undefined | Better HN

0 pointsdehrmann1y ago0 comments

> that the US will protect international shipping, and in return all petroleum contracts will be priced and executed in dollars

People say this, but the dollar is free-floating against other currencies and oil is priced on (OPEC-manipulated) supply and demand, so it seems like an accounting fiction. Like, we could price oil in pork belly futures.

0 comments

anon848736281y ago

Yes but they are settled in dollars, and all the countries of the world are in fact holding dollar reserves.

j / k navigate · click thread line to collapse

0 comments

anon848736281y ago

Yes but they are settled in dollars, and all the countries of the world are in fact holding dollar reserves.

j / k navigate · click thread line to collapse