'Black Swan' June 9th prediction about petrodollar agreement ending is almost certainly fake - more in comments
(www.1arabia.com)
ECON & BANK COLLAPSE 💸
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The whole "Saudi will not accept dollars for oil" is not even a necessary component for the crash of the dollar.
All we need is Saudi accepting local currencies (non US Dollar) for oil. Thats all.
Why is this? USD is the "world reserve currency" simply because they forced all oil producing countries to sell oil exclusively in USD. This mean every country had to stock pile USD to be able to buy oil, and every country was at America's mercy as far as the USD currency price was concerned.
That has ended, with Saudi saying that they are considering selling oil for local currencies. The only important question is - When and how many countries will be buying oil in non-USD currencies.
Even more of a good argument to bring all manufacturing back to the Continental USA. Start production of durable goods. My Mother has a Stove from the 70's that still works fine. Meanwhile another family member has dropped over $2k in stoves over the last 8 years and they still keep breaking. Make a durable simple car, with simple mechanics that uses the same parts in the same cars for Decades. Each State can handle key parts and pieces and then guarantee employment and industry to these parts of the Country. Id freeze all evil capital and offer it amnesty if it invests hugely on infrastructure where it holds a minority position and needs to work in tandem with labour and National needs.
The refrigerator I keep out in my workshop office was in my parents basement when I was just a lad in the late 60s/early 70s. It was already 15 or more years old then. I have never had any work done on it. It is a Frigidaire.
Now everything is engineered with planned obsolescence in mind and that time is about 2 years after sale. I had a burner go out in my wifes 2 year old oven. It was only 200 dollars more to replace the entire oven. So thats what we did.
Fertilizer and pharmaceutical manufacturing too, we're screwed if Russia and China cut us off.
You should sticky this thread bubble.