Yes! Free market economics or death! Unless of course, we can't compete. Then we shall royally fuck the free market.
LL...do you have a cuckold fetish or something? I have never seen anyone so eager to get humiliated as you are. It has nothing to do with our inability to compete. We can compete just fine. It has to do with debt and economic power. When Nixon took us off the gold standard it left our currency vulnerable. Nixon did a brilliant thing...he recognized the royal house of Saud as the legitimate rulers of Saudi Arabia...in return, as the dominant force of OPEC, they passed an agreement that oil would only be exchanged for US dollars and only in New York and London. So we took ourselves off the gold standard and put ourselves on the oil standard. It's oil that backs our currency now instead of gold.
Even better is that we don't even have to hold the oil...OPEC does that for us. This is why after Nixon cut that deal that domestic oil production took a nosedive. Why produce it ourselves when we can force OPEC to spend the money to produce the commodity that backs our currency and we can keep ours in reserve? The result is that every nation in the world has to go through us or Great Britain to get oil and a) we get a nice hefty handling fee, and b) if someone wants to get bitchy about money we own them, they suddenly get no oil. It means we can bully the rest of the world to give us whatever we want, including money, and they can't do a damn thing about it. As such our debt has been "phantom debt". It has been totally irrelevant because no one could ever afford to hold us accountable for it.....until now.
The problem is that, as I mentioned earlier, Iran (and previously Iraq) want to trade oil for Euros. Iraq actually
did it....our tanks were in Baghdad a couple months later. Iran wants to because it would make them the richest nation on the planet. They are developing a nuclear weapon so they
can start trading oil for a currency other than US dollars.
We
can't have that. Suddenly we would become accountable for the money we owe. We would have nothing to hold over the heads of our creditors and all that debt stops being "phantom debt" and suddenly becomes "
real debt". Mexico would be in better financial shape and they would suddenly have a better standard of living as well.
This is why energy independence is suddenly so important. If we lose the petrodollar then foreign nations are no longer backing our currency. This is precisely why Obama's reduction of drilling permits is a fucking catastrophe...it slows our ability to back our own currency and frankly it's Obama's policies that have led us closer to war. If we lose the petrodollar and oil starts being traded for a currency other than US dollars we will have no choice but to take the oil fields of the entire Middle East and maybe even beyond. That means widespread invasions...China and Russia won't sit back and let us do that.....it could potentially start a world war.
But I am sure all this goes right over the head of LL the cuckold. Before you post again LL, give me your safety word so I know when you have had enough.