2021, the next 1971?

Discussion in 'Currencies' started by leo25, Jun 19, 2020.

  1. REDBACK

    REDBACK Well-Known Member Silver Stacker

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  2. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    I was born in 71 and it must have been a good year.
    I dont remember anything.
     
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  3. Jason1

    Jason1 Well-Known Member

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    Yer
    The chinese might have had a chance at making the rmb the next world currency but they fucked that chance.
    They couldnt help them selves but make them selves out as the bad guy and the people not to trust financially, they tried hard to look trust worthy and failed, now they have given up all together with thier world PR campaigns as that was to hard and swapped it for muscle and no one is copping that .
    no country in their right mind would swap the USD out for the RMB.
    The USD is going tobe fine and will stay where it is.
    Unless china goes to war and actually wins, the RMB future would be more questionable than the USD IMO
     
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  4. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    well, too lazy to search for citations so take it all with a grain of salt, but...

    Apparently some of the oil bearing nations were looking to move away from completing their trades in the USD for several reasons. Firstly they had to buy USD in order to trade, secondly the greenback is a promisary note and apparently not acceptable in Islamic circles. They wanted to trade in gold instead, using the islamic units of dirahm and the other one.

    I think the main countries who were looking to do this were Iraq, Iran, Libya and Syria.

    Not sure what happenned to them after that.

    All a bit vague and consipracy theory ish but that's how I like my drama!
     
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  5. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Seven countries in five years
     
  6. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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  7. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Seven countries whose only claim to fame is that they’re psychotic.
     
  8. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Funny that having large oil reserves is also positively correlated
     
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  9. kilo

    kilo Well-Known Member Silver Stacker

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    Beirut Nitropril accident, entire gov resigns :confused:
     
  10. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    So you think.

    Oil costs nothing when you can print your way to buying it.
     
  11. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    The US can produce enough oil to meet domestic demand. It just needs the $$ and the legislative approval.

    Now I’m not sure about Australia, but when it comes to $$ there’s no problem.
     
  12. alor

    alor Well-Known Member Silver Stacker

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    it is ok for US to buy lots of oil from Russia, directly supporting Russia
    but it is not ok for Germany to buy gas from Russia, as Trump cannot understand, why the US need to protect Germany from Russia
    USD is jealous about Euro

    Beirut is asking International community for direction, it's like what ??? the people are totally lost there???

    for oil has a history of 50 cents per barrel USD, so for US$0... there is no surprise there

    for any national currency once tied to gold, the paper nakedness is exposed for all to see, the countries must be able to stand up to any big bully
    the paper only non standard would not be able to trade with others, only gold has a say
     
  13. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Good question. Why does the US needs to protect Germany from Russia? Now that Germany is unified and very powerful. I think it's the other way round, the US is protecting Russia from Germany... Germany can protect itself and doesn't need American protection. The same can be said of Japan.
     
  14. alor

    alor Well-Known Member Silver Stacker

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  15. alor

    alor Well-Known Member Silver Stacker

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    using oil as weapon, trying to sanction North-Stream2, that would be completed anyway
    making Germany too reliant on Russia
    Merkel to Trump, but you bought more Russian oil than we bought Gas from Russia lol,
    Sie sind absolut abhängig von russischem Öl
     
  16. leo25

    leo25 Well-Known Member Silver Stacker

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    It's looking like US bonds (world savings account) are becoming more and more undesirable and irrelevant. But at the same time the would still wants to save in a safe and liquid asset. Maybe 2021 will see gold become part of a global reserve currency after all. :)

    This video talks about some points.

     

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