The petrodollar is just another way to drive demand for dollars. A US taxpayer has to have dollars to pay taxes, so that creates demand for dollars. An oil importer had to have dollars to buy oil, so that creates demand for dollars.
"Anyone can make their own currency. The trick is to get anyone else to accept it."
The petrodollar is just another way to drive demand for dollars. A US taxpayer has to have dollars to pay taxes, so that creates demand for dollars. An oil importer had to have dollars to buy oil, so that creates demand for dollars.
"Anyone can make their own currency. The trick is to get anyone else to accept it."
Yeah it's not like everybody independently came to the conclusion that USD was the way to go.
Now everybody who's stuck holding dollars to buy stuff they need got fleeced when the government printed the value of those dollars away. You'll note that doesn't only apply to foreign governments, but also you and me.
I doubt he's paid, just a typical member of the Ukrainian diaspora, grestgrandpa emigrated to Canada after joining the SS. And not a particularly well-informed one, either.
The petrodollar is just another way to drive demand for dollars. A US taxpayer has to have dollars to pay taxes, so that creates demand for dollars. An oil importer had to have dollars to buy oil, so that creates demand for dollars.
"Anyone can make their own currency. The trick is to get anyone else to accept it."
Yeah it's not like everybody independently came to the conclusion that USD was the way to go.
Now everybody who's stuck holding dollars to buy stuff they need got fleeced when the government printed the value of those dollars away. You'll note that doesn't only apply to foreign governments, but also you and me.
The paid troll youтАЩre responding to is literally repeating talking points that have been promulgated everywhere including fucking Investopedia.
YouтАЩre talking to a paid troll who posts under multiple handles.
Still as stupid and the day is long. Good to know.
I doubt he's paid, just a typical member of the Ukrainian diaspora, grestgrandpa emigrated to Canada after joining the SS. And not a particularly well-informed one, either.
Sounds a though you're quite familiar with Ukrainian diaspora in Canada. Enlighten us further.