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View Diary: Cats Tell the Truth about Money (30 comments)

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  •  Global Crude Oil (1+ / 0-)
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    psyched

    Revenues are on the order of $1.2 Trillion per year at the current inflated price of oil. Total US Federal, State and Local Taxes are $5.6 Trillion. The US Debt (which is the number of dollars available to the World to spend) is roughly $16 Trillion. See Total Budgeted1 2013 Government Revenue

    So tell me which provides a greater motivation to hold dollars US taxation, or Oil Revenue.

    Oil Revenue could well be one factor in generating the International demand for the dollar. But that is not the only factor. If the US dollar is say replaced by the SDR for international trade, the world will not collapse for the US. It may be beneficial to the US in that cheap imports will become more expensive - providing the real motivation to go Green.

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