@VictorTheClean3@avoidingfolly@LukeGromen@SantiagoAuFund@imetatronink So as you can see the US-KSA alliance fell apart and new alliance KSA-RU has been established. It is a win-win in long term and KSA has correctly realized that the USA would over-issue $ therefore devaluate all their inground reserves thus seriously lower their income.
@imetatronink Several notes: 1. Using gold in IMS (directly) as monetary payment is no go. It is forbiden by IMF rules. Even RF, its CB, is not gonna to walk that path.
@imetatronink 2. The Russia can not "announce" seling oil for gold. Semi independent private companies swll to market, long term contracts,... 3. Oil producers do coordinate their policies. Only KSA has the power to rump up/down the production to move markets.
@imetatronink 4. The IMS is changing (slooowly, hard to notice) from $ based to Multi-polar Multi-reserve Monetary system. There are 3 main assets / Mundel's ccy areas -$, €, ¥. Gold will play wider rule in future as more active nutral rsrv asset.
@OdiousDebt In sixties the USA has realized that it can no more be the surplus economy it used to be after WW2. After Vietnam the amount of $s outside in rsrvs portfolios were too large to honour.
It was decided that instead of aiming to ctrl US to have highest surplus and leadership they..
@OdiousDebt decided that US will ctrl surpluses of other nations. U S went off the gold in 71, to oil backing.
For 50yrs it was possible to have "deficits without tears".
Aka:
“The Dollar is our currency, but it is your problem“ – John Connolly, US Secretary to the Treasury – 1971.
@OdiousDebt As a result the US had a competitive advantage of free energy printing.
The higher the oil was (but not breaking the demand) the better as their position vis-a-vis trade competitors was better, no?
(Reason why US has invested in shales lately - expecting crash of $ as rsrv ...
@freegroucho@VictorCleaner Do you know about this? images.app.goo.gl/P5LA8J8d4rSNbs…
Most (almost all) Antarctica volcanoes are positioned on the West side which loosing ice. The other bigger part is actually gaining ice. We do not know why. So a GW "proof" that CO2 is responsible for this is not a verified theory.
@freegroucho@VictorCleaner Some glaciers are melting, some glaciers are are gaining (like recently in Greenland.
In middle age Viking's Greenland (time of Maunder's minimum) was full of green pastures, hence the name.
Noticed today the news about ocean ship paths changing frequency of storms? Will repost..
@VictorCleaner@PopescuCo@CNBCi OLD QUOTE: ...Mr. Junior, Be very sure to understand this: They can "stand cheap oil prices". But, it is the loss of having the US$ removed as the "world reserve currency" that makes them "fight" a lower oil price, and the new "world oil currency" that it would bring...
@VictorCleaner@PopescuCo@CNBCi ...Bring this thought into focus and you will understand why Iran and Iraq did fight so long. And why Iraq invaded. The warships are an attempt to keep prices from "falling"! You think long and hard on this!"