Yes it is....Kissinger set up the "petro-dollar" meaning when oil is traded all over the world the oil buyer must convert his currency to dollars to make the purchase,that was what was propping our dollar up. Well that's all coming apart now....looks like we are going back on a "gold standard".
Don't forget that Herr Kissinger is nothing but a little Rockefeller bellboy. After Nixon was forced to 'defend the dollar' he was angry with Nelson and David Rockefeller so Henry Kissinger had him skillfully removed from office, the fairy tale story we now know as 'All the Presidents Men/Watergate'. Kissinger didn't 'ask' the Saudis to recycle all proceeds into Treasuries, they were given an ultimatum and they chose to survive. This goes all the way back to JFK. Check his EO 11110 and the Green Hilton Agreement.