The Beginning of the End of PetroDollar??

 'The end of world dollar hegemony is coming and hardly anyone in government is taking notice or even understands what this means. Since the Bretton Woods Conference in 1944, the dollar has been the only currency accepted throughout the world for settlement of international trade accounts among nations.'

'As USA gold reserves reached critically low levels, President Richard Nixon took the USA off the gold exchange standard, as the system of central bank redemption was called, in the fall of 1971. It did NOT devalue the dollar to gold, which it could have done, and promise to stop dollar expansion. Instead, the USA simply ended dollar redemption for gold, allowing the USA to create as many fiat dollars as the world market would accept.

It turned out that the world market would accept a lot of US fiat dollars. A major reason was that Saudi Arabia, the world’s largest oil producer, agreed to demand payment in dollars for its oil, thus creating worldwide demand for dollars.'

'This “petrodollar” arrangement is now breaking down, due to the ever-accelerating debasement of the dollar. The cause of the debasement is the unholy alliance of the Federal Reserve, the US central bank, and the US government. The Federal Reserve creates, out of thin air, all the dollars that the government needs to maintain its massive and ever-increasing spending deficit. The monetization of these deficits has led to a loss of dollar purchasing power at an accelerating rate.'

'All this mayhem could only be funded by worldwide acceptance of the fiat dollar. But much of the world has had enough. There are several organizations that are cooperating to develop an alternative to the dollar for the settlement of international trade. The BRICS (Brazil, Russia, India, China and South Africa), the Shanghai Cooperation Organisation (SCO), and the Eurasian Economic Union have formed a working group to develop a commodity based medium of exchange to replace the dollar as the premier means for the settlement of international trade.'

This is where the world is headed, because the USA cannot force sovereign nations to accept the dollar, especially if there is another and better choice. The USA has not lived up to its responsibility to protect the purchasing power of the dollar via controlling its supply. Lord Acton’s warning is as important today as ever—i.e., “Power tends to corrupt, and absolute power corrupts absolutely.”

P.S. The new SCO currency will likely supplant the dollar as the world’s premier reserve currency primarily because it will be backed to a large extent by commodities and it will not be under the control of one sovereign country but a number of sovereign countries, all dedicated to its monetary health in ensuring the free flow of international trade and payments. It will be a loss for the dollar, of course, and for the USA, but frankly, the world will benefit overall.

Link to article: https://mises.org/wire/world-dollar-hegemony-ending-and-may-be-good-thing 

 

 Anonymous 

Evil Americans fabricating lies to start war with Iran

 US jets in 'show of force' to Iran – WaPo

The incident followed intelligence reports alleging that Tehran was planning to attack Saudi Arabia, the paper reports

The US has sent Persian Gulf-based warplanes towards Iran, in response to intelligence reports alleging that Tehran was planning an attack on Saudi Arabia, the Washington Post has reported.

On Tuesday, the Wall Street Journal reported that Riyadh had told Washington that Iranian missile and drone strikes on targets within the Saudi territory were “imminent.”

Upon receiving the information, the US scrambled its jets in the region and sent them towards Iranian airspace “as an armed show of force,” WaPo reported.

The above is quoted from RT. The American using Washington Post to spread the lie that they had received intelligence reports that Iran is going to strike Saudi Arabia, just like the WMD intelligence lie to invade Iraq.

Why is this latest lie laughable?

1. Saudi Arabia is leaning towards the BRICS countries and is applying to join BRICS like Iran.

2. BRICS have been working with Saudi Arabia and Iran to patch up their differences and both countries are talking quietly to lower tension between themselves.

3. Saudi Arabia has denied that there is such an attack from Iran.

4. Iran also has denied of such an attack.

The so called show of force is actually threatening Saudi Arabia, that the Americans are still in control of the region, also a reminder of what it is like to break away from the American camp... “the latest illustration of the strength and importance of a partnership” the Biden administration has with Saudi Arabia. The Americans are warning the Saudis to tow the lie and behave or else.

Other than spreading this hostile lie, the next thing could be a false flag incident, with the Americans launching an attack on Saudi soil and blaming it on Iran. QED. Another option is to conduct a preemptive strike against Iran in the pretext of protecting Saudi Arabia. And you will have a new war between Saudi and Iran. However, this time this is not going to work as the Saudis and Iranians are in close contact discussing how to react to the gun trotting Americans and anticipating what the Americans would do next.

The Saudis and Iranians are not going to fall into this silly American trap and would not go to war with each other. They know exactly the game plan of the evil Americans. Both would join BRICS and become friends. The Americans are trying to drive a wedge in between but would fail.

Comments in RT

Yagma_Fifty_Eight_And_Haif
Goes to show one thing, WallStreet fears an alliance between Saudi's and Iranians more than anything, because that is in both Iran, and Saudi's best national interest. The Jews want a holocaust in Iran, and Saudi land and will throw them under a bus at the flip of a coin.

Mickey007
The USA has gone stark raving mad, after Saudi Arabia ignored them and has broken off the US shackles. The only option left is to start a war and drag Saudi into this war, knowing it will wipe off trillions from Saudi. But IMO Saudi, and by that I mean MBS & Co are too smart to fall for this false flag. They know the US plan, they know how the US started the Iran-Iraq war that killed more than 2 millions and both nations went bankrupt.


chris hack
This claim is standard preparation by America for an attack on Iran who is failing to comply with the petrodollar system by selling oil through the Kish commodities market in currencies other than the petrodollar (Yuan, Rubles and other non aligned currencies) This is not acceptable to America who has (always) initiated a war to obtain Regime Change to a more amenable political structure. One which will conform with the American petrodollar requirements. Last time it was WMD's (supplied by Brittan, America and Germany to Iran) that permitted the western war machine to control the oil market. Perhaps this time it will be different as we have the past experiences?

Virgo49 said...Crying for the plight of our children while good jobs taken by foreigners

 

Hi Anon 9.41

Since independence we are on our own with many of us lesser educated and skilled than now our present lot of generation.

Especially most of our children with many diplomas and degrees from mostly full time Higher institutions of learning.

Also many in their working careers kept upgrading their line of jobs and professions took side courses learning and afresh to keep up with the demands of new changes and yet they are deemed to be NO talents.

We in our fore and our pioneer and meredka generations could build up Singapore on our own without all these so called fake imported talents.

Also build up past reserves that are been disbursed now for emergency uses.

Now out of the blue old and new generation Singaporeans are deemed to be NO talents?

Nonsense! Whilst nowadays the young Singaporeans are being drilled since aged three or four and thrown into kindergartens till Unis or in Polys. Minimum ten to fifteen years of continued full time education.

Why NO talents? Let me tell you the real reason why our own now are been thrown under the buses!

We are been punished as our PeeAyam now shown their real colour of their hidden dissatisfaction with us for wanting as they claimed the "best of both World" in trying to have more Opposition MPs and at the same time expect the Papies MPs to work hard for us.

They can in front of us smiled and sweet talked us but in their hearts and minds they are unhappy with our they presumed to be pragmatic ways of voting MORE Oppos which they are not happy without their one hundred percent members in Parliament.

To them they thought that they ought to be appreciated as they had worked so hard for us and we should NOT had voted the Opposition MPs into Parliament.

Read and see the hidden now revealed candour of the PM's just speeches.

That's why behind closed doors leaked cursings of Singaporeans are been heard.

Thus this is the Real reason why Singaporeans are been punished for importing all these fake talents to teach you all a painful lesson.

Yet they can tell you all dafts that they are watching all of us and first pai roti to Singaporeans.

Virgo49 

Ukraine - Nazi Ukrainians getting more ruthless

Ukrainian military fired US-made HIMARS missiles at the Kakhovskaya hydroelectric dam in Kherson Region on Sunday, damaging one of the floodgates, emergency services have told RIA Novosti.

Six projectiles targeted the structure at around 10am local time. Five were intercepted by Russian air defenses, but one made it through, a representative said.

“The Armed Forces of Ukraine aren’t giving up on their attempts to destroy the dam of the Kakhovskaya hydroelectric power station and create the circumstances for a humanitarian disaster,” the statement explained.

The local authorities later clarified that the missile had failed to cause critical damage.

In recent weeks, Moscow has been blaming Kiev for attempting numerous attacks on the Kakhovskaya hydroelectric dam, which stands on the Dnieper River, upstream from the city of Kherson.

Putin names priority for frontline regionREAD MORE Putin names priority for frontline region
The Russian authorities began relocating civilians from the city and areas on the right bank of the Dnieper last month. The caretaker governor of Kherson, Vladimir Saldo, explained that there was “an immediate danger of flooding in the territories due to the planned destruction of the Kakhovskaya hydroelectric dam” by Ukrainian forces.

On Thursday, Russian President Vladimir Putin said “those living in Kherson must be evacuated from the most dangerous zone of action. The civilian population must not suffer from shelling, any kind of offensive and counter-offensive, and other activities related to military operations.”

However, Ukraine has claimed that Russia had been planning to blow up the dam itself in a false-flag operation aimed at framing Kiev for the flooding. Those claims have been repeatedly denied by Moscow.

Kherson Region was officially declared part of Russia in early October, together with Zaporozhye Region and the People’s Republics of Donetsk and Lugansk, after people in those territories overwhelmingly supported the move in referendums.

In recent weeks, the Ukrainian military has repeatedly tried to advance on Kherson, but all of those attacks have been repelled.

READ MORE: Russian official warns of Ukrainian dam breach plot
On Sunday, Kirill Stremousov, the deputy head of the regional administration, said Kiev had been “deploying more and more APCs and tanks” near Kherson in what could be preparation for another offensive.

Anonymous 

Unemployment crime against our children - The pain of a father

My daughter with a Science Degree from NUS first batch A*Star Research Lab staff for ten years.

Now at a Day Care and Nursing Home as a Therapist.

My Son, Poly Diploma IT and also an Overseas Degree IT now working part time as a Furniture shop store assistant.

Sinkies are now so patheic working all these types of jobs to survive.

At Chennai Business Park and Central CBD business Districts you can see thousands of Southern Indians with business clothes and ties going for happy hours after taking over all the professions that are meant for our own Singaporeans.

Last time in the 60s to 90s we are the Ones with ties in the CBD.

Now been overran by the Locusts.

I had sound my two children as I had worked before in Matland and have known their styles and businesses there, it would be better if we relocate there and be welcome with their degrees and credentials that may be appreciated in value by the Malaysians.

Also, think Sinkies would performed better than their Malaysian cousins as our degrees are from full time Higher Education Institutions.

In Matland most obtained their degrees by part time or overseas correspondence courses.

Virgo