Petrodollars

[Xavier_Onassis]

http://dr1.com/forums/off-topic/146742-they-hate-us-our-freedom.html

[Plane]

That link is asking me to join something?

[Xavier_Onassis]

Sorry, that is the address to another forum.

Here is the original
https://www.youtube.com/watch?v=8T9ICWOYCNQ

I am not sure everything he says is accurate with regard to,predictions, but much of it is.

[Plane]

That map is carelessly made it could have more dots ,and there are a few dots it shouldn't have.

The Social Security System costs more than all of the bases put together.

There is not a real rule against buying oil with any currency or barter , but you have to have something that the seller wants , dollars work well in spite of some disadvantage.

Yuan are probably a good choice for oil sellers  that have other business with China and can buy Chinese product and services , if China is willing to print the Cash and the oil seller has use for it , why not?

This guy seems sort of alarmist, if our Dollars return to the same role in the world that they had in the 60's I think we can adapt. A period of high inflation would be very bad for the holders of debt denominated in Dollars, not the government nor the wage earner.

Oil is one of the very important international trading commodities, but it is not the only one , nor the biggest one.

The US biggest export is the same now as it was in 1700, agricultural products. In 1700 everyone wanted the Spanish coin.

[Xavier_Onassis]

Social Security benefits the people of this country, a zillion bases scattered all over the place do not. Money spent on SS is mostly spent in this country and there is a multiplier effect. Much of the money spent on bases is pissed away into other economies, some of them harmful to this country.

The interests of Big Oil and the interests of the citizens of this country are not always the same.

[Plane]

  Big oil does not care about the USA as much as it cares about the Dollar.

  After all the biggest one of them is Chinese and the number two is European.

[Xavier_Onassis]

I find it humorous when I hear politicians say that WE are petroleum independent.

Who the eff is WE? Certainly not the citizens of the US. Big Oil does not belong to them, You can buy shares in these companies, but the shareholders do not normally benefit much from higher oil prices.

The guys who are on the  interlocking directorates of the oil companies, the tanker companies, the pipeline companies and the electric companies and others get nearly all of the benefits. They are just as bad or worse than the Saudi Royals.