Comments by "Fredinno" (@innosam123) on "Is Sudan the next breadbasket?" video.

  1. Zeeshan Niazi The amount of trade in dollars dwarfs the total amount of trade in oil. People use dollars because it’s convenient to use it as a default considering it’s backed by a massive economy and the currency is kept stable (unlike the Yuan, for instance). The only other option that could conceivably be better is Gold, but there’s likely not nearly enough Gold in the world for the amount needed. Prices would go through the roof, and you’d have a situation similar to that of the Great Bullion Famine. Hence why they used to back Dollars with Gold.
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