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Finance: What are petro dollars? 8 Views


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Description:

What are petrodollars and what do they have to do with dinosaurs?

Language:
English Language

Transcript

00:00

Finance allah shmoop what are petro dollars Well they're just

00:07

money received from the mining of this guy's blood and

00:10

guts because yeah oil that's where it comes from yesterday's

00:15

stegosaurus is today's refined petroleum and we're talking about a

00:19

massive amount of dollars here like you could call them

00:22

master dollars or t rex a dollars or try sarah

00:26

dollars big wealth in the nineteen seventies came from the

00:30

petro era in the same way that it's led today

00:33

by amazon facebook and google When oil prices suddenly spiked

00:37

in the seventies the people who won well they were

00:40

the ones who had massive oceans of it underground We're

00:44

looking atyou saudi arabia and you texas and in times

00:48

when there is so much money coming into a system

00:50

with a shock well the economic driver of that wealth

00:53

becomes a kind of currency itself In fact china's made

00:57

all kinds of noise about making their currency now and

01:01

oil standard upgrading from the old gold silver and bronze

01:04

medal of shame standard that western civilization well he used

01:08

to hold so dear petro dollars petro wealth were still

01:11

feeling it and weigh no that that makes this guy

01:14

Happy at least if you're happy and you know it 00:01:18.389 --> [endTime] never moved

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