Posted on 03/27/2022 5:47:26 AM PDT by SeekAndFind
“If the petro dollar is dead, can this man please tell us what system takes its place and how that system is enforced?”
Simple: They use their own national currencies. How hard is that to understand?
The real value of the petro dollar is that we can print money to buy goods and services and it inflates the economies of the world. In other words, the globalist empire is supported by a global tax. If the dollar is not the universal reserve currency, then to preserve parity, first we need to return to being a net exporter of oil and gas and additionally we need to grow other US production and manufacturing so that we are no longer sponging off the rest of the world.
It will be like the Argentinian peso. If we print our way out of debt, like Argentina has in the past, the $ exchange rate will plummet against some basket average of other currencies.
If China takes Taiwan, we better how they will still sell us our chips because otherwise it is all over for us. This is the genius of our globalist economic leaters.
Will the navies of 190 countries all set sail, each protecting ships with their own cargo?
When you say "gold backed" what do you mean? All the gold ever mined is worth less that half the current US GDP for one year. Leaving aside the stone age level depression this would send us into, will there exchange window banks where I can trade my "US Note" for some gold?
Literally nothing of what you have been claiming for months is happening has happened. So I don't think I'm the one whose grasp on reality seems to be tenuous at best.
I further agree with your observation about "the genius of our globalist economic leaders" and was turning to think about how xi jinping sees the world in the hope that he might at least be rational. Bizarre as that sounds, the Biden administration has acted so contrary to the manifest interest the United States that one seeks common sense in even the darkest corners. God help us.
I had a similar experience in the late eighties/early nineties.
A South African surfer of my acquaintance came to Hawaii to surf the North Shore every winter. Oddly, every year he brought an unusually heavy surfboard with him which he immediately ditched in favor of a locally built big wave board.
His broken up SA board would appear in the dumpster shortly after his arrival from Cape Town and he never took his Hawaiian board home with him.
But now Biden has very deliberately split off Russia from the dollar. So Russia must - must - create the 'Petroruble'. Or perhaps 'GasRuble' would be more correct.
Here is a prediction. If pushed to choose one or the other, Germany is going to choose the Petroruble rather than the Petrodollar.
After seeing what happened in Ukraine, I think Taiwan is safe. Man portable platforms have changed the face of war. If there is no MANPAD anti ship weapon out of beta yet, it won’t be long.
FJB put us on DIGITAL MONEY, That is SCARY.
“what system takes its place and how that system is enforced?”
That is the right question—but most folks will not like the answer.
It is beginning to look like financial chaos is in the cards—with no real system taking its place and no way to enforce it.
“Will the navies of 190 countries all set sail, each protecting ships with their own cargo?”
What the hell does that have to do with payment form?
Germany has an export economy. The energy they buy gets converted to hard goods for sale abroad. They have to sell those goods to survive. The US buys something like 5X as much German stuff as Russia does. We are Germany's largest single market. And Russia's buying power before this war was waning. Why would they risk losing our market to link with Russia?
There is a hard power component to the USD reserve currency system. Most international trade goes via ship. In exchange for denominating world trade in dollars, The US guarantees the safe passage of all cargo ships at sea. All merchant ships currently sail under this security umbrella. Several year ago when Somali pirates hijacked a Danish owned ship, it was the US Navy, not the Danes who showed up to kill and capture the pirates. If the USD reserve system is scrapped, who will provide maritime security in international waters in a post USD reserve era?
Biden’s Russia sanctions made it clear to the world that the US could not be trusted with their accounts. If Russia was vulnerable to having their accounts frozen than EVERYONE is. Just like the people in Canada learned when Trudeau punished people he didn’t approve of by impoverishing them.
Shipping has nothing to do with the payment of oil in various currencies.
“who will provide maritime security in international waters in a post USD reserve era?”
Imho it will be private contractors of any nationality—of course some may be former pirates or pirates in disguise.
;-)
Won't that be a circus. The maritime insurance underwriters are going to go bonkers in that environment.
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