Ironically, the US being an oil import / exporter is the least important country to this system, given it's the only one able to arbitrarily inflate the US dollar supply.
The forex vs oil scale is valid point, and it'd be curious to compare it across the decades.
Per some preliminary numbers, Brenton Woods being abandoned in 1971 led to market forex volume substantially growing every year.
Oil:forex looks like ~1:150 in 1980, scaling to 1:500 in 2010.
So indeed an increasingly smaller portion of the forex pie.
The forex vs oil scale is valid point, and it'd be curious to compare it across the decades.
Per some preliminary numbers, Brenton Woods being abandoned in 1971 led to market forex volume substantially growing every year.
Oil:forex looks like ~1:150 in 1980, scaling to 1:500 in 2010.
So indeed an increasingly smaller portion of the forex pie.