{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Jason Purcell \u2014 The Petrodollar System (Part 2) - The Brian D. O'Leary Show Ep 93","description":" The Brian D. O\u2019Leary Show December 5, 2023 Jason Purcell \u2013 The petrodollar system (Part 2) Ep. 93   Check us out on Substack: https:\/\/open.substack.com\/pub\/briandoleary\/p\/jason-purcell-the-petrodollar-system?r=3c44f&utm_campaign=post&utm_medium=web We welcome financial analyst Jason Purcell on the program for the second part in a series on the history of money and banking. We\u2019re talking about the \u201cpetrodollar\u201d once again. Jason is working on a book on the topic which includes a chapter about his theory of the \u201cPetrodollar System.\u201d You can find the first episode at our Substack page (and on all podcatchers): https:\/\/briandoleary.substack.com\/p\/the-petrodollar-system-part-1-w-jason Jason will be on the show again soon to complete his analysis of the petrodollar system. Once we complete the discussion, we\u2019ll have a longer compilation episode and more robust show notes page for you.   Topics discussed: A Spate Of Recent Deals Raises Chatter Of A Fading Petrodollar (Forbes) \u00b7        Jason mentions this article as an entry point into our discussion. Petrodollar-Saudi Axis Is Why Washington Hates Iran \u00b7        Gary Richied article that Jason mentions. "Petrodollar" search at Mises.org \u00b7        https:\/\/mises.org\/search-mises?search=petrodollar \u00b7        Several mises.org articles reference \u201cpetrodollar\u201d (36 at last count). Take some time and read the free resources. \u00b7        Jason\u2019s theory runs somewhat counter to what you\u2019ll hear in Forbes or mises.org, but it helps to have the background Not So Fast My Friend! \u00b7        Lee Corso autographed 8x10 poster (eBay) OPEC \u00b7        OPEC countries include: Algeria, Angola, Republic of the Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, United Arab Emirates, Venezuela o   The host was unaware that Nigeria was a part of OPEC. It is! \u00b7        OPEC+ is a loose grouping of countries that includes Azerbaijan, Bahrain, Brunei, Brazil, Kazakhstan, Malaysia, Mexico, Oman, Russia, South Sudan, and Sudan.   BRICS \u00b7        Governments represented are from countries: Brazil, Russia, India, China, and South Africa. Dollar hegemony (Monetary hegemony) \u00b7        Monetary hegemony is an economic and political concept in which a single state has decisive influence over the functions of the international monetary system. A monetary hegemon would need: o   accessibility to international credits, o   foreign exchange markets o   the management of balance of payments problems in which the hegemon operates under no balance of payments constraint. o   the direct (and absolute) power to enforce a unit of account in which economic calculations are made in the world economy. Key Currency \u00b7        a currency which is stable, does not fluctuate much, and provides the foundation for exchange rates for international transactions. Because of their global use, key currencies tend to set the value of other currencies. Also, these currencies tend to have a stable valuation over time. A key currency usually comes from a country that is financially strong, economically stable and developed, and one that is involved in the global market. Currency Converter (Yahoo!) \u00b7        https:\/\/finance.yahoo.com\/currency-converter\/ Petroleum refining in the United States \u00b7        (Wikipedia) https:\/\/en.wikipedia.org\/wiki\/Petroleum_refining_in_the_United_States Bank Charter Act 1844 (Peel Act) \u00b7        Also known as the \u201cPeel Act\u201d Bearer Bonds, et cetera in Die Hard \u00b7        Die Hard (1988) \u00b7        Bearer bonds and how they figure into the plot (a McGuffin, if you will) o   Bearer Bonds \u00b7        Die Hard $100,000 American Bearer Bond.  (eBay)  This was a real movie prop. \u00b7        A more modestly priced replica of the \u201cNakatomi Bonds\u201d available at Etsy \u00b7        Taxes in Everything: Die Hard Edition o   As for questions with your own taxes, and for your free report on ideas for over 60 Business Expense Ideas and a few personal deductions:  visit www.agoristTaxAdvice.com\/oleary o   Matthew Sercely, the man behind Agorist Tax Advice was a recent guest on the show. Check it out ... https:\/\/briandoleary.substack.com\/p\/matthew-sercely-agorist-tax-advisor Jason Purcell\u2019s Links   Jason Purcell \u2013 LinkedIn https:\/\/www.linkedin.com\/in\/jasonmpurcell\/   Purcell Investments - YouTube https:\/\/www.youtube.com\/@purcellinvestments   Email Jason contact@jpurcell.me   Supply & Demand Update - Instagram https:\/\/www.instagram.com\/supplyndemandupdate\/   Jason Purcell Senior Writer, Financial Markets at The Lake Street Review https:\/\/www.thelakestreetreview.com\/profile\/jpurcell525\/profile     To learn more about the fine community of people where Jason and I first met: Tom Woods School of Life   Social Media, etc. Follow us on Twitter. Yes, I still call it Twitter\u2026 Brian O\u2019Leary on \ud835\udd4f-Twitter   Fountain.FM Listen and support us at the same time over at Fountain.FM For all the rest of it, go to BrianDOLeary.com for more information. Disclaimer: Opinions expressed on the podcast do not necessarily reflect the views of the host or The Brian D. O'Leary Show. Opinions or assertions expressed by guests of The Brian D. O'Leary Show are their own and any statements or advice on this podcast or written material for the show are for general information, educational, and entertainment purposes only and should not be construed as personal tax or financial advice. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented on this podcast, its notes, or website before seeking appropriate advice from an accountant, lawyer, or other professional.   ","author_name":"The Brian D. O'Leary Show","author_url":"https:\/\/briandoleary.com\/","html":"