Let's talk about the petro dollar and US imperialism

Don't get me wrong, I love me some dank leaf banter. But retardetion is the worst kind of shitposting

every dollar is stained with blood

>russia having all the control
Last time they had a shot at it they ruined everything.

>retardetion

True maybe we should stop using fossil fuels

deal, cant wait to see the desert people go bankrupt.

Uhm... pic unrelated?

That would be nice if we could stop exchanging innocent blood for oil. I mean fossil fuels are a finite resource anyway. It is is only a matter of time until we run out. It is very inefficient. We should research more renewable/sustainable energy sources while we can and stop the madness.

It would be better if the government would acknowledge they did it.

No Hungarybro. Pic very related.

Look up the gold dinar.

Pic related

Consider it basically acknowledged

youtube.com/watch?v=Fgcd1ghag5Y

This is the psychopathic murderer your people support. And because your elections are a sham she will win. Trump is a joke my friend. Screenshot this post so when the election results come in you can look back on these words.

I wish we weren't so fucking greedy.

Sure, dominating the money-oil trade has been good for us economically, but I'm more than willing to give up financial prosperity in order to stop us from the endless war and extra-judicial murder. It's not like waging secret wars doesn't have A LOT of negative consequences.

The shitshow we call the government is a direct consequence of our collective greed.

Very true user. Good post.

We're run by Jews, what did you expect?

>build proper railroads, trains are electric (nuclear/solar/gas)
>build proper public transportation system and infrastructure (low oil consumption, subway, trolleysbuses, trams)
>improve energy efficiency in homes : lighting, insolation, heating and AC
>live in smaller cities instead of a megapolis so you can travel around by foot/bike
We dont need 100% meme energy, having a healthy mix of fossil, nuclear and renewable + more efficient transport, homes. This can put a serious dent in the oil demand. Of course at one point electric cars will get a big market share and shift things even more.

I recall reading that the ousting of Saddam Hussein was related to the petrodollar since he wanted to start trading in euros.

>Sure, dominating the money-oil trade has been good for us economically, but I'm more than willing to give up financial prosperity in order to stop us from the endless war and extra-judicial murder. It's not like waging secret wars doesn't have A LOT of negative consequences.

It's been good for specific Americans, yes. It's been rather shitty for the average American. Reserve currency status is a weakness in countries with unlike development levels, not a strength.

I know what it was, and it is also quite evident for me that it was just washing money for Gadhaffi under the sanctions while pushing his retarded political agenda. I'm pretty darn sure that it had very little to do with the petro dollar. Especially since unironically trying to replace the petro dollar with gold-based money is a really-really shit idea to begin with in the modern globalist economy.

You make some good points, I hope they are put into practice sooner than later.

Challenge US authority/financial security = death

It doesn't actually make you wealthier though... it just lets your government spend like crazy on social programs and illegal wars and enriching the financial elites and political class etc. with no repercussions in the present, but insane amounts of pain in the future.

americanism is one of the worst things humanity have ever faced, together with bolshevism and jesuitism

This is the reason that the true leftist countries of the World use to paint you as the jailers and main enemies of mankind.

Hello Italianfriend. What would your solution be?

Some still do! But I hear socialism is on the decline in South America, especially since Chavez died. Is this true?

more spiritualism and less materialism

Good answer. In vino veritas!

No.
The cultural identity of South América was forged by the left and the working Class. No matter what president comes on each country. We belong to the left by birth rights.

I am happy to hear that.

>US

Or

>(((IMF))) and the (((US)))?

Its the IMF in its totality, governments are reduced to something like regional managers. That's why France was the first to declare itself part of the """Humanitarian efforts""" in Libya against Ghaddafi. Because the Franc was the currency most threatened by his intentions.

Dumbed down western voters actually believed he was passing out Viagra to his snipers so they could rape peasants more effectively, in between killing them in mass.

That's what the (((media))) told them to believe so the (((global monetary order))) wouldn't be threatened by his commodity based pan-African currency.

tl,dr: OP is a faggot.

Nah

The IMF is Eurofaggotry, bruh.

le r/ selection

Us. You guys are meanies.

Eurofaggotry, that based in the US, and a global pariah.

nah

It hurts because its the truth.

nope

The IMF was made by the US, but prior to the IMF becoming active, its first American director was revealed to be a Soviet agent and instead of giving the Soviets a place to hang out in DC, the US decided to be inclusive to Europe and let them have the IMF to run.

The Europeans then promptly ran the organization into, and then through, the ground. For a region so noted for its engineering prowess, they're pretty bad at running institutions involving large amounts of arithmetic.

So, what is going to happen now that BRICS is developing into a competitor of IMF? Is it going to start a new "oil alliance" like OPEC?

Korea will join them to satisfy the acronym autism.

...

...

Having oil pegged to the USD is the only thing that keeps the USA from turning into Somalia.

The US economy is an extremely powerful facade that allows us to be the richest country in the world even though we produce nothing and its mostly akin to just pushing paper around on a desk.

All the stuff like technological innovation we do here only benefits an extremely tiny portion of our economy.

This has been what the US has been doing over in the mid east since Bush I.

Bush, Clinton, Bush II and Obama are bascially the same, Obama is a CIA agent, Clinton has been buddies with Bush I since Mena Airport days back in the early 80s.

The social issue differences between the parties are window dressing.

the whole thing is rigged to blow anyway

10/10 post user.

Economies are all too interlinked by globalization. Any coordinated attempt to screw over the US would hurt them just as badly.

I think they're just organizing in order to hedge against/ride out the collapse of the existing system.

The integrated systems of petrodollar and the reserve currency status that this lends the USD is to the US' detriment, not its benefit. US debt has effectively infinite foreign demand, and the way that this impacts currency exchanges (the more Treasury notes you have, the more depreciated your currency is vs the USD) makes the petrodollar effectively a form of American-led welfare for the rest of the world, particularly impacting countries who are willing to run investment-led economies, such as Germany, Japan, and China.

But Russia does appear to be attempting to gain more influence in the "oil and gas" economy, look up TurkStream . Research says that Russia supplies much of Europe with oil and nat gas. Is it possible that Russia is trying to cut in on the US's game/petro dollar, by starting a new "oil alliance"?

Without the Saudis playing ball, it's a no-go for a competitor for the oil market. Russian NatGas is being used for heating, where Saudi oil is being used for gasoline, almost singularly. No competition between the two commodities even though they're still fossil fuels.

The petro dollar article was removed from wikipedia recently....crt stinks like cuntfunk

Petrodollar is basically the system where oil is denominated in dollars so we can move money out of the US and avoid hyperinflation, right?

I assume this is why we just don't fucking dump Shithead Arabia

congrats for realizing the entire point of the Ukraine and Syrian conflicts...

It's all about pipelines and isolating Russian energy from the European market.

Sure, we can talk about that--as soon as we talk about Keynesianism and fiat currency.

It's a Cold War institution that was implemented to cockblock the Communists from getting access to what was then the largest proven oil reserve on the planet. USD that is out of country can only ever come home, but hyperinflation won't be the end result of that.

As foreign Treasury bonds flow home, the currency markets will fluctuate and the USD will depreciate in value. As the USD depreciates, it will become more viable to manufacture things in the US, satisfying foreign demand. This hurts consumers (their currency can buy less stuff) but helps them as well (more people are employed, so more people can enter the consumer market.) If the US employment rate is low, then a depreciating USD will improve domestic prospects, not hurt them.

But this comes at a cost, a cost which is borne by every single foreign exporter to the US, including China, Japan, Germany, Saudi Arabia, Mexico, etc, etc.

I saw the "Russian oil pipeline" map of Ukraine and thought it to be a bit "odd" of how many pipelines go through there into Europe.

We should have taken over Canada

That's not all of it, devaluation isn't likely to turn into hyperinflation against major currencies, just more inflation. It also allows oil nations to elevate their currency value since they receive dollars, sell them and receive domestic currencies(demand for their $$). This is why so many currency pegs got destroyed when shale became big, no one was giving them dollars anymore.

Canada is also our "family" spawned from Britain.

Megacities like LA or Beijing are more efficient than sprawling suburbias

Having a family on 80m2 is more efficient than on 160m2 with a lawn and two cars

The utility of a gold standard is that it prevents trade flows from getting too far out of balance. But gold itself is a crummy currency; too bulky and hard to use for day-to-day transactions.

Keynesianism isn't flawless, but neither is the Austrian school. The Austrians are basically a bunch of highly intelligent people doing something very stupid. The basic premise of the Austrian school is flawed; markets aren't perfect, and even Adam Smith recognized this back in 1776, when he talks about the difference between natural and market prices.

>The USA is a cuck whore boot licker to their corporate masters,as song as they fall,they move in to China
I'd rather be irrelevant than a cuck nation

The Austrians don't just ignore that view... they understand markets are imperfect and that entrepreneurs make mistakes, but pin the blame largely on gov't interventions.

Also, your criticism of gold is silly... it's called bank notes. They figured this stuff out in like the late middle ages.

Why is it that so many of the BRICS countries are said to have now stockpiled gold. And why are so many of the BRICS countries currently having problems both inside and outside of their borders?

>But gold itself is a crummy currency; too bulky and hard to use for day-to-day transactions.
wat.

1 ounce of gold is over $1000, does 1 gold coin sound more bulky than $1000 in cash? You don't even have to carry around gold either, there are dollar bills for conversion and you carry 1 piece of paper...

>Keynesianism isn't flawless, but neither is the Austrian school.
WTF?!
>The Austrians are basically a bunch of highly intelligent people doing something very stupid.
dude...
>The basic premise of the Austrian school is flawed; markets aren't perfect,
What school did you learn this shit? You don't know anything.

>Also, your criticism of gold is silly... it's called bank notes. They figured this stuff out in like the late middle ages.

Bank notes transform a non-"fiat" system into a mixed-fiat economy, with all the trouble of bank runs amplified tenfold since it's impossible, let alone impractical, for each bank to have sufficient gold to cover its clients' deposits in full.

>The Austrians don't just ignore that view... they understand markets are imperfect and that entrepreneurs make mistakes, but pin the blame largely on gov't interventions.

The state is responsible for the creation of what Austrians consider "free" markets to begin with. State intervention is necessary for the creation of a functional market; one has never just appeared out of thin air. Even (and especially) black markets exist as a result of that intervention.

>1 ounce of gold is over $1000, does 1 gold coin sound more bulky than $1000 in cash? You don't even have to carry around gold either, there are dollar bills for conversion and you carry 1 piece of paper...

So a gold coin is less bulky than paper money, but then you say that I don't even carry around the coin but instead carry around paper money equivalent in value to the coin?

I'm looking at it from the perspective of reality. You say gold is bulky but it largely isn't because it's so valuable. Your entire argument boils down the a non-issue because either you carry around 1 gold piece which is very light(1 ounce) or 10 $100 bills. The last option is just carrying around 1 bill representing 1 gold piece. No matter how you look at it there is no bulk.

Gold-backed is NOT fiat. Don't know why you're trying to conflate the two.

Why do you take a fractional reserve system to be the default? A fucking chequing account is not a speculative investment.

Markets arise spontaneously wherever demand exists... people were trading in grain and arrowheads and seashells for millenia before centralized states arose. Please explain in detail how markets are a state creation.

>but instead carry around paper money equivalent in value to the coin?
That's how money worked for hundreds of years before 1971 and the termination of Bretton-Woods.

Another note... Austrians do not advocate a gold standard... instead they want a free market in currency... 0 govt involvement. The historical trend has always gravitated toward gold/silver as the optimum due to their material and scarcity properties.

>The historical trend has always gravitated toward gold/silver as the optimum due to their material and scarcity properties.
You're forgetting the part where no one can take away the value of your currency without actually stealing it. It is ultimate confidence in money.

Gold isn't bulky...if you're only buying things in increments of 1000 dollars or whatever. But if you want to buy a candy bar, better bust out the knife and the scales to figure out how much gold equals 75 cents. That, or the relative price of candy bars skyrocketed so you can get change.

>That's how money worked for hundreds of years before 1971 and the termination of Bretton-Woods.

The world didn't go to a gold-backed paper currency until very, very late into the history of money. Currency was largely precious metal coins (silver and copper for lower denominations) OR hard fiat paper currency. Very little in-between, and the "bank notes of the Middle Ages" were akin to a credit system, usable only at branches of banks that gave the notes, and were highly restricted.

>Markets arise spontaneously wherever demand exists... people were trading in grain and arrowheads and seashells for millenia before centralized states arose. Please explain in detail how markets are a state creation.

Barter systems are not currency systems, you dope. Trading in a market requires a viable medium of exchange to reduce the cost of solving information problems between market actors. Viable mediums of exchange universally come from state intervention, be it through the printing of fiat currency or through the minting of coins. The history of coinage is fascinating to research, but unfortunately it destroys the concept of PM currencies being free from government internvention.

>Another note... Austrians do not advocate a gold standard... instead they want a free market in currency... 0 govt involvement. The historical trend has always gravitated toward gold/silver as the optimum due to their material and scarcity properties

No such thing as zero government involvement, which is what Austrians have never gotten right. Austrians took a theoretical defense of an ideal Smithian market and transmuted it into an axiom that this is how all markets work.

I literally gave you 3 examples of mediums of exchange before governments ever existed. Are you working with some kind of kooky definition I'm not aware of?

>No such thing as zero government involvement
Nice tautology.. "can't work because it'll never work"

Is it that difficult to imagine multiple, private, competing issuers of currency?

>I literally gave you 3 examples of mediums of exchange before governments ever existed. Are you working with some kind of kooky definition I'm not aware of?

Trading grain for arrowheads is not trading grain for seashells. Trading seashells for arrowheads is not trading arrowheads for a carved mask. These are all explicit swaps for previously agreed upon goods. None of them meet the definition of a currency in your example, though grain was used as a currency in antiquity, but you won't mention that because its trade was heavily regulated by - you guessed it - government.

>leafposter

I don't know why I even bothered.

Maybe he believes in the one currency and one world government.

Lets talk about the numerous terrorist attacks he sponsored in the 80s in Europe and how he got what he deserved for being a coke addled paedophile..

>they're not mediums of exchange because they're not mediums of exchange because I said so

More tautologies...

Currency is not a unique problem only solvable by governments... this is the Austrian claim. Now please debunk it without more circular declarations.

They're not mediums of exchange because you can't trade it for a variety of goods.

The archaeological evidence suggests strongly that they were.

The problem with barter of the double coincidence of wants affected pre-civilizational peoples/communities just as strongly and they came up with ways to deal with it.

Let me ask you... if gold is so inviable a currency why is the issuance of gold currency always the first thing that a government tries to bring under its monopolistic control?

Also, on gold coinage... why is measuring gold out, inspecting it for purity, then stamping it with a difficult-to-counterfeit seal soooo difficult a task we have to rely on government to do it instead of private actors in a competitive free market?

The US currency is worthless. It is money printed out of thin air, and has value based on empty promises from bankers and politicians and because you believe it. There is a reason why every leader who challenges the authority of the dollar ends up overthrown and killed and like said government always brings gold under monopolistic control. It is very valuable not just because of its rarity but also because of its ability to be used in industrial applications. It is true "wealth" even though some may argue wealth itself is simply an abstract idea. With that being said stop being such a fucking donkey.

>The problem with barter of the double coincidence of wants affected pre-civilizational peoples/communities just as strongly and they came up with ways to deal with it.

The way they came up with ways to deal with it were "form a government and make a standard currency." The ones which didn't got wiped out or never moved past subsistence gathering.

>Also, on gold coinage... why is measuring gold out, inspecting it for purity, then stamping it with a difficult-to-counterfeit seal soooo difficult a task we have to rely on government to do it instead of private actors in a competitive free market?

Because private actors have even more incentive to lie about it than governments do. Because a government derives tax revenue from overall activity in the economy, it has a vested interest in maintaining rules which are stable enough to allow economic activity to increase. Private gold smelters have a profit incentive to use less material to create the same product, which is not useful in maintaining currency valuation.