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Russia Just Pulled Itself Out Of The Petrodollar
Zerohedge ^
| 1-14-2015
| Durden
Posted on 01/14/2015 10:37:04 AM PST by tcrlaf
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To: tcrlaf
Note the term "recycled petrodollars" in the article. That term goes back to the era after the oil embargo. We bought oil from Saudi Arabia (among other places), and paid in dollars. What could they do with their dollars? Buy things from us, including stocks and bonds. This bringing the dollars back home was referred to as "recycling." Remember, back then "recycling" was a very good word. Almost sacred. Calling it "recycling" disguised the fact that we were selling our country, piece by piece, in exchange for oil. We were literally burning up our country.
Always watch the terms being used. Most of the time they are "good sounding" terms used to disguise something evil.
As an aside, one of the few advantages of getting old is that you don't have to read the "minutes of the previous meeting." You were there and remember it. It's harder to put something over on someone who can answer "yes" to "Vas you dere, Charlie?"
21
posted on
01/14/2015 12:57:07 PM PST
by
JoeFromSidney
(Book RESISTANCE TO TYRANNY, available from Amazon.)
To: tcrlaf
How is that new reserve currency coming along, Vladimir?
22
posted on
01/14/2015 1:01:11 PM PST
by
GeronL
To: editor-surveyor
“Bad for everyone but those that keep their wealth in precious metals.” — spot on. Paper (any kind) can easily become worthless. It really isn’t “real money”.
23
posted on
01/15/2015 2:16:31 AM PST
by
odds
To: editor-surveyor
Agreed. China will only think of itself. At present they’re laughing & in control.
24
posted on
01/15/2015 2:18:11 AM PST
by
odds
To: tcrlaf
Yep and they are trading with China our so called friends.
Keep in mind both economies are Capitalist even though Socially they are both communist.
I know they are saying this is going to be doom and gloom for Russia, but I can't see how?
If Russia was the old Soviet Union Communist economy or like Venezuela Socialist economy. Then I could see it hurting them.
However, Russia has a 13% flat tax only. Ever since they implemented it. They have a surplus of tax money.
Now who I think this will hurt is us. It will hurt our Shell Oil industry.
Although the cost of doing business world wide will be cheaper which is really good for everyone.
To: 1rudeboy
Which pretty much means that anything coming from ZeroHedge is BS.I like "Truth". That's why I always get my information from the Bureau of Labor Statistics and Business Insider. /S
26
posted on
01/15/2015 12:51:51 PM PST
by
Stentor
("The best lack all conviction, while the worst are full of passionate intensity.")
To: SunkenCiv
When Tyler durden (my ass) is speaking, it is “Tinfoiled Again” without any doubt.
Now let's stock up some fuel (with hats on) because peak oil is just behind the corner...
To: Stentor
Now what’s wrong with BLS ? Perhaps some people are just idiots, who have no clue how to read statistics ?
To: Grzegorz 246
You’re right. Some people are idiots.
29
posted on
01/16/2015 2:56:09 PM PST
by
Stentor
("The best lack all conviction, while the worst are full of passionate intensity.")
To: Grzegorz 246
I was peeking at some hydrocarbons just today, nice, and a little weird, to fill up for $25.
30
posted on
01/16/2015 3:03:48 PM PST
by
SunkenCiv
(Imagine an imaginary menagerie manager imagining managing an imaginary menagerie.)
To: editor-surveyor
The Fed will nuke the Dollar when they meet in two weeks, by making the very necessary upward tweak in interest rates. If the FED raises rates it will cause the value of the dollar to INCREASE !!!!
31
posted on
01/16/2015 3:11:21 PM PST
by
Zeneta
(Thoughts in time and out of season.)
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