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.
That's fair. Every agreement is not available online. I've read about but I don't recall the details. I'll see what I can dig up. I wonder if it was a verbal agreement. I just doubt it is fake news. I suspect the real issue is exaggeration.
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This might be interesting to read
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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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