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Old November 12, 2017, 17:38   #1
Whydah
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Worth a 'head's up'

The Petrodollar has had a good run now for 40 or so years. It was quite a coup when first negotiated back in the early 70's and put the US in the global economic driver's seat ever since. But now there's a new sheriff in town in the KSA that is taking a different approach to sustaining the survival of the Saud clan and it likely will spell a lot of trouble for the Petrodollar, aka, all of us here now that it appears the "new guy" Salman is making deals with both China and Russia.

http://www.zerohedge.com/news/2017-1...ying-attention
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Old November 12, 2017, 20:02   #2
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^

Yep.


This means war. It was always coming.
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Old November 12, 2017, 20:36   #3
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Just opinion but what really changed the world was the USA having enough oil to not need Saudi oil. Petro dollar was important when we had to buy oil but we can export NG and fuel now so they will pay in what ever dollar we demand.

Soon as we became self reliant the price of oil dropped enough to fug every oil producer in the world. If we don't buy their oil it's open market and the cartel goes to hell.
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Old November 12, 2017, 20:38   #4
Wil-C
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Quote:
Originally Posted by Whydah View Post
The Petrodollar has had a good run now for 40 or so years. It was quite a coup when first negotiated back in the early 70's and put the US in the global economic driver's seat ever since. But now there's a new sheriff in town in the KSA that is taking a different approach to sustaining the survival of the Saud clan and it likely will spell a lot of trouble for the Petrodollar, aka, all of us here now that it appears the "new guy" Salman is making deals with both China and Russia.

http://www.zerohedge.com/news/2017-1...ying-attention
two things jump out from that article.

1. china working towards world reserve currency status.

2. china getting the saudis to agree to abandon thier current petrodollar arrangement with the US when it's time for china to institute thier status as world reserve currency.

nuclear war with the US government deep state launching a first strike at just about everyone involved with this about 15 minutes later.
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Old November 13, 2017, 21:47   #5
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Originally Posted by Bawana jim View Post
Just opinion but what really changed the world was the USA having enough oil to not need Saudi oil. Petro dollar was important when we had to buy oil but we can export NG and fuel now so they will pay in what ever dollar we demand.

Soon as we became self reliant the price of oil dropped enough to fug every oil producer in the world. If we don't buy their oil it's open market and the cartel goes to hell.
Jim, I think you misunderstand the nature of the Petrodollar. We are dependent on everyone buying oil in dollars, it has nothing to do with our production/importation. The fact that OPEC agreed to sell oil in dollars in 72 created an instant demand for dollar bills. When dollars are no longer needed to buy oil, they will repatriate and likely create hyperinflation here at home. We don't produce enough to cover our consumption and manipulate the world market.
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Old November 13, 2017, 21:47   #6
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...

nuclear war with the US government deep state launching a first strike at just about everyone involved with this about 15 minutes later.
Don't worry, Trump has the football.
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Old November 14, 2017, 15:45   #7
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Don't worry, Trump has the football.
given its Trump holding the 'football', no I am not worried about it. I don't doubt he knows the score on that & some of what he's doing now points to that.

That scenario is a ways off yet, the chicoms & the others who're involved with setting that up are not militarily ready for such a move. When they figure they're ready, then it'll happen.

it'll be a repeat of dec 7, 1941, done via different means. The chicoms I suspect learned the lesson from that, they won't make the same mistakes.
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Old November 14, 2017, 17:05   #8
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Gaddaffi's last words were, "There killing me over the petrodollar!"
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Old November 14, 2017, 21:31   #9
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given its Trump holding the 'football', no I am not worried about it. I don't doubt he knows the score on that & some of what he's doing now points to that.

That scenario is a ways off yet, the chicoms & the others who're involved with setting that up are not militarily ready for such a move. When they figure they're ready, then it'll happen.

it'll be a repeat of dec 7, 1941, done via different means. The chicoms I suspect learned the lesson from that, they won't make the same mistakes.
Yes, it will be a financial nuke... dump their dollar holdings and take the hit so they can introduce the renminbi as the new reserve currency.

I'm glad you still have faith in Trump, the fact that he's following the neo-con playbook on NK and Iran indicates otherwise to me. We'll see who's right in the end.
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Old November 14, 2017, 22:58   #10
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right in the end.
I suspect that is where us common folk will feel it.
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Old November 15, 2017, 19:20   #11
Wil-C
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Originally Posted by rowjimmy View Post
Yes, it will be a financial nuke... dump their dollar holdings and take the hit so they can introduce the renminbi as the new reserve currency.

I'm glad you still have faith in Trump, the fact that he's following the neo-con playbook on NK and Iran indicates otherwise to me. We'll see who's right in the end.
Following the neocon playbook re: NK in what sense? Trying to start a war?
I don't agree thats whats happening, were that the case he'd act as bush ll & his old man did. He'd just go ahead and do it as bush ll and his old man did.
The same with Iran, just invade and to hell with congressional declarations of war.

I'm not fully certain what Trumps end game is as of yet, I suspect he is looking down the line towards what we're talking about, the dollar and it's reserve status and how that might play out. That is only a suspicion on my part as there's no immediate indication on his part but I suspect some of this is in the back of his mind.

As to which would happen first, financial dump or pearl harbour type strike then a dollar dump. I suspect the dollar dump and then if/when bedlam-on-the-potomac threatens war over it, then comes the preemptive strike. It'd give the chicoms political cover as they could claim they acted in self-defense.
NK is developing EMP weapons on a scale which is mind-boggling, the thread in survival preparedness has an article on them.
That is why I suspect Trump is looking down the line on some things, those EMP's have to be dealt with.

Also when the little fat nutcase threatened the US with a strike, the chicoms basically told him, 'you go first and you're on your own.."
The chicoms don't want the little fat nutcase to launch an EMP until it's time to do so. Do that now and thier plans get screwed up royally.
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