{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Jason Purcell on the Petrodollar System (part 3)","description":"Links: Tucker talks to Vlad about the role of the U.S. dollar as the world\u2019s reserve currency. They must have been listening to Purcell and O\u2019Leary \u2026 https:\/\/x.com\/TCNetwork\/status\/1755748344465342565?s=20 O\u2019Leary side project (Natural Order Podcast) breaks down the entire Tucker-Vlad interview\u2026 https:\/\/naturalorderpodcast.com\/ep18\/ Possible definitions of \u201cpetrodollar\u201d Revenues from petroleum exports. Dollars paid to oil-producing nations (petrodollar recycling). The currency of oil-producing nations usually fluctuates with the price of oil. E.g.s when the price of oil rises, the currency has more value. Vice-versa \u2026 when the price of oil falls, the currency\u2019s value drops. Thus, Petrodollar\/Petrocurrency? The pricing of oil in US dollars: currencies used as a unit of account to price oil in the international market. Zoltan Pozsar \u2013 Hungarian-American \u201cshadow banker\u201d https:\/\/en.wikipedia.org\/wiki\/Zoltan_Pozsar Moscow Gold https:\/\/en.wikipedia.org\/wiki\/Moscow_gold_(Spain) In the first year of the Spanish Civil War, the New York Times reported on August 7, 1936, that Spanish gold reserves (held in Madrid) were the equivalent of $718 million (US), which was the equivalent to $15.14 billion in 2022 USD. Reports range from 72.6% to upwards of 90% of Spanish gold reserves were given to the USSR months after the outbreak of the civil war. The communist-backed government of the Second Spanish Republic under Francisco Largo Caballero either sold the gold to the Soviets or placed the reserves in Moscow for the Soviets to act as custodians. Well, that was a bad move. Largo Caballero and his Republican cause were eventually defeated by the Nationalist side and Spain was left broke, for most if not all of the remaining gold reserves were sold to France for currency. In the context of the Spanish War, the gold the Soviets ended up with (ostensibly to caretake or use for deposit on future munitions) is known as \u201cMoscow Gold.\u201d The gold taken in by the French is called the \u201cParis Gold.\u201d   King Juan Carlos I of Spainhttps:\/\/en.wikipedia.org\/wiki\/Juan_Carlos_I There is speculation that Spain stayed out of the western oil embargo during the 1970s because of the then-prince and future-king\u2019s business dealings with the Arab oil merchants.Juan Carlos abdicated the Spanish throne in 2014 and as of 2020, he now makes the United Arab Emirates his permanent residence. Warren Mosler \u2013 It doesn\u2019t matter what currency you trade in \u2026 What do you save in?https:\/\/moslereconomics.com\/https:\/\/warrenmosler.com\/ Wesley Schlemmer on The Brian D. O\u2019Leary Show https:\/\/briandoleary.substack.com\/p\/building-wealth-with-bitcoin Peter Schiff (is welcome on the program to talk Petrodollar) https:\/\/schiffradio.com\/ Fountain.FM \u2013 Listen to podcasts, earn bitcoin. https:\/\/fountain.fm\/briandoleary?code=2f1a9cad53 ","author_name":"The Brian D. O'Leary Show","author_url":"https:\/\/briandoleary.com\/","html":"