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A lot of the Dollars value are due to trade of oil being conducted with US dollars. Thus the Federal reserve has had a special privilege of being to able to pri
by acd 9y ago
A lot of the Dollars value are due to trade of oil being conducted with US dollars. Thus the Federal reserve has had a special privilege of being to able to print new US dollars through debt which a large commodity oil are being traded in.
However with the rise of electric cars in the future there may be less demand for the Petro dollar. How will a new world currency be formed, will it be a Petro Yuan or will it be a global crypto currency like Bitcoin? Doesnt a new global crypto currency need to have around 2% inflation new coins per year to stop hoarding from occurring?
US produces a lot of IT-services for example Amazon, Google, Microsoft, Uber, Netflix, Arbbnb Dropbox but nowadays less physical goods.
https://en.wikipedia.org/wiki/Monetary_hegemony https://en.wikipedia.org/wiki/Monetary_hegemony
Rise of the Petro Yuan
https://dailyreckoning.com/rise-petro-yuan-slow-erosion-dollar-hegemony/ https://dailyreckoning.com/rise-petro-yuan-slow-erosion-doll...
Historically reserve currencies has lasted around 100 hundred years.
https://philosophyofmetrics.com/history-of-world-reserve-currencies/http://www.pragcap.com/wp-content/uploads/2014/06/gundlach1.png https://philosophyofmetrics.com/history-of-world-reserve-cur...