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DartrixE54 OP t1_jef1cnb wrote

The main argument for Hyperinflation I've seen its about Saudi Arabia no longer taking dollar for the oil transactions, Dollar beeing backed by oil, this seems like danger, However, that may be misinformation as well

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alexm2816 t1_jef44y7 wrote

Ask yourself, if you sold 11% of the global supply of something globally but 75% of your sales of that something was sold in North America and 39% of your sales of that something was sold to the US what currency would you probably want to consider using?

The beautiful thing about the internet is that anyone can share their thoughts and information. The bad thing is that most of that information is trash and makes no sense once you peel back the first thinnest layer of the BS onion.

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Liquidretro t1_jef62j4 wrote

The USD isn't backed by oil, it's backed by full faith and credit of the government. A very small percentage of oil used in the USA comes from Saudi Arabia these days. https://www.eia.gov/energyexplained/oil-and-petroleum-products/imports-and-exports.php

Saudi Arabia depends heavily on the USA for defense and purchases billions of dollars of weapons a year.

Do some research on the stuff these people are telling you before you try to make financial decisions on it. I wouldn't take world advice or financial advice from these people, they seem to be in deep with conspiracy theories they see on social media.

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CaptainObvious t1_jefcasc wrote

Don't believe social media.

Crypto dorks are trying to fear monger their shit speculative investments back into some value before they dump all of it and run away with your money.

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