People say Petrodollar like the value of USD hinges on a single commodity.
It doesn't.
It will not hinge on a single commodity, but likely a basket of commodities going forward.
In fact I realize that I don't even know what this conversation is about
The main take away is that without demand being driven by being a global currency then that 30+ trillion dollar debt should be unsubstanable.
This is an easy to say when the structuring of the debt isn't taken into account.
It's like blindly stating that 20% yield on HBD is unsustainable because "that sounds right".
There are simply too many variables to consider and dozens of hours of research to be done before any kind of speculation can even be made. And that speculation would probably be wrong anyway as even professional economists haven't the slightest clue what is going on.
30 Trillion dollars debt is only unsustainable if it needs to be paid back.
Does it need to be paid back?
Who does the government owe money to?
A lot of that is bonds... right?
A lot of that is simply USD in circulation... which is really just owed back to retail banks.
I don't own any bonds.
I don't hold significant quantities of USD.
The government doesn't pay me or subsidize my activities.
Again seems like not a 'me' problem.
Seems like a good problem for crypto people to have in the long run.
Although short-term would likely be rough due to crippling recession.
Never meant it to be a problem for you per se. Glad to hear you don't expect to be effected by whatever the outcome may be.
LoL maybe I build a greenhouse just in case 🌿