Posted on 06/17/2024 5:56:50 AM PDT by Heartlander
NotSoFast!!! What other currency can replace the dollar? The wannabe tyrants want to hurt the USA more than help the world economy. But can they pull it off? We may end up with a underground petro-dollar. The dollar has been horribly mismanaged (on purpose?) by Biden administration, but what other nation’s currency has the world confidence to replace the USD?
It’s easier to destroy then to build and that’s what OBiden has been doing these past four years. The ultimate goal of his administration is to tear the United States down and put it on an equal footing with other nations. But the truth is, the vacuum will be filled by either Russia or China.
On one hand this seems significant but on the other hand, why do markets seem unaffected by it?
“The End Of The Petrodollar Is The End Of America’s Global Dominance”
So what, we took out a few thousand Russians in the process. Isn’t that all that matters?
The other side of the Petrodollar agreement is the USA would defend Saudi Arabia from the other terrorists. This is why there were U.S. bases on Saudi land for the first Iraq war. The Saudis saw the Afghan Debacle and figured they would have better defensive allies elsewhere. Now of course, if Trump wins the Saudis might want to work with Trump to renew the Petrodollar status.
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This will all change once the USA starts exporting oil again.
Russia is terrified of $50 oil. Their world would collapse.
American dominance doesn’t depend on petrodollars, but on the ideals that made America great. Things like free enterprise capitalism; a productive, can-do spirit; good moral behavior; and a willingness to discard evils like slavery and abuse of women.
Don’t have to replace it.
Just not use the dollar.
Pop quiz:
Which country is the world’s largest producer of oil?
OPEC is outdated.
A high dollar hurts American manufacturing. The end of the PetroDollar helps American manufacturing.
“Russia is terrified of $50 oil. Their world would collapse.”
Russians generally live in tiny apartments that have no place to store Chinese-made chattels hauled home from weekend SUV forays.
The Russian blocks of flats still stand.
Most of the cars still run.
The electricity flows.
The meat and bread come from Russia without regard to sanctions.
The ordinary Russian never saw a dollar or Euro from exported oil.
Not if Donald Trump is re-elected with a Republican majority in the House of Representatives and supermajority in the Senate.
>>>if Trump wins the Saudis might want to work with Trump to renew the Petrodollar status.
Agreed! The Saudis saw diaper Biden weak on the world stage.
Let’s not forget Biden’s desire to destroy fossil fuels for the internal combustion engine and promote EV’s.
“The end of the PetroDollar helps American manufacturing.”
Don’t worry Obama/Biden and the Democrats will make sure that increased taxes and regulations will wipe out any advantage that brings.
In the mean time, the value of our savings will be destroyed.
1 Barrel **** Saudi Reserve Note **** 1 Barrel
This instrument is good for one barrel of oil and its loading at points designated by Saudi Arabian law.
“Due to the discovery of silver in the American West, and surplus of that metal, in 1878, Congress authorized silver dollars as backing for U.S. paper currency. Known as Silver Certificates, these notes were backed by an equivalent dollar amount of silver deposited into the U.S. Treasury, and was payable to the bearer on demand for the note’s face value in the precious metal.”
https://uspapermoney.org/silver_certificate.php
Account #21214 didn’t roll over...
There might be a loading minimum of 5,000 barrel.
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