"USD is already de-facto backed by oil [Petrodollar]" Kind of, but not really, and not in a free market way. The $ is backed by the us military. You can't have

"USD is already de-facto backed by oil [Petrodollar]" Kind of, but not really, and not in a free market way. The $ is backed by the us military. You can't have competing currencies becoming Petro-X. If you try, you "get democracy" in your country.