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Old Dec 11th 2017, 07:41 PM
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Michael Michael is offline
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Default Re: Demise of the Petro-dollar?

Quote:
Originally Posted by Tom Palven View Post
This is generally the kind of scenario I've been reading about if the US dollar loses world reserve currency status, although some scenarios are less gloomy:
https://www.quora.com/Will-the-U-S-d...serve-currency
Yes and that's the EXACT same thing they've been saying for 35 years now. They've also been predicting that double-digit inflation will be the result for the same 35 years as well.

US currency has already lost its monopoly on petro-purchases 15-20 years ago. Where is the rising inflation and rampant devaluation of the USD? US Federal Reserve has been running close to 0% prime rate for 16 years now with almost no inflation.

I'll take the actual facts on the ground over pie-in-the-sky speculation every time.
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