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re: India has bought oil from Russia in roubles at a discount
Posted on 3/18/22 at 11:49 pm to GumboPot
Posted on 3/18/22 at 11:49 pm to GumboPot
We are potentially headed for the reckoning. Inflation is completely out of control, yet to tamp it out the fed would have to raise rates to levels that will at best cause a massive recession. The worst case scenario is a us default as the interest expense on the debt would not be payable at a normal interest rate. The fed has been check mated somewhat.
0
Posted on 3/18/22 at 11:51 pm to OMLandshark
I wouldn’t go so far as to say the American era is over, but using something other than dollars will really jack inflation up if countries we have a trade deficit with start requiring purchases in other currencies.
So it’s one big arse nasty cloud on the horizon
So it’s one big arse nasty cloud on the horizon
Posted on 3/18/22 at 11:53 pm to OMLandshark
Biden thought he could shut down Russian energy exports. He was wrong, and now the dollar is weaker for it.
Posted on 3/19/22 at 12:01 am to Cosmo
quote:
Or maybe they just want cheap oil and dont care where it comes from?
Thats how it should be
You don’t know what you’re talking about. They wouldn’t do this lightly.
Posted on 3/19/22 at 12:02 am to OMLandshark
quote:
You don’t know what you’re talking about. They wouldn’t do this lightly.
WHile it may not be the final domino, it really shows that countries are willing to piss us off.
Posted on 3/19/22 at 12:03 am to RemouladeSawce
quote:
A developing nation buying some oil at a steep discount from a country that is in complete economic freefall is a sign that the American era is over?
I’m sorry, but it’s clear with the people who are smart and know what’s going on and the people who are stupid and don’t. Reading the sentence of my OP should make your heart drop rather than dismiss it if you knew what it actually meant.
Posted on 3/19/22 at 12:04 am to RemouladeSawce
quote:
They’re mostly shitholes desperate to survive. In the long run India isn’t bending the knee to Russia because they offered oil cheap. Russia is on a path to collapse.
Even China’s been way more distanced from Russia than expected. None of these countries give a shite about each other
Don’t be so delusional
No, you’re simply a fricking moron.
Posted on 3/19/22 at 12:04 am to OMLandshark
quote:
it means the American era is over and this is a catastrophe that India, a country that understands China well, is allying with its greatest ally and giving us the finger. This is some serious shite.
Come, now. Settle down. Have some tea, mate. Everything is going to be just fine.
This post was edited on 3/19/22 at 12:05 am
Posted on 3/19/22 at 12:06 am to aubie101
quote:
WHile it may not be the final domino, it really shows that countries are willing to piss us off.
Correct. I’m just looking at this from a Tywin Lannister level. If nukes weren’t on the table, I’d threaten India with war over this. Again, they know the true enemy that is China, so they’d immediately fall in line even with a threat.
This post was edited on 3/19/22 at 12:08 am
Posted on 3/19/22 at 12:09 am to SirWinston
quote:
Come, now. Settle down. Have some tea, mate. Everything is going to be just fine.
The biggest take from me is that countries are willing to step out and not follow our lead. Not just North Korea or Iran type countries bucking us, but real, developing, future powers (India 15-25 years). We will lose reserve status soon.
This post was edited on 3/19/22 at 12:10 am
Posted on 3/19/22 at 12:13 am to aubie101
quote:I think Biden's executive order on crypto and digitizing the dollar was reaction to that very thing.
We will lose reserve status soo
Posted on 3/19/22 at 2:01 am to OMLandshark
quote:
I’m just looking at this from a Tywin Lannister level. If nukes weren’t on the table, I’d threaten India with war over this.
HOLY frick! You are3 more emotional than a 12-year-old girl. You would threaten to go to war with India because they purchased oil from Russia with Rupees?
When you go this far over the top, it really makes you look stupid. In your mind, we should be demanding, under threat of violence, that the entire world adhere strictly to the petro-dollar........... I'm pretty sure others would object to that and it would actually force them to use other currencies just to show us they can. We have no right to demend this.
TheStreet.com
quote:
The U.S. hegemony has been under threat for years now. But the pieces are all falling in place slowly. It is a matter of time before it all rolls over like most empires. Saudi Arabia has dealt exclusively in dollars for their oil. They have been in talks for years to trade in yuan. But make no mistake, China is exceptionally smart being the world's largest buyer of all assets, they can choose the right time to place conditional demands in exchange for stability, trade deals, and trading relationships. The entire region and its leaders are all used to getting subsides and payments in dollars, which allows them to be able to spend it abroad. Will the yuan be seen as a "safe currency" for them to still be able to do so?
China is trying very hard to maintain stability in its yuan but it is far from a reserve currency, let alone a transparent one. If Saudi Arabia were to go through with this, it would mark a significant step away from historical allegiances and the U.S. dollar/SWIFT system would be done. Commodities as we know it, will cease to exist the way we have known for the past 50 years, with correlations breaking down as the dollar will cease to be its driving force. Perhaps a slow move to a basket of select currencies like euro, yen, yuan, and others would be a more suitable alternative to trade oil and commodities. But make no mistake, the wheels of change are already set in motion. Covid and Ukraine have just brought that time line closer to the dollar's ultimate demise.
Posted on 3/19/22 at 2:02 am to aubie101
quote:
We will lose reserve status soon.
This is why we have to protect the dollar. When people lose confidence in it we are cooked.
Posted on 3/19/22 at 3:15 am to OMLandshark
Joke is on them. They get cheap oil to fuel their economy, but we got those little yellow blue emoji's in our twitter feeds.
Take that suckas.
/s
Take that suckas.
/s
Posted on 3/19/22 at 3:21 am to OMLandshark
Good for them. They are smart enough to not pay high gas prices over Ukraine. Good decisions equate to good results.
Posted on 3/19/22 at 4:08 am to CDawson
quote:
Destroying the dollar is key and none have done it better than todays version of the Dims.
News Flash: Both political parties are just as guilty of this. The two largest bailouts in US history were both passed by ‘conservative’ Republican presidents.
Posted on 3/19/22 at 4:08 am to GumboPot
quote:
It’s not just India and Russia. It’s Brazil, China, South Africa, Iran and the Saudis.
What do all of these countries have in common?
They can't feed themselves. They import a lot of ther food.
This post was edited on 3/19/22 at 4:09 am
Posted on 3/19/22 at 7:18 am to tide06
quote:100% spot on. All those dollars owned by other countries will come flooding home and 8% inflation will seem like the good of days. Amazing that people can't understand this
That is undoubtably true, but if they are willing to partner with Russia and China to end the petro dollar we are looking at a choice between an economic collapse or world war 3 to restore our hegemony.
Posted on 3/19/22 at 7:25 am to RTRinTampa
quote:brazil feeds 10% of the world's population. They are a net exporter of food
They can't feed themselves. They import a lot of ther food.
Posted on 3/19/22 at 7:36 am to RemouladeSawce
quote:
A developing nation buying some oil at a steep discount from a country that is in complete economic freefall is a sign that the American era is over?
Clearly you aren’t seeing the big picture here. This has far reaching implications.
Some of you people don’t seem to have the slightest clue what it means when the US dollar is not used in these transactions. Let me know how effective all the banking sanctions the US has put in place will work in this deal. I will wait…
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