Petrodollar

[NDShark]

https://www.marketwatch.com/story/r...stems-demise-are-fake-news-heres-why-4e712804

 

[ndfanatic78]

I have been hearing for a decade+ about de-dollarization, the death of the "petrodollar", etc. Heck, the OP of this thread is 2014.

Here is the truth:


Every single entity that has tried to go against the grain has categorically failed. Russia is crashing. Chinese banks that dabbled in "de-dollarization" came to regret it. BRICS is fake. I could go on and on.

I don’t know man it was 90% in 2014 and it’s now around 88% that’s a scary decline right there. 🤣

 

[Blazers46]

https://www.marketwatch.com/story/r...stems-demise-are-fake-news-heres-why-4e712804

Damn it Trump!!

 

[BobbyMac]

I was passively seeing all the Twitter action on it when I ran across this thread. Feel better now.

 

[BobbyMac]

Saudi royal family.

There's a reason the US tries to keep oil flowing freely and cheaply out of the Middle East along with Venezuela and even Russia. It satisfies the world's demand, keeping international economies fed on properly priced crude while we try to remain relatively self reliant while keeping our huge future reserves largely untapped. If the world depended on out oil to be part of the international stock, the prices would be much higher as our oil is expensive to get out of the ground. But in times of war or large scale international economic downturn, the cost of our oil for us doesn't matter. To sum it up: Use all of their cheap oil first then carefully supplement US oil at home to keep our priced regulated and keep our oil industry primed to produce when needed. Do not let our oil industry fall like our steel industry did.

 

[TorontoGold]

https://www.marketwatch.com/story/r...stems-demise-are-fake-news-heres-why-4e712804

No no no, must be something deeper. Would Bengali Patriot Press Pvt lie?

 

[NorthDakota]

There's a reason the US tries to keep oil flowing freely and cheaply out of the Middle East along with Venezuela and even Russia. It satisfies the world's demand, keeping international economies fed on properly priced crude while we try to remain relatively self reliant while keeping our huge future reserves largely untapped. If the world depended on out oil to be part of the international stock, the prices would be much higher as our oil is expensive to get out of the ground. But in times of war or large scale international economic downturn, the cost of our oil for us doesn't matter. To sum it up: Use all of their cheap oil first then carefully supplement US oil at home to keep our priced regulated and keep our oil industry primed to produce when needed. Do not let our oil industry fall like our steel industry did.

I had heard a big reason we like the petrodollar as well is we get to see who is spending what as well.

 

[Irish#1]

enrico got me thinking last night. If Russia (lots of natural resource capital) and China (labor/ financial capital) align, the USD petrodollar could be in real trouble. Particularly with regards to the United State's manageable and accumulated debt due to the strength of the petrodollar.

There are some good points here which also link to enrico's article sin post #358:


Petrodollar Alert: Putin Prepares To Announce "Holy Grail" Gas Deal With China | Zero Hedge

Russia has also made a $20 billion dollar goods for oil deal with Iran recently.

The most interesting thing, is it took over 10 years for someone to reply to Cack's original post! lol

 

[BobbyMac]

The most interesting thing, is it took over 10 years for someone to reply to Cack's original post! lol

Cack the Guest.

Was probably sitting in his HS cafeteria when he started this thread.