The End Of The Petro-Dollar May Be Upon Us

Source: by Vince Quill

Vladimir Putin recently signaled possible crypto adoption for Russia.

However, the Russian President also cited concerns with the volatility of digital assets and cryptocurrencies, saying that it was still too early to settle oil trades in digital assets.

That being said, he still signaled that Russia is aiming to replace its U.S. Dollar reserves with some sort of digital asset or cryptocurrency on a longer-term scale.

For those unfamiliar with the status of our currency, here is a concerning fact: the only reason our Dollar currently holds the coveted status of global reserve currency is due to its use as the petrodollar.

Basically, all oil trades must be settled in U.S. Dollars. Whether you are selling or buying oil internationally—you must pay, and receive payment in Dollars.

Because of this, pretty much every single country on the planet keeps U.S. Dollar reserves.

Vladimir Putin’s concerns over crypto volatility and oil trades is spot on. These assets fluctuate too wildly to serve as a way of settling oil trades, but what happens when they aren’t?

Cryptocurrencies and digital assets are fairly new, and any new asset class is going to have a fair amount of volatility present in its market, but things change.

As people continue to adopt cryptocurrencies, countries begin to recognize them as legal tender, and regulations set in, the volatility will no doubt decrease.

Click this link for the original source of this article.
Author: Nwo Report


This content is courtesy of, and owned and copyrighted by, https://nworeport.me and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.

0 Comments
Inline Feedbacks
View all comments
USSANews.com USSANews.com
A better search engine: DuckDuckGo.com.
Another search engine: Bing.com.
Visit our forum at Libertati.com.
Visit our store at TeaPartyGear.com.

Follow us: