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Started By
Message
The Colder War and the end of the Petrodollar
Posted on 8/26/14 at 11:51 pm
Posted on 8/26/14 at 11:51 pm
I know this article goes of into investments and things important to people who read Forbes magazine, but it touches on important geopolitical topics as well.
Forbes
Forbes
quote:
The Chinese and Russians are working together against the Americans, and there are many countries that would be happy to join them in dethroning the U.S. dollar as the world’s reserve currency. This historic gas deal between Russia and China is very bad news for the petrodollar.
quote:
You will see Russia announce a major nuclear deal with Iran, where the Russians will build, finance, and supply the uranium for many nuclear reactors. The Russians will do the same for China, and then Syria.
quote:
The more the tension is building in Ukraine (and it’s going to get worse), the more money we’re going to make from the Colder War. There’s nothing you can do about the current geopolitical situation, but you can position yourself and your family to benefit financially from the European Energy Renaissance.
2
Posted on 8/27/14 at 12:47 am to Revelator
This deal is being overhyped by those who misunderstand it and how the petrodollar works. The oil was still priced in dollars they exchanged rubles and yuan. This is the same as always just no exchange to dollars. It's kind of like a bitcoin transaction, if you are not pricing in that currency what's the point.
Posted on 8/27/14 at 1:00 am to cave canem
So, as long as the name "dollar" is attached to it, it won't matter if the USD is actually used in the transaction?
No snark intended, just trying to understand how a currency can keep value if it's not actually being used in transactions.
No snark intended, just trying to understand how a currency can keep value if it's not actually being used in transactions.
Posted on 8/27/14 at 1:30 am to cave canem
I think you're wrong or misguided.
The dollar is not backed by a production based economy, but rather a consumer based one.
The dollar, without circulation, loses it's power.
This has been in talks for at least five years, but who knows if it will ever occur on a large enough scale to be detrimental.
One thing is for sure, however, and that is before the death of the dollar, there will be a mighty bloody war. Power doesn't dwindle without a fight. Ask the ghosts of the confederacy.
The dollar is not backed by a production based economy, but rather a consumer based one.
The dollar, without circulation, loses it's power.
This has been in talks for at least five years, but who knows if it will ever occur on a large enough scale to be detrimental.
One thing is for sure, however, and that is before the death of the dollar, there will be a mighty bloody war. Power doesn't dwindle without a fight. Ask the ghosts of the confederacy.
Posted on 8/27/14 at 4:40 am to CherryGarciaMan
This was a publicity stunt and signals the end of nothing. As the product was priced in dollars originally and exchange rates dollar based this was nothing more than a dollar based barter. Let me know when China starts hoarding rubles or Russia yuan and you may be on to somthing, untill then this is all just noise. By the way foreign governments holding dollars is much more important than circulation, this is why the British pound remains relevant. China is a large holder of dollar securities overseas and will suffer greatly in a devaluation and will fight it harder than the USA.
Posted on 8/27/14 at 5:11 am to Revelator
I have always had a hard time understanding why we continue to give foreign aid to our enemies. And why even though Saudi Arabia is a major sponsor of terrorism we give them a free pass. There has to be something beyond the surface to explain these things.
Posted on 8/27/14 at 6:13 am to CherryGarciaMan
quote:A potentially fluctuating basis though.
The dollar is not backed by a production based economy, but rather a consumer based one.
Unless you're indirectly referring to debt, what is the perceived relevance?
quote:Considering what "death of the dollar" giving way to a Chinese-Russian conglomerate actually would mean, the US and Europeans would have already been reduced to Second World economic equivalency. The war you're referencing would be in opposition to transition of those economic realities to de facto 2ndW status. Problem being, if hypothetically various 1st and 2nd world-type economies were to flip, the comparative western war production model wouldn't likely be worth much.
before the death of the dollar, there will be a mighty bloody war. Power doesn't dwindle without a fight
Within the next generation or two, any theoretical threat would come not from Russia-China-Iran, but rather from a more sound Euro (not happening) or a wider ranging global Euro-style currency.
Posted on 8/27/14 at 7:25 am to NC_Tigah
I wouldn't bet against the good ole USA
Posted on 8/27/14 at 7:36 am to LSUTigersVCURams
quote:
I wouldn't bet against the good ole USA
Well, I'd hedge my bets while the USA dumps resources into inefficient energy sources like wind, solar, and ethanol while the adversaries are all in on gas and nuclear energy.
Posted on 8/27/14 at 8:02 am to NC_Tigah
quote:
The dollar is not backed by a production based economy, but rather a consumer based one
True statement. But the petro dollar is global and absolutely based on production.
Posted on 8/27/14 at 8:19 am to Zephyrius
quote:
I'd hedge my bets while the USA dumps resources into inefficient energy sources like wind, solar, and ethanol
Are you not paying attention to what is happening in Texas and La at this time? Something like $150 billion in new oil and gas along with chemical industrial investments in the next year or so.
Companies from other parts of the world are moving their plants here because of our cheap energy resources.
Posted on 8/27/14 at 8:22 am to Zephyrius
Also who do you think is building the current reactors in china?
US companies are building numerous reactors there right now and with the Russian track record on reactors I do not think anyone that can choose someone else would choose them.
US companies are building numerous reactors there right now and with the Russian track record on reactors I do not think anyone that can choose someone else would choose them.
Posted on 8/27/14 at 11:05 am to notiger1997
quote:
Are you not paying attention to what is happening in Texas and La at this time? Something like $150 billion in new oil and gas along with chemical industrial investments in the next year or so.
Companies from other parts of the world are moving their plants here because of our cheap energy resources.
Apparently my point went over your head...
Look how environmentalists/ govt regulation are handcuffing viable energies and the growth of anti fracking movement.
Imagine all of the hundreds of billions spent in solar and wind energy if those resources were put in nuclear energy. We could be exporting oil and natural gas to Europe and less reliance on unstable regions and governments with a viable and growing nuclear energy grid.
Imagine the resources small business would have paying less for energy to grow and put those resources to development of new ideas and innovation. Economic growth would be incredible.
Imagine how much less food costs would be without govt ethenol subsidies and mandates and families using that money for buying power and investment savings.
Now because of our lack of energy independence we have to rely on a burning middle east and power hungry crony governments to play nice(and thus our involvement when they don't) on the world stage for a stable world/ american economy.
Posted on 8/27/14 at 11:44 am to Revelator
quote:I have tried for 10 years to explain it, but you guys on this board just won't listen.
I have always had a hard time understanding why we continue to give foreign aid to our enemies. And why even though Saudi Arabia is a major sponsor of terrorism we give them a free pass. There has to be something beyond the surface to explain these things.
Posted on 8/27/14 at 4:02 pm to TX Tiger
quote:
I have tried for 10 years to explain it, but you guys on this board just won't listen.
I know of that explanation. I also know of multiple others that are equally as convincing and offered by sources who believe they have all the truth as well. Who is to say that the story that you are buying is accurate and not misinformation
This post was edited on 8/27/14 at 4:03 pm
Posted on 8/27/14 at 7:54 pm to Revelator
quote:I'm not buying any story, because I know that those who control the dissemination of information have an agenda.
Who is to say that the story that you are buying is accurate and not misinformation
quote:You give perfect examples of how we are led to believe by agenda rather than truth.
I have always had a hard time understanding why we continue to give foreign aid to our enemies. And why even though Saudi Arabia is a major sponsor of terrorism we give them a free pass. There has to be something beyond the surface to explain these things.
Let me put it to you this way, if I were robbing you blind do you think I'd want you to know about it?
Posted on 8/27/14 at 8:55 pm to TX Tiger
quote:
I'm not buying any story, because I know that those who control the dissemination of information have an agenda.
quote:
You give perfect examples of how we are led to believe by agenda rather than truth.
I picture you as an "it rubs the lotion on it's skin or else it gets the hose again" type people.
Posted on 8/27/14 at 9:10 pm to MSCoastTigerGirl
I just gotta say, that's an extremely compelling avatar you have there.
And, before you ask, yes: LINK
And, before you ask, yes: LINK
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