@whowasthatmaskedman ✝

@RachelLia2003 you have to remember that the left uses words they dont know the meaning of

@inked I see the irony in this post, even if you dont😷

@Thinkerbell Heres the thing.. I have known for more tham a decade that this moment in the US economy would come. It was inevitable. But I made the point repeatedly that there would be a trigger event. I had no idea what it would be. Then along came Trump. One of the factors keeping a lid on the dumpster fire was the fact that America kept its end of the bargain, doing business, supporting foreign policy and meeting military obligations..Trump scuttled that. and destabalised everything. People made a serious attempt at establishing an alternate payement method, which China was ready for. And now more than 50% of Global trade is not in $US and its rising. As soon as the Saudis are ready they will move OPEC oil to the BRICS system and that will be the end of that. No one will announce the death of the $US. People will just stop buying the debt..We see the signs of that now..
So maybe it will be the bond market that collapses. Or maybe Trump will have a brain fart and announce America is defaulting on all bonds held by non American businesses and individuals. In which case there will be two markets ans eceyone overseas will suddendle be demanding gold as payment from America. Or maybe the US missiles will run out defending Saudi Arabia and Israel and Russia will sweep into town while Trump tweets on the toilet.. All I know is that the collapse is only starting now. Which rock from the avalanche will land first is impossible to predict in advance..So I dont know if America will end up with something resembling the walking dead, or a feudal system or warlords. Or maybe a Military dictatorship of local or foreign making..Its all possible,,😷

@whowasthatmaskedman

[media=https://youtu.be/wJLokS0H-ZQ]

@whowasthatmaskedman
Whether they are going to do that, the Saudis are preparing for when their petroleum runs out, estimated as in the next sixty to eighty years at present production and trading rates, or a couple of centuries without exports. So it would make sense for the country to seek the trading arrangements most advantageous to it, even if it means no longer relying on the US Dollar.

As the world's reserves dwindle, new ones become harder and costlier to find and exploit, the prices will rise and those nations able to use their own reserves internally may become more protectionist and isolationist.

The world needs prepare for it, bearing in mind that it impacts far more than mere petrol-pump prices.

The retail price of petrol "we all" moan about is really unimportant in the whole context - for most of us it mainly affects our social and commuter motoring. That of Diesel oil and its marine equivalent is far more important.

Vast amounts of paraffin / kerosene is used by aircraft every day - how much flying is genuinely necessary?

Yet these three fuels are by no means the only products from petroleum, and I see very little discussion of those, and of sensible alternatives to them.

While Saudi Arabia is one of the world's main producers, and has no especial need to stay tied to the $US if better alternatives exist or form.