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For now. I think this will lead to the end of the petrodollar eventually. The world won't put up with it forever.
by nivenkos 4y ago
For now.
I think this will lead to the end of the petrodollar eventually. The world won't put up with it forever.
- avbanks 4y agohttps://www.nakedcapitalism.com/2022/11/debunking-the-petrodollar-myth-pricing-oil-in-dollars-is-just-a-convention.html#:~:text=For%20at%20least%20the%20last,as%20the%20dollar%20becomes%20worthless%E2%80%A6 https://www.nakedcapitalism.com/2022/11/debunking-the-petrod....
- adamc 4y agoUnlikely in the foreseeable term, not because the world loves dollars, but because there are few good alternatives. Euros are probably the best alternative, but studies have suggested that the US is a better place for holding assets. See, for example, https://www.nber.org/digest/apr20/why-euro-hasnt-become-international-currency-stature https://www.nber.org/digest/apr20/why-euro-hasnt-become-inte... Money keeps flowing into the US because it is perceived as safer.
- killingtime74 4y agoWhat will we use.... Euros? Renmenbi? Lol
- nivenkos 4y agoChina proposed using SDRs before.