[penguinz]

Originally Posted by BigChiefFan

I know exactly what I'm talking about. We have a fiat currency which is based heavily on oil. OPEC nations must trade in U.S. dollars, hence the term PETRO Dollars and the discussion of the topic at hand. I wouldn't think I'd have to put something in context in a thread discussing OIL-that should be a given. Our dollar is no longer backed by gold or silver, so what is it based on? If it wasn't heavily tied to oil, the dollar wouldn't be weakening, now would it? The dollar is based on it's role in global trade, which started with OIL.

You are wrong.