End of Dollar being moved along much quicker?
#32
Gets Weekends Off
Joined APC: Jun 2008
Posts: 206
Yes, but the Saudi's are really upset with what we are doing, we have really weaponized the dollar. Did you know we are now stealing dollar reserves from other countries to pay for the interest on our debt so we dont default?? So countries are seeing this and will want to get out, the country seeing this the most is Saudi Arabia. This is why they are having meetings with China and announcing that they are considering the Yuan for Oil. Have you heard of the BRICS countries? Brazil, Russia, China, India, South Africa. Just those countries alone will use the Yuan, then the US defaults and then a domino effect and everyone gets out of the dollar. This is the de-dollarization. When the US defaults, even our allies wont be left holding the bag. There is no way around this... The petro-dollar is what kept our standard of living so high compared to the world, now we lose all that power and the dollar will have hyper inflation and it will impoverish most of us. When we default, its over. Credit freezes up, no more lending, $30 milk, $500 to fill your gas tank, $1000 to fill your truck,probably more. its not gonna be pretty. We will be Argentina and just another country, no more good standard of living. Now is the time to consider a hedge on your money.. thats all
#35
Gets Weekends Off
Joined APC: Jan 2018
Posts: 1,787
Much like the run on Canadian banks after Trudeau’s seizure of money and freezing of accounts the rest of the world isn’t overly impressed with getting kicked out of the financial system on the whim of the politicians du jour. Add to that some global politicking we’ve been up to on and off again for a few decades and leaving the dollar might seem attractive.
I have no idea if the run on the Canadian banks reversed itself, but this may be a temporary reaction to such extreme measures being used for the first time on another nation.
#37
Banned
Joined APC: May 2021
Posts: 166
China wants the dollar to collapse and actively tried to help it collapse during the 2008 collapse.
Yes, they would lose 5 TRILLION dollars.
To them, it would be worth every penny.
#38
#40
Now for the first time, this 1973 Petro-dollar agreement may be broken as the Saudi's would accept Yuan. Other countries would follow and buy Yuan instead of dollars to buy that Oil from Saudi's and other OPEC countries. Now, what do you think would happen to the dollar as it would no longer be needed to purchase Oil??? Thats the Petro-dollar bud, dont get it confused with the FED. Its just a transaction to buy Oil.
I agree, the petro-dollar has been great for proliferation and strength of USD. I don't think this development will bring about the overnight collapse of USD. The price has to be standardized on something concrete, regardless of what the country is paying with.
Longer term effect is like trying to forecast the weather next year.
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