If the oil producing nations sell their oil for dollars and then immediately exchange said dollars to their local currency, this will make the petrodollar a meaningless term.
Saudi Arabia, for example, has signed an official agreement (in the early days of starting their oil industry) with the US government to store all their oil income as dollars in US banks within the United States.
Not giving the US the benefit of the doubt leads me to assume most (if not all) oil producing nations have done the same.
Not A Girl™
npub1aaaa...qnwc
Bitcoin & lightning node owner & operator
Digital artist (Stable Diffusion)
So let's see, in addition to my Ubuntu server, my Raspiblitz #lightning node and my #bitcoin hardware wallet, I have:
- bought a Google Pixel
- Wiped it clean and installed GrapheneOS
- Installed Obtainium
- Installed a VPN
- Installed Amethyst
- Created a vanity npub on my local machine
This is the first time in my life that I've gone 100% FOSS.
How am I doing?
Hi everyone GM & PV!
I'm new here, escaped X looking for freedom.
I always wanted to be 100% free online and #nostr seems just the right place in addition to #bitcoin.
I'm so glad to be here and to meet all you wonderful nostriches!
#plebchain