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No Petroleum, No Problem? - Dr. Simon Michaux, Geological Survey of Finland # 259

The DemystifySci Podcast

CHAPTER

Navigating Economic Turbulence: Historical Patterns and Future Implications

This chapter explores the historical volatility of commodity prices since 1970, analyzing key events that have shaped market dynamics, including the 1973 oil embargo and the effects of the COVID-19 pandemic. It discusses the implications of rising national debts and the transition from a petrodollar system to a commodities-backed economy amid geopolitical tensions involving the BRICS nations. By drawing connections between historical conflicts and economic strategies, the chapter emphasizes the precarious state of the global economy and the potential for significant shifts in the financial landscape.

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