Comments by "Kristopher Driver" (@paxdriver) on "The Fake Petrodollar Story - No, Saudi Arabia Didn’t Ditch the Dollar" video.

  1. Give them all the time in the world they still won't read.. Because they can't. They got degrees by paying and memorizing, not by learning to interpret or apply critical thinking. Those words are just hollow compliments now, they don't mean anything to newly hired journalists fresh out of exam-culture because they're cheaper than veterans. When was the last time you read an editorial that explained something more than one layer deep. Productivity skyrockets from technology these past 20 years but somehow journalists still believe that every scheme is simple and superficial as it used to be lol.
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  2. Correct me if I'm wrong, but if the world left the dollar as the reserve currency over night, it would lose value, thus the oil futures contracts would massively increase in value, so Americans who held open commodity contracts or foreign stocks everywhere on earth would suddenly surge due to the exchange rate of every currency against the dollar. So if we go off the dollar overnight we'll make billionaires of oil industry mogols, entertainment, foreign bonds of all kinds, and property in an instant. The wealthy of the country could hugely benefit from this if they're diversified, only the bottom 70% of the population not owning any foreign stuck would suffer from this... In fact wages and everything would plummet relatively, making everything cheaper for the billionaires who quintupled their tax-preferred foreign investments, enabling them to scoop up middle class property as it dropped in value absent buyers at fair market price due to increased costs if personal imports like clothes, food, and now oil. This would be a huge transfer of wealth if it ever happened, imho. That risk isn't worth the benefit of exporting inflation, rather pay what you owe every year rather than defer under the sword of Damacles in perpetuity.
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