14 Name a bigger conspiracy than petrodollar. What if libertarians/CorbettReport is right about fiat being backed by oil lithium opium organ harvesting and social credit (media.conspiracies.win) posted 55 days ago by defenderOfMontrocity 55 days ago by defenderOfMontrocity +15 / -1 35 comments download share 35 comments share download save hide report block hide replies
Why do you single out Saudi Oil when I did not?
Are you claiming that Saudi Oil isn't priced in USD?
The Bretton Woods agreement was that the Saudi's would sell their oil only for dollars.
The key word being 'sell' not 'priced', this required buyers to actually obtain dollars to buy the oil and established the PetroDollar.
Now that the Saudi's no longer require dollars for their oil, the petrodollar is history.
So, are you claiming that Saudi Oil isn't priced in USD?
Yes or no?
Of course it was priced in USD. The Saudi's required payment in USD that was the point. Pricing is fungible just like oil, the whole point is that the Saudi's required Payment in USD. Pricing is irrelevant.
I literally explained why the relevant part is the pricing, not the currency.
Are you retarded?