Cartel

Categories: Econ, Regulations

Yes, yes, we know what you're thinking...what do Pablo Escobar, El Chapo and drug trafficking have to do with finance terms. Well a lot. Much like the infamous drug cartels of the 70s, this term refers to a group of people or businesses (or even countries),who come together to regulate and manipulate the supply and/or price of a specific product or service.

Take OPEC, for example. Although they don't run an illegal drug empire, the world's largest legal (protected by U.S foreign trade laws) cartel was formed by 14 oil producing companies to control, manipulate and regulate oil supply. But it does kinda make it difficult for a poor mountaineer named Jed to get in on the business.

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Finance allah shmoop what are petro dollars Well they're just

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money received from the mining of this guy's blood and

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stegosaurus is today's refined petroleum and we're talking about a

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massive amount of dollars here like you could call them

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master dollars or t rex a dollars or try sarah

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dollars big wealth in the nineteen seventies came from the

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petro era in the same way that it's led today

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by amazon facebook and google When oil prices suddenly spiked

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in the seventies the people who won well they were

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the ones who had massive oceans of it underground We're

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looking atyou saudi arabia and you texas and in times

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when there is so much money coming into a system

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with a shock well the economic driver of that wealth

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becomes a kind of currency itself In fact china's made

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all kinds of noise about making their currency now and

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oil standard upgrading from the old gold silver and bronze

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medal of shame standard that western civilization well he used

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