India makes first Iranian oil purchase in seven years with no payment problems

Bartering at least sometimes seems to carry a stigma of being for less evovled societies than our free market capitalism where we have currency and don't need to directly barter for goods/services. I think it's a nonsensical stigma. Like, I think you have to have some bad ideology to view bartering this way.

Bartering was the primary form of trade before standardized currency was common place. So people mentally equate it to being uncivilized/primitive. Though in reality I'm sure on a national scale countries barter with each other more than they exchange money.

May i present to you the new currency the pedodollar!

Noooo wont somebody think of the megacorps!! What about the stock prices!?!!? How will the government print money to give to banks and multibillion dollar companies when they take huge risks and lose??? Without this how will be afford stock buybacks? Now how will we import tens of millions of economic units from the biomass of the global south to drive down the wages of the native born population to raise gdp without innovation?!? It’ll trickle down bro just wait gdp will eventually improve your life!!! ??? We need this so oil companies can stay rich and afford to pay off politicians to prevent renewables from being built!!! Wont somebody think about the bankers??? Im so desperate for european approval what will they think of us now??? Dont americans know that history ended and theyre supposed to do nothing ever again just like europe???? Were supposed to be subsidizing them by building and maintaining global economic, technological, and military infrastructures for them to use risk free?!?!!

> petro dollar is going away. If you’re sure of it, you stand to make a fortune.

The companies which purchase Crude Oil are not in the business of selling Pharmaceuticals.

Drachmas malaka!

There's no chance it's replaced "soon", but this is one step on a ladder towards that happening in the future. The entire world more or less hates the US being the bully with a big stick in the room, they're going to start pivoting away and making themselves less exposed.

What's insane is underestimating the Yuan as a potential replacement. They've made all of the right moves to establish themselves as a viable alternative and this does nothing but strengthen that argument.

So start offloading. Got to start somewhere

Sounds like an argument for decoupling from it, the sooner the better. The entire point of the euro was exactly because it's better and more stable for each individual country involved to use and manage a collective currency than it is for each country to have their own. Countries like the US and China match them in economy, but the thing is they're one country and thus their representatives have full control over their currencies, for better or worse, and we're now seeing the downside of that with the US. Poland can take an economic tumble and the euro will largely be the same, the same can't be said for the dollar or yuan if and when they have issues. Likewise the UK left the EU and never used the euro but that didn't make or break the currency either despite being one of the biggest european economies.

They've been decoupling from the US. And this will accelerate. You gotta remember most of the drop we have seen has been because of foreign investors fleeing. It will be US citizens bagholding at the end of the day. Foreign capital always flees first

There's good arguments to move to the Euro as a reserve currency. Far more stable in terms of geopolitical adventurism, and much less likely to be abused as leverage.

I heard an anecdote about Hitler's approval rating be 25% in West Germany in the early 50s even after the horrors of the Holocaust and the near total destruction of Germany

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I’m pretty sure the person you’re replying to is rage baiting