Weekly Webinar #62: What Is The Petrodollar, and Is It Ending?
Added 2021-06-06 18:22:46 +0000 UTC
Comments
Great webinar coach nailed it! I like researching past history of money, i find it very interesting. What blew my mind is when the dollar the World Reserve Currency dropped being backed by gold and became a fiat currency It made all the world country's currency Fiat crazy. This has never happened before. The worthless paper currencies not being backed by gold they can print it out of thin air as much as they want while they spend it first and we feel the inflation especially in our hard earned savings.
2021-06-10 03:24:53 +0000 UTC
Yeah what about them. I heard their related to oil? Is Aussie and Canadian dollar a hedge for inflation if it happen? What if oil say go to $1,000 a barrel, these two will hold value?
2021-06-09 04:06:16 +0000 UTC
Crypto (a trillion dollar market, comparable to the China's holdings of US treasuries) is gaining momentum these days, and the most popular stablecoins, such as Tether and USDC, are backed by dollar. This creates an indirect demand for dollars from all over the world (especially from countries with weak local currency like Turkey, Argentina or Nigeria) which is bullish for dollar and helps cover a lot of recent money printing (just a speculation)
2021-06-09 00:51:05 +0000 UTC
Food for thought: https://assets.bbhub.io/promo/sites/12/1169707_Crypto-June2021Outlook.pdf
2021-06-09 00:46:49 +0000 UTC
What about Australian and Canadian Dollars? Should I convert my US dollars to other currencies?
2021-06-08 09:02:33 +0000 UTC
Yes coach, the virus was not released on purpose by the chinese. They didn't even know how lethal it was since they built hospitals in a rush, welded people in apartments, etc. They were terrified by the accident! But from that point on, the way they acted with the world was extremely cynical, like making sure the whole world were as devastated as they though they were going to be...
2021-06-08 01:12:21 +0000 UTC
Coach, just want to point out that you misspoke about Poroshenko who you said is a Russian puppet and who is currently living in Russia. I think you meant Yanukovich, who was deposed in 2014 and ran away to Russia. Poroshenko was the one elected in place of Yanukovich and is a hardcore Ukrainian nationalist. Sadly he lost the election to Zelenskiy.
2021-06-07 23:25:22 +0000 UTC
also a good point cheers
2021-06-07 20:24:22 +0000 UTC
You are wrong. Russia isn't marine country. It can't compete economically with them.
2021-06-07 18:44:52 +0000 UTC
paying for those battle group wiith what?
2021-06-07 18:42:21 +0000 UTC
There were a few things brought up in the broadcast that I do not think received the proper attention. To Kieth’s point the Euro is a relatively trusted currency produced by people who want the power inherent to the owner of the reserve currency. The Europeans want global power and this would provide their ends. On a separate point, one of the questioners asked an important question that I do not think was quite received right. That is that America is Chinas biggest buyer (customer). From estimates on the internet, roughly 19% of Chinese exports are to the US. It would seem that it would hurt China very badly to kill off its biggest customer. In addition, with so many poor laborers, could China absorb such a hit to its economy. I think that CRP answered this question, it seemed that he thought China would only do this if they sensed an attach was imminent from the US. CRP also answered Phillip vo, if America collapses very quickly economically, sailors and pilots don’t work for free. US naval groups do not operate when pacific ports will not sell food to the sailors because they won’t take dollars.
2021-06-07 18:07:06 +0000 UTC
Thanks coach, you can make anything interesting. I learn a lot from you but this shit is too heavy. Can we get back to talking about pussy, food, and motorcycles?
2021-06-07 04:55:37 +0000 UTC
if the chinese dump $1.09T worth of US treasuries, the americans will send 2 battle groups to taiwan
2021-06-07 03:26:06 +0000 UTC
Another financial scenario could be that due to the US Fed unprecedented money printing, many countries might lose faith in fiat and start pegging their currencies to gold which would send the gold prices through the roof. Some analysts are predicting potential 10-50k gold in the next 1-2 years.
As for China lab leak, we certainly should not go to war over it, but they need to be punished somehow for developing the virus and then covering up the leak. Can’t just tell them “it’s ok, shit happens”.
2021-06-06 22:23:48 +0000 UTC
The reason for US beef with Russia is due to Putin upsetting the geopolitical climate in Eastern Europe. If his goal was simply to repatriate all ethnic Russians from former Soviet republics then he would first built a vibrant economy in Russia that would be attractive to any outsider looking in (which is by far not the case right now), and he would then invite all those ethnic Russians to come back and give them jobs, free housing, etc. But he’s not doing that. He is using old Soviet methods of forcefully and covertly re-carving established borders of sovereign countries. I think there is no place for that in the 21st century so the West’s beef with Russia in that regard is completely legitimate. And the civilized world agrees as per the UN resolution 68/262 of 2014. Take a look who voted in favor and who voted against and it will tell you everything you need to know as far as this topic is concerned.
2021-06-06 19:38:21 +0000 UTC
Coach-
Caught your webinar live this morning.
Always like to hear your analysis.
1 interesting take away was learning of wurzelroot channel
My bigger takeaway came from your reply to one of your early live chats.
The guy from Peru, seeking your take on what is going to happen to countries who use USD, or peg to USD.
My long forming, macro view is that the “west” is headed for a cleansing “reset”.
A subset of this is the quickly approaching disintegration of the EU, and with it, the Euro.
BUT, your reply to him prompted me to imagine a new scenario-
Few countries would ever consider the yuan or ruble as the global currency, especially Russia/China adopting the others or India, Saudi Arabia, Brazil...
With China and Russia dedollaring, the only remaining “credible” global currency is the Euro.
Which is what you said in essence. It is the “default” global currency. Yuan maybe have a bigger float, but the globe does not trust the CCP.
As you noted, this will cause the value of the Euro to rise, with trillions more Euro’s printed to provide global liquidity as it supersedes the USD as the global currency.
Europe will regain massive power and influence in this scenario.
Where are the “global elite” centered?
What region are “they” historically based in?
Europe.
Could this be their long term goal to regain the global power “they” have appeared to lose during the 20th century?
This whole “globalism” thing seems to be based out of Europe, where “they” are based.
“They” have branches(Bush Family et al) “running” the US.
The US has now outlived its usefulness and will be made the fall guy.
“They” are encouraging massive money printing in the US, while they are more restrained in Europe.
There are bubbles in several areas- stock market, real estate, crypto, pensions
Millions of jobs have evaporated or been displaced by printed money.
Millions of small businesses/restaurants/travel, etc have been killed, with the resultant lost capital investment and cashflow. These people are not recognised in stats.
Inflation is surging.
The bubble is going to burst soon.
And when it does, America will be hurt the worst as the “originator”, but will also drag every other western country down with it.
“They” will use this 10X 2008 crash to scoop up massive assets across the globe, for pennies on the dollar.
The “Euro” will rise as people with money search frantically for options.
“They” will make sure the Euro and/or the GBP remain the most stable, thus supplanting the USD going forward.
This will reestablish their influence and power in countries and capital cities across the globe.
If the Euro is the global currency in 2025, something like this scenario will have played out.
One thing that is near certainty-
The sheeple of the west are in for a very rude surprise, no matter how the coming crash/clash plays out.
