[2016-11-16] Could Bitcoin Break the Petrodollar Monopoly and Bring World Peace?

[Gembul]

NEWS BITCOIN - Could Bitcoin Break the Petrodollar Monopoly and Bring World Peace?

The term “petrodollar monopoly” refers to the exclusive use of U.S. dollars as the pillar that upholds the banking cartel’s economic power.

To regain its dollar monopoly after the historic Bretton Woods Agreement collapsed in 1971, the U.S. struck a deal with Saudi Arabia. The petrodollar was formed as oil was sold exclusively in dollars, and surpluses were held in U.S. debt securities. In return, the U.S. provided arms and protection.

Many on both sides of U.S. politics find this relationship unsavory, claiming it often runs counter to American interests and even causes conflict.

READ MORE >>> https://news.bitcoin.com/bitcoin-break-petrodollar-monopoly-peace/

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[Dassi]

I do not see the House of Assad favouring bitcoins over USD in oil sales. Who will supply them with weapons and keep their dynasty in power - a decentralized system of miners and crypto traders?

 

[aso118]

I do not see the House of Assad favouring bitcoins over USD in oil sales. Who will supply them with weapons and keep their dynasty in power - a decentralized system of miners and crypto traders?

 

It won't be initiated by the House of Saud, that is for sure. If the monopoly has to be broken, the first steps will happen from countries who have a natural distrust of the US, countries like Russia and Iran.

[yayayo]

First of all: Bitcoin.com is a propaganda "news" site, controlled by obstructionist racketeer Roger Ver where he tries to promote the pro-centralization Bitcoin Clone UnlimitedCoin. In addition, the site frequently pushes out marketing announcement disguised as news stories to promote the companies Ver is invested in (such as blockchain.com).

Bitcoin could break the petrodollar monopoly, but it clearly won't bring world peace, because there are a lot of other reasons for armed conflicts than just oil and gas. Besides that, the petrodollar monopoly has already come under pressure by the actions of other nations such as Russia, Iran, India and China, who are actively seeking alternatives to the USD for international trade.

I think, in the long run, Bitcoin might end the regime of debt-based fiat money altogether. Even without world peace that's a huge step forward.

ya.ya.yo!

[mindrust]

No one can break petrodollar unless the USA do it itself. If you try something that silly, every secret service agent out there will find every crypto users out there and terminate them one by one. Iraq tried something like that in the past btw, that's how i am so sure. Ending the petrodollar deal simply means ending USD. That cannot happen. On the contrary of what everyone believes, Iphone ain't the number 1 export of the USA. USD is.