dChan
Anonymous ID: 7765c5 Feb. 20, 2022, 7:55 a.m. No.15674122   🗄️.is 🔗kun   >>4153 >>4271 >>4285

>>15674051

Think about this, the energy sector. Every product had a cost of energy, in some form, built into the price. The petro-dollar is backed by petroleum consumption. Crypto is created and maintained by energy, from any source; petroleum hydrocarbons, hydro-electric, wind, nuclear, and solar.

 

Imagine your crypto miner is powered by an off grid solar, and connected to the IOT via satellite.

 

You're "printing," storing, sending, and recieving, units of mutually agreed upon value without a middleman bank. The policies that apply to your particular crypto-currency are written and agreed to by the founder and users, versus the Fed & Congress.

 

Retailer acceptance and wage payment are the final hurdles before crypto subsumes the federal reserve note as the primary unit of value.

 

The "global warming" crowd's insistence on reducing fossil fuel usage combined with high petroleum prices is driving solar and wind which will further devalue to petro-dollar.

Anonymous ID: 7765c5 Feb. 20, 2022, 8:22 a.m. No.15674284   🗄️.is 🔗kun

>>15674271

You don't have to buy electricity though. You only have to invest in power generation, which can be solar, hydro, bio-diesel or even plant based ethanol.

Anonymous ID: 7765c5 Feb. 20, 2022, 8:26 a.m. No.15674303   🗄️.is 🔗kun   >>4411

>>15674285

Petrodollars and the System that Created It

Will the Petrodollar Collapse?

 

The petrodollar is any U.S. dollar paid to oil-exporting countries in exchange for oil. The dollar is the preeminent global currency. As a result, most international transactions, including oil, are priced in dollars. Oil-exporting nations receive dollars for their exports, not their own currency.

 

In addition, most oil-exporting nations own their oil industries. That makes their national income dependent on the dollar's value. If it falls, so does their government's revenue.

 

As a result, most of these oil exporters also peg their currencies to the dollar. That way, if the dollar’s value falls, so does the price of all their domestic goods and services. That helps these countries avoid wide swings in inflation or deflation.

 

Key Takeaways

The 1945 U.S.-Saudi agreement created the petrodollar.

The purchasing power of a petrodollar relies on the value of the U.S. dollar.

The shift from oil to other renewable energy sources could threaten the petrodollar.

 

Read the whole article here:

 

https://www.thebalance.com/what-is-a-petrodollar-3306358