Correct. And if you and I know this, how long do you think other heads of state have known?
The reality is, the world is dependent on us because even getting siphoned slowly in USD is better than holding any other fiat currency. Without other countries holding the dollar, they’d have to purchase oil in their local currencies.
Good luck with that lmao
Until something better comes along. Bitcoin maybe?
The problem with buying oil in hard currency is, for poor nations, they end up not being able to afford energy as the price gets bid up by economies of scale.
We’re moving towards a world where energy gets priced in USD, CNY, Gold, and bitcoin, depending on who’s trading with who. And for the poor countries, they’ll have to use another country’s fiat as a reserve in order to access the energy market because they’ll struggle to acquire enough hard currency to satisfy their energy needs.
