Russia is selling more oil today than before the war in Ukraine started. On June 29, 2022, the exchange range for the ruble to the USD was 50.6 to 1. One week later, the USD is worth 25% more than the ruble even though Russia is generating huge profits and the US is generating huge debt.
Gold is dropping like a rock. At first gold was due to the strengthening of the USD. Now it is a combination of the increased value of the USD and selling.
Is selling paper gold really an indication of the price of physical gold? Did I miss something that would justify the increasing value of the USD? Or is this the time that was predicted by DHS Insider of what would happen just before everything fell apart?
If Saudi Arabia joins with BRICS+, that is the end of the petrodollar and any perceived value it has based on “the full faith and trust in the government that issued it“.
David DeGerolamo
Once the dollar becomes just another currency, we will see the breakup of this nation.
far more serious that that, as the dollar falls you know other countries will start to demand payment in full. Right now Japan is slightly weakened, but they are our largest debt holder, and we owe a shitpile of dollars to a lot of folks.
Then come the breakup, I know I will not be a debt slave.
It is the “crackup boom” or blow off as predicted by Von Mises.
https://www.investopedia.com/terms/c/crackup-boom.asp
Oh yeah forgot to say…..”Full faith” rrrriiiiggghhhttt!
I posted the same thing a few days ago. This is huge. The petro dollar and the reserve currency status of the US buck are the only things supporting the dollar. The dollar will collapse almost overnight. Our standard of living will drop to third world status. Maybe worse. Biden is going to Saudi Arabia. If he can’t stop them from joining the BRICS, we’re toast. Or watch for a coup in Saudi Arabia.
Joe gets it!!!! (No relation, honest).
The Saudi trip is to dangle F35s in front of them to not join BRICS. And WATCH MBS tell him to piss up a rope and buy Migs. That WOULD have huge implications! See what happened with Ergodan? Funny how he stopped objecting to Finland/Norway joining NATO just 24 hours before we announced we would sell him our F16s. Funny coinky-dink. Definitely wasn’t worked out in advance.
There is a solution that doesn’t include Digital Means. This bill was proposed by JFK which also forced the hand of the Federal Reserve to dispose of him. This bill remains open to this very day: Executive Order 11110: The John F. Kennedy Bill = FREEDOM From The Private Federal Reserve System! Executive Order 11110 (a presidential decree inacted June, 4th 1963) that strips the Federal Reserve of it’s authority to charge interest on money loaned to the US government (money that is created out of thin air). This order has never been repealed and could be enacted immediately. This is some powerful information and is quite relevant today.
I don’t know about anyone else but my “trust and faith in the government” went down the drain a long time ago. Russia and China have been setting up the collapse of the petro-dollars since, I don’t know when, as I remember seeing it discussed on the International Chinese tv station back when I watched tv. That has to be 2010 or so. Everyone in economics understood the implication of what they were doing but seemed to think it was a joke. Now that the Russian-Chinese planning is coming to fruition, there seems to be speculation of real impact. JR Nyquist has been warning for years that Russia and China are in it together for the long-haul destruction of the US. After reading many of Nyquist’s sources I not only agree but also understand the American Drug Cartel which flourishes even in rural America. Maybe that is the answer, we back the dollar with home grown weed as drugs are the second or third money market. But wait, the Chinese sent Laotians and Chinese communists to buy up farmland for grow houses last year. They paid cash and over market value if necessary. Maybe we could back the dollar with meth…or fentanyl
Lol, nope the fentanyl all comes from China, too. We would have to import it!
Yessir, the macro-economic forces being put in motion are greater than the social forces. Its a lot to cover, but broadly speaking, the implosion of the petrodollar was absolutely necessary to crash the world/west/us economy, to foster in all sorts of changes (great reset, etc.) With the USD no longer the defacto reserve currency (its not, stick fork, done), you will begin to see a lot more fluctuation in valuations, etc. Giving up the petro dollar when Russia invaded Ukraine was the single dumbest thing ever done to our country that I can think of… unless its repercussions are deliberate/desireable
Investment-wise, BRICS, China, Russia. PHYSICAL gold and silver, in your hands, not a 3rd party. What you are seeing on Wall street is not real. Show me an ounce of silver for 19 bucks, I’ll buy every round you can bring me. But you can’t. Ditto for gold at 1800. Cannot buy physical metal and take delivery at that price. What you are seeing is the paper market influence the spot price, as traders and brokers have been proven AND CONVICTED of doing for decades. Wall st manipulations, the house of cards is wobbling and teetering and about to come crashing down.
To FJB/XaoBuyDem/QuidProJoe:
As the Russian submarine Executive Officer said the the Russian sub commander in the movie “The Hunt For Red October” :
“You arrogant asshole, now you’ve killed us !”