Log In

Your email is not your username

Register

If you were a member of the old Bodybuilding.com forums and would like to reuse your previous username, you can request it below. We use your email only for registration and do not store it. For more information, please see our Privacy Policy.

Confirm your email

A registration code was sent to your email. Enter it here.

Welcome

You have successfully setup your account.

Sign in

Quick Navigation Bottom Misc
Forum » Here It Comes: Death of the Petrodollar. WW III???
  1. Results 1 to 27 of 27
  2. Page 1 of 1

Thread: Here It Comes: Death of the Petrodollar. WW III???

post 1645965813 08-29-2021, 10:15 AM
-
#1
  1. katya422
  1. katya422
  3. Join Date: Dec 2011
  4. Location: United States
  5. Posts: 34,673
  6. Rep Power: 372543

Here It Comes: Death of the Petrodollar. WW III???

The US dropped the gold standard [dollars convertible to gold by foreign governments] in 1971. The US$ has carried on propped up by US military power and the exclusivity of oil only being sold in US$ which meant that other countries had to buy US$ to buy gold.

Some cracks in this system started to show up around the 07-08 financial crisis when many countries entered into currency swap agreements to work around the need for US$. Now there have been agreements made to sell oil in EUR and in CNY and the Saudis have entered into a military agreement with Russia.

The gentleman who made this video expects that will lead to some type of WWIII with the US on one side and China + Russia on the other side.



Screenshots of peace:













Notice:the article about the Saudis signing a military agreement with Russia is recent; August 21.

[cont.]
INTP Crew
Inattentive ADD Crew
Mom That Miscs Crew
post 1645965883 08-29-2021, 10:16 AM
-
#2
  1. katya422
  1. katya422
  3. Join Date: Dec 2011
  4. Location: United States
  5. Posts: 34,673
  6. Rep Power: 372543
It isn't exactly shocking that our trading partners might decide that US$ aren't worth much anymore.

Notice that the Fed says that they havediscontinuedthis chart [M1] and will no longer be updating it.



They stopped reporting M3 in 2006:





The are still tracking M2, but now only reporting monthly instead of weekly:
Previously, the M2 data series was updated on a weekly basis, ending on Mondays. The M2 successor, M2SL, will be updated instead on a monthly basis. Regardless, this does not change whether or not we will be able to monitor changes in the monetary base, only the frequency at which it is made available.

******

Fed Chairman Jerome Powell has made it clear that he sees no issue with the rising monetary base and the potential for inflation to kick in this summer, as the economy recovers from the impact of the COVID-19 pandemic.

“Inflation is not a problem for this time as near as I can figure. Right now, M2 [money supply] does not really have important implications. It is something we have to unlearn.”
Jerome Powell, Chairman of the Federal Reserve
The Fed’s decision to switch to a regime of average inflation targeting from their previous 2% target is a whole other story I plan on addressing in a separate Substack post, but it is relevant to mention here, as M2 data plays a crucial role in the creation of inflationary indicators.

In addition, while the weekly average seasonally adjusted data is being replaced by the M2SL and will no longer be available, weekly non-seasonally adjusted M2 data will still remain available as the WM2NS, although it will only be updated on a monthly basis.
https://rationalreasoning.substack.c...nuation-of-the
INTP Crew
Inattentive ADD Crew
Mom That Miscs Crew
post 1645965943 08-29-2021, 10:18 AM
-
#3
  1. dusky99
  2. Registered User
  1. dusky99
  2. Registered User
  3. Join Date: Nov 2012
  4. Posts: 8,657
  5. Rep Power: 21095
Part of me hopes it collapses so we can split the country in 2.
post 1645966073 08-29-2021, 10:19 AM
-
#4
  1. FoxMcCocks
  2. Banned
  1. FoxMcCocks
  2. Banned
  3. Join Date: Apr 2010
  4. Age: 35
  5. Posts: 7,694
  6. Rep Power: 0
When did OP become an unhinged CTard?

I remember her being a normal poster not long ago. Or maybe that was some other sloot I’m confusing her with
post 1645966283 08-29-2021, 10:23 AM
-
#5
  1. katya422
  1. katya422
  3. Join Date: Dec 2011
  4. Location: United States
  5. Posts: 34,673
  6. Rep Power: 372543
Originally Posted By FoxMcCocks⏩
When did OP become an unhinged CTard?

I remember her being a normal poster not long ago. Or maybe that was some other sloot I’m confusing her with
Not sure how this qualifies as a conspiracy theory when it is all out in the open.

I went on a deep dive about the financial stuff that was going on in 07-08. Otherwise I would probably not know about the discontinuation of M3 reporting that happened then or the currency swaps that were set up.

I put question marks on WWIII because it's questionable. I don't know that such a thing absolutely will happen, but other countries trying to put space between their economies and the US$/US economy started over a decade ago.

I thought the Saudis signing a military agreement with Russia was kind of a big deal.
INTP Crew
Inattentive ADD Crew
Mom That Miscs Crew
post 1645966293 08-29-2021, 10:24 AM
-
#6
  1. Imthebestmayne
  2. I deed it
  1. Imthebestmayne
  2. I deed it
  3. Join Date: Apr 2011
  4. Posts: 3,929
  5. Rep Power: 15436
didn't read
post 1645966543 08-29-2021, 10:31 AM
-
#7
  1. Kiop
  2. ™gif me so i can gif you©
  1. Kiop
  2. ™gif me so i can gif you©
  3. Join Date: Nov 2015
  4. Posts: 55,724
  5. Rep Power: 222392
possible outcome
this is why people
and rich are investing
in lands and other assests.
if it occured it may push dollar
into more loss of its value and it may end
like the british pound lossing a 20-30% of its
global share in months. like what happened
in the 1960's
post 1645966573 08-29-2021, 10:32 AM
-
#8
  1. olemo
  2. Registered User
  1. olemo
  2. Registered User
  3. Join Date: Dec 2013
  4. Age: 32
  5. Posts: 3,179
  6. Rep Power: 8054
Originally Posted By katya422⏩
Not sure how this qualifies as a conspiracy theory when it is all out in the open.

I went on a deep dive about the financial stuff that was going on in 07-08. Otherwise I would probably not know about the discontinuation of M3 reporting that happened then or the currency swaps that were set up.

I put question marks on WWIII because it's questionable. I don't know that such a thing absolutely will happen, but other countries trying to put space between their economies and the US$/US economy started over a decade ago.

I thought the Saudis signing a military agreement with Russia was kind of a big deal.
the euro will be the most stable currency.
also it's the centre part of the world so trade wise, it will probabaly take over the us petro dollar.
post 1645966763 08-29-2021, 10:35 AM
-
#9
  1. exxtracool
  2. Registered User
  1. exxtracool
  2. Registered User
  3. Join Date: Jan 2018
  4. Location: Canada
  5. Age: 34
  6. Posts: 20,766
  7. Rep Power: 77972
Originally Posted By dusky99⏩
Part of me hopes it collapses so we can split the country in 2.
What a ridiculous thing to say lol
post 1645967033 08-29-2021, 10:41 AM
-
#10
  1. Jimmehhh
  2. Registered User
  1. Jimmehhh
  2. Registered User
  3. Join Date: Jun 2015
  4. Age: 37
  5. Posts: 6,669
  6. Rep Power: 37547
https://wtfhappenedin1971.com/



....Atlas.....
¯\_(ツ)_/¯

"It was always the women, and above all the young ones, who were the most bigoted adherents of the party, the swallowers of slogans, the amateur spies and nosers-out of unorthodoxy." - George Orwell, 1984

LTC is the only heterosexual way.
post 1645967093 08-29-2021, 10:44 AM
-
#11
  1. Leonydus
  2. Registered User
  1. Leonydus
  2. Registered User
  3. Join Date: Sep 2007
  4. Location: North Carolina, United States
  5. Posts: 23,260
  6. Rep Power: 156188
post 1645967233 08-29-2021, 10:48 AM
-
#12
  1. jamesfrancis1
  2. Registered User
  1. jamesfrancis1
  2. Registered User
  3. Join Date: Aug 2020
  4. Age: 56
  5. Posts: 1,978
  6. Rep Power: 0
Believe all YouTube videos
post 1645967313 08-29-2021, 10:50 AM
-
#13
  1. ClivesTriceps
  2. Indian troll farm bot
  1. ClivesTriceps
  2. Indian troll farm bot
  3. Join Date: Nov 2019
  4. Posts: 19,776
  5. Rep Power: 330918
Originally Posted By jamesfrancis1⏩
Believe all YouTube videos
STFU wincel.
Wort ew in th wold.
post 1645967713 08-29-2021, 10:56 AM
-
#14
  1. IPoopStandingUp
  2. Registered User
  1. IPoopStandingUp
  2. Registered User
  3. Join Date: Apr 2013
  4. Location: New Hampshire, United States
  5. Posts: 19,456
  6. Rep Power: 235404
Esteemed posters foxmccocks and jamesfrancis disagree with op so op is clearly wrong
post 1645967773 08-29-2021, 10:58 AM
-
#15
  1. Dogkrack
  2. Banned
  1. Dogkrack
  2. Banned
  3. Join Date: Jun 2019
  4. Posts: 14,820
  5. Rep Power: 0
Originally Posted By exxtracool⏩
What a ridiculous thing to say lol
why? Red states would love watching woke california get their **** pushed in by chyna. come on man.
post 1645971503 08-29-2021, 12:11 PM
-
#16
  1. FAPhaggot
  2. Hawaiian shirt hoarder
  1. FAPhaggot
  2. Hawaiian shirt hoarder
  3. Join Date: Nov 2015
  4. Posts: 24,226
  5. Rep Power: 185354
We've basically been taxing the world for a while with the petrodollar. Countries have to keeps stacks of USD around to buy oil, then we inflate their dollars to chit so that they need to buy more USD to get the same amount of oil.

Other countries aren't gonna deal with that chit forever.
FA Crew
Always Pick 1 Crew

"Experience is something you get right after you need it."
post 1645971673 08-29-2021, 12:15 PM
-
#17
  1. eatmycrackers
  2. lol @ nocoincels; 118 IQ
  1. eatmycrackers
  2. lol @ nocoincels; 118 IQ
  3. Join Date: Aug 2012
  4. Location: United States
  5. Posts: 8,772
  6. Rep Power: 37689
Chinese overlords

Don’t keep fiat in savings convert to BTC!!!

When our dollars are worth less tomorrow than they are today you’ll want to be able to convert to something easily, defi crypto is the way

See Venezuela imagine being caught with your pants down fukking the American (petrodollar) pie

-Bitcoin maximalist
Posts are for fun, not to be taken seriously or as truth.

Angie Varona Appreciation Club Founder
post 1645971813 08-29-2021, 12:18 PM
-
#18
  1. ymer
  1. ymer
  3. Join Date: Feb 2005
  4. Posts: 24,422
  5. Rep Power: 86079
Post deleted by user
post 1645972093 08-29-2021, 12:23 PM
-
#19
  1. soaponarope1
  2. 6'2" 227
  1. soaponarope1
  2. 6'2" 227
  3. Join Date: Jun 2016
  4. Location: Florida, United States
  5. Age: 40
  6. Posts: 13,552
  7. Rep Power: 63078
Yeah we dropped the gold standard but the euro, for example, isn't backed by anything either as far as I know.

What currency has real, tangible value? None that I can think of. I haven't seen a convincing argument backed with facts that says we're screwed, although this is partially due to fiat currency being a relatively new thing. 1971 to now isn't a long time.
post 1645976623 08-29-2021, 01:43 PM
-
#20
  1. katya422
  1. katya422
  3. Join Date: Dec 2011
  4. Location: United States
  5. Posts: 34,673
  6. Rep Power: 372543
Originally Posted By Kiop⏩
possible outcome
this is why people
and rich are investing
in lands and other assests.
if it occured it may push dollar
into more loss of its value and it may end
like the british pound lossing a 20-30% of its
global share in months. like what happened
in the 1960's
That would be quite a haircut.
Originally Posted By olemo⏩
the euro will be the most stable currency.
also it's the centre part of the world so trade wise, it will probabaly take over the us petro dollar.
Do you think so? What about the argument that the EUR is inherently weak as a currency because they can't adjust monetary policy so that it meets the economic needs of such different economies?
Originally Posted By Leonydus⏩
lol
INTP Crew
Inattentive ADD Crew
Mom That Miscs Crew
post 1645976833 08-29-2021, 01:47 PM
-
#21
  1. AdvancedDreamer
  2. Registered Retard
  1. AdvancedDreamer
  2. Registered Retard
  3. Join Date: Nov 2014
  4. Posts: 12,955
  5. Rep Power: 91053
Originally Posted By eatmycrackers⏩
Chinese overlords

Don’t keep fiat in savings convert to BTC!!!

When our dollars are worth less tomorrow than they are today you’ll want to be able to convert to something easily, defi crypto is the way

See Venezuela imagine being caught with your pants down fukking the American (petrodollar) pie

-Bitcoin maximalist
You sound like one of those YouTube spam comments lol
post 1645976973 08-29-2021, 01:50 PM
-
#22
  1. olemo
  2. Registered User
  1. olemo
  2. Registered User
  3. Join Date: Dec 2013
  4. Age: 32
  5. Posts: 3,179
  6. Rep Power: 8054
Originally Posted By katya422⏩
Do you think so? What about the argument that the EUR is inherently weak as a currency because they can't adjust monetary policy so that it meets the economic needs of such different economies?
Could end up problematic if one of the eu countries become a huge exporter and can't devalue the currency like other countries do.


but i don't see that happening to be honest. What i do see is east europe economy's booming and the EU is trying to connect the economy's through alot of huge infrastructure projects.

I do believe the euro economy will boom, with poland becoming a second germany.
post 1645977213 08-29-2021, 01:55 PM
-
#23
  1. katya422
  1. katya422
  3. Join Date: Dec 2011
  4. Location: United States
  5. Posts: 34,673
  6. Rep Power: 372543
Originally Posted By jamesfrancis1⏩
Believe all YouTube videos
You could draw a different conclusion, but it certainly seems like countries are looking to purchase oil in currencies other than the US$.

If it makes you feel any better this periodical blames it on Trump:

https://foreignpolicy.com/2019/12/15...oil-big-think/

But like I said I think that moves started being made in 07-08.
Originally Posted By FA*******⏩
We've basically been taxing the world for a while with the petrodollar. Countries have to keeps stacks of USD around to buy oil, then we inflate their dollars to chit so that they need to buy more USD to get the same amount of oil.

Other countries aren't gonna deal with that chit forever.
And we just inflated the hell out of our currency.
Originally Posted By ymer⏩
Strange how all my Chinese suppliers always want USD and not CNY.

But I'm hedging against all currencies atm, having most of my money on inventory and real estate
I thought that the Chinese pegged their yuan to the US$ specifically to give them a trade advantage. Don't know if anyone can confirm, but I've read that some Chinese products that are sold very cheaply here are actually sold for a higher price in China to their own consumers. Could be fake news.
INTP Crew
Inattentive ADD Crew
Mom That Miscs Crew
post 1645977273 08-29-2021, 01:57 PM
-
#24
  1. SleepWithFan89
  2. Registered User
  1. SleepWithFan89
  2. Registered User
  3. Join Date: Nov 2019
  4. Age: 56
  5. Posts: 7,635
  6. Rep Power: 44640
How can we fight the money changers if we’re fighting ourselves
post 1645977493 08-29-2021, 02:00 PM
-
#25
  1. katya422
  1. katya422
  3. Join Date: Dec 2011
  4. Location: United States
  5. Posts: 34,673
  6. Rep Power: 372543
Originally Posted By olemo⏩
Could end up problematic if one of the eu countries become a huge exporter and can't devalue the currency like other countries do.


but i don't see that happening to be honest. What i do see is east europe economy's booming and the EU is trying to connect the economy's through alot of huge infrastructure projects.

I do believe the euro economy will boom, with poland becoming a second germany.
Like trains and highways? I've been poking around a bit reading on eastern Europe countries. Some of the common gripes are dirty cities, lack of good public transport, and scary bad drivers.

The last time the EUR was getting beat up in the press was also 07-08. Mostly article about Greece and how they needed a weak currency to help them recover, but they were stuck with a stronger currency. And IIRC that was the spark for Brexit too.
INTP Crew
Inattentive ADD Crew
Mom That Miscs Crew
post 1645978463 08-29-2021, 02:17 PM
-
#26
  1. l2ambo
  2. Registered User
  1. l2ambo
  2. Registered User
  3. Join Date: May 2010
  4. Location: Canada
  5. Age: 36
  6. Posts: 8,380
  7. Rep Power: 8260
What makes you think we're not already in WW3? Infiltrating our universities, flipping the sexes and races on eachother, turning ppl gay. They don't need to kill anymore when they can just brainwash ppl not to breed. Countries go to war to take land and establish their government in that region. Let's see here... Does china own a huge portion of US Land? Check. who do you think bought up all those business that went under? Is our government slowely starting to mimic china's? Check. We're in the middle of WW3 now sweety.
"Movin' ahead so life won't pass me by."
post 1645980163 08-29-2021, 02:47 PM
-
#27
  1. katya422
  1. katya422
  3. Join Date: Dec 2011
  4. Location: United States
  5. Posts: 34,673
  6. Rep Power: 372543
Originally Posted By l2ambo⏩
What makes you think we're not already in WW3? Infiltrating our universities, flipping the sexes and races on eachother, turning ppl gay. They don't need to kill anymore when they can just brainwash ppl not to breed. Countries go to war to take land and establish their government in that region. Let's see here... Does china own a huge portion of US Land? Check. who do you think bought up all those business that went under? Is our government slowely starting to mimic china's? Check. We're in the middle of WW3 now sweety.
Completely possible that there is a so-called "cold war" under way. Russia and China manipulating US social media. "Hackers" attacking US agencies and companies.

Someone in R&P gave good cliffs on the Chinese scientist who was working in a Canadian lab and transported viral material to the Wuhan Institute of Virology in China. Read that the same type of material is in Covid, but that is unconfirmed/speculative.
INTP Crew
Inattentive ADD Crew
Mom That Miscs Crew
Quick Navigation Top Misc
Bookmarks
Digg.com
Digg
del.icio.us
del.icio.us
Stumbleupon.com
StumbleUpon
Google.com
Google
Facebook.com
Facebook
Posting Permissions
  1. You may not post new threads
  2. You may not post replies
  3. You may not post attachments
  4. You may not edit your posts