More importantly

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Firedome8
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More importantly

Post by Firedome8 » Thu Apr 11, 2019 5:59 pm


exhaustgases
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Re: More importantly

Post by exhaustgases » Thu Apr 11, 2019 6:44 pm

Looks like a trusted news site.

pdq67
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Re: More importantly

Post by pdq67 » Thu Apr 11, 2019 7:38 pm

And people think there are problems in the ME now, if this does happen, I hope that we won't bail any of them out when the SHTF in the region!

And it's bound to happen because they have been fighting each other since before CHRIST was a kid!

pdq67

rebelrouser
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Re: More importantly

Post by rebelrouser » Fri Apr 12, 2019 2:00 pm

Lot of people don't realize one of the reasons the US gets by with big deficits and low inflation is that the dollar is the currency many countries use for trading commodities on the world markets. It is in their best interests if our currency is stable, cut the dollar loose and use something else for world trading and see what happens. Lot of countries hold our debt, but when they get tired of having the US run the roost look out.

https://www.investopedia.com/articles/f ... rrency.asp

Firedome8
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Re: More importantly

Post by Firedome8 » Fri Apr 12, 2019 5:39 pm

rebelrouser wrote:
Fri Apr 12, 2019 2:00 pm
Lot of people don't realize one of the reasons the US gets by with big deficits and low inflation is that the dollar is the currency many countries use for trading commodities on the world markets. It is in their best interests if our currency is stable, cut the dollar loose and use something else for world trading and see what happens. Lot of countries hold our debt, but when they get tired of having the US run the roost look out.

https://www.investopedia.com/articles/f ... rrency.asp
The petro dollar is a big deal, ask Saddam.

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Re: More importantly

Post by pdq67 » Fri Apr 12, 2019 7:27 pm

And I will bet a $Dollar to a, "donut hole", this why Venezuela is being destroyed!

Any takers?

pdq67

Firedome8
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Re: More importantly

Post by Firedome8 » Fri Apr 12, 2019 7:38 pm

pdq67 wrote:
Fri Apr 12, 2019 7:27 pm
And I will bet a $Dollar to a, "donut hole", this why Venezuela is being destroyed!

Any takers?

pdq67
I am not takin that bet...

Firedome8
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Re: More importantly

Post by Firedome8 » Fri Apr 12, 2019 9:37 pm

If Riyadh does bid farewell to the US dollar in its oil trade, it would undermine the dollar's status as the world's main reserve currency, reduce Washington's clout in global trade and weaken its ability to enforce sanctions on other countries.

The US hegemony has long been built on the petrodollar, given that global oil production accounts for 2 to 3 percent of global GDP and most oil transactions in the world, including derivatives, are denominated in the US dollar. It is with the dollar hegemony that the US has the means to impose sanctions on other countries even if they have no direct links with it.

If the Saudi threat was to materialize, the world's financial and economic order could be completely rewritten, as once Saudi Arabia carried out the threat, other oil exporters who also suffer from the US bill will surely follow suit, which will put an end to the petrodollar.

MSM

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