I don't see this coming...not for a long time.

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I don't see this coming...not for a long time. - 1/5/2018 12:45:51 PM

MrRodgers

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Joined: 7/30/2005
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The US has led the way and the EU has gone along with, fairly substantial economic sanctions against Russia.

Points of impact:

.....U.S. sanctions target the thumping heart of Russia’s economy...its energy sector.

.....a big deal in Europe because that’s where national energy champions like BP, Royal Dutch Shell, Total and Eni had plans to do joint ventures in the Arctic with the Russian energy giants Gazprom and Rosneft

.....the EU is now (supposedly) considering retaliatory sanctions of its own against these United States.

That is (supposedly) a nightmare scenario for America and for the U.S. dollar in particular.

Yes, this all could be yet another publicity scare tactic to get you to buy their advice.

Paper money still held with contempt in England into the 1600's, is now everywhere and...backed by nothing tangible or 'saleable.'

And here's why I am not scared. Recall SPDR's (Special Dev. Rights) a new 'currency' issued by the IMF ? It got zero traction in replacing the dollar.

China becoming a very large trading partner...backed the coup in Zimbabwe and wanted Mugabe's VP not [his] wife.

Once over, Zimbabwe announced using the Chinese Yuan for their national currency. (after printing $1 trillion notes for a loaf of bread) What do the Zimbabweans still use ? The US dollar. Confidence.

So why the dollar ? Ask yourself if you are in finances and in trade or just wanting some paper money to spend. what paper is that ? It is the US dollar. Why ?

Because of confidence.

.....confidence in [it] being a stable store of wealth.

.....confidence that anybody will take it in exchange to goods and services, anywhere.

.....confidence in sovereign (govt.) wealth funds that [it] is the strongest, most reliable reserve currency. (store of wealth)

What say all of you crypto, digitari, forex and financial experts out here say ? Will anything supplant the US dollar ?

Oh and trust me, the EU does not want to sanction against the US. If it is all that important, companies will joint venture around existing sanctions against Russia.

Remember food for oil ? That was cover for many western profiteers. All they have to do is make it seem politically uncomfortable. Maybe rile up the public. Call on Trump to ease off.

HERE

_____________________________

You can be a murderous tyrant and the world will remember you fondly but fuck one horse and you will be a horse fucker for all eternity. Catherine the Great

Under capitalism, man exploits man. Under communism, it's just the opposite.
J K Galbraith

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RE: I don't see this coming...not for a long time. - 1/5/2018 4:12:23 PM

MercTech

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Joined: 7/4/2006
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quote:

U.S. sanctions target the thumping heart of Russia’s economy...its energy sector.

Meanwhile, the EU makes Russian facility the main repository for nuclear fuel to guarantee power generation capability with no interruptions.

http://www.world-nuclear-news.org/UF-Fuel-bank-site-inaugurated-2908171.html

(in reply to MrRodgers)

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RE: I don't see this coming...not for a long time. - 1/5/2018 4:29:47 PM

MrRodgers

Posts: 10540
Joined: 7/30/2005
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quote:

ORIGINAL: MercTech

quote:

U.S. sanctions target the thumping heart of Russia’s economy...its energy sector.

Meanwhile, the EU makes Russian facility the main repository for nuclear fuel to guarantee power generation capability with no interruptions.

http://www.world-nuclear-news.org/UF-Fuel-bank-site-inaugurated-2908171.html

Yea, all except that it's Kazakhstan and - the project has been funded by donations since being kick-started by American businessman Warren Buffet who pledged $50 million through the Nuclear Threat Initiative in September 2006, conditional on nations providing a further $100 million and the IAEA taking the necessary actions to approve the establishment of the reserve.

And - the financial commitment target was met in March 2009 when Kuwait agreed to contribute $10 million to the project in addition to the US pledging $50 million, the European Union committing $32 million, the United Arab Emirates contributing $10 million and Norway committing $5 million.

And last but not least...is owned and managed by the IAEA.

_____________________________

You can be a murderous tyrant and the world will remember you fondly but fuck one horse and you will be a horse fucker for all eternity. Catherine the Great

Under capitalism, man exploits man. Under communism, it's just the opposite.
J K Galbraith

(in reply to MercTech)

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RE: I don't see this coming...not for a long time. - 1/5/2018 5:39:06 PM

MrRodgers

Posts: 10540
Joined: 7/30/2005
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Oh and BTW, having conceded that paper money is not 'backed up' by anything and I am not so sure any need any backing.....

.....the US dollar is 'backed up' by confidence which also means confidence in the American labor workforce.

That statement must now be true beyond all doubt as there is no fucking gold...or silver. It is in the enhanced value in products and the labor needed for finished products and in services, that backs up the US dollar.

As long as the world still remains confident in the US labor force, the dollar will remain the world's reserve currency.

_____________________________

You can be a murderous tyrant and the world will remember you fondly but fuck one horse and you will be a horse fucker for all eternity. Catherine the Great

Under capitalism, man exploits man. Under communism, it's just the opposite.
J K Galbraith

(in reply to MrRodgers)

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