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RE: What is Cryptocurrency, but a Return to Human Dignity in Economics? (Thoughts on crypto, humanity, and the inevitable upcoming clash between coin and state)
Right now the dollar is still backed by oil, but not for long.
Oil? Whose oil?!!
In reply to the question about who's oil. Any country that is still selling Oil for dollars, those sales are supporting and backing up the dollar. I know you don't believe that Oil is no longer sold for dollars, do you?
OK, you're talking about petrodollars. I thought you were referring to actual oil production which, as I understand is actually much more available in Canada than it is in the States... As for the petrodollar, though, be interesting to see whether the Chinese and Russians manage to change that. Looks like they're making a pretty good attempt to...
Yea, That's the reason I said not for long.
True!