Max Keiser on the Petro-dollar,,,

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Tom Palven
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Max Keiser on the Petro-dollar,,,

Post by Tom Palven » Fri Oct 27, 2017 12:42 pm

...unfortunately without his wife, Stacy Herbert:
https://www.youtube.com/embed/JC7QEqxZCIs
If one can be taught to believe absurdities, one can commit atrocities. --Voltaire

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Re: Max Keiser on the Petro-dollar,,,

Post by bobbo_the_Pragmatist » Fri Oct 27, 2017 5:20 pm

I like Max. Watch him when I surf over him on Russian TV. Sadly....I think he's totally correct on too much of what he says. Had an excellent show just yesterday on.............debt. The worlds debt is now 3.5 times the worlds GDP. "...debt has been commoditized..." The Super Rich over inflating land/real estate values as one of the few places they can "put" their money. Lots of good stuff.................but what to DO with it??? My conclusion: can't do a thing about it.........but its good to recognize why your society is going down the {!#%@} hole.

Dylan Rattigan on msnbc some years ago had much the same messaging....before he was taken off the air. Breeding rabbits now or something.

Fox Busines/Trump/Republicans: still pumping out the garbage though. One massive con after another.
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Re: Max Keiser on the Petro-dollar,,,

Post by Tom Palven » Thu May 24, 2018 11:19 am

Another potential challenge to the dollar?
https://www.rt.com/business/422838-petr ... r-gaddafi/
If one can be taught to believe absurdities, one can commit atrocities. --Voltaire

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Re: Max Keiser on the Petro-dollar,,,

Post by ElectricMonk » Thu May 24, 2018 11:26 am

Loosing the power of the global reserve currency could be the one extremely devastating for the US economy on the medium term ...
... and the best thing that could happen in the long term: US exports, imports and debt are extremely skewed by the fact that the money chaining hands is in domestic currency.

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Re: Max Keiser on the Petro-dollar,,,

Post by bobbo_the_Pragmatist » Thu May 24, 2018 3:50 pm

ElectricMonk wrote: US exports, imports and debt are extremely skewed by the fact that the money chaining hands is in domestic currency.
High finance/economics has always been a bit of a mystery to me. Can you explain this a bit, or bullet why this is true, or provide a link that explains it?
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Re: Max Keiser on the Petro-dollar,,,

Post by ElectricMonk » Thu May 24, 2018 4:51 pm

bobbo_the_Pragmatist wrote:
ElectricMonk wrote: US exports, imports and debt are extremely skewed by the fact that the money chaining hands is in domestic currency.
High finance/economics has always been a bit of a mystery to me. Can you explain this a bit, or bullet why this is true, or provide a link that explains it?
The global trade in raw materials is done in dollars: that means that, for example, Germany, has to buy Dollars from the US before it can buy oil from Saudi Arabia, thus strengthening the $ without the US needing to do anything.
The lack of exchange rates for US importers also means that there is far less uncertainty from fluctuations.
And the US debt (in dollars) loses value with inflation, unlike debt that countries have to take in foreign currency.

If the Yuan becomes the new Reserve Currency, the value of the $ would plummet, making exports more competitive and force the economy become more self-sufficient due to rising import costs. But that is also the reason why China is loath to assume this role, even if it would stroke their Ego.

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Re: Max Keiser on the Petro-dollar,,,

Post by bobbo_the_Pragmatist » Thu May 24, 2018 5:12 pm

Thanks EM...I kinda get that, but what threw me off was "...extremely skewed by the fact that the money changing hands is in domestic currency." IOW, what does the fact that the US $ is used as our domestic currency got to do with int'l trade or its "value"?

If you explain it perfectly, odds are about 30% I'll understand it.

Quibble?: Last I heard, Germany has always had a trade surplus with USA and therefore should be looking for ways to "get rid" of its Dollars? aka: no reason to "buy" them...........or am I missing a subtlety?
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Re: Max Keiser on the Petro-dollar,,,

Post by ElectricMonk » Thu May 24, 2018 5:35 pm

It's very unlikely that I explained it perfectly.

Because international trade is done in $, there is an artificially high demand for the currency, more so than if countries dealt only in the currency of the import and export state.
This, in return, makes the US lean towards Imports vs. exports, since it is simply cheaper to buy things from abroad than to manufacture at home.

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Re: Max Keiser on the Petro-dollar,,,

Post by bobbo_the_Pragmatist » Thu May 24, 2018 8:29 pm

Makes my head hurt........but I think these kinds of issues and others beyond my ken are what gets Max so excited=>Bitcoin!! Its money, so I suspect just another scam.
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