And so it begins .... the downfall of the US dollar hegemony.

LightRoasted

If I may ...
For your consideration ...

Better start preparing for hyperinflation. Because the US dollar not being needed to be held in reserves in other countries, can only be spent here. So all those dollars we sent to other countries in trade, (buying from others what we used to make here), will now be spent here buying up anything and everything these holders of US dollars can buy, bidding up the price of EVERYTHING. Remember, Nixon made this deal with the House of Saud just a couple of years after he ended the convertibility of the dollar into gold. And with the current occupant of the White House, and his masters that pull his strings, who in their right minds would want to deal with the degeneracy and malfeasance we now represent on the world stage?

On another note ... isn't it quite telling the deafening silence from the media since this decision was made by Saudi Arabia on June 9th? Or maybe, soon, Saudi Arabia will be declared our enemy and become a part of WWIII?

 

Hijinx

Well-Known Member
It's like I have said before. America's money is now Confederate money and only good as long as people accept it..

The more countries that realize how far in debt we are and start using other people currency instead of ours the less our dollar will be worth.
The national debt has always been bad, but this idiot in the White House and doing Obama's bidding has run that debt up to a point where other countries are getting worried
 
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LightRoasted

If I may ...
For your consideration ...

It's like I have said before. America's money is no Confederate money and only good as long as people accept it..

The more countries that realize how far in debt we are and start using other people currency instead of ours the less our dollar will be worth.
The national debt has always been bad, but this idiot in the White House and doing Obama's bidding has run that debt up to a point where other countries are getting worried

Not only that, but countries the world over are tired of the US and its antics. If more and more countries join BRICS, and stop trading altogether in US dollars, we will be in deep do-do. They want a stable and predictable currency, something the US dollar is not.
 

Hijinx

Well-Known Member
For your consideration ...



Not only that, but countries the world over are tired of the US and its antics. If more and more countries join BRICS, and stop trading altogether in US dollars, we will be in deep do-do. They want a stable and predictable currency, something the US dollar is not.
Right now something no other countries is stable either, But some countries are working at stability, while we keep printing.
 

HemiHauler

Well-Known Member
While we don’t need to support the mechanics or ethics of this system, it is crucial to understand how it operates rather than worry about illusory threats to US dollar dominance. The expiration of this agreement is unlikely to present a real threat to the current financial hegemony of the US dollar.

The notion of the petrodollar, often perceived as a system shifting from a gold peg to an oil peg, is largely a myth. The global reserve system does not fundamentally depend on a direct oil-to-US dollar peg.

Petrodollars are indeed a component of the broader Eurodollar system, and the sale of oil in currencies other than the US dollar already occurs without destabilizing the system. The majority of global oil transactions are still priced in US dollars initially, even if other currencies are used at settlement time. Therefore, if currencies like the Renminbi or Yen devalue against the US dollar, buyers must still pay more in their local currency to acquire the same amount of oil.

Further, the US has trade relations with a huge array of nations. We have several industry-leading companies HQ’d here. We have loads of natural resources. Foreign capital can pour in. Finally, we have the US Navy to protect global shipping/trade, to ensure that goods flow cin both directions.

Our currency is and will always be in high demand, i.e. strong — compared to a basket of global currencies. A stronger dollar makes US-made goods more expensive to trading partners. Conversely, foreign made goods are less expensive to the US market.

The news contained in the piece likely won’t have much impact on the strength of the dollar, in my view. It’s a worthy policy issue for sure. But that’s about as far as my concern goes.
 

LightRoasted

If I may ...
For your consideration ...

While some might think this is fake news, the fact the Saudi Arabia has joined the BRICS coalition, sends a strong signal to other energy producing countries. Links to Nasdaq and MSM respectively.

U.S.-Saudi Petrodollar Pact Ends after 50 Years

Saudi Arabia becomes official member of BRICS bloc to strengthen economic ties


While it may be possibly true that they haven't officially, through diplomatic channels, ended Nixon's petro-dollar agreement, by joining BRICS, they have defacto given notice to the US.

What we are witnessing is the continuing slow motion train-wreak that will destroy the US economy. Saudi Arabia, has now, publicly, as a member of BRICS, says it will sell their oil, energy, in other currencies. This is absolutely huge, even though Hemi says otherwise. Our deflated, debased, becoming more and more worth-less everyday currency, is very unappealing to Saudi Arabia and other countries. Especially when there are many other more stable currencies.

Remember, Saddam Hussein wanted do the the same thing, as well as Muammar Gaddafi, see what happened to them? Iran has been doing this for a while now as well, but we can't just go and start a war with them to bring them back into line, now can we? Now with Saudi Arabia doing the same thing, the writing is clearly on the wall.

What is really happening, those that control this Nation behind the scenes, see, and know, what is happening. At the same time, while squeezing out the out last vestiges of our labor and productivity, they are establishing themselves in other countries to profit from their labor and productivity. Just as all parasite do. When they have finished with all that, they will simply allow our economy to implode, having taken all our wealth and resources with them.

This paper is a very good read to more fully understand the petro-dollar and its declining dominance. In part, ... bolded for emphasis.

"Unlike the dollar dominance, the future of the oil industry looks diverse. There would be numerous currencies in the trade of oil and nations are incentivized to trade with their own currencies. For example, on 8 March 2023, the majority of the Russian oil purchased by Indian consumers was paid for in non-dollar currencies, such as the United Arab Emirates dirham and, more recently, the Russian rouble (Blackmon, 2023). This means the role of oil hegemon is no longer accepted and the fear of consequences for not using the dollar has dissolved within the industry. This displays the weakening dollar and the development of those who display the economic power and courage to go after the role of oil dominance."

How has the US maintained hegemony in the international oil trade through its control of the Middle East?

We need a good deep depression to reset everything.

When it comes, it won't be a depression as was in times past. It will be an economic catastrophe unlike anyone here has ever seen, let alone lived through. Nearly everything of importance this Nation consumes is imported. Even our food and medicines. What will happen when these importing counties want more and more of our devalued currency to compensate them? What happens if they refuse our currency outright? Bread lines? I don't think so, since much our our farm land is now owned by foreigners, Bill Gates, etc.. Many of our meat processing plants, and feedlots, are now foreign owned. Anyone here think these people are going to be altruistic and help us out?

Plan and prepare accordingly.
 

Chopticon64

Active Member
You folks hate this country, we have the most amazing industries under all presidents and you hate it.

You want communism, and I’ll fight that with my whole heart
 

Kyle

Beloved Misanthrope
communism
1718542603883.jpeg
 

LightRoasted

If I may ...
For your consideration ...


Ah yes. Post propaganda designed solely to quell the fears of regular people. While those in the know position themselves to ride out the coming economic storm.

Any btw, we do not hate or are anti-America, we love our Country/Nation. What we hate is our treacherous and treasonous government. Huge difference.
 

SamSpade

Well-Known Member
If someone tells you - you have a hornet's nest under your gutters, or you have clear evidence of black mold or even termites in your crawlspace --

They are NOT - "being negative". They're warning you. They're giving you VITAL information to save you.

IF however, they bombard you with trivial crap that will never amount to anything - they're Debbie Downers. They're pests, and they don't have your interests at heart. Basically - they're trying to get attention.

The movement AWAY from the dollar - I'm CAUTIOUS. And obviously, having the world's currency BE the dollar is preferable.

Forewarned is forearmed.
 

Hijinx

Well-Known Member
For your consideration ...



Ah yes. Post propaganda designed solely to quell the fears of regular people. While those in the know position themselves to ride out the coming economic storm.

Any btw, we do not hate or are anti-America, we love our Country/Nation. What we hate is our treacherous and treasonous government. Huge difference.
Let me say this I hate what our Government has become. Not what it was set up to be.
Lawfare, crazy regulations, taxes, a weak military with Obama appointee's running it.
A President that was elected in a corrupt and crooked election, Chuck the Schmuck running the Senate.
DEI , illegals,, inflation, all brought to us by the democrat party and half of the people too stupid to see and believe the results.

I love the Government as it was before Bill Clinton , Obama and this dipstick we have now.
 
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