That's why gold is not ideal as a currency. Its rarity and useful electrochemical features shouldn't be tied up artificially as a proxy for valuing other things.
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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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