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> Even if they don't happen to take place in the richest nations on earth. Germany 1930s - hyperinflation; Argentina 1990s - hyperinflation; USA 2010s - quanti

> Even if they don't happen to take place in the richest nations on earth. Germany 1930s - hyperinflation; Argentina 1990s - hyperinflation; USA 2010s - quantitative easing. These can also be real problems even for the richest nations. As you correctly mention - Iraq [1] & Libya [2] were essentially currency invasions and NOT oil invasions. Millions of innocent lives lost to keep the USD propped up. Wars that would make no sense under BTC. [1] http://content.time.com/time/magazine/article/0,9171,998512,00.html http://content.time.com/time/magazine/article/0,9171,998512,... [2] http://www.thenewamerican.com/economy/markets/item/4630-gadhafi-s-gold-money-plan-would-have-devastated-dollar http://www.thenewamerican.com/economy/markets/item/4630-gadh...

hapless 13y ago
It is true that QE has tremendously increased the money supply. Inflation remains around 1%. Inflation and money supply do not have a simple or linear relationship. The oil thing is nonsense. All oil sales are enumerated in USD for historical reasons only. Dictators who face embargo by the U.S. would rather sell oil for other currencies in order to evade the embargoes. Iran is trying to sell oil on their own private oil bourse right now. It is an operating concern, today, in 2014. They are perfectly free to sell oil for other currencies, but they are not finding a lot of buyers.