The death of the dollar is eminent
— Ann Vandersteel (@annvandersteel) June 13, 2024
Moscow Stock exchange halts trading in US dollars.
Russian warships and nuclear subs are right off the coast of Florida and Harvard in Cuba. This makes the Cuban missile crisis look like a tea party.
Interesting on the timing of this, as itβ¦
WW3 IMMINENT.
https://twitter.com/annvandersteel/status/1801209638341271781
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I question if the end of the petro dollar is really a big deal. The problem remains in that no one is going to entrust all their money with a slav, a sexy Indian dude, a chink, or a macaquito. Not that the US isn't corrupt and couldn't confiscate your money, but it is still infinitely better and more trustworthy than any other. Chong's would immediately steal every cent then say it is your fault for making it possible. Who is going to put everything into these currencies?
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People are all like "the dollar has inflated value because you can buy oil with it" and act like it's got no other element that distinguishes it as a medium of exchange. As long as I need 134 thousand of them each year to prevent the IRS from arresting me, it will continue to have value.
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This is one of the worst posts I have EVER seen. Delete it.
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bitcoin![:marseywallst: :marseywallst:](https://i.rdrama.net/e/marseywallst.webp)
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Literally
they could return
to gold. The gold standard hasn't been gone that long and only disappeared because the US was able to schmoozy with Saudi
Arabia and start the petro-dollar in the 70s.
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Fiat currency is basically financial sorcery, going back to the gold standard would gimp the US economic so hard.
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The gold standard disappeared because the world economy outgrew the supply of gold you r-slur
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Neighbor there is no "Petro dollar".
The dollar is tied to the performance of the US economy, and trust in the government to be stable and an honest broker, nothing else. Oil fuels the modern world, thats why it is so important for everyone, but that doesnt make the dollar somehow specifically reliant on it. If the oil supply collapsed, every economy and thus every currency would be turned upside down. Chinks are dependent on oil just like the US, only unlike the US they dont even own their supply but are dependent on foreign sources. Russia is reliant on oil not as a "precursor resource" but as the only important product their miserable shithole actually "produces".
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b-word
gold has supply issue
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US can always threaten saudi arms deals if they consider switching which is the only thing that will save them after the oil runs out
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saudi
will make friends
with iran. no weapons
needed.
check mate uh..shahmaat
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They don't want to have 1 country
dominating everything.
For average burgers
that probably not a big deal since that will mean import will be more expensive so more shit will be build
in US
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