Dusty asked in Social ScienceEconomics · 12 months ago

How stable can the U.S dollar be after over 40 years on fiat currency?

It apperar to me that no economic plan using Fiat currency has ever lasted but 40 to 50 years. With OPEC still demanding .U.S currency for oil this is the only reason it is still in play. Should we loose that we are done

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  • Ray
    Lv 6
    11 months ago

    OPEC nations use the USD because of its stability, not the other way around.

    USD has been more stable then any currency in history, so let's give it credit for this. USD has had a steady inflation rate which is far more stable then any commodity including gold.

    OPEC nations using the petrodollar does not benefit the USD, it benefits the oil companies by giving them a stable asset of trade. Imagine if they pegged it with the Venezuelas Boulevard in the 90's? Theid be **** now.

    The Euro is looking promising but its track record is still low.

  • Oiy
    Lv 6
    12 months ago

    The status quo of USD is great due to only one thing, the great foundation of the US economy.

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