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   on-lain ✔ᵛᵉʳᶦᶠᶦᵉᵈ (lain@lain.com)'s status on Thursday, 13-Jun-2024 20:18:47 JST on-lain ✔ᵛᵉʳᶦᶠᶦᵉᵈ
   so saudi arabia let the petrodollar deal run out and it's barely news
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     on-lain ✔ᵛᵉʳᶦᶠᶦᵉᵈ (lain@lain.com)'s status on Thursday, 13-Jun-2024 20:23:15 JST on-lain ✔ᵛᵉʳᶦᶠᶦᵉᵈ

     in reply to

     • :blobcatflower:
     @lucy SA would only sell their oil in USD, so there was a constant buy pressure for USD. That is, even if you have euro, yen, yuan or rubles, you'd first need to buy USD to buy oil from them. Now they can offer it in any currency. Hope they offer it in BTC too, would surely raise the value.
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     :blobcatflower: (methyltheobromine@netzsphaere.xyz)'s status on Thursday, 13-Jun-2024 20:23:16 JST :blobcatflower:

     in reply to
     @lain why is this a big deal?
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     Wrath (eiswald@poa.st)'s status on Thursday, 13-Jun-2024 20:24:07 JST Wrath

     in reply to
     @lain Usually when something unplanned or outside of the control of the usual suspects happens it doesn't get much attention because it's embarrassing and infuriating for them to feel like they're not in or no longer in control.
     
     That or it's actually extremely bad and they want it to have as little coverage as possible so as to avoid a panic, an uprising, etc.
     on-lain ✔ᵛᵉʳᶦᶠᶦᵉᵈ likes this.
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     :blobcatflower: (methyltheobromine@netzsphaere.xyz)'s status on Thursday, 13-Jun-2024 20:26:21 JST :blobcatflower:

     in reply to
     @lain holy shit. what a time to be alive :hehecat:
     on-lain ✔ᵛᵉʳᶦᶠᶦᵉᵈ likes this.
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     Râu Cao ⚡ (raucao@kosmos.social)'s status on Thursday, 13-Jun-2024 20:40:31 JST Râu Cao ⚡

     in reply to

     @lain That's because the Fed's money printer has been going *brrrr* so hard that even petrodollar recycling isn't tipping the scales that much anymore.

     The Fed's balance sheet went from ~500 billion USD worth of U.S. Treasuries in 2008 to ~4.5 trillion USD today, and COVID printing more than doubled the amount they owned in 2020.

     on-lain ✔ᵛᵉʳᶦᶠᶦᵉᵈ likes this.
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     受不了包 (shibao@misskey.bubbletea.dev)'s status on Thursday, 13-Jun-2024 21:47:32 JST 受不了包

     in reply to

     @lain@lain.com i'm convinced that there are so many retail investors who basically just want to keep playing slots i mean the next nvidia that nobody cares but also i don't know oil cycles at all but i dont invest in it so who cares