls oil
5:32 - FTX insert
6:46 - How the US dollar is losing power
8:24 - What this means for you?
9:57 - Some final thoughts