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Let me guess.......If they knew all this why did they go ahead with Oil. Still confused.
USSSSSSSSSSRRRRRRRRRRRRRRRRR.
Let me guess.......If they knew all this why did they go ahead with Oil. Still confused.
A bargain to increase the demand of the dollar, in the international arena.Why did the US go ahead with unpegging of the Dollar from the Gold Standard and switch to oil? The reasons are, or to be precise, the reasons given by Nixon are there in my previous post. More on this at the end.
Pegging of the dollar to oil was done so as to preserve its demand. If oil were available for other currencies, the US dollar wouldn't be so much sought after.
Now, let me go back to the promises Nixon made as to why he left the Gold Standard. He gave certain reasons for doing what he did. Are those the real reasons? That is for you to speculate.
Let me guess.......
USSSSSSSSSSRRRRRRRRRRRRRRRRR.
My own analogy of coldwar....A bargain to increase the demand of the dollar, in the international arena.
My own analogy of coldwar....
Some body building competition happened. Both guys flexed muscles.
Uncle used steroids for quick win. He won that event. Now licking the side effects.
Good question.
This takes us back to the confiscation of gold in the US, not by virtue of a Congressional Act, but by virtue of an Executive Order.
What followed was gold was hoarded by the US government.
Now, Dollars printed against this gold was supposed to keep the Dollar stable. So far, so good.
Now, we have a finite amount of gold, and thereby, a finite number of US Dollars.* This means, the economy cannot grow (false assumption, because, the number of Dollars in circulation does not correspond to the economy, just as much a higher GDP does not mean a larger economy).
In any event, this one article entitled "Nixon's Colossal Monetary Error: The Verdict 40 Years Later," gives a good view.
Excerpt (promises):
Excerpt (aftermath):
Excerpt (explains relativity):
This article was published in Forbes. This is very surprising.
_____________
*- One way to increase wealth while staying within the Gold Standard would be to increase production, export that in exchange for gold, and thus allow for printing of more dollars. In any event, inflation should be linked to essential commodities, such as food, energy, etc., and not just precious metals.
The fact that Trump (not Clinton) is living in the white house tells you that American decline is happening. May not be the way believed by most people, but she is declining RELATIVELY. The core of Trump policy is: we (Americans) can't afford our empire alone anymore, so those who benefit from our empire must pay it from now on, otherwise we will leave you to deal with Russian, Chinese, etc alone.Whoever is looking towards an American decline should delay their expectations indefinitely :biggrin2: Its not going to happen under Trump.
Trump is a bumbling idi0t who wittingly or unwittingly due to his megalomania and the similar idi0cy of a lot of Americans has allowed Russia to use him as their most potent virus into the American system. Now America is really in decline (under Trump). Can the Americans reverse course? I still have faith in their collective ability to do the right thing that matters (after a lot of wrongs). But they will have to pull themselves from a very deep sh1thole dug up by Trump and the American Trumptards.The fact that Trump (not Clinton) is living in the white house tells you that American decline is happening. May not be the way believed by most people, but she is declining RELATIVELY. The core of Trump policy is: we (Americans) can't afford our empire alone anymore, so those who benefit from our empire must pay it from now on, otherwise we will leave you to deal with Russian, Chinese, etc alone.
Americans don't owe anything to anybody.Trump is a bumbling idi0t who wittingly or unwittingly due to his megalomania and the similar idi0cy of a lot of Americans has allowed Russia to use him as their most potent virus into the American system. Now America is really in decline (under Trump). Can the Americans reverse course? I still have faith in their collective ability to do the right thing that matters (after a lot of wrongs). But they will have to pull themselves from a very deep sh1thole dug up by Trump and the American Trumptards.
It has nothing to do with American collective ability to the right thing or wrong thing. It is happening simply because American has been overstretching their capabilities.Trump is a bumbling idi0t who wittingly or unwittingly due to his megalomania and the similar idi0cy of a lot of Americans has allowed Russia to use him as their most potent virus into the American system. Now America is really in decline (under Trump). Can the Americans reverse course? I still have faith in their collective ability to do the right thing that matters (after a lot of wrongs). But they will have to pull themselves from a very deep sh1thole dug up by Trump and the American Trumptards.
Trump’s days in White House are numbered. Decline may start sooner than you expect if Trump is the one supposed to prevent it. Check Twitter.Whoever is looking towards an American decline should delay their expectations indefinitely :biggrin2: Its not going to happen under Trump.
The United Arab Emirates, a model Persian Gulf petro-state where endless billions from crude exports feed a giant sovereign wealth fund, isn’t the most obvious customer for Texan oil.
Yet, in a trade that illustrates how the rise of the American shale industry is upending energy markets across the globe, the U.A.E. bought oil directly from the U.S. in December, according to data from the federal government. A tanker sailed from Houston and arrived in the Persian Gulf last month.
Wlite in Engrish.目前,越来越多的证据表明,美国实际上正沿着“加速主义”的东风继续走下去。
目前,越来越多的证据表明,美国实际上正沿着“加速主义”的东风继续走下去。
Wlite in Engrish.
Decline need not be spectacular,just look at britain and more recently it's military review March 2021.it would atleast go that way and small catastrophic failures are not out of the question.Somebody resurrected this ancient thread.
Anyway.. no declining happening in near future