Petrodollars, Bitcoin, and the Fed
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In this video, I elaborate on yesterday's video, demonstrating how the US-Saudi petrodollar deal was not a legal agreement with an expiration date, but rather a global consensus that has been unravelling over the past few years, as nation-states begin to trade in crude oil using rupees, rubles, yuan, and gold as payment.
The end result of this unravelling is that there will be fewer nation-state, central bank, and corporate holders of USD and US Treasuries, which puts pressure on the Fed to make up the difference. This has inflationary consequences, but is good news for Bitcoin's fiat price.
I also discuss how holding Bitcoin ETFs instead of real BTC puts you at a huge disadvantage when it comes to self-custody and censorship-resistant payments.
Not investment advice! Consult a financial advisor.
Free Bitcoin videos:
https://www.bitcoinuniversity.com/courses/80320-free-bitcoin-videos
Death Of The Petrodollar:
https://www.youtube.com/watch?v=sOpKxg_usg8&ab_channel=BitcoinUniversity
Exclusive: India's Reliance to buy Russian oil in roubles, sources say:
https://www.reuters.com/markets/commodities/indias-reliance-buy-russian-oil-roubles-sources-say-2024-05-28/
UAE dirham:
https://en.wikipedia.org/wiki/United_Arab_Emirates_dirham
China-Saudi Sign $7bn Currency Swap Deal in Fresh Hit to Dollar:
https://www.asiafinancial.com/china-saudi-sign-7bn-currency-swap-deal-in-fresh-hit-to-dollar
Chinese yuan gains currency in the Gulf states:
https://eastasiaforum.org/2024/01/17/chinese-yuan-gains-currency-in-the-gulf-states/
China’s largest oil supplier in 2023 was Russia:
https://www.cnn.com/2024/01/22/business/china-top-oil-supplier-2023-russia-intl-hnk/index.html
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#Bitcoin
#oil
#fed
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