Prepare For The End Of The American Petro-Dollar!

[ActionJackson]

It will only cause inflation.

Famous (or infamous) last words.

 

[Vastator]

Yup! A good way to go. A little gold (when I can afford a gram or two).

Gold can be good. But for day to day trade, and barter silver is probably gonna be more useful to the common person. Unless buying a high dollar item.

 

[Vastator]

Gold can be good. But for day to day trade, and barter silver is probably gonna be more useful to the common person. Unless buying a high dollar item.

Not to mention the current value to ratio against gold. It's historically hovered around a 10 to 1. So currently either gold is being way overvalued, or silver is being undervalued. I'm betting on the latter, until humankind suffers a huge population decline...

 

[ActionJackson]

Gold can be good. But for day to day trade, and barter silver is probably gonna be more useful to the common person. Unless buying a high dollar item.

Yup. I agree. Here's a picture of some of my stash about a year ago. I buy a little every month so I've accumulated more since this pic was taken:

This is all the Gold and Goldbacks I currently have. Not a lot. The Goldbacks may come in handy for day-to-day trade.

 

[The Duke]

Probably true. But they're Obama's puppets. In the end ... we can all agree that the Marxists are holding the reins of power with a firm grip. They have the DOJ, FBI, many of the Federal Courts; the IRS, EPA, ATF, and all the other members of the Alphabet Mafia under their complete control. They're like the Borg ... they have a single mission and agenda and that's the total destruction of the USA and her Constitution (not to mention her culture, history, and way of life).

They were pulling Obama's strings.

 

[The Duke]

Not to mention the current value to ratio against gold. It's historically hovered around a 10 to 1. So currently either gold is being way overvalued, or silver is being undervalued. I'm betting on the latter, until humankind suffers a huge population decline...

Wow! Silver is up pretty good!

I think gold is overvalued right now.

Maybe I go try to sell a necklace or 2 I gave my mama in the early 2000s.

One cost like $327 back then.

 

[bugs]

Wow! Silver is up pretty good!

I think gold is overvalued right now.

I Disagree I Think Gold is UNDERVALUED and Silver is MASSIVELY Undervalued!

 

[pknopp]

I wonder how many folks think that killing eagles with windmills is good:

Or how about windmills spilling oil or burning?:

Or solar panels frying birds:

How about this bulldozer burying broken windmills under the soil:

Or the poor African kids mining for minerals used in car batteries:

Of course ... to supply all of those batteries ... we need a good strip mine or two:

Yup ... the Greenies pretend to be virtuous but they're as environmentally unfriendly as anyone else.

So Businesses should be allowed to operate freely without any environmental regulations?

Environmental regulations are bad?

 

[luiza]

the dollar is used as a benchmark since the early 1970s after the collapse of the Bretton Woods gold standard

Not all countries use the greenback only around 88%

Have you noticed how almost everything you mention is related to the past.
Much easier for old dodderers as it is about all you have left-- old memories are better retained than recent ones .Pre dementia etc
But unfortunately you invariably ignore the present and future or are unable to give them context . Which is in part why you just cannot figure out future probabilities.
Then you belittle others who can , trying to protect your own poor inability in this forward planning part of your last chapter .

Just chewing the cud , being a silly cow.
But watch your dollar shrink soon . 50% ?

 

[luiza]

With Silver and Gold you will be able to buy your own passport to material riches as the system collapses.
Gold to $3000 minimum and Silver to almost any height. Somewhere between $100 and $500 an ounce , imho . Maybe higher .
Minus the huge inflation .

 

[Nobody911]

With the rise of new and emerging markets, the end of the American petro-dollar system seems to be looming.

Firstly, many countries have started to diversify their reserves, leading to a significant decrease in their reliance on the US dollar. Countries such as China and Russia have been making moves to use their own currencies and other alternatives, such as the Euro or the Chinese yuan, to trade oil, bypassing the use of the US dollar. This shift away from the US dollar is caused by the perception that the US dollar will continue to decline in value, making it less attractive for countries to maintain heavy dependence on it.

Secondly, the instability of the US economy is another factor contributing to the end of the petro-dollar system. With the economic recession in 2008 and the subsequent large-scale quantitative easing measures(QE)taken by the Federal Reserve, confidence in the US economy has been waning in recent years. This has pushed countries to find alternative investment options, causing them to shift their reserves from the US dollar to other assets such as gold and foreign currencies.

Thirdly, the oil-rich countries themselves are making efforts at diversification. For instance, the Saudi Arabian government launched its diversification plan called Vision 2030, which aims to reduce the country's dependence on oil exports and revenues. Meanwhile, Iran, one of the world's largest oil exporters, has increased exploration for gold and other metals. Additionally, these countries are also exploring alternative currencies and payment systems to trade their oil, which could further undermine the petro-dollar system.

Lastly, the rise of cryptocurrencies has also added to the challenges the American petro-dollar system faces. With the introduction of cryptocurrency, countries can conduct cross-border transactions without the need for intermediaries and central authorities, which could offer a much cheaper and safer option than the US dollar.

Of course, the end of the American petro-dollar system is coming. Although the system has been stable for many years, current trends and new developments in the global market are changing the game. This shift could have significant implications on the US economy as well as the world’s financial system. The US government MUST FIND ways of adapting the changing times and remain relevant to the global economy.

 

[Concerned American]

Yes ... pennies, nickels, dimes, and quarters. A penny saved is a penny earned. I probably have a couple of hundred bucks which can be used in an emergency.

If they are pre 1982, they have value in the copper. Post 1982, pennies are nothing more than copper-plated zinc. Like Bush's "golden dollar," they have no intrinsic value at all.

 

[ActionJackson]

If they are pre 1982, they have value in the copper. Post 1982, pennies are nothing more than copper-plated zinc. Like Bush's "golden dollar," they have no intrinsic value at all.

I don't put much stock in modern coinage. I generally don't buy much with cash so I don't have a lot of change to save, but I have a container I toss it in when I do accumulate it. I have some "junk silver" coins that I keep with my silver and gold collection. I have a friend who really thinks he's planning for the future by saving modern quarters with all the various States represented on them. Poor guy. I sorta feel sorry for anyone who trusts fake money (paper dollars and coins made of dross).

 

[Harpy Eagle]

It was MUCH stronger under Trump than it is now.

Do you have the data to support this claim?

 

[Concerned American]

I don't put much stock in modern coinage. I generally don't buy much with cash so I don't have a lot of change to save, but I have a container I toss it in when I do accumulate it. I have some "junk silver" coins that I keep with my silver and gold collection. I have a friend who really thinks he's planning for the future by saving modern quarters with all the various States represented on them. Poor guy. I sorta feel sorry for anyone who trusts fake money (paper dollars and coins made of dross).

US money started to lose its integrity when those quarter programs started. There are so many quarter designs currently that a counterfeiter could probably pass phony quarters in a bank. There are currently at least 107 different quarter designs--50 states, and 56 America the Beautiful designs with the common Washington quarter. US coinage only has collector value and if no one is collecting, there is no value. I pick up silver rounds and gold bullion coins at spot price on occasion when I have a little extra money.

 

[Harpy Eagle]

The Clinton years weren't too bad, but not as good as the Reagan years. Trump revived (albeit for a short time) the American dream. But that dream is gone for good.

Sucks to be you. If you did not put your future into the hands of politicians you would be much better off.

We (my wife and I) are doing far better under Biden than under Trump. Not because of Biden, but because of our hard work. 21% income increase from 2021 to 2022 according to our tax guy who just got done with our taxes. Probably close to 40% more than we were making in 2019.

 

[Vastator]

Sucks to be you. If you did not put your future into the hands of politicians you would be much better off.

We (my wife and I) are doing far better under Biden than under Trump. Not because of Biden, but because of our hard work. 21% income increase from 2021 to 2022 according to our tax guy who just got done with our taxes. Probably close to 40% more than we were making in 2019.

Complete, and total bullshit. Lowering tides sink all ships. Your phony "nonpartisan shtick" is absurd...

 

[Harpy Eagle]

Complete, and total bullshit. Lowering tides sink all ships. Your phony "nonpartisan shtick" is absurd...

Sorry you suck, but not all of us rely on the govt to make our lives better.

Give it a try once and see how it feels.

 

[Concerned American]

not all of us rely on the govt to make our lives better.

Just your health care pro, eh, Gigi. Are you not aware that VA is government?

 

[ActionJackson]

Sucks to be you. If you did not put your future into the hands of politicians you would be much better off.

We (my wife and I) are doing far better under Biden than under Trump. Not because of Biden, but because of our hard work. 21% income increase from 2021 to 2022 according to our tax guy who just got done with our taxes. Probably close to 40% more than we were making in 2019.

You must work for the DNC.