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110 sats \ 6 replies \ @kepford 20 Jun \ on: Doom is not a strategy bitcoin
Good article but this is incorrect.
It did exist. The part that people have been wrong about is the collapse of the dollar. I have never heard anyone dispute the existence, even those that refute the impact. The gold bugs have been claiming the dollar will collapse for longer than bitcoin has existed.
The argument against the collapse of the dollar due to oil not being traded in dollars is that treasuries are what has a larger impact on the strength of the dollar. That said, people say this is a significant sign of the long term weakening of to dollar.
If the agreement existed, where can I read it? I'm genuinely curious. I would think it should be the type of thing covered in a FOIA request if nothing else.
In good faith, I'm not going to jump to assessing the impact of an expired agreement if I can't read it in the first place.
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Thank you for tracking this down! I will give it a read.
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Seems the agreement people refer to was made in secret. Hasn't been acknowledged publicly or officially from what I have read. mises.org and other sources have mentioned that the agreement has long been ignored and they linked to this article. One of the few establishment outlets that actually acknowledge its existence.
I would call this petrodollar agreement a conspiracy theory in its purist form. Most likely one that is true based on what we have witnessed since the 70s. I think it is far more likely some under the table agreement was reached than not.
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I'm probably a bit older than you and I've noticed a thing that is interesting. Its the idea that if something can't be searched or found online it doesn't exist. In this case I don't doubt the agreement. What I do doubt is that many know about the details. Like an expiration. I'd like to see proof of that. But your broader point about credit and debt is right on.
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