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5min chapter
Demystifying the Petrodollar Scheme with Alex Gladstein (WiM082)
The "What is Money?" Show
Issuing the Ultimate Monetary Good for Energy and Finance?
The petro dollar is a transition from the dollar system, which had essentially been pegged to gold. The world's reserve currency inumera used to be gold. Used to be asset money. And to day, it's debt money. It's a liability of the us. Government. We were like, searching for something to peg the dollar two. I well, what if we could peg the dollard oil, right? Wouldn't that be interesting?
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