calitom wrote:Rolluplostinspace wrote:calitom wrote:Rolluplostinspace wrote:calitom wrote:Ive read this entire thread...and my one comment is STFU Jack.
As big of a mess as the usa is--Its less of a mess than most other countries except The Netherlands and Norway.
If the usa is in its death throes then the rest of the world is already dead and gone.
You are clearly an American Tom.
Americans as a rule don't have a clue what the petrodollar is .... was.
Up till the 60's America was the biggest oil exporter on the planet .... hard to imagine now.
It was also the biggest exporter of goods.
Then it became the an importer of oil and all Americas gold was used up.
The whole world had been promised that every dollar was backed by gold so there was a global panic when the nations realised their paper was backed by nothing.
Nixon took the dollar off the gold standard and created the petrodollar agreement with the Suads.
The dollar was now backed by oil.
Other peoples oil.
Simple explanation.
I suggest you type into Google demise of the petrodollar or death of or just petrodollar see what you ca find.
It's over Tom.
The Anglo America rule of the globe is done.
Here comes trouble on a scale we can't imagine because the world has never been here before.
The death of the petrodollar is the biggest news there can possibly be.
we have more oil and gas than anyone jack. Do your homework.
Stop making a fool of yourself Tom it's not about oil.
"Up till the 60's America was the biggest oil exporter on the planet .... hard to imagine now.
It was also the biggest exporter of goods.
Then it became the an importer of oil and all Americas gold was used up.
The whole world had been promised that every dollar was backed by gold so there was a global panic when the nations realised their paper was backed by nothing.
Nixon took the dollar off the gold standard and created the petrodollar agreement with the Suads.
The dollar was now backed by oil.
Other peoples oil."
Jack--i think you are the fool here. Half your explanation was re: OIL.
Go buy your rubles and yuen. One country with the economy of Italy and the other with 1 billion work peasants.....
Tom ... oil replaced gold as the backer of the dollar when America was exposed as having no gold back in the late sixties.
That was the birth of the petrodollar.
It's not about a shortage or a glut of oil.
It's about the world no longer wanting Americas petrodollar system.
We want to buy oil we have to purchase dollars first.
So does every other country.
It's like a tax on the whole worlds output.
It's paying the tribute to Caesar.
Through this system America for forty years have had the worlds goods almost for free and all the other countries of the world hold your debt and you just keep printing dollars because we all have to have them.
Not any longer.
The imposing of sanctions on nation afyter nation is an act of war ... economic war.
The way around those sanctions is to not trade in dollars.
You've imposed that manyy sanctions in demanding other nations bow to your demands that you have broken your own system.
China and Russia and Iran were first out because of your economic warfare.
Well it's backfired.
Look Tom I'm tired ... go do some Googling or buy a book.
Stop listening to your media would be my first bit of advice but seriously.
Go Google the petrodollar before you make a bigger fool of yourself.