Definitely as planned. But, above all, WE MUST SUPPORT ZELENSKY and THE UKRAINE PROJECT. /sarc
Inflation is a very simple concept to grasp. The fact that all these eggheads are “puzzled” by inflation means they’re in on the scam. They know exactly why high prices persist.
I guess their attempt to apologize for allowing the Las Vegas assassination attempt to proceed has been unsuccessful.
Sounds like Saudi Arabia could use a little “democracy” to keep them in line.
The world is getting ready to move onto the QFS system. Every country will still have their own currencies which will be backed by hard assets. BRICs is leading the way. US banks are training for the change over right now. Likely within two years or less we will all be on the new system. If this is the first you’ve heard about it you need to read up so you won’t go into shock over it.
I wish I knew enough about this subject so I could keep my head in the sand.
Four percent of the world's population has more than its share of "activities" around the world, all to prop up its share of activities around the world -- on a credit card issued by the Fed and used by Democrats and RINOs "because we can," as I write using an old Clinton theme.
Can, until we can't.
This is nonsense. The Fed and the Treasury have all the tools they need to support the dollar, including, but not limited to, reducing the dollars in circulation (and dollar equivalents, transaction wise) compensating for, and offsetting, the lower dollar demand from the Saudi oil trade. The lower levels of dollars (and their transaction equivalents) that remain available, together with continuing international trade, and continuing international trade priced in dollars, will continue to support the dollar in ways that will totally offset the Saudi moves.
“The other argument is that the dollar is backed by the full force of the US military, and the US military is backed by the US Treasury and the Federal Reserve – In other words, the dollar is backed by…the dollar; it’s a very circular and naive position. “
No, the real argument is that fiat currencies are backed by productivity, and the U.S., despite constant predictions of our demise, is still the most productive nation on the planet.
In any case, loss of reserve status would help the US in the medium to long term as more stuff would have to made here and more resources extracted here. It would also mean foreign investment in the US would grow.
“Yes, that’s right, the head of Saudi Arabia is backing the eventual end of oil based energy, and part of that includes the end of the dollar as the petro currency.”
If the author really thinks the Saudis are happy to go along with ending the dominance of oil, I have some bridges he may be interested in buying.
"The U.S. dollar’s dominance is underappreciated. As of late-2022, the greenback accounts for 59.79% of total foreign reserves. In comparison, the Euro accounts for 19.66%, while the Chinese renminbi accounts for just 2.76% of global reserves.China could expand its market share by twenty-fold and still lag the U.S. dollar by a wide margin.
Put simply, replacing the U.S. dollar in foreign reserves is easier said than done."
Guess we need to use our own oil.
With a dollar collapsing, how would the rest of the world take advantage of the US economy? The US will have some negative effects, but many countries rely on us for their business. With a low dollar they will be too expensive. The world will be instituting their own “tariffs”.
self ping
self ping
self ping
Hard money (gold, etc.) protects the common man from indiscriminate inflation of the currency, and it limits the government’s ability to act without public support (i.e. taxes). So it’s a good thing. However, it has little to do with which currency will be the world’s reserve currency. That is determined mainly by the quality of a government’s debt. Debt spelled backwards is investment and having a place to park money where it can safely earn a return is the biggest factor in determining where money will rest between transactions.
I wish I earned a dollar for every time I’ve read an article about the demise of the dollar.
I’d be wealthier than Tom Steyer.
I think the answer for the US is to become energy independent again, just like we were a few short years ago under President Trump.
If we are not exporting dollars for oil, but are exporting oil for dollars, our currency suddenly looks a lot stronger.