Petrodollar wikipedia page, marked for deletion

Petrodollar wikipedia page, marked for deletion ( en.wikipedia.org )

submitted 2016-09-20T03:49 by salvia_d

5 comments

hunter3 2016-09-20T11:31

what is petrodollar

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salvia_d 2016-09-20T15:05

Check out some of these articles .

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Konran 2016-09-20T15:00

It is what makes the dollar the current Global Reserve Currency.

In other words (ELI5) - because the dollar is used to trade in oil, it means that even with national economic conditions demanding negative interest rates, or hyper-inflation the dollar would remain stable due to its global use in oil trading. This is because the oil industry is intrinsically linked to all things industrial, modern and civilised - i.e. petrol, plastics, pharmaceuticals, etc.

This is about to change with the Special Drawing Rights bond accepting the Chinese Renminbi to join the fund that currently includes the US dollar, GB pound, Euro, and Japanese Yen.

I believe after a time that oil will start to be traded using this new 'denomination', eventually leading to a new Global Reserve Currency (which would be well out of reach of us serfs at the bottom).

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MetalAegis 2016-09-20T12:50

Basically its a system that tries to enforce all oil to be traded in US dollars.

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Konran 2016-09-20T15:04

Basically its a system that tries to enforce all oil to be traded in US dollars.

I would actually call that the Occidental Military Industrial Complex.

Two recent reasons being; (1) Iraq invaded after Hussein proposed trading oil in Euros. (2) Libya invaded after Ghadaffi suggested trading African oil in gold.

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