Petrodollar system.

Discussion in 'Politics' started by storch, Mar 6, 2019.

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  1. Okiefreak

    Okiefreak Senior Member

    No. See above. You're a broken record. You're fixated on your simplistic conspiracy theory, and I'm sure nothing can shake you.
     
    Balbus likes this.
  2. Irminsul

    Irminsul Valkyrie

    I'm not sure, you'll have to pull that currency from yer own ass. :p
     
  3. Balbus

    Balbus Super Moderator Super Moderator

    Storch

    So who are the ‘producers of the soap opera’?
     
  4. Balbus

    Balbus Super Moderator Super Moderator

    Storch

    Ok so you think the ‘producers of the soap opera’ (whoever they are) would rather blow up the world than let people buy and sell oil in any other currency than dollars?

    So what do we do about it?
     
  5. storch

    storch The compliant

    Good answer! Except that it's not a conspiracy theory; it's a fact. The U.S. made an arrangement to force the world to pay for oil with dollars only, which is a detriment to those forced to pay. So I guess it's not a good answer.

    So now we know what the petrodollar is all about. And you seem to be okay with the military intervention solution when it comes to those countries that decide to sell their oil in another currency denomination.

    Is that about right?
     
  6. storch

    storch The compliant

    You seem to be genuinely ignorant of the fact that the petrodollar system forces other countries to use dollars only to purchase their oil. Am I correct? Is that the narrative you've bought in to?
     
    Last edited: Mar 11, 2019
  7. Balbus

    Balbus Super Moderator Super Moderator

    Storch

    So who are the ‘producers of the soap opera’?
     
  8. storch

    storch The compliant

    The ones who somehow conditioned your brain to believe that the U.S. didn't arrange for a situation where the rest of the world has to acquire dollars to purchase oil, thereby burdening them. Why do you ask?

    Here. We'll get you started on your deprogramming.

    Oil can be bought from OPEC only if you have dollars. Non-oil producing countries, such as most underdeveloped countries and Japan, first have to sell their goods to earn dollars with which they can purchase oil. If they cannot earn enough dollars, then they have to borrow dollars from the WB/IMF, which have to be paid back, with interest, in dollars. This creates a great demand for dollars outside the U.S. In contrast, the U.S. only has to print dollar bills in exchange for goods. Even for its own oil imports, the U.S. can print dollar bills without exporting or selling its goods. For instance, in 2003 the current U.S. account deficit and external debt has been running at more than $500 billion. Put in simple terms, the U.S. will receive $500 billion more in goods and services from other countries than it will provide them. The imported goods are paid by printing dollar bills, i.e., "fiat" dollars.
     
    Last edited: Mar 11, 2019
  9. Balbus

    Balbus Super Moderator Super Moderator

    Storch

    So you don’t know who ‘they’ are or are you just not saying?

    I ask because that seems to be the linchpin on which you have based your ideas - that there is some secret plan organised by secret people - the ‘producers of the soap opera’ that you talked about in relation to the petrodollars.

    So who ‘they’ are seems very germane.
     
    Last edited: Mar 11, 2019
    Okiefreak likes this.
  10. Okiefreak

    Okiefreak Senior Member

    No, Storch. Neither of those things is okay. You asked me what I thought would happen, not what I think is okay. I outlined a number of possibilities if what you said were true, and then explained why it may not be, or is way exaggerated. Do you see how you just twisted my words? That seems to be your pattern. If you do that with everything you read, no wonder you have a skewed view of the world. Your claim is not a fact. It's the opinion of fringe pundits and Russians,and since it involves a secret plot, it is a conspiracy theory.
     
    Last edited: Mar 11, 2019
  11. quark

    quark Parts Unknown

    It’s not like you’d do anything besides try to ridicule and shame whomever he named if his theory were right. So why does it really matter?
     
    storch likes this.
  12. Okiefreak

    Okiefreak Senior Member

    And its not like Storch would be receptive to any arguments that would challenge his pet conspiracy theory. So why bother with the whole thread? Power elite theories and conspiracy theories are accepted by important pockets of Americans, some armed and dangerous, so it's important that these ideas be brought into the light and debated. Some accept the half-baked theories of Ron Paul, while others go further into the ((("foreign elements"))) that allegedly control international banking. And "petrodollar war" theorists accuse the United States government of perpetrating armed conflict to preserve its ill-gotten gains. Ron Paul even moved financial markets briefly with his infomercial on behalf of Stansberry investments predicting an imminent collapse of our currency. When somebody purports to know the real truth and dismisses the rest of us as ignorant dupes, it's useful to assess whether or not (s)he's just blowin' smoke or is a crackpot.
     
    Last edited: Mar 11, 2019
  13. storch

    storch The compliant

    Oh really? What part of my claim, specifically, is not a fact? Go out on your limb.
     
  14. quark

    quark Parts Unknown

    Oil must be purchased in USD —> Someone who sure as fuck doesn’t lose money because of this may have something to do with it

    Do you want a phone number and a zip code? Maybe take the perpetrators daughter to the prom and take her virginity.

    Jesus Christ.
     
    storch likes this.
  15. Balbus

    Balbus Super Moderator Super Moderator

    Storch

    So who are the ‘producers of the soap opera’ - these secret people working in secret who ‘arrange’ the world and ‘condition’ other people about how to think about it?
     
  16. Balbus

    Balbus Super Moderator Super Moderator

    quark

    Have you go someone or some group in mind or is this just some unsubstantiated belief? And how did they arrange it?
     
  17. quark

    quark Parts Unknown

    Yes, I do. Why would I mention it in this thread? You’re a sour fuck that talks about delusionalsoap operas on the internet lol
     
  18. storch

    storch The compliant

    What, you don't believe that that countries had to acquire U.S. dollars to purchase their oil, thereby creating an artificial demand for the dollar?
     
  19. Balbus

    Balbus Super Moderator Super Moderator

    quark

    It was storch that brought up the ‘producers of the soap opera’ not me i've been trying to get him to explain and name these producers ever since.
     
    Okiefreak likes this.
  20. Balbus

    Balbus Super Moderator Super Moderator

    Storch

    So who are the secret people who ‘arrange’ the world (including the petrodollar system) and ‘condition’ other people about how to think about it?
     
  21. storch

    storch The compliant

    First let's establish that you've been fooled. Is it your contention that other countries did not have to acquire U.S. dollars to purchase their oil, thereby creating an artificial demand for the dollar?

    In other words, do you believe that this:

    Before the 20th century, the value of money was tied to gold. Banks that lent money were constrained by the amount of their gold reserves. The Bretton Woods Agreement of 1944 established a system of exchange rates that allowed governments to sell their gold to the U.S. Treasury. But in 1971, U.S. President Richard Nixon took the country off the gold standard, which formally ended the linkage between the world's major currencies and gold.

    The U.S. dollar then went through a massive devaluation, and oil played a crucial role in propping it back up. Nixon negotiated a deal with Saudi Arabia whereby in exchange for arms and protection, the Saudis would denominate all future sales of oil in U.S. dollars. Other OPEC members agreed to similar deals, ensuring perpetual global demand for greenbacks. The dominance of the U.S. "petrodollar" continues to this day.

    The End Of An Era: Is The US Petrodollar Under Threat? | OilPrice.com

    . . . is the ramblings of a conspiracy theorist?
     
    Last edited: Mar 11, 2019
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