ShmoopTube
Where Monty Python meets your 10th grade teacher.
Search Thousands of Shmoop Videos
Education Videos 108 videos
What is bankruptcy? Deadbeats who can't pay their bills declare bankruptcy. Either they borrowed too much money, or the business fell apart. They t...
What is After Hours Trading/Extended Trading? After hours trading describes any trades made after the market closes or before the market opens. Bec...
What is the Dow Jones Industrial Average? The Dow Jones Industrial Average is usually just called the Dow. It’s an average of 30 of the most well...
Finance: What are petro dollars? 8 Views
Share It!
Description:
What are petrodollars and what do they have to do with dinosaurs?
- Social Studies / Finance
- Finance / Financial Responsibility
- College and Career / Personal Finance
- Life Skills / Personal Finance
- Finance / Finance Definitions
- Life Skills / Finance Definitions
- Finance / Personal Finance
- Courses / Finance Concepts
- Subjects / Finance and Economics
- Finance and Economics / Terms and Concepts
- Terms and Concepts / Accounting
- Terms and Concepts / Company Management
- Terms and Concepts / Credit
- Terms and Concepts / Econ
- Terms and Concepts / Education
- Terms and Concepts / Entrepreneur
- Terms and Concepts / Ethics/Morals
- Terms and Concepts / Forex
- Terms and Concepts / Index Funds
- Terms and Concepts / Insurance
- Terms and Concepts / International
- Terms and Concepts / Investing
- Terms and Concepts / Marketing
- Terms and Concepts / Metrics
- Terms and Concepts / Regulations
- Terms and Concepts / Tech
- Terms and Concepts / Wealth
Transcript
- 00:00
Finance allah shmoop what are petro dollars Well they're just
- 00:07
money received from the mining of this guy's blood and
- 00:10
guts because yeah oil that's where it comes from yesterday's
- 00:15
stegosaurus is today's refined petroleum and we're talking about a
- 00:19
massive amount of dollars here like you could call them
Full Transcript
- 00:22
master dollars or t rex a dollars or try sarah
- 00:26
dollars big wealth in the nineteen seventies came from the
- 00:30
petro era in the same way that it's led today
- 00:33
by amazon facebook and google When oil prices suddenly spiked
- 00:37
in the seventies the people who won well they were
- 00:40
the ones who had massive oceans of it underground We're
- 00:44
looking atyou saudi arabia and you texas and in times
- 00:48
when there is so much money coming into a system
- 00:50
with a shock well the economic driver of that wealth
- 00:53
becomes a kind of currency itself In fact china's made
- 00:57
all kinds of noise about making their currency now and
- 01:01
oil standard upgrading from the old gold silver and bronze
- 01:04
medal of shame standard that western civilization well he used
- 01:08
to hold so dear petro dollars petro wealth were still
- 01:11
feeling it and weigh no that that makes this guy
- 01:14
Happy at least if you're happy and you know it 00:01:18.389 --> [endTime] never moved
Related Videos
GED Social Studies 1.1 Civics and Government
What is bankruptcy? Deadbeats who can't pay their bills declare bankruptcy. Either they borrowed too much money, or the business fell apart. They t...
What's a dividend? At will, the board of directors can pay a dividend on common stock. Usually, that payout is some percentage less than 100 of ear...
How are risk and reward related? Take more risk, expect more reward. A lottery ticket might be worth a billion dollars, but if the odds are one in...