The Day Crude Oil Proved that Only Gold is Money.

2개월 전

Today I touch upon the implications of what a negative price for oil really means for the world's current monetary system or the petrodollar.

My conclusion is that a commodity that is consumed like crude oil is not fit for the purpose of being the foundation for a global reserve currency.

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Thanks again, Maneco64. Just when I almost started to understand negative interest rates, negative oil prices come along. Only when gasoline is free at the pump will I believe it.

As Mike Maloney says in his latest YouTube video 'OIL ARMAGEDDON' this drop in oil prices wipes out quite a few countries whose primary export is oil. It will badly impact the USA, the world's largest oil producer.

Thank you for the great interview yesterday evening with Tony Planos.