It's just a trading token, a dollar doesn't have value either. Hell, gold only has value because it's durable and rare and people like it, it's not like gold has any particularly useful properties when viewed in the context of its rareness. All money is shared delusion.
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Iran, Iraq, and Libya would like a word...
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Those weren't actually about oil. If they were, we would have taken the oil.
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You're right, they were about what format the oil is traded in, not the oil itself.
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Nah. Iran can trade oil in rubles and it wouldn't make much difference. The value of the dollar doesn't really come from that.
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imo they're more concerned with trading in gold than any other nations' fiat. We can lean on other nations with our force projection, gold just is.
End of conversation
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