Free Republic

When German-born Kim Dotcom talks about "the US", he sounds like me talking about "the Globalists". Speaking on the The Alex Jones Show, Kim says that the US is leading the world into a nuclear war, to avoid facing up to its crimes. He says the an asset-based BRICS currency would be preferred for trade by virtually every country over the US dollar, where you risk being impetuously sanctioned over some BS that isn't even true. Kim says, "My big worry is that, you know, once the realization sinks in that this is not reversible, that Russia and China are...

@glennbeck So, the FBI held onto video evidence for DECADES showing that Saudi Arabia may have helped plan 9/11. Why release it NOW? Does this have anything to do with Saudi Arabia’s threat to end the petrodollar? Did the United States just threaten global war?

This month, rumors about the petrodollar have spread like wildfire all over the Internet. Some of what is being said is true, and some of what is being said is false. When other sources were reporting on “the death of the petrodollar”, I was asked why I was not writing about it. Well, the truth is that I was not writing about it because the petrodollar is not dead. It is certainly in trouble, but it is not dead. Today, most oil continues to be sold in U.S. dollars, and most global trade continues to be conducted in U.S. dollars....

When Biden took office, he inherited the over 630 million barrels of oil left behind by the Trump and other previous administrations.This was not far off the high of 727 million barrels in 2010.Biden allowed the reserve to begin falling and then catastrophically depleted it to improve his party’s chances in the 2022 midterm elections. And he’s been at it again in 2024.Now despite failing to refill the strategic oil reserve, he’s talking about emptying it further from the 300 million barrels or so in order to have an outside chance of winning the 2024 election.Jennifer Granholm, Biden’s Secretary of...

The End Of The Petrodollar Is The End Of America’s Global DominanceEvery nation has had to convert its currency to the U.S. dollar, making it the de facto global currency. Thanks to Joe Biden, it’s all gone.The petrodollar agreement with Saudi Arabia began in 1974, two years into Joe Biden’s first term as a United States senator. It ended this week, a half-century later, during Biden’s first term as U.S. president. Among all the news stories that matter, few rank higher than this. It’s bigger than President Trump and Hunter Biden’s convictions, bigger than jobs reports and inflation numbers, and...

(Kitco News) – The established financial world order of the past 50 years is now transitioning to a new and unknown paradigm as the petrodollar agreement between the U.S. and Saudi Arabia was allowed to expire this past Sunday. The term ‘petrodollar’ described the U.S. dollar’s (USD) role as the currency used for crude oil transactions on the world market. It traces back to the early 1970s when the United States and Saudi Arabia struck a deal shortly after the U.S. went off the gold standard – and the agreement has had far-reaching consequences for the global economy. The petrodollar...

New U.S. sanctions against Russia will shut down trading in dollars and euros on its leading financial marketplace, the Moscow Exchange, the bourse and the central bank said on Wednesday. "Due to the introduction of restrictive measures by the United States against the Moscow Exchange Group, exchange trading and settlements of deliverable instruments in U.S. dollars and euros are suspended," the central bank said. -snip- The bank rushed out a statement, despite a public holiday in Russia, to reassure people that their dollar and euro bank deposits were secure. "Companies and individuals can continue to buy and sell U.S. dollars...

The financial world is bracing for a significant upheaval following Saudi Arabia's decision not to renew its 50-year petro-dollar deal with the United States, which expired on Sunday, 9 June, 2024. The lapsed security agreement - signed by the United States and Saudi Arabia on 8 June 1974 - establishes two joint commissions, one on economic co-operation and the other on Saudi Arabia's military needs, and was said to have heralded an era of increasingly close co-operation between the two countries. American officials at the time expressed optimism that the deal would motivate Saudi Arabia to ramp up its oil...

Hello fellow FReepers, would love to pick your brain on a topic I've been thinking about. Are there any reasons why BRICS would NOT want to be the world reserve currency? Are there responsibilities and burdens that would become theirs, should they succeed in doing this? Seems to me that, since the U.S. dollar became the world reserve currency, it is the U.S. that has shouldered the brunt of every (or most) debt, war, international bailout, humanitarian aid, and so forth. If BRICS should succeed, wouldn't these responsibilities/liabilities then transfer to them? This is not a question of "Will or...

Did you know that central banks bought more gold last year than any year in the past 55 years—since 1967? Though most don’t realize it, 1967 was a significant year in financial history, mainly due to the events at the London Gold Pool. The London Gold Pool was an agreement among central banks of the United States and Western European countries to stabilize the price of gold. The goal was to maintain the price of gold at $35 per ounce by collectively buying or selling gold as needed. However, in 1967 the London Gold Pool collapsed due to a shortage...

According to Min News, fifty-six countries, including Israel and Japan, want to de-dollarize. Japan is dumping the US dollar as fast as it can. This is a direct result of the lockdowns and the sanctions. Both were highly-destructive failures. It is the beginning of the new world order that will possibly supersede the liberal world order within the next several years. No sane country wants to depend on a nation that will weaponize the system or the “demons in Davos.”

Trade between India and Malaysia is now able to be settled with Indian Rupees, the India Ministry of External Affairs (MEA) announced in a statement Saturday. This move strikes a blow to the hegemony US dollar. “This initiative by the Reserve Bank of India (RBI) is aimed at facilitating the growth of global trade and to support the interests of the global trading community in Indian Rupees (INR),” the statement from the MEA reads.

Without last week’s Beijing-brokered deal, China would have had to rely on maritime routes under the control of the powerful US Navy to facilitate the forthcoming explosion in bilateral real-sector trade, but now everything can be conducted much more securely via the Iranian-transiting CCAWAEC. Looking forward, there’s also a theoretical possibility of Chinese energy investments in Iran connecting the Gulf to Central Asia and thenceforth to the People’s Republic, thus fully securing its strategic interests. That’s still a far way’s off, if it even happens at all that is, but it nevertheless can’t be ruled out. Saudi Arabia’s desire to...

U.S.-led international sanctions on Russia have begun to erode the dollar's decades-old dominance of international oil trade as most deals with India - Russia's top outlet for seaborne crude - have been settled in other currencies....India's oil trade, in response to the turmoil of sanctions and the Ukraine war, provides the strongest evidence so far of a shift into other currencies that could prove lasting.The country is the world's number three importer of oil and Russia became its leading supplier after Europe shunned Moscow's supplies following its invasion of Ukraine begun in February last year.

Let’s start with three interconnected multipolar-driven facts.First: One of the key take aways from the World Economic Forum annual shindig in Davos, Switzerland is when Saudi Finance Minister Mohammed al-Jadaan, on a panel on “Saudi Arabia’s Transformation,” made it clear that Riyadh “will consider trading in currencies other than the US dollar.” So is the petroyuan finally at hand? Possibly, but Al-Jadaan wisely opted for careful hedging: “We enjoy a very strategic relationship with China and we enjoy that same strategic relationship with other nations including the US and we want to develop that with Europe and other countries.” Second:...

Saudi Arabia is opening its economic doors about trading in currencies other than the US dollar, Finance Minister Mohammed Al-Jadaan sounded off at the World Economic Forum in Davos, Switzerland. “There are no issues with discussing how we settle our trade arrangements, whether it is in the US dollar, whether it is the euro, whether it is the Saudi riyal,” Al-Jadaan said in an interview with Bloomberg. “I don’t think we are waving away or ruling out any discussion that will help improve the trade around the world.” (snip) The term petrodollar refers to the US dollar’s position as the...

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Apparently confirming the view of Saudi Crown Prince Mohammed bin Salman (MbS) that the U.S. is now regarded as just another one of its partners in a new global order that would see Beijing and its allies share the leadership position with Washington, Saudi Arabia last week reiterated its commitment to China as its “most reliable partner and supplier of crude oil,” along with broader assurances of its ongoing support in several other areas. That MbS seemingly now sees the U.S. as a partner just for its security considerations, with no meaningful quid pro quo on Saudi Arabia’s part, whilst...

Vietnam's Lê Thành, the self-proclaimed 'King of VGA,' is having some fun on Facebook(opens in new tab) (via I_Leak_VN(opens in new tab)). In photos and videos shared on the social media site, it looks like the store has started to use street trader tactics to grab passersby and sell them GPUs by the kilo. Lê Thành shared pictures of dozens of used GPUs stacked up on the curbside in a clear parody of a Vietnamese street food stall. There is also a video with the vendor patiently waving away flies with a net, awaiting passersby. Then, a scooter stops, and...

It's official! Russian Central Bank announces that the ruble is tied to gold! 5000 rubles per gram. The Central Bank of Russia has officially announced that the Russian ruble will be tied to gold as of March 28, 2022, The rate is 5,000 rubles per gram of gold ingots. There are 28 grams in each ounce. 28 grams for 5,000 rubles per gram is 140,000 rubles. Are you following me this far? The conversion rate of rubles into US dollar is 100 rubles, 90 pounds, for each US dollar. If the rubles are tied to gold at 5000 rubles per...