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Finance: What are petro dollars? 8 Views
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Description:
What are petrodollars and what do they have to do with dinosaurs?
- Social Studies / Finance
- Finance / Financial Responsibility
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- Life Skills / Finance Definitions
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Transcript
- 00:00
Finance allah shmoop what are petro dollars Well they're just
- 00:07
money received from the mining of this guy's blood and
- 00:10
guts because yeah oil that's where it comes from yesterday's
- 00:15
stegosaurus is today's refined petroleum and we're talking about a
- 00:19
massive amount of dollars here like you could call them
Full Transcript
- 00:22
master dollars or t rex a dollars or try sarah
- 00:26
dollars big wealth in the nineteen seventies came from the
- 00:30
petro era in the same way that it's led today
- 00:33
by amazon facebook and google When oil prices suddenly spiked
- 00:37
in the seventies the people who won well they were
- 00:40
the ones who had massive oceans of it underground We're
- 00:44
looking atyou saudi arabia and you texas and in times
- 00:48
when there is so much money coming into a system
- 00:50
with a shock well the economic driver of that wealth
- 00:53
becomes a kind of currency itself In fact china's made
- 00:57
all kinds of noise about making their currency now and
- 01:01
oil standard upgrading from the old gold silver and bronze
- 01:04
medal of shame standard that western civilization well he used
- 01:08
to hold so dear petro dollars petro wealth were still
- 01:11
feeling it and weigh no that that makes this guy
- 01:14
Happy at least if you're happy and you know it 00:01:18.389 --> [endTime] never moved
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