FUCK THE PETRODOLLAR. FUCK THE GLOBAL ECONOMIC SYSTEM. FUCK THE (((US DOLLAR)))
>he thinks the value of the dollar is tied to oil somehow
Where the fuck can I buy a barrel of oil? Is there a store or something?
IT just hit -99,99%
So... war?
What's his endgame?
Oil doesn't actually come in barrels. It's a unit of measure. You'd probably have to buy a certain amount before they'd sale, as well as have a tanker truck and a place to store it
It will make war with china much cheaper to do
America Russia and Saudi Arabia BTFO. It is glorious. Anyone want to buy some tomatoes? One barrel per kilo, it is a good deal. Keep your dollars.
Whats so special about today that this is happening? Hitler's birthday?
You're right. It isn't. The "petrodollar" concept seems to be a red herring to distract from the Zionist role in Middle Eastern wars. If the petrodollar was true shouldn't the United States Dollar be worthless now?
God damn, Saudi Arabia and Russia are determined to destroy the USA shale industry.
They don't like us being energy independent I guess.
wait really? need more info on that
To crash the market with no survivors
>My spirit shall rise from the grave...
Oil this low fucks over all oil producers, not just the USA
Current value of oil: 1 cent a barrel. Lowest in history, lowest it could possibly go without being negative.
The value of the USA dollar is actually up:
lmao
*AHEM*
FUCK OPEC
FUCK WAHHABI SAUDIS
FUCK COMMIE RUSSIANS
FUCK SATANIC JEWS
AND FUCK NEOCON AMERICANS
>buy barrel of oil for a dime
>dump oil onto the ground
>sell oil drum for $100
>repeat
Can a "petrodollar" believer explain please?
Thats the May Contract you fucking idiot, what about June?
The real question is how long until Israel attacks Iran?
Doesn't the petroldollar just mean that it is the currency in which oil is traded globally? You don't think this has any benefit for the dollar as a currency? And I might be wrong, but weren't both Khadaffi and Hussein intending to stop using the dollar and instead use the gold dinar? How come the US is big buddies with the Saudis, but with the Israelis at the same time? Salafists and Jews? Saudi Arabia doesn't seem to mind using the dollar.
THE MOON BEAUTIFUL
It's the petrodollar because you have to buy oil in dollars, the dollar was already the world reserve long before oil was traded in dollars by '75. The price of oil isnt relevant to the value of the dollar at all. Heck we've never once gotten the oil from a nation we went to war with, Iraq oil for example Bush gave to china companies. One could argue the demand for dollar will be reduced due to to lower oil sales but that wont effect the valuation of the dollar in a negative way. It's simply not enough traded daily to effect value
0.00$
>0.00$
0.00$
>0.00$
0.00$
>0.00$
ITS FUCKING OVER
Cushing
The petrodollar idea isn't that fluctuations in oil have any particular effect on the USD (it does on economies currencies more tied to oil) but oil producers will save in USD denominated assets making them have a continuing interest in the USD. Saudis don't want the USD to crash.
Which isn't surprising since you can use less dollars now to buy more oil.
DOMP EET
It creates international demand for a reserve of US dollars
CHECKED. NOT EVEN SMINEM CAN SAVE US NOW.
oil printer go blub blub
this is American oil only lmao, euro and saudi oil are barely down today. the only thing getting FUCKED is the good old usa lmao
China has been buying oil with their own currency for a few years now. How has that impacted the strength of the USD?
And like I said previously, it's red herring to distract away from the Zionist role in promoting war in the region.
That demand was already there from WW2, opec pricing in dollars was an effect of that reality not the cause of it
Cold Fusion for the win.
Yes, but imagine how fucked middle east countries are which rely almost 100% on oil for their economy. USA at least has numerous other sources of economic strength.
It's not tied to the value of oil. The Petrodollar is valuable because OPEC agrees to only sell oil for US dollars.
It's the demand for dollars in order to buy oil that keep the dollar valuable, not the cost of oil itself.
It's not like a gold backed currency, where each unit is pegged to a specific weight amount of gold. It's just the demand for oil and the need for dollars to buy that oil.
Think more along the lines of a store or a casino which only accepts its own currency/chips for transactions in that store.
If Amazon only accepted Amazon credits, suddenly Amazon credits are worth a decent amount, even outside of Amazon, because people know they can use those credits at Amazon.
It's a similar thing with the oil market. Most countries are not energy independent and need to trade/import oil. T
Since OPEC is the biggest exporters of oil, and the cheapest, most countries buy from them, but before they buy from them, they have to convert their national currency into American dollars. This creates demand for the dollar.
Low price doesn't affect the dollar then, since it's very likely these countries (and speculators) will probably stockpile oil given how low the price is. Everyone knows oil will go back up at some point, so it's a safe bet.
As for why prices are dropping, Saudi Arabia and Russia are trying to destroy the American Shale oil industry by pushing the price low enough that its not profitable and companies go out of business.
This suspense is terrible, I hope it will last.
OH NO NO NO NO NO
>OPEC agrees to only sell oil for US dollars
That's not true and literally never has been.
Most of the oil OPEC sells is not sold in US dollars.
>Prius not gonna pay for itself now
Nooooooooooo
Its time to shut it down.
Well, this is what I was getting at. Oil being traded in dollars = demand for dollars = higher dollar value. Not saying the value of the dollar is completely based on it. The US is a large first world country with a good economy outside of "hot air" industries like banking and petroldollar trading.
>zionist role
You think the israelis aren't benefiting from oil being traded in dollars, instead of gold dinars? The Jews are in good favour with the Americans, not so much with the Iraqis or the Libyans.
Why all websites are stuck at 0.01?
No support for negative price?