21 Apr 2023 10:16 am
That’s why I said “pretending “Xavier_Onassis » 21 Apr 2023, 10:04 am » wrote: ↑ No currency is backed by petroleum. Petrodollar just refers to dollars used by OPEC and other oil exporting nations to deal with imports and exports.
There is absolutely NO CHANCE that the US will ever return to a gold standard. Good money drives out cheap money. The Swiss Franc has been the most stable currency, but it causes the cost of living to rise for the Swiss, so they have been forced to devalue it.
we made a deal with Saudi Arabia for them to only sell oil on the markets with US dollars, and most every oil country fell in line
that artificially inflated our dollar, making the money lords feel all warm and fuzzy
but now that other nations are trading their own currencies for oil .. the “fake” party is about to be over
never said a word about going back to the gold standard