MrRodgers
Posts: 10542
Joined: 7/30/2005
Status: offline
|
quote:
ORIGINAL: Termyn8or
FR
Ron making snese ? Damn, must be the end of the world.
Iraq - switched to euro and al the sudden was a "threat"
Libya - about to introduce the African gold dinar and all the sudden was a "threat"
Iran has been weaning itself off the dollar as with all BRICS countries. In fact BRICS actually declared war on the petrobuck. When a bunch of sanctions were placed on Iran, they started selling oil to China for gold.
Glad to see the OP waking up and smelling the coffee. The US fights wars to prop up the petrobuck. Sanctions don't work, even embargoes, look at Cuba. Russia is laughing all the way to the bank as well, these sanctions depress the value of the ruble so they collect more of them per whatever unit of energy they sell. Unlike the US, they are in the rest of the world and market forces do prevail somewhat, which means as log as sell energy (gas and oil that is) the ruble value must rise. But they just collected more of them during a certain time. In the end, they have more rubles, which BTW they did not just print out of thin air or borrow. The politicians in the US do not understand how it is for a non-debt and deficit based economy, Russia can wait for their money. the state of California has more debt looming than that entire country.
Of course the US has natural resources but about ten people share the money from that and fuck the rest of us.
Actually Trump might be the best manager of the economy. You might take those liberal notions and scoff at tariffs, but other countries do it to us, I have personal experience in that. But in that he knows hiw way around the bankruptcy court is a good thing, because this country is so close to it. And he didn't do it, it hasn't even been two weeks.
If the scale was adjusted, the US could not survive the sanctions it has laid on other countries. Again and again they view the world from an Amerocentral stance, thinking nobody else has a brain or can play the game. Talk about how much food we export ? Go right ahead, it is mostly wheat. Try to live on wheat. Actually they feed it to the hogs and sell us back pork, that is value added and a net profit, something that US politicians don't seem to grasp. Note they probably keep the grain fed cattle for domestic consumption because it is more healthy.
At least Trump understands what a profit is. He might have trouble realizing it at times. Big head on his shoulders thinking he can buy this doomed company (probably makes buggy whips) and with his superior management skills (umm...) save the place from its inevitable demise, but he isn't quite as bad as Romney the corporate junkman who walks in literally counting the desks and filing cabinets.
Anyway, think of the USD as monopoly money, and fewer and fewer people are playing monopoly. Plus the US cheats via borrowing excessively, wanton printing of unbacked dollars and quantitative easing. They all know it and sooner or later Moody's will speak again. Sooner or later that will bite us in the ass. I hope you guys are happy that you are covered in case you need a hysterectomy. This stupid tripe about healthcare when they have to borrow money to pay the fucking electric bill at the whitehouse. Yeah right.
Enough for now. Too much thinking about the mismanagement this country has survived.
T^T
Once again, in some aspects you are on the right track and the status quo is disheartening but much of what you claim to just fear...maybe of just the unknown but...is not justified.
See post 14 on the subject of the OP and Euro Dollar positioning vis-a-vis...oil. Next.....
The concern for Qaddafi's Gold Dinar was that...it was gold, NOT the same as simply another currency. BIG difference. SO no, the US does not fight wars to protect the so-called 'petrodollar' and in fact there is no such thing as a petrodollar. There are dollars and there are doughnuts.
Yes, Russia is 'earning' more rubles per bbl of oil due to its low value now standing at .017 (less then 2 cents) and so what, they do need them very badly.
Russian GDP is $1.33 trillion and debt $518 billion for a debt/GDP ratios of a little under 50%
Caif. GDP is $2.48 trillion and a debt of $770 billion, so a little over 50% running a current surplus of $6-$8 billion per year
So any comparison is of dubious relevance.
QE and the so-called 'printing of money' has a useless correlation. QE is simply the fed buying up old non-performing debt in exchange for moving the same amount of $$ over to the plus side of the banks books and counting that as additional reserve capital.
The US for the umteenth time, is...NOT printing money. See Argentina...who is actually printing up new currency.
It would be unconstitutional for the US to renege on its federal debt 1/2 of which is owed to other parts of the US federal and local govts. 16% of total US debt is owed to Soc. Sec and only because congress squandered that money.
Trump's ability to understand a profit is directly proportional to his ability to continue to refinance his massive debt ($2 billion) without which, we will see further bankruptcies of his properties. One loan is at I understand...16% which might be several with Deutsch bank that he owes $364 million and in a direct conflict of interest as 'his' DOJ is waiting on a $14 billion fine. The bank required that debt to be shifted to the private lending side of the books...hence a very high rate.
In the campaign, Trump made many financial promises that he simply will not be able to keep and particularly if he cuts ANY federal taxes at all. So if Moody's or Standard & Poor does act again, it will be because our great 'small govt.' fiscally responsible' [sic] repubs and Trump borrow trillion$ more.
The greed, (price gouging) and corruption in our health care system is fast becoming not only the least cost-effective method for delivery but also...the path to bankrupting an ever increasing number of people and just may slow the US economy soon enough to cause a depression..
About the US$. Because 80% of world finance (trade) is in US$'s, the US$ is hardly 'monopoly' money and still remains the world's reserve currency and is lent and borrowed still, at or near historically low interest rates. Time to get off your soapbox about the US dollar...for now and the immediate future.
_____________________________
You can be a murderous tyrant and the world will remember you fondly but fuck one horse and you will be a horse fucker for all eternity. Catherine the Great
Under capitalism, man exploits man. Under communism, it's just the opposite.
J K Galbraith
|
The importance of Saudi Arabia to maintaining the value... - 
Profile
New Messages
No New Messages
Hot Topic w/ New Messages
Hot Topic w/o New Messages
Locked w/ New Messages
Locked w/o New Messages
Post New Thread