Post
Topic
Board Economics
Re: Is the US dollar backed by oil?What do you think?
by
mrdeposit
on 20/03/2019, 16:39:09 UTC
I kinda like this guy and his Youtube content,but he is anti-bitcoin and he has some solid arguments.

https://www.youtube.com/watch?v=YChQ3KQ_1f4

https://www.youtube.com/watch?v=xNr1LWgIyiE

The first video is about the bitcoin bubble and the second video is explaining the petrodollar and the US/Saudi Arabia relationships.The petrodollar conspiracy theory sounds pretty good to me.

What do you think?
After the gold standard that claimed 1 ounce of gold equals to the 35$, the situation has changed in favour of the USA. Oil countries always trade with major currencies but they are not able to put the USD in offside. The petrodollar is not a case anymore and having the ability to beat inflation with more printing the US dollar will beat all the alternatives even without oil produce.