The Failing "Dollar" - Inflation and the "BRICS Nations", Is America rushing to another "Great Depression"?

[TruthSeeker112125]

With consideration towards the increasing decline of "The Dollar", ever since it was taken off the Gold Standard and backed by nothing more than a "Promise to Pay", & Our Military, The "Treasonous & Unrestrained Federal Spending since 9-11", The "Tarriffs", as well as the endless printing/counterfeiting of the Dollar by the Government,......

I Believe that America is soon to experience an Unprecedented Economic Collapse.
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"The TL;DR on the petrodollar, although it’s certainly been written about in much greater detail with much greater precision by others, is that virtually all global oil trade, the lifeblood of every modern economy, is conducted in dollars, thereby inflating demand for dollars and allowing the unlimited money-printing bonanza that the U.S. government has been on since the end of the gold standard in the 70s.

Conversely, reduced dollar demand would lead inevitably to higher interest rates, in turn leading to higher interest rates on U.S. treasuries and eventually, if it’s bad enough, collapse of the U.S. economy.

Related: Kenya Abandons U.S. Dollar, Petrodollar Decline Accelerates

Critically, in the context of the Iran war, the petrodollar regime is part of the longstanding arrangement with the Gulf States dating back to the 1970s, following Nixon's unpegging of the dollar from gold, in which they agree to trade oil in dollars in exchange for U.S. security guarantees."

“While the U.S. and Israeli militaries have severely degraded Iran’s capabilities, the regime still retains enough to combat power to selectively close off the Strait of Hormuz—unless countries negotiate safe passage and pay in Chinese yuan…

But even before the Iran war, the petrodollar regime had come under pressure, Deutsche Bank noted. U.S. sanctions on oil from Russia and Iran created an illicit trade that relied on other currencies, like the yuan.

Saudi Arabia also joined mBridge project, a central bank digital currency initiative led by China that takes on the dollar-payment infrastructure.

“The current conflict may expose further fault lines, by challenging the US security umbrella for Gulf infrastructure and the maritime security for global trade in oil,” analysts warned.“

Predictions of doom for the dollar have proven overblown in the past, but the current situation lends more credibility to the CCP’s “petroyuan” project designed to usurp the dollar as the preferred currency for global oil trade."

As Hormuz Tolls Settled in Yuan, Is Chinese ‘Petroyuan’ Viable?

Happy Easter, dear AP readers.

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