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This just seems like a deliberately misleading article. Just taking a glance at it you've got to think straight off -Well sure, dollars go to Saudi Arabia et al
by Traster 5y ago
This just seems like a deliberately misleading article. Just taking a glance at it you've got to think straight off -Well sure, dollars go to Saudi Arabia et al, and sure, some of that might end up in treasuries eventually, but let's not pretend that it's anything like responsible for all the value of the dollar.
So I looked it up. How much oil does the US import? It is a net exporter. This article takes a view of the world as it might have been in 2005, but it isn't today.
Even if you buy the idea that the petrodollar is something America does encourage (using strategic alliances with oil producing countries to keep the dollar the reserve currency in order to use it for diplomatic reasons) that has nothing to do with the carbon cost of the dollar. It's to do with the carbon cost of the US trying to project international power.
It's these sort of articles that make me even more suspicious of Bitcoin ownership.