Guest Post by Martin Armstrong
Another oil deal has been initiated without the use of the dollar. The India Ministry of External Affairs (MEA) announced that their latest trade deal with Malaysia would be settled in Indian rupees. “This initiative by the Reserve Bank of India (RBI) is aimed at facilitating the growth of global trade and to support the interests of the global trading community in Indian Rupees (INR),” the formal statement noted.
Indian has benefitted from the West’s distraction from the Ukraine war. The RBI is allowing 18 counties to open Vostro accounts and has been attracting new deals in trade and manufacturing. New Delhi and Moscow have strengthened their relationship as India is not imposing sanctions. The Indian Commerce Ministry said its five-year plan is to “encourage” the use of the rupee on an international scale, while also planning to expand exports $2 trillion by 2030. Trading in rupees will also allow India to save on conversion spreads and limit the country’s dependence on the volatile dollar.
The BRICs treaty (Brazil, Russia, India, and China) remains strong and oil giants Saudi Arabia and Iran would like to join the partnership. The Saudis stated at the beginning of the year that they were open to settling trade in currencies other than the USD. “There are no issues with discussing how we settle our trade arrangements, whether it is in the US dollar, whether it is the euro, whether it is the Saudi riyal,” Al-Jadaan said during Davos. As we have seen in recent months, Saudi Arabia is aligning itself with China over the US.
The Vietnam war and other government missteps made it impossible for the US to maintain the fixed price of gold established under Bretton Woods. The USD relative to gold fell as the supply of dollars grew, pushing Nixon to abandon the Bretton Woods system entirely. US government debt was rapidly rising as confidence in the dollar plummeted. America needed an enticing way to sell its debt, and that was when Nixon convinced Saudi Arabia, the largest crude exporter, to purchase Treasurys in dollars in exchange for military aid. Hence the “petrodollar” was born. The creation of the Organization of the Petroleum Exporting Countries (OPEC) only further enhanced the dollar’s dominance in energy purchases.
Here we are yet again amid another war and a high budget deficit. The Saudis no longer need protection from America, and siding with Western interests would be a deterrent to its international deals with countries in the BRICs alliance and some in the OPEC+. Despite the green agenda, the world cannot operate without oil. The major oil exporters are now aligning and cutting out the US as their middleman.
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You can’t have a petrodollar without petrol. This is the motive behind Biden’s promise to end fossil fuels.
So’s this:
Nothing that the regime has proposed would even come close to offsetting the amount of so called greenhouse gasses released from them blowing up the Nordstream pipelines.
It’s not the crisis that they claim it is, it’s total BS.. It’s about controlling us, not the climate.
Mexico Now Seriously Considering Joining BRICS
Mexico has expressed its interest in joining the BRICS group of emerging economies, which currently consists of Brazil, Russia, India, China and South Africa. The Mexican Foreign Minister, Marcelo Ebrard, said that Mexico shares the vision and values of the BRICS and hopes to deepen its cooperation with them in various fields, especially in medicine and trade…
Mexico is the second-largest economy in Latin America after Brazil.
Maybe we SHOULD bomb TF outta them after all!
Is this, the illegals AND the Fentanyl all because Trump pissed them off about “the wall” back in ’17?
Wouldn’t THAT be ironic!
You would be wise to realize that the $ is on life support and that it’s death is coming soon.
If you are paid in $, you will soon be paid nothing.
99% of Americans are stuck in their normalcy bias.
Hyperinflation can’t come to America they say.
We are the greatest nation on earth they say.
We are a force for good in the world they say.
They have no concept of the laws of economics.
They think our money is real and our nation is still great.
The wakeup call will wipe away their dreams and slap them in the face with reality.
We are a bankrupt nation that can’t print enough fake money to service our debts.
We have to print the money our government needs because our economy is false.
Productive nations will no longer absorb our inflation.
The $ will soon be rejected by the entire world, even Americans will not accept it.
I’m thoroughly familiar with Mexican trade. Silver or lead. I’m bullish on lead.
Bueno.
In August, 1971 the dollar joined all fiat currencies on the way to worthlessness. Empires come and empires go. The American empire may not collapse suddenly but it is in decline.
Ross Perot nailed it, albeit 3 decades early
He’s the guy that cost Bush 41 an election in ’92 while exit polls indicated the “split” vote was equal. /s
There’s always someone else to blame. BTW, screw Clinton.
I can’t help but hate that fuckin’ guy. 8 years of clinton because of that fucking midwit migit.
So you hate him because your countrymen are fucking morons who could not grasp that he was RIGHT?
Explains a lot why America is truly fucked.
Go suck Hillary’s rotten pussy.
I voted for him and would have done so again. I’m pretty sure Trump studied Ross’s campaign and ran the same type campaign, but did it from within the republican party. Perot should have run as a republican against Papa Shrub.
Russia and China are acting like the world police and stopping our Globalist Deep State from stealing other nations natural resources. What comes next BRICS…will 80% of the worlds population boycott the U.S. dollar and refuse to accept it? I smell NATO, neo-con WAR and I can almost see the western powers cities burning. We are led by madmen and fools…the West has a lot of karma coming and the Bible spelled it out for the morons.
The current US Regime is stupid enough to believe that the 2023 US military is as strong as the 1990 or 2023 one. And that Red China or Russia is going to be the same as the third world militaries that they rolled over in Iraq, it won’t of course.
The US military is going to lose a major war.
Within a year of turning tail and slinking home from Afghanistan, the USSR collapsed. We are coming up on the 2 year anniversary of our defeat by a bunch of goat herders in that same sandbox and I would not be surprised to see the same thing happen to the US.
Afghanistan – Where empires go to die.
The end of the Dollar being the world’s reserve currency … if I understand it correctly, means only one thing ………. the End Of America as we know it.
I don’t know exactly what that means. Will there be widespread looting and killing? Will we start a nuclear war? Will some digital currency take it’s place? Will America split up into several countries? Whatever happens, I’m pretty sure it will be bad, very bad.
Don’t know how long it will take either. Some people say it will take years for the world to decouple from the dollar. Some say it will happen almost overnight, without warning. I have no idea.
And how will this affect Jesus’ return? If I were him I’d just say “Screw those dumb shits!”, and stay in heaven.