It’s Not an Energy Crisis. It’s a Currency Crisis.The world is "crying for a rescue" - the "system is breaking" because energy is too expensive.
But if you change the scenario (the POV), the story flips.
Since the world decoupled from gold in 1971 (end of Bretton Woods Agreement or Gold Standard),
- Oil is being measured against fiat currency (primarily USD).
- Now look at the Gold-to-Oil ratio:
- In 1972: It took 0.06 oz of gold to buy one barrel of oil.
- Today: just 0.02 oz of gold to buy the same barrel.
The Reality: In terms of "hard money (Gold)," oil has actually gotten 66% cheaper over the last 50 years.
Oil Rates in USD terms:
* ~3.5 USD per barrel in 1973
* ~90.0 USD per barrel Today
-----Prices Drastically Rose--------
