The excerpt is melodramatic and self indulgent, written by a novelist manque (one hopes a very young one). Economically it's ignorant, to the extent there's any there there at all. If today is radically different from the "petrodollar" era of the 70's and 80's, how? Winds have a lot less to do with relative exchange rates than growth rates, inflation rates, and the soundness of economic policies. Beyond that, arguing with the passage would be wrestling with a pig.