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The Petrodollar System Flirts With Collapse… What It Means for Gold, Oil, and the Dollar
International Man ^
| 03/27/2022
| Nick Giambruno
Posted on 03/27/2022 5:47:26 AM PDT by SeekAndFind
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To: CodeToad
Shipping has nothing to do with the payment of oil in various currencies.The minute the dollar reserve system is officially scrapped, shipping and payment currency will get joined at the hip. Americans will not be willing to foot the bill for blue water maritime security for cargo ships whose cargo is not denominated in USD. Neither the Russian nor Chinese navies can do what the US Navy does. Post petrodollar, the USN will dial back it's security umbrella to cover only USD denominated cargo ships. Non USD cargo ships will bear the added costs of mercenary security and will pay much much higher insurance costs.
To: SeekAndFind
Rollover... Account#212112
42
posted on
03/27/2022 1:27:44 PM PDT
by
Chode
(there is no fall back position, there's no rally point, there is no LZ... we're on our own. #FJB)
To: Poison Pill
No answer for insurance. When I worked at State I sent a similar proposal for Somali pirates in 2007 because NATO wasn’t patrolling as required by treaty. Not well received but can exist only so long if we police free passage.
43
posted on
03/27/2022 2:08:18 PM PDT
by
Jumper
( )
To: Poison Pill
Insurance underwriters get to earn their money—deal with real risk.
;-)
44
posted on
03/27/2022 4:28:16 PM PDT
by
cgbg
(A kleptocracy--if they can keep it. Think of it as the Cantillon Effect in action.)
To: Poison Pill
The govt will be holding the gold reserves to back our currency. I would imagine you will still be able to buy and sell gold and silver just like always.
45
posted on
03/27/2022 9:30:12 PM PDT
by
Georgia Girl 2
(The only purpose of a pistol is to fight your way back to the rifle you should never have dropped)
To: Georgia Girl 2
The govt will be holding the gold reserves to back our currency.If this happened (it won't) the global economy would contract by something like 90%.
To: nathanbedford
Xi jinping is fully familiar with the tenants tenets of general Sun Tzu [...]Excellent analysis, marred only by a minor typo!
Regards,
47
posted on
03/28/2022 11:13:36 PM PDT
by
alexander_busek
(Extraordinary claims require extraordinary evidence.)
To: alexander_busek
I blame Dragon NaturallySpeaking for that error while I look for an excuse for the proofreader.
48
posted on
03/28/2022 11:45:22 PM PDT
by
nathanbedford
(Attack, repeat, attack! - Bull Halsey)
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