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The reaction to 70's era oil embargo as opposed to the overall global monetary system. The oil embargo was a use of the monetary system not an intrinsic part of
by detourdog 10mo ago
The reaction to 70's era oil embargo as opposed to the overall global monetary system. The oil embargo was a use of the monetary system not an intrinsic part of it's development.
- JumpCrisscross 10mo ago> oil embargo was a use of the monetary system not an intrinsic part of it's development Oil embargo was about embargoing oil. It wasn’t monetary. It was about denying essential commodities.
- detourdog 10mo agoYes, we reacted with a financial tool. Everyone uses the influence they have.
- JumpCrisscross 10mo ago> we reacted with a financial tool Oil embargo was about America not having oil. We didn’t react with a financial tool to that, but with security guarantees via our military. Putting the financial piece first reverses causation on the order of a decade.
- detourdog 10mo agoI don't think so I think the US had many levers one might have been security guarantees. To try to separate the US influence into specific categories is the same as trying to dissect a joke or a frog. https://quoteinvestigator.com/2014/10/14/frog/ https://quoteinvestigator.com/2014/10/14/frog/