Petrodollar under Threat

[LAC]

[Pete Grey]

Last year Iran stopped using imports priced in dollars, Forbes say this new restriction appears to be an attempt to stop a slide on the rial.

The comments on youtube show that muslims are wetting themselves with delight at the thought of the collapse of the US, i did not think the US traded with Iran so who cares what they do.

The US economy is sound enough to take any petty action by a rogue state, business as normal.

[CharlesHarris]

[LAC]

I agree with the philosophy Charles but the interim could be a bit of a bumpy ride. Will have a look at the links over the next day or two.

Pete, it's not just Iran but Saudi is also proposing to sell in rouble yuan. In fact Iran has been trading oil with India in direct exchange for gold for a number of years now.

And also the proposed China Russia alternative gold exchange, trading real gold not paper derivatives.

[CharlesHarris]

The bumpy ride is necessary to wake up the voters and to get the environmentalist whackos voted out.

They want to ban internal combustion engines and have all electric cars, but there won't be enough solar panels and windmills to charge them, so they will be stuck with using coal-fired plants and nuclear...

Only solution is to reduce world population to its carrying capacity, another stated goal of the globalists, I think about 100 megatons dispersed around Africa and the middle east should do the job, the drifting fallout towards India and China would finish it within a billion surplus eaters or so.

[Mortblanc]

Do these people think that our present administration will sit and allow them to jack the price of oil up to whatever they wish? We do not have to purchase their oil, and most of the U.S. "import" of oil is actually like the inbox/outbox on the office desk. We take it in as crude, refine it to finished product and export it back to the world. We are not using all that crude internally.

Look at this with more than a short term 6 month memory and remember what is was that drove the $4 per gallon prices down to less than $2 here in the states two years ago. That $100+ per barrel price only survived because we had a communist as president.

There is no need for us to pay more for imported oil than we pay for home grown oil. If they do not watch out the U.S. will crank the fracking machines back up and put them back into bankruptcy.

Trump would gladly suspend all the useless environmental regulations that have been implemented as executive orders, without legislation, in the attempt to ruin the standard of living of western civilization by his predecessor.

[Straight Shooter]

THE BRICS are hitting nails in the petrodollar coffin ........the end is in sight.... just a matter of time .....like all previous empires ....they fail in the end ....history tells us that ....in ALL cases they ALL think they will last forever and they are invincible...... with that mindset ....they fade then disappear ...wondering what happened ...the USA is no different than any of their predecessors .

[CharlesHarris]

MB is exactly right. Cut off the supply of dollars going to the oil sheiks, then they will no longer be able to fund terrorism under the table. Soon all of their non-productive citizens who have been slurping at the petrodollar gravy train will have to get a real job once the oil money dries up, which will happen by the next generation. Just look at what happened to Venezuela and also to Cuba when world oil prices crashed. Neither Venezuela nor the Russians could support Cuba anymore, they were struggling to feed their own people. Now multiply that by a dozen times or so as the arabs discover they can't afford refined fuel or their BMWs and Mercedes and the common people who have been dependent on government handouts are unable to buy food... Once they start rioting in the streets you will see Yemen and Syria multiplied many times over as the sheiks put down rebellion amongst their own people.

I don't see NATO, the EU or NATO steeping in to help, nor the Russians or Iranians, although there will be a frenzy to pickup the pieces of anything that is left. In 100 years the UAE will be an empty shell in the desert.