Could you please voice your opinion here. I would really appreciate your wisdom in an area I’m really uneducated in. Good morning.
China and Russia have been stocking up on gold for years. The plan has been to collapse the dollar as the world currency. And you can’t believe the amount of gold they report they have, especially China.
Adding to the dollar problem is the oil. Not much need for Petro dollars ( most oil sales are in dollars, although China, Russia and Iran has been using other currencies) I wonder if Saudis and Russians are purposely flooding the world with oil, they certainly aren’t happy with United States being the number one producer. Our producers cannot survive long at $20 a barrel. There is no storage capacity anymore, and the producers in Midland have been asked to halt production. Some company in North Dakota offered to pay 19 cents for taking their oil. Thankfully President Trump filled up strategic reserves, I wish he could open up more strategic reserves and buy it up.
Enough of my rant about gold and oil, lol. This has been a long time in the planning with Russia and China.
I wonder if the President isn’t worried about borrowing trillions because the dollar will be devalued. Devaluation not only helps our exports, it basically wipes out our debt. The only reason our dollar has been as strong as it is, is because we had higher interest rates than other countries, and other countries are in a lot worse shape than we are.