Total posts: 28,020
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@bmdrocks21
Nixon could have just let the dollar crash though and hold the brrr money machine accountable before it learned to print 30 trillion dollars.
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@ILikePie5
@YouFound_Lxam
He blocked you because he was tired of getting owned by a 15 year old.
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@FLRW
If you want to hear his unhinged rants against the New Deal, I can gleefully satisfy you.
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@FLRW
Biographer Terry Teachout characterized Mencken as “blinded partly by his hatred of Roosevelt.”
Mencken scholar Charles A. Fecher declared Mencken’s opinion of Roosevelt to be “maniacal — there is no other word to use.”
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@FLRW
Mencken also was a fierce enemy of FDR. I support any quote from you on this topic.
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@FLRW
a downright moron.
You mean back to back morons.
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Back in the ‘70s, in the wake of the oil crisis, President Nixon devised a plan. He offered to help Saudi Arabia defend itself in exchange for the kingdom to trade all of its oil production in US dollars.
As a result, anyone looking to buy oil from the Saudis had to do so by paying in USD. This was a strategic stroke of genius that has helped cement the dollar as the world’s premier reserve currency ever since.
And while this certainly isn’t the only reason nations hold onto and trade in USD to this day, it is one of the most important…
More recently, though, this pact that created the petrodollar has become strained. The Saudis are no longer as close to the US as they once were. Years of political and diplomatic headbutting has frayed the relationship, and as such the petrodollar is in danger.
In fact, a few days ago news broke that discussion between the Saudis and China is developing. And while this isn’t the first time the pair have tried to dethrone the dollar, it is telling, nonetheless.
This, dear reader, could be the catalyst for the demise of the petrodollar.
And in its place, we may instead see the rise of the petroyuan. At least, that’s certainly what China is hoping for…
As a result, anyone looking to buy oil from the Saudis had to do so by paying in USD. This was a strategic stroke of genius that has helped cement the dollar as the world’s premier reserve currency ever since.
And while this certainly isn’t the only reason nations hold onto and trade in USD to this day, it is one of the most important…
More recently, though, this pact that created the petrodollar has become strained. The Saudis are no longer as close to the US as they once were. Years of political and diplomatic headbutting has frayed the relationship, and as such the petrodollar is in danger.
In fact, a few days ago news broke that discussion between the Saudis and China is developing. And while this isn’t the first time the pair have tried to dethrone the dollar, it is telling, nonetheless.
This, dear reader, could be the catalyst for the demise of the petrodollar.
And in its place, we may instead see the rise of the petroyuan. At least, that’s certainly what China is hoping for…
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@bmdrocks21
Last week, former NY Fed staffer Zoltan Pozsar sparked a shockwave across Wall Street when in his latest research piece, he suggested that as a result of the Ukraine war, which has resulted in a "commodity collateral" crisis (and which is quickly transforming into an old-school liquidity crisis), China's PBOC will soon emerge as a dominant central bank and as the commodity-backed yuan ascends to a position of power, the world's reserve currency, the dollar, would lose much of its global clout leading to even higher inflation across the western world:
This crisis is not like anything we have seen since President Nixon took the U.S. dollar off gold in 1971 – the end of the era of commodity-based money. When this crisis (and war) is over, the U.S. dollar should be much weaker and, on the flipside, the renminbi much stronger, backed by a basket of commodities.
Russia has already won the oil war in Ukraine. It learned from the war in Iraq,
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It's worth noting under Biden that America is now fierce enemies with the 2 top global oil exporters. That was not the case at all in 2016.
Thanks Joe!
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@sadolite
TELL ME AGAIN HOW GAS PRICES ARE DICTATED BY SUPPLY AND DEMAND and not by govt and market manipulation
There was a sharp price hike at the start of government sanctions on Russian oil, but Putin has figured out how to get around the rules by selling directly to China.
USA can only manipulate the oil market so much before people find alternatives to the USA.
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Thanks Putin for exporting 8 million barrels of oil a day despite sanctions. You got rubles to pay for that? Petrodollars are no good here.
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Not useless, a jury verdict is also an opinion
6 years of "we got him this time"
Man, some people really love their used car salesmen.
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The only thing worse than not being elected is not being re-elected
Better to have won and lost than to never have won at all. Poor Hillary.
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You also couldn’t wait for the red wave.
I can wait till 2023 January. How about you?
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legislative recommendations...
So basically a bunch of useless opinions. Can't wait for the 2023 version.
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Kind of like Benghazi. Or White Water, or Hillary’s emails.
If I recall, Hillary was not rewarded with the title of president.
She was so bad that she lost to an illegitimate president.
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@ILikePie5
After 6 years, the phrase "we got him this time" should definitely be a patented trademark of the DNC.
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Cant wait for the 2023 Congressional Committee to convene in Jan 2023.
Just because the Democrats retired from power doesn't mean they can't be called to answer for inciting a mob to attack the capitol by waving people in and telling the police to stand back and watch..
It's also a crime for the FBI to incite a riot through entrapment. Ray Epps will definitely be called to answer for his part
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@RationalMadman
I find it odd that you think this is a trick question. It just goes to show how much pernicious doublethink is involved in today's politics.
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@RationalMadman
Do you think OJ is innocent just because a jury found him innocent?
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@YouFound_Lxam
There are a lot of people that feel OJ Simpson is actually a murderer. There's nothing that makes anyone racist just for believing that.
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@YouFound_Lxam
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Renounce the cult.
The Cult of Biden? Sure, I can refrain from excusing each and every fuckup. No sweat.
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@YouFound_Lxam
I don't really care about the rhetoric, but the policies are straight up crony bullshit while they pay the media to lie about the policies.
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Dayum, even stolen valor trustbaby gets owned by a schoolkid.
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Sweden, a country of just 10 million people had over 20,000 deaths from Covid.If we had that rate we would have lost 6.5 million people from Covid.
What? that's a .2% death rate for Sweden. Where did you learn math?
If we had that rate we would have lost 6.5 million people from Covid.
Try around 700,000 deaths total. Assuming America had the same amount of fatasses as Sweden does. (USA doesn't)
And also without the crippling deaths added from the lockdown and inflation.
Interestingly enough, heart related deaths have skyrocketed post vaccine mandate policy. It's too bad the scientists that could have warned us were censored by big Pharma lobbyists.
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@bmdrocks21
Fun fact: most European immigrants never received 40 acres OR a mule.
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@Sidewalker
Trump has the entire world laughing at his supporters, I'm embarrassed for you.
Really? I don't really care if you like the taste of Biden. Neither does most of the country.
Nope, it's not the same at all
But go on with your bad self thinking there is a huge difference between a 99 dollar trinket and 500k paintings.
Most people see shit when they smell it first. Sorry if Covid fucked up your nose bro.
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@RationalMadman
It's satire, thought you would have liked some humor on a Saturday :D
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@RationalMadman
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@TWS1405_2
Guy acts like a trustfund baby pretending to be a Marine.
I already caught him in a bunch of slipups.
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@Sidewalker
Nah, I just find it funny how much you guys keep drinking the Biden koolaid as if it is any different.
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@YouFound_Lxam
Trump got scores of Americans released from foreign prisons without trading arms dealers for them. Go look it up.
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@Sidewalker
Didn't Hunter Biden recently sell a painting for 500K? Trump is soo far behind in the con game.
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I bet if I blame Trump hard enough, we can excuse Biden for this fuckup too.
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@ILikePie5
but because I had been vaccinated and boosted
Looks like he told on himself. Overweight and out of shape.
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Today's Democrats actually don't like liberty or liberals.
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@coal
Outsiders are always dealt with harshly.
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@YouFound_Lxam
Just remember, ad-homs such as ageism are the First resort of those with nothing else to discuss.
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@Sidewalker
Anyone that uses Trump as an excuse for Biden probably forgot what Biden was like before 2016.
Between Trump the real estate tycoon and Biden, the son of a used car salesman, everyone is getting fucked equally and people think the car looks GREAT!
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@SirAnonymous
I suppose it's not as classy as the Clinton Foundation :D
Or the 400K per Obama speeches.
99 dollars seems like a steal!
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@zedvictor4
Exactly. There's nothing safe about fossil fuels if it requires millions of African kids to mine for it and millions to die in global wars during the lifespan of one billion dollar reactor that operates for 50 years without a single hiccup.
There's no profit in such a thing, so that is why we can't have nice things.
Consider it planned obsolescence for entire nations.
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@zedvictor4
The real problem with Nuclear energy is that it's not a source of energy worth fighting global scale wars over unlike oil and natural gas, and soon to be "green energy" funded with African slave mining...
And don't you want to Earth to be in a constant state of war over energy in the hands of the few power hungry elites? That's the "natural; course" you have been instructed to believe, certainly.
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Trump embraced quack science for medical advisors, medications and treatments
I agree. He should have fired Fauci from day one and took proven sound medical policy advice from Sweden instead.
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@zedvictor4
Nuclear reactors are ridiculously expensive bits of short term kit.Which very soon become a very expensive problem.
You do realize the amounts of money poured into Ukraine could have powered Europe many times over with clean, safe, modern Nuclear energy...right?
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@YouFound_Lxam
I would expect a 53-year-old man to have better reading skills.
Don't let him groom you.
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@K_Michael
The US has only built one nuclear reactor in the last 20 years.
Among many other absurd energy policy decisions.
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