Quote from: andika2018 on March 25, 2019, 07:37:45 AM

Quote from: kingcolex on March 25, 2019, 01:54:37 AM

Quote from: alisafidel58 on March 20, 2019, 01:35:51 PM

I sounds good but still need to be proven. There is a lot of conspiracy going on with the US and Saudi Arabia regarding its petroleum import/export. To think that the Dollar is backed by oil I won't believe it.

I don't believe it either, it's more backed by it's military and massive GDP, we have a colossal economy that have strengths in all sectors.

I am agree if US Dollar backed by USA military not by oil or gold. When Iraq trying using gold as currency for every oil trade, US make fake announcement about mass weapon and its happen to Libya too. US company right now holding most oil contract in Iraq and Libya

USA does not produce the oil. They have collected a lot of oil through their polices. US dollar is surely not backed by oil, i think no currency is backed by the oil. US Dollar should be backed by the Gold but i have some doubt that if it is 100% backed by gold or not.