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Good find, very interesting!
Definitely a reference to a quote at the start of WWI (which I consider to be the key event which shaped the whole 20th century):
"The lamps are going out all over Europe, we shall not see them lit again in our life-time" -- British Foreign Secretary Sir Edward Grey
But I just got my suit pressed for dollar death 87,541.
Petrodollars are the primary source of revenue and wealth for many members of the Organization of Petroleum Exporting Countries (OPEC) as well as non-OPEC oil and gas exporters including Russia, Qatar, and Norway.
Need to update that. Russia does not anymore since we confiscated their cash and gold on deposit.
They just want our leaders to keep flooding the system with more money so that the party can continue.
Yes, the party will continue for a little while longer, but once the lights are finally turned off nobody will ever be able to turn them back on again. ***
I think the author is somewhat wearing blinders. 1/. It is true that the U.S. population is not much interested in the dollar as the world's 'reserve currency'. However, we are on track to have a $2 trillion deficit in the federal budget just for this year {despite the administration's continuing lies.}
Going on in the background is inflation, which the administration is continuing to lie about. It has to be at least 20% at present and almost certainly will continue to rise. The deficit spending is being financed by borrowing, and the desirableness of lending America more money is diminishing. The Fed appears to be generating loan money from the country's banks buying the Fed Notes.
At present the interest on that debt is approaching $1 trillion annually, bumping down the defense budget, the entitlements like Social Security, Medicare and welfare type support $$$.
Meanwhile, those national banks are holding Fed Notes that pay 1% - 2% while inflation starts to top 20%. If an individual has a savings account that pays 4% and the inflation rate is 20%, obviously the individual is losing his savings principle value with each passing month. The same would seem to hold true with national banks investing its equity wealth in low yield Fed Notes.
Banks can offset such losses by raising interest on its own loans and cash advances; but such increasing squeeze on available currency for spending will show up in the banks balance ledgers and in the national available currency totals {the term escapes me on this hectic day.} Banks are already failing.
2/. They just want our leaders to keep flooding the system with more money so that the party can continue... That looks good for Wall Street and financial markets but it does not generate a growth economy. The crash of the Great Depression in the '30s proves the folly of such strategies.
3/. Yes, the party will continue for a little while longer, but once the lights are finally turned off nobody will ever be able to turn them back on again ... This is Occam's Razor: when will the bubble burst❓ Some say soon, some say in a year or two, some say in eight or ten years - or more.
The problem is that no one knows, and most are not going to say when and be accused of causing a 'bubble' to burst❗ I think that the Fed and the administration have been playing games to hide the reality of the present danger; just hiding a constantly rising inflation rate while continuing to flood the economy with monopoly dollars is lulling the average citizen into hoping for the best. We 'elders' have all been ensnared in that trap - in 1980, in 1987, in 2008, etc.
Do your best to be prepared for when "the lights are finally turned off." Think 'Barter Economy'✔
dollar collapsing ping
We’ll know it’s bad when Exxon starts taking yuan.
Petro dollars are soon top be renamed Orangeman Bad dollars. Its all propaganda, designed to produce sentiment against the USA.
This propaganda you will realize when the “drill baby drill” policy is renewed, and ANWAR comes on line.We have more oil than Saudi does, laying in the ground.
Who cares about BRIC ? We will put America first, let them chase their petro Dollars, we will have Trump MAGA dollars.
Ask yourself why the lefty a$$hats who are ruining the country want America to be subservient to Saudi oil.
MAGA baby!