--- title: "Meaning & Key Takeaway of: But the petrodollar system is not about…" description: "\"“But the petrodollar system is not about oil, per se. It is about a system of sustaining the worldwide need for a paper currency by linking it to a tru..." image: "https://sms4smile.com/quotes/i/110/kelly-mitchell-44645_climate_but-the-petrodollar-system-is-not-about_571297.jpg" --- # But the petrodollar system is not about oil, per se. It is… ![“But the petrodollar system is not about oil, per se. It is about a system of sustaining the worldwide need for a paper currency by linking it to a true global necessity – oil.” quote by Kelly Mitchell](https://sms4smile.com/quotes/i/110/kelly-mitchell-44645_climate_but-the-petrodollar-system-is-not-about_571297.jpg) [Download](https://sms4smile.com/quotes/i/110/kelly-mitchell-44645_climate_but-the-petrodollar-system-is-not-about_571297.jpg) [Open image](https://sms4smile.com/quotes/i/110/kelly-mitchell-44645_climate_but-the-petrodollar-system-is-not-about_571297.jpg) > ““But the petrodollar system is not about oil, per se. It is about a system of sustaining the worldwide need for a paper currency by linking it to a true global necessity – oil.”” [Kelly Mitchell](https://sms4smile.com/quotes/author/kelly-mitchell/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The petrodollar system sustains global demand for paper money by tying it to oil, not oil itself. **In simple terms:** Petrodollar links currency to oil demand, not oil. Key Takeaway Recognize how energy ties to finance. Themes economics energy finance Mood analytical critical Type economic strategic When to use this quote - investment strategy - policy analysis - energy market forecasting Key Concepts global monetary policy resource dependency geopolitics Questions to Reflect On - What alternatives could reduce currency dependence on oil? - How does this system affect emerging economies? A Different Perspective Reliance on oil may hinder diversification. ★ ★ ★ ★ ★ No ratings yet [Climate](https://sms4smile.com/quotes/about/climate/) [Global Necessity](https://sms4smile.com/quotes/about/global-necessity-4714543/) [Necessity Oil](https://sms4smile.com/quotes/about/necessity-oil-4714544/) [Paper Currency](https://sms4smile.com/quotes/about/paper-currency-337562/) [Sustaining Worldwide](https://sms4smile.com/quotes/about/sustaining-worldwide-4714546/) [Worldwide Need](https://sms4smile.com/quotes/about/worldwide-need-4714545/) ## Related quotes > [The available supply of gold and silver being wholly inadequate to permit the issuance of coins of intrinsic value or paper currency convertible into…](https://sms4smile.com/quotes/abraham-lincoln/the-available-supply-of-gold-and-silver-being-wholly-inadequate-to/) [Abraham Lincoln](https://sms4smile.com/quotes/author/abraham-lincoln/) > [Mischief springs from the power which the moneyed interest derives from a paper currency which they are able to control, from the multitude of…](https://sms4smile.com/quotes/andrew-jackson/mischief-springs-from-the-power-which-the-moneyed-interest-derives/) [Andrew Jackson](https://sms4smile.com/quotes/author/andrew-jackson/) > [At present, financial crises occur, chiefly because the paper currency is redeemable in gold only.](https://sms4smile.com/quotes/john-buchanan-robinson/at-present-financial-crises-occur-chiefly-because-the-paper-currency/) [John Buchanan Robinson](https://sms4smile.com/quotes/author/john-buchanan-robinson/) > [American money was never more sound, or banking more free, than 200 years ago. Since then, it's been a long steady decline from the…](https://sms4smile.com/quotes/llewellyn-rockwell/american-money-was-never-more-sound-or-banking-more-free-than-200/) [Llewellyn Rockwell](https://sms4smile.com/quotes/author/llewellyn-rockwell/) > [The Federal Reserve Act as it stands seems to me to open the way to a vast inflation of the currency. I do not…](https://sms4smile.com/quotes/henry-cabot-lodge/the-federal-reserve-act-as-it-stands-seems-to-me-to-open-the-way-to-a/) [Henry Cabot Lodge](https://sms4smile.com/quotes/author/henry-cabot-lodge/) > [The founders of our nation feared paper currency because it gave government the means to steal from its citizens.](https://sms4smile.com/quotes/walter-e-williams/the-founders-of-our-nation-feared-paper-currency-because-it-gave/) [Walter E. 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The system demands perpetual growth in order to maintain the…](https://sms4smile.com/quotes/kelly-mitchell/the-principal-is-created-by-the-banks-but-the-interest-owed-is-not/) [Kelly Mitchell](https://sms4smile.com/quotes/author/kelly-mitchell/) > [“Napoleon was convinced his system of sound money could defeat the vaporous credit creation of the British. He felt that people would reject a…](https://sms4smile.com/quotes/kelly-mitchell/napoleon-was-convinced-his-system-of-sound-money-could-defeat-the/) [Kelly Mitchell](https://sms4smile.com/quotes/author/kelly-mitchell/) > [It's depressed when sometimes, the people you love most, is sad, and caught up with a huge heartache, and the only think you can…](https://sms4smile.com/quotes/kelly-mitchell/it-s-depressed-when-sometimes-the-people-you-love-most-is-sad-and/) [Kelly Mitchell](https://sms4smile.com/quotes/author/kelly-mitchell/) > [“The run is already currently occurring, but in slow-motion. 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