**Did the Petrodollar Just Die? Not Really**

So everyone's freaking out about the "petrodollar pact" ending on June 9 after 50 years. Sounds huge, right? Problem is—the pact people are talking about never actually existed the way they think.

Here's what really went down: Back in 1974, the U.S. and Saudi Arabia set up an economic cooperation commission. Later that year, there was a *separate* deal (kept quiet until 2016) where Saudi Arabia agreed to load up on U.S. Treasurys in exchange for military protection. But neither of these required Saudi to price oil *only* in dollars. They literally kept using pounds and other currencies anyway.

Yeah, the dollar's still dominant in global oil trades. But stuff's shifting—China and Russia are pushing yuan, India and UAE are trading in local currencies. De-dollarization is real, just slower than the headlines make it sound.

Bottom line: The dollar isn't going anywhere tomorrow. It's still the world's reserve currency, and most oil deals still run through it. But the mythology around an "iron petrodollar pact" is exactly that—mythology. The real story is way more boring: gradual shifts, not dramatic endings.