A contemporary science fiction question. any thoughts about the petrodollar/ The U.S dollar as the world is moving away from oil?
As stated in their FAQ: “However, if the petrodollar was phased out gradually and replaced with another currency, such as the yuan, markets may remain stable but the dollar would lose significant power.”
Oil becoming less important seems quite similar to the case of the Dollar being replaced by another standard currency for oil purchases. Might even happen both in parallel.
If it’s not too abrupt, nothing remarkable should happen except for the Dollar slowly becoming a little less important, which is not a catastrophe.
Thanks for your insight
And i obviously completely missed the part of the faq, thanks again.
I would rather call it opinion than insight. Not an economics major, just politically interested layman.
I read Venezuela tried a Petro-cryptocurrency. Venezuela is kind of in no-man’s land as far as inflation and whatever happened to them outside of corruption for me. I read it was a bust.
I’m still interested. I am just trying to broaden my understanding for the applicable use or potential applicable uses for crypto currency. A while back, a little while back i was interested in the subject of Technocracy or something along the lines. My definition at the time in my search was the future governments integrating with technology. In a Wikipedia i found there was a science fiction novel early 20th’s century maybe 1920’s and a person mentioned a future money that was tied to energy.
I did not take that fun fact serious at the time, it was like 2013, or so i remember.
I believe in real life foreshadowing
A quick back to the topic of oil. As we collectively transition off of oil maybe the space programs do not. Maybe oil becomes become even more valuable as Space programs go into further development.
** I just fact checked myself. It was a technocracy movement not a book. Some people feel something about wikipedia, i do and do not, I think it’s a great resource. Here’s what it was
“At the core of Scott’s vision was “an energy theory of value”. Since the basic measure common to the production of all goods and services was energy, he reasoned “that the sole scientific foundation for the monetary system was also energy”, and that by using an energy metric instead of a monetary metric (energy certificates or ‘energy accounting’) a more efficient design of society could be made”
Here is their website today, it’s pretty interesting. Technocracy Inc. – Official Site – Balance and Responsibility
The world is moving away from dollar in general, and I would dare to say that the US gov itself is doing it’s best to devalue the dollar and it’s dominant status with excessive money printing, stimulus plans, subsidies, QE, and close to 0 interest rates
The big question is what will become the new World’s Reserve Currency? Is it bitcoin? the digital dollar (backed by gold or other real assets)? Can it be $ADA?
Dollar reflects the economic mightiness of the most powerful country on this planet, the USA. Whether we like it or not USA remains the leading military, economic and political superpower and it will do anything to retain its primacy. Inevitably, commodities will continue to be denominated in dollars. This will not change in the nearest future. If another country or block of countries (i.e. Eurozone) dares to challenge this primacy it will just face the dire consequences. The USA has proved in the past that it will use both legal and illegal means to keep all others in order. The reintroduction of the Gold Standard of the Bretton Woods System is possible, but objectively the USA will not accept any digital currency to become the “new gold”. If we accept that fact that we will return again in a fixed exchange rate system gold will be again the cornerstone.
I have an objective argument to this. (excuse me for “arguing”) it’s more of an opinion.
China. China in my opinion is coming full force. They’ve been on the “war path” so to speak. Buying up Natural resources all over the world. They have a strong presence in Africa, I read several countries are adopting their currency as a reserve. On top of that they are helping develop the Africans Nations. Roads, trains, manufacturing all that stuff. I just briefly referenced that they spend twice as much as the u.s on development around the world, 60 countries are included in their infrastructure initiative - asia and africa. During Trump’s presidency he mentioned we were behind China and Russia in weapons development (I would prefer we devest in weapons development) but if that’s the race we are in, it’s not good that we are falling behind.
I really support Cardano and their initiative however while the U.S is frenzying over crypto. China is not playing any games.
People talk about U.S businesses accepting crypto. What would it feel like if they start accepting the Yuan?
If iI had the platform I would hit the gavel, get everyone’s attention, and Be very pro U.S dollar supported by the arguments you made and be very honest about the future that lyes ahead. Preaching American Unity in hopes of inspiring other Nations to follow their path in Finding their National identity…
Yeah . . . Until Electricy & ALL THE PARTS needed to make it including LARGE batteries and electrical producing equipment via Solar or GeoThermal are completed . . . YOU ARE Pissing in the Wind . . . Farting in the Wind. Oil & Gas will be here for quite awhile yet.
MAJOR players & countries are buying all the electrical shiza and there will probably be a WORLD WAR over YOUR CLEAN ENERGY. I say go to hell if you don’t get it cheaper than oil & gas.
I live at the beach. Not that you care but to put it in to context with the discussion.
The river from the mainland empty’s into the ocean.
Many of nights I walk the beach and there is debris all the way up.
From research I found out that people are emptying their waste into the river and not to mention the bottle caps, bottles, cups, that are left by tourist.
I ask my self how many people could be putting trash in the river?
Maybe 5 full trash bags maybe 10. Not that many people so to speak but problematic.
This thought inspired the thought of what’s the beef with fossil fuels, like how bad could they be?
Then I think of all the traffic, being in a city, smelling the emissions. The effects are probably worse than most people want to believe.
Think of a scenario of acid rain killing crops. Then if you don’t die from hunger you die from the hysteria something like that would cause.
In Relation to your reply, innovation and a communal shift is a must.
I am believer in a structure of communities that you can basically walk everywhere. outside of the city. A new formation of what a town is. like 1940’s U.s more or less with a Square being the center of commerce.
It goes against the grain of the trajectory of modernization we are going through with ecommerce but i believe it to be the more ideal way of life.
Clean Energy is also using a lot less energy in General. Less T.V, Less driving even if it’s electric, less a/c if you can do it, less heat.
I would rather say that they complement each other. Ecommerce is not necessarily worse for the environment than town squares (after all the goods have to be delivered to the town square, too, and with ecommerce you only have explicitly ordered goods delivered to a town, not goods that are only delivered to stock a shop).
I’d like to have a combination of town squares in walking dances with shops, restaurants etc. that provide quality of life and ecommerce for the things that are not really quality-of-life shoppable, but rather carefully select and than receive in a brown box.
Of course, ecommerce should be ecologically optimised for that: more transportation by ship/train/electric trucks, delivery to central places instead of individual houses, …
@HeptaSean that’s really well said.
In addition to that dream, not to sound too sentimental
Each square with a unique identity distinguishing one from the next.
A healthy competitiveness of the Arts, Sports, Food. A trolly or something available to take you to the furthest square.
Perhaps Acres of Agriculture in between one town to the next
I’m looking for a reapproach to the education system. From the earliest grade. Quite honestly i could see a person finishing grade school at 15/16 and pursuing higher learning whenever they are ready.
Then from this i would imagine that Man’s imagination would advance culture and solve contemporary problems to strengthen that idea of life
In reference to something I picked up about Ancient Greeks. Their formal learning didn’t stop until they were like 30. then they became “Masters” so to speak. If you look at the Ancient Greeks and their Art and their advancements in Math, Architecture and so forth it makes sense.