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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well OK if we can’t Impeach him then put him on trial for Treason that might scare him
Soooo, nobody’s talking about BRICS and the New Development Bank here? Russia’s gonna be just fine… They won’t be the only one leaving the petro dollar and there’s nothing the US can do about it except start WW3
If you mean Obama, you’re right. But if yoo mean Putin, don’t count on it.
Spot on Barbara!!
Another round of golf in Hawaii.
It certainly would be, Steve – for both sides.
Becky, some folks just can’t get their head around the fact that Bush is not in the White House and hasn’t been for over six years. Emperor Obama owns everything now.
Somebody slap Dan up side his head and wake him up!
Larry, has Fox News ever said anything that was not true?
The Japanese considers Obama an “untrustworthy clown”. And believe me, that title is much more derogatory to the Japanese than it is to Americans.