What exactly is a Petrodollar and how does it work?

Question

I’ve been researching petrocurrency and have read many definitions but am having a hard time wrapping my head around exactly how it works. Is it a similar concept to the Gold Standard or something else entirely?

In: Economics

Answer 1

So you know how a dog is a pet. And many dogs bark sound like ‘Ro Ro Ro’. So a Pet Ro Dollar is money backed by all the bestest boys long term investments.

Compared to the Petmeowdollar, the Petrodollar is less stable but always trends happy.

/S