Petrodollar system.

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

  1. Balbus

    Balbus Super Moderator Super Moderator

    Storch

    And I notice you still evade the question who are your ‘producers of the soap opera’ and how are they involved in supposedly ‘arranging’ things?

    What is it I believe that isn’t true? I agree that petrol is traded in dollars is that untrue.
     
  2. storch

    storch The compliant

    I see. So you have no problem with the details of this:

    In 1944, at the Bretton Woods conference, a new fixed exchange rate was established. All global currencies were pegged to the U.S. dollar. The reason that the rest of the world went along with this arrangement is because if at any time a nation didn’t feel comfortable with the dollar, they could easily convert their dollar holdings into gold at a rate of thirty-five dollars per ounce. Of course, this created a global demand for dollars, which gives the Federal government the “right” to print more dollars. I’m sure that you’re not ignorant of the fact that Washington’s preferred method of dealing with its economic problems is to print more dollars.

    By 1971, with a two-hundred billion dollar price tag on the Viet Nam war, other countries were getting nervous because of the growing imbalance between U.S. gold reserves and U.S. debt. The U.S. did not have the money to pay its debts. To add insult to injury, its gold reserves were at an all-time low because other countries started asking for gold in exchange for their U.S. dollars. But instead of doing something about its debt, the U.S. continued to rack up more debt, which in turn increased other countries’ demand for more gold from the U.S. In response, and in contravention of the Bretton Woods agreement, Washington decided to end the convertibility of the dollar to gold.
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    So, due to its own incompetence, the U.S. could no longer afford to pay its debts. So, it came up with a solution. It arranged to basically put at tax on the rest of the world by forcing them to use dollars to pay for oil through an arrangement with the OPEC nations. And the U.S. has been getting a free ride ever since. If you need me to explain how that free ride works, just ask me and I'll tell you . . . again. Then Iraq decided to break that arrangement by selling their oil in other that dollars. So the U.S. paid them a visit, destroyed their country, killed their president, and switched the currency for oil back to dollars. But according to the soap opera narrative, Iraq had weapons of mass destruction, and it would be foolish to wait for that mushroom cloud. Everyone tuned in to the soap opera narrative and sucked it up like good spectators.

    Then Syria and Iran threaten to stop using the dollar, and guess what? That's right, they need regime change. But it's just a coincidence, isn't it?
    _____________________________________________________________________________________________________________________________________

    You don't disagree with any of this?
     
  3. Balbus

    Balbus Super Moderator Super Moderator

    Storch

    And I notice you still evade the question who are your ‘producers of the soap opera’ and how are they involved in supposedly ‘arranging’ things?

    Back to the ‘soap opera’ which you seem to believe is orchestrated by shadowy producers is that correct?

    Actually many people didn’t believe the arguments been put forward by the neo-con politicians that were pushing for the invasion of Iraq, there were many threads arguing about it in the politic forum at the time.
     
  4. storch

    storch The compliant

    I asked you whether or not you disagreed with any of the details in my post. Since you didn't indicate your disagreement, may I assume that you don't believe the U.S. invaded, destroyed, and murdered hundreds of thousands of innocent people because of WMDs, and that you are in agreement that Iraq was attacked because it began accepting other than U.S. dollars for oil?
     
  5. Balbus

    Balbus Super Moderator Super Moderator

    Storch

    And AGAIN I notice you still evade the question who are your ‘producers of the soap opera’ and how are they involved in supposedly ‘arranging’ things?

    I believe the WMD was an excuse to invade Iraq I don’t accept that Iraq was attacked because it began accepting other currencies than U.S. dollars for its oil, why do you believe that?
     
    Okiefreak likes this.
  6. storch

    storch The compliant

    Oh I'd say that the people who decided to keep you and other people ignorant concerning the real reason for the U.S. invasion of Iraq, and the real reason for the threats to other Middle East countries that have decided to not use the dollar in their transactions with other countries are the ones creating the false narrative you feed on.

    You are what's known as a coincidence theorist. Despite the U.S. immediately switching Iraq's oil sales back to the dollar after invasion, and despite the U.S.'s threats to all countries who are abandoning the dollar in their transactions, you believe it's all coincidence.

    Would you like for me to provide you with proof of what I've just said, or would you like to research it yourself, after which we can compare notes?
     
  7. Balbus

    Balbus Super Moderator Super Moderator

    Storch

    Sorry this is sounding very much like a conspiracy theory

    Give me a reason why I shouldn’t move the thread to the conspiracy forum.
     
  8. Okiefreak

    Okiefreak Senior Member

    He's talking about the people of whom none dare speak their names. If he told you, they'd have to kill him.
     
    stormountainman and Balbus like this.
  9. storch

    storch The compliant

    I take it you don't care to have me show you the connection between the nations being invaded and threatened by the U.S. and their subsequent bypassing of the U.S. dollar in their oil transactions. Very well.

    Then I guess that you can move this thread to the conspiracy forum. It doesn't really matter. Anyone can see your reluctance to talk about the details I've presented.
     
  10. Balbus

    Balbus Super Moderator Super Moderator

    Storch

    So you can't prove you are not talking about conspiracy theory?
     
  11. storch

    storch The compliant

    The same question applies to you.

    When we last left you:

    I asked you to tell me what details of what I posted you disagree with, and this is what you post?

    From your link:

    But we should be clear: the Petro-dollar does not exist, and really hasn't in any meaningful way since the 1970s, therefore the "Petro-yuan" has no future. This is not to say that oil will never be traded in yuan, that is likely, but it is to say that trading oil in yuan will not suddenly transform the currency into the global reserve many claim is inevitable.
    _______________________________________________________________________________________________________________________________________

    Don't you even read what you use to support your ideas? What's funny is that the guy says the petrodollar does not exist, and in the same sentence says, ". . . and really hasn't since the 1970s." So which is it? It doesn't exist, or not since the 70s? Even funnier is that it didn't exist before the 1970s, but that didn't stop him from implying that it did exist before the 1970s. Not reading your sources before applying them to the discussion is a mistake. And it puts your credibility in question.

    Now, what detail in my previous post do you disagree with? We'll start there.
     
  12. storch

    storch The compliant

    So you can't prove that the details of my post is false? I assume that's true because you haven't asked me to provide evidence of the connection between the timing of the nations being invaded and threatened by the U.S. and their subsequent bypassing of the U.S. dollar in their oil transactions. Just tell me you don't want to discuss that aspect of the topic and I'll respect your right to take the fifth.
     
  13. Balbus

    Balbus Super Moderator Super Moderator

    Storch

    LOL oh you really are what a very un-PC friend of mine used to call a major league dick teaser – what evidence are you talking about, if you have it show it, and stop all this fucking around.
     
  14. storch

    storch The compliant

    First you should tell me that you disagree with what I've said about the connection between the timing of the nations being invaded and threatened by the U.S. and their subsequent bypassing of the U.S. dollar in their oil transactions. That way I can show everyone that you are the undisputed dick-teaser is and who's really fucking around.

    So tell me that there's no connection between the timing of the nations being invaded and the ones being threatened by the U.S., and their subsequent bypassing of the U.S. dollar in their oil transactions. That way you won't be able to state that you never said that. That's how a dick-teaser is dealt with.
    _____________________________________________________________________________

    Here's a little dick-teaser for just for you:

    Syria switches to euro amid confrontation with US

    By Reuters

    DAMASCUS (
    Reuters) - Syria has switched all of the state's foreign currency transactions to euros from dollars amid a political confrontation with the United States, the head of state-owned Commercial Bank of Syria said on Monday.

    "This is a precaution. We are talking about billions of dollars," Duraid Durgham told Reuters.

    The bank, which still dominates the Syrian market although private banks have been allowed to set up in the last few years, has also stopped dealing with dollars in the international foreign exchange flows of private clients.

    The United States has been at the forefront of international pressure on Syria for its alleged role in the assassination of former Lebanese Prime Minister Rafik al-Hariri a year ago. Damascus denies involvement in the killing.

    "It looks like a kind of pre-emptive action aimed at making their foreign assets safer, preventing them from getting frozen in case of any conflict," said a Middle East economist who requested anonymity.
     
  15. Balbus

    Balbus Super Moderator Super Moderator

    Storch

    LOL – Which just means you have fuck all, zilch, nada…..
     
  16. neonspectraltoast

    neonspectraltoast Best Member

    Notes: Balbus is the undisputed dick-teaser.
     
    storch likes this.
  17. Balbus

    Balbus Super Moderator Super Moderator

    Storch

    So AGAIN who are your ‘producers of the soap opera’ and how are they involved in supposedly ‘arranging’ things?
     
  18. storch

    storch The compliant

    So there we have it, folks. Balbus has left the discussion and has digressed into belligerence rather than commit to a position and defend it concerning what I've shown him. I've even given him a sample of what I'm talking about, but he's not . . . into it.
     
    Last edited: Mar 13, 2019
  19. neonspectraltoast

    neonspectraltoast Best Member

    Balbus, you should just leave hip forums now. Everyone saw this. I was even taking notes.
     
    storch likes this.
  20. storch

    storch The compliant

    They're hiding in plain sight, Balbus. They're the ones who have led you to accept a narrative that simply isn't true. You know better than to debate the issue because I've already proven my point, and you've offered nothing to rebut it.

    Also, if you're hoping to bury my points and my questions to you by engaging in insults and name-calling, I'm simply going to repost them on the next page, and will continue to do so until you commit to a position and back it up with something other than the "conspiracy nut" cry that has not served you at all so far.
     

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