Cartel
Categories: Econ, Regulations
Yes, yes, we know what you're thinking...what do Pablo Escobar, El Chapo and drug trafficking have to do with finance terms. Well a lot. Much like the infamous drug cartels of the 70s, this term refers to a group of people or businesses (or even countries),who come together to regulate and manipulate the supply and/or price of a specific product or service.
Take OPEC, for example. Although they don't run an illegal drug empire, the world's largest legal (protected by U.S foreign trade laws) cartel was formed by 14 oil producing companies to control, manipulate and regulate oil supply. But it does kinda make it difficult for a poor mountaineer named Jed to get in on the business.
Related or Semi-related Video
Finance: What are petro dollars?8 Views
Finance allah shmoop what are petro dollars Well they're just
money received from the mining of this guy's blood and
guts because yeah oil that's where it comes from yesterday's
stegosaurus is today's refined petroleum and we're talking about a
massive amount of dollars here like you could call them
master dollars or t rex a dollars or try sarah
dollars big wealth in the nineteen seventies came from the
petro era in the same way that it's led today
by amazon facebook and google When oil prices suddenly spiked
in the seventies the people who won well they were
the ones who had massive oceans of it underground We're
looking atyou saudi arabia and you texas and in times
when there is so much money coming into a system
with a shock well the economic driver of that wealth
becomes a kind of currency itself In fact china's made
all kinds of noise about making their currency now and
oil standard upgrading from the old gold silver and bronze
medal of shame standard that western civilization well he used
to hold so dear petro dollars petro wealth were still
feeling it and weigh no that that makes this guy
Happy at least if you're happy and you know it 00:01:18.389 --> [endTime] never moved