The death of the petrodollar is the death of the American economy. With our massive, unpayable debt we are forced to continue printing money like crazy, along with Europe and Japan, just to stay afloat.
This could go on for some time if everyone continues to print together, however, if the U.S. dollar ceases to be the world’s reserve currency it’s game over.
Unfortunately, countries began trading out of our dollar for some time, especially China. Now, a huge spike has been driven into the heart of our dying economy as Russia has just pulled itself out of the petrodollar.
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I do agree the dollar will eventually fall like all world reserve currencies do, but that could be another 20 years. We also have to keep in mind the dollar is the most valuable it’s been in 10 years or so. In fact, it may be may gas and gold are on sale right now.
Russia is the: Wealthiest County on this Planet…Their Mineral, Ore, as well as Oil and Gas reserves make this a, undeniable fact.. Their citizen have not had Idiots running their financial situations and banks, thus they are not in debt.
Russia is just one big GIANT DETROIT !
But most most of their people are poor,even Mali and Niegeria are very rich in resources like gold and diamonds also oil but their people have to beg for a cup of clean water.
Since the gas sales to Europe and the oil developments have started to pay off, this is not longer true Marco. There is a new dawn in Russia. When the pipe line to China is complete, they will have major control over a sizeable portion of the worlds energy supply. The sanctions are only a minor inconveniences.
The Ukraine is only the final peace of the puzzle for Putin. His holdings, ergo his power will be: World controlling..
With no unions
We’re on the verge of econimic collapse , hide and watch…
Correct ! The only real threat they are is the stockpile of nukes they probably would sell to the highest bidder if worst comes to potential collapse….
This doesn’t look good. I’m no economist, but we need to stop printing money. Every dollar you print out of nothing reduces the value of all dollars already out in the economy.