Why the fuck is nobody talking about this? There's like one thread and it's from some guy who doesn't understand the subject with a bunch of other tards trying to badly explain it to him. It's like watching a monkey fucking a football.
Brief history on why we have the petrodollar >1944 Bretton Woods Accord establishes USD as world reserve currency >dollar is gold backed, therefore stable >vietnam war happens, united states incurs massive war debt >1973 united states backs israel in yom kippur war >1973 OPEC nations stick it to America with oil embargo >inflation & oil embargo force US to drop gold sandard >adopts system where the dollar and oil are tied together >from 1974 onward, all oil purchased from oil producing nations must be purchased in dollars >Carter administration happens, interest rates go up to 20% to pay down national debt >currency remains stable through whole process since it is tied to oil
Why the petrodollar is important >all nations must purchase oil from producing nations in dollars >this means in the most basic sense, all nations must purchase, or invest into the dollar in order to have oil >which means all nations are investing in the united states by purchasing our money in exchange for theirs, or gold, silver, platinum or goods >which means the united states is in debt to all of those countries >this has allowed US to incur massive amounts of debt without consequence since the rest of the world is forced to constantly invest into the country in order to have a functioning economy of their own >essentially the petrodollar is a giant jewish scheme to rob the world of it's wealth while the united states lives the high life
Enter Russia, China, India, Iran, and Saudi Arabia >some of this history goes back to about 2004-2014, and will be in no particular order, this is an abridged version >russia invades georgia in order to prevent it from joining NATO thus protecting its southern oil fields and pipelines >russia annexes crimea further securing it's pipeline infrastructure and port access to black sea >russia begins rebuilding it's pipeline infrastructure to bypass turkey, and caspian sea >europe shuts down nuclear and coal power plants, making it dependent upon russian oil and natural gas >europe cancels long term contracts on natural gas since short term buys are cheaper (by design) >UAE begins building pipeline directly to europe through turkey, but must go through syria >UAE pipeline is prevented by russia, and syrian army, ensuring russian stranglehold on europe >iran begins building ports and pipelines in the southern part of country past the strait of hormuz >china builds ports in myanmar with pipelines to bring oil directly to mainland china
Supplementary history >the united states has changed the way it measures inflation twice since the early 1980's >in 2011 the united states enacted a law that essentially stated foreign banks must give up the goods on american investors >switzerland of course, refused since their entire reputation and thus business model is based entirely on anonymity >since USD is reserve currency, US used their power through SWIFT to threaten swiss banks >several prosecutions occur against swiss banks for helping americans evade taxes >united states regularly uses their power as the global financial hegemon to impose itself upon other nations >this has created a consensus among most nations that the united states cannot be trusted with this power
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Aiden Garcia
Where we are today >russia invades ukraine >united states and EU sanction russia >many nations refuse >united states singles out india and threatens sanctions >india depends upon russia for fertilizer, and both nations go back a long time >india doesn't forget that russia stood by it in the past, thus stands by russia now >begins purchasing oil from russia in rupees >china has long been planning to buy oil from saudi arabia in yuan, will likely do so soon >russia announced today that all "unfriendly" nations must buy oil and natural gas from russia in rubles >will continue to honor contracts to deliver to european partners >refer to europe canceling long term contracts in favor of short term buys
What this means >europe will be forced to purchase oil & ng in rubles >india will buy in rupees >china will buy in yuan >other nations will inevitably follow >there will be no petrocurrency in the future because every other nation realizes the danger to themselves by tying their currency to oil >china will likely have a gold backed digital currency >russia will likely just float the ruble and let it be worth whatever it's worth like they have been doing >they see by the example of the united states that a petrocurrency, or any other similar scheme will set them up for future failure
Here's why >nations purchasing oil from oil producing nations in currencies OTHER than the dollar means that the era of the petrodollar is essentially over >the value of the dollar is in reality based on it's demand, as though it were any other product or resource >within first year the USD will likely begin experiencing 20%+ inflation under it's current metrics >which by the standards that they were measured previous to the 1980's means close to 40% inflation >demand for USD will drop exponentially as nations seek to exchange their dollars for whatever holdings they have in the US >hyper inflation will quickly set in >imagine a bank run, but the bank is an entire nation
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Owen Price
Good post, correct analysis
Mason Diaz
As a burger, how do I profit from this?
Daniel Taylor
You forgot the fact that owning Crimea gives Russia practically all of Ukraine's undersea oil reserves, and the fact that Ukraine was strangling Russia via rents on the Soyuz and Brotherhood pipelines (at America's pleasure), which is why Nord Stream was such a big deal and why the US gave such a shit about Ukraine, but this is all good shit. PM. Silverbugs are convinced we'll return to a silver standard, and I'd prefer that personally over gold because the US government is entitled to seize gold from Americans.
The US dollar was initially partially backed by gold, then oil (petrodollar), but the shift away from the petrodollar is complete. The value of the US dollar is in fact that it is the world reserve currency and more than 60% of the world trade is paid for by US dollars. Its simple easy, everyone worth anything uses it. It does not need to be, nor is the value based on oil sales. OPEC countries sell oil in various currencies or gold all the time. No big deal. The only thing the threatens the value of the dollar is the weaponization of the dollar and the US controlled international banking system. When the US pushes too far everyone will be forced to drop the dollar because it is too much of a risk that whatever you have will be confiscated because you did not agree with the latest bullshit from a senile US president.
Bentley Kelly
>>dollar is gold backed, therefore stable WRONG! It was (((gold backed))), only central banks could redeem the gold. The average person could not. Gold back means EVERYONE has the option to redeem gold for their currency NO QUESTIONS ASKED. The US dollar was truly backed by gold until 1933. >vietnam war happens, united states incurs massive war debt >1973 united states backs israel in yom kippur war >1973 OPEC nations stick it to America with oil embargo >inflation & oil embargo force US to drop gold standard WRONG! That didn't cause the US to drop the gold standard. They printed a lot of paper currency to fund the wars. France noticed this and the french central bank started redeeming the gold. US lost a lot of its gold and everyone saw this. They dropped the gold standard because if everyone started redeeming gold for their dollars, the US would have NO gold left and the US would go bankrupt.
Good summary. I already understood how bad this really is, but now I can give this to others without having to start from square 1. Gonna be fun.
Kayden Nelson
No government is giving up on banknotes, m80.
Xavier Perez
Buy land! Oh wait bill gates and Blackrock and vanguard are already doing that...
You will eat the bugs You will live in the pod You will watch your neighbors get darker and darker You will not fight back You will own nothing And you will be happy
Isaiah Campbell
NOTHING IS HAPPENING NOTHING EVER HAPPENS IT WILL NEBER HAPPLEBIN
Juan Rogers
This. You do not want a standard, you want physical coins. It all depends on the choice we'll have to do. If we refuse to use banknotes and only accept physical coins, they won't be able to do anything about it. Banks will keep going bankrupt because they'll keep printing paper currency that is not backed by actual metal.
>everyone started redeeming gold for their dollars, the US would have NO gold left and the US would go bankrupt. correct Cletus. It was primarily France that was redeeming the dollars for gold, others too, but France was really sticking it to the US. The US gold reserves decreased from about 20,000 tons to about 8,000 when Nixon "temporarily" stopped redemption.
Jacob Green
brainlet rule is simple, don't have money no talk money
How long until the Greenland gold rush and after that the Antarctic gold rush?
Thomas Hill
so, we replaced all of our high tech manufacturing and resource production with a fiat currency under the assumption that we would be able to militarily enforce a petrodollar without manufacturing and resource production?
Brayden Evans
>adopts system where the dollar and oil are tied together why?? from what I know the US offers protection and or threatens the countries if they dont. I feel like this is a very important topic and want to learn more, anybody known any good books on Petrodollar?
Dominic Martin
pretty much right. (((We))) control the money/financing industry and petrodollar. Any issues will be solved by alphabet gangs or military.
Hollywood/silicone valley also used to bring a lot of cash in. But other places in the world are catching up and doing it for cheaper.
Landon White
btc solves this basically, in reality usd is not backed by oil or trade, but just by violence, don't want to follow the rules? Usa invades you. Refer to gedaffi
Colton King
>If we refuse to use banknotes and only accept physical coins, they won't be able to do anything about it. 90% of people do whatever they're told to get a stable life. You're welcome to work on your debates for it in the astronomically small chance you get a say in how monetary policy is being reformed.
Dominic King
I still have no idea how the fuck bitcoin works or what it is.
Hunter Perez
>Why the fuck is nobody talking about this? i think cos most ppl understand 'petrodollar' & realize we're fucked "old whores don't do much giggling" -HST
they want more countries to share the cost of inflation instead on the dollar instead of just in America. If the world doesnt bear part of the cost of our stupid spending/printing money. Americans will be noticing extremely high inflation rates until we balance the trade deficit from the world. We've been lazy in importing only for too long.
Samuel Garcia
>any non-precious metal backed currency >stable life Choose one.
>Why the fuck is nobody talking about this? Because it's way too complicated for NPCs. Their level of understanding is marvel tier "muh russia/ukraine bad/good" shit.
Noah Green
We was in the right place at the right time Goyim.. haaretz.com/us-news/know-your-oligarch-a-guide-to-the-jewish-machers-in-the-russia-probe-1.6113189 ((we was in the right place at the right time goyim.. maybe you should have a Jewish leader goyim)) >Maybe if you were at the synagogue when Putin divided up the Soviet union you would have a yacht goyim en.wikipedia.org/wiki/Russian_oligarch Here are the most prominent oligarchs of the Putin era: Roman Abramovich: JEWISH Alexander Abramov: JEWISH Oleg Deripaska: JEWISH Mikhail Prokhorov: JEWISH Alisher Usmanov: Muslim, married to Jew German Khan: JEWISH Viktor Vekselberg: JEWISH Leonid Mikhelson: JEWISH Vagit Alekperov: Muslim Mikhail Fridman: JEWISH Dmitry Rybolovlev: Slavic Vladimir Potanin: Slavic Pyotr Aven: JEWISH Vitaly Malkin: JEWISH Total count: 10 Jews, 2 Muslims (1 married to a Jew), 2 ethnic Slavs Basically if you aren't Jewish you married a rich Jew and then became a billionaire
Mason Foster
Imagine actually believing your Russian government and not taking your money out of the bank s before things really get bad....
Rich oligarchs completely going to make average Russian a slave . When they eventually put their money back in Russian banks.
If you don't have crypto in Russia now you will be a literal north Korea esque serf .
Russian elite Jewish oligarchs have officially fucked Russia like Kim jong UN .
RUSSIA POOR FAGS BUY BITCOIN NOW SO YOU HAVE A WAY OUT NOW BEFORE THE BANK RUN AND ITS TOO LATE!!
BUMP OR RUSSIAN FAGS WONT BE ABLE TO AFFORD INTERNET IS THE EXCUSE!!!
Also your family will die of COVID if you don't shill this
MASSIVE GROCERY SHORTAGE!!! THERE ARE EMPTY SHELVES EVERYWHERE PEOPLE ARE LITERALLY STOCKING UP ANYTHING AVAILABLE TO TRADE SINCE THEIR CURRENCY IS INFLATING AND GETTING REKT BY SANCTIONS.. YOU CANT EVEN TRADE A RUBLE FOR ANYTHING BUT A YUAN AND CHINA IS REKKING THE CURRENCY TO BELOW THEIR PREFERRED NORTH KOREAN CLIENT.
I HEARD NORTH KOREA IS GOING TO BECOME A HUGE TOURIST DESTINATION FOR THE RUSSIAN ELITE AND ANYONE WITH ANY MONEY THAT WANTS TO DO ANYTHING OUTSIDE OF THEIR SHITHOLE COUNTRY !!!
BETTER STOCK UP ON THE ESSENTIALS WHILE THEY ARE THERE OR YOU WILL BE WIPING YOUR ASS WITH A BRUSH AND SHITTING IN THE WOODS BC YOU WONT HAVE A HOME WHEN THE BANK COMES FOR THEIR MONEY!!!
GET OUT BEFORE THINGS GET REALLY BAD RUSSIAN POOR FAGS... IF YOU ARENT CONSCRIPTED TO DIE FIGHTING UKRAINE YOU DONT WANT TO KNOW WHAT HAPPENS NEXT......
should I just call it quits, become a jew and marry a woman with big khazar milkers?
David Ortiz
Also worth mentioning, since I mentioned how the debt was paid down during the Carter administration, that in order to pay down the national debt now, the United States would essentially have to enact a similar rate of inflation as was done in the late 1970's and early 1980's of about 20%
This alone, due to the sheer amount of debt the United States has, including federal, state, municipal, and unfunded liabilities, would be impossible to pay at that rate of interest since the interest alone would be greater than what the annual GDP of the United States would be capable of handling. The government would need to declare bankruptcy, all public debts (social security, pensions, etc ect) null and void, while collecting all debts owed to it.
Long story short, the amount of debt the United States Government currently has puts it in a completely untenable position. This may not mean much on it's surface, but considering much of the debt is owed to foreign nations, they would be eager to extract that debt from the United States in any way possible. If the United States attempted to default on those debts, then war would be inevitable.
For reference, Russia referred to the seizure of nearly $300 billion dollars worth of Russian assets in American holdings as a form of default on it's debts owed to Russia. This is the first time in history such a move has been done. Not even the Federal Reserve or Bank of England did this to Nazi Germany WHILE THEIR NATIONS WERE CURRENTLY AT WAR WITH GERMANY.
Owen Thompson
Obv if the dollar goes silver the goverment will suddenly become allowed to seize silver from citizens as well. >No government is giving up on banknotes I wish
Nathan Cook
in a nutshell, 21 million coins, to get them you need to mine (using a computer to solve difficult math operations) the more you mine the harder the operations become, 18 million bitcoins have been mined, and is projected that the 21m bitcoin will be mined somewhere in 2100. No one controlls it because the computer power needed to do so is not in the hand of only one perso, government can't controll it, can't seize it, can't hack it. This means limited supply and impossible to print like you could do with paper or find new gold, ajd decentralized. then like every other currency it has value because some people thinks it has value so they exchanged fiat for it making it a real currency. (a lot of it's value is inflated by fake money and jevs have a lot of btc, but this is another story). 1 Btc=1 btc
Connor Wright
How much longer until the dollar becomes Monopoly money?
Ayden Foster
I don’t think that Americans realise the extent to which A) they owe a lot of money, biggest debt ever imagined. B) they had everything stolen from them.
Brief history on why we have the petrodollar >end WWII >US cynically leverages weakened position of UK by employing Jew tricks to ensure US hegemony >All while not having the slightest fucking clue what to do with said hegemony to improve the state of the world, outside of enriching their own fat asses. FTFY
Robert Ross
How long until people in general realize that it's just Monopoly money?
Nathaniel White
There are 5x less monopoly dollars printed than us dollars out there.
YES AND ALSO BUY SOME USA STOCK GOY IN MICRON TECHNOLOGIES GOY
Samuel Lopez
Emigrate to a place that will emerge relatively better economically than the US after the petrodollar collapse. But move there before the collapse do that you're selling dollars at a high not in decline
Camden Nelson
Everywhere got swindled. But especially Hamerica. You have to diversify your options because you have such a debt to pay you better hide anything real that you do have from your creditors. ie bury something. It’s 5:30 here i thought it was about 2am. Shit. Goodnight /pol.
