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Explaining the petrodollar.

Summary:
Petrodollars are dollars earned by oil exporting nations. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.mmteconomics.com/ Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/ Understanding the Daily Treasury Statement video course. https://www.pitbulleconomics.com/understanding-daily-treasury-statement-video-course/?s2-ssl=yes

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Petrodollars are dollars earned by oil exporting nations.



Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader.

https://www.mmteconomics.com/



Mike Norman Twitter

https://twitter.com/mikenorman



Mike Norman Economics: https://mikenormaneconomics.blogspot.com/



Understanding the Daily Treasury Statement video course.

https://www.pitbulleconomics.com/understanding-daily-treasury-statement-video-course/?s2-ssl=yes
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

21 comments

  1. You have so much knowledge mike

  2. A true new yorker

  3. FTX is why no one is qualified to return to or should be elected to office AND WHY WE NEED TERM LIMITS! i also understand he was 1 of those behind "THE SCIENCE" during the "pandemic" with lock downs and against treatments, funding studies to confirm their bias for the jab & remdisivir
    i love public hangings and he qualifies and i'd volunteer to pull out the floor but i also want more like those in the D & R parties involved in the grift along with those in WEF. i would cheer bankman if he ripped off the elites' investments like eliz holms did to ppl like ass kissinger with the use of PCR..

    this kind of garbage doesn't end till horrific executions don't at least match = or exceed the crimes committed against humanity.

  4. You talked about the mechanisms of the petrodollars going back to the US. But you didn’t really talk about the implications. If the trade deficit falls, then that’s good for the dollar I guess but I’m guessing there’s more to it than that.

  5. I worked as a runner on the floor at 4 world trade in 1981 . I had a market order for 500.000 to give to the Trader I stepped on the ring look for him..The next thing I knew I went frying through the air to the ground after being pushed by a different Trader because I put my foot on the Ring. .
    Never did that again.

  6. I think he may have been a frontman for some clever people , maybe being naive

  7. Exports are a cost and imports are a benefit.

  8. Don’t the dollars for our oil exports go to the oil companies and stay here until taxed away?

  9. Could this amount of dollars going back to the US be increased on account of countries decreasing the amount of dollars reserves they have? For the purpose of being in a less risky position if the US decides to freeze their accounts when they do something the US doesn't like (example: Russia invading Ukraine).

  10. I didn't understand the conclusion. So, dollars are being taken out of the global reserve system. But what are the consequences?

  11. I thought the MMT take was that oil being Priced in dollars was irrelevant, because that is just a price. You could still pay with another currency

    • Yes, that is the MMT view.
      What is this loser Mike running off at the face now about? Some other non-MMT view of his, being touted as some foolish way to make money and understand why things are the way they are the "Mike Norman foolish version MMT-way", rofl.
      This con-man Mike never quits. Clearly he's shown he has failed as hard as anyone, all the while telling you why you're wrong and do not understand rofl. A true narcists!

  12. Thanks Mike, love what you do.

  13. The trade deficit doesn't matter. There are a dozen wealthy countries with a trade deficit and a dozen wealthy countries with a trade surplus. The buying power of your workers is down to other factors.

    • Mike Norman MMT Economics

      It’s a financial deficit and a surplus in goods so it’s actually a benefit.

    • @Mike Norman MMT Economics Depends. German, Ireland and The Netherlands all have living standards higher than the USA, and that's with quite sizable trade surpluses

  14. Mike you should start a podcast!

  15. Put some women in your pool theory so that your channel gets more views. Paul Todor Johnes guy gave
    you a good example. I don't mean to troll here. But without "women having fun" your pool is too empty.

  16. That kid and his generation ought to be sent to reform school – or prison.

  17. Reach out to Tim Poole. Get the younger generation to listen to you through these other outlets

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