Destruction of the US dollar

devil21 said:
My understanding is that the UAE already has but we know that the Saudi oil-dollar peg is basically the "official" petrodollar. The shipping disruptions in the Red Sea could spread across to the Strait of Hormuz. Media never mentions Houthis without included "Iran-backed" as a qualifier. If we start seeing reports of the Strait of Hormuz/Persian Gulf having similar issues to Red Sea shipping, it's conceivable that both are shut down, blockaded, embargoed, whatever term we want to use. The shutting of the Straits has long been rumored to be the SHTF moment of the petrodollar and the event that shuts it all down, at least in a reset narrative sense..


(sidenote: I sometimes wonder if the Saudi war on Yemen and the Houthis hasn't actually resulted in the "Houthis" becoming just another controlled opposition operation, repurposed for this exact time and scenario.).
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Happenin'

Iran seizes cargo ship near Strait of Hormuz
https://www.cnn.com/2024/04/13/middleeast/iran-navy-container-ship-israel-intl/index.html

Iran’s Revolutionary Guards seized a an Israeli-linked container ship in a helicopter operation near the Strait of Hormuz, state news agency IRNA reported, with tensions already high after Iran warned it would retaliate for a suspected Israeli strike on its consulate in Syria.

IRNA reported that the Iran’s Revolutionary Guard Corps (IRGC) Navy seized the Portuguese-flagged MSC Aries, which is now being “directed back to Iranian territorial waters.”

According to IRNA, the vessel is managed by the Zodiac Maritime, a company linked to Israeli businessman Eyal Ofer.

Mediterranean Shipping Company (MSC) has confirmed the seizure, saying there are 25 crew on board. Portugal’s government said that it was in touch with the Iranian authorities.

The Strait of Hormuz, at the northern end of the Gulf of Oman, is the biggest oil chokepoint in the world. About 20% of the world’s daily consumption of oil passes through it every day.

Iran has carried out similar seizures before. In January, Tehran seized an oil tanker in the Gulf of Oman and transferred it to an Iranian port in response to the United States confiscating the same vessel and its oil last year.

Tensions in the region are heightened after the strike on Iran’s consulate in the Syrian capital Damascus, which killed seven officials including a top IRGC commander, and the seizure comes against the backdrop of the conflict in Gaza.

The Iran-backed Houthi rebels in Yemen have frequently been targeting shipping in the Red Sea area, while there have been regular exchanges between Hezbollah and Israel along Lebanon’s southern border. moreifclick
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U.S. Dollar was used in 48% of international payment transactions last year, the highest level in more than a decade. But Brics...

GLKzfd8WgAAzdie.jpg


https://twitter.com/Barchart/status/1779682501402759191
 
Swordsmyth said:
U.S. Dollar was used in 48% of international payment transactions last year, the highest level in more than a decade.
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Of course there's a spike in the dollar being used in international "transactions", person who incredulously calls other people idiots. Your beloved Republican Saviors in the House, following their own Johnson, are giving trillions to other countries. What makes you think that's not considered an international transaction?
 
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acptulsa said:
Of course there's a spike in the dollar being used in international "transactions", person who incredulously calls other people idiots. Your beloved Republican Saviors in the House, following their own Johnson, are giving trillions to other countries. What makes you think that's not considered an international transaction?
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Me: [posts facts relevant to the topic of the thread]
You: [rants about things I didn't say]
 
acptulsa said:
Me: Yawn.
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I thought your counterpoint was plain and clear, as to a reason why dollar unit use is up. Rising DXY has shown it lately. DXY is merely a measure of supply and demand of a currency. What the chart doesn't account for is that gold is shooting up in tandem with the dollar, which is usually an inverse relationship. So what does Sowdry's chart, along with DXY rising -and- gold rising tell us? It tells us that a dwindling supply of dollars are being used to buy hard assets around the world. Aka dollar dumping.
 
I have no personal knowledge of whether this is true or not but thought it interesting. A claim that the Saudi oil-dollar peg (petrodollar) agreement sunsets officially on 6-9.
https://x.com/summ116/status/1796618863599370263

According to Nixon's daily schedule, a whole bunch of OPEC types and other bigwigs were at the White House on 6-6-74, then days later he (with Henry Kissinger by his side every step) went to Saudi Arabia. The timing certainly lines up if it were a 50 year agreement.
https://www.nixonlibrary.gov/sites/...ary/documents/PDD/1974/125 June 1-15 1974.pdf


Saudi Aramco is making a public share offering around the same time
https://www.argaam.com/en/article/articledetail/id/1731948
 
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Brent crude 81.6 , one yr forecast 90 , West Texas lite sweet crude 78.62. Seems like a bargain if you consider oil was 32.56 in yr 2000 , national debt was 5 trillion ( about 34.8 now), new median ome was 164k (412k now) number in US work force about same , GDP avg was about 1.9 from 2000 to 2023, median income went 31k to 39k
 
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devil21 said:
I have no personal knowledge of whether this is true or not but thought it interesting. A claim that the Saudi oil-dollar peg (petrodollar) agreement sunsets officially on 6-9.
https://x.com/summ116/status/1796618863599370263

According to Nixon's daily schedule, a whole bunch of OPEC types and other bigwigs were at the White House on 6-6-74, then days later he (with Henry Kissinger by his side every step) went to Saudi Arabia. The timing certainly lines up if it were a 50 year agreement.
https://www.nixonlibrary.gov/sites/...ary/documents/PDD/1974/125 June 1-15 1974.pdf


Saudi Aramco is making a public share offering around the same time
https://www.argaam.com/en/article/articledetail/id/1731948
Click to expand...


360_F_67245954_ejVa8C414CwJ9X0UadIFu1QEUjeLuFnO.jpg


 
devil21 said:
I have no personal knowledge of whether this is true or not but thought it interesting. A claim that the Saudi oil-dollar peg (petrodollar) agreement sunsets officially on 6-9.
https://x.com/summ116/status/1796618863599370263

According to Nixon's daily schedule, a whole bunch of OPEC types and other bigwigs were at the White House on 6-6-74, then days later he (with Henry Kissinger by his side every step) went to Saudi Arabia. The timing certainly lines up if it were a 50 year agreement.
https://www.nixonlibrary.gov/sites/...ary/documents/PDD/1974/125 June 1-15 1974.pdf


Saudi Aramco is making a public share offering around the same time
https://www.argaam.com/en/article/articledetail/id/1731948
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Posted over on ZH: NYT archive of the news of the petrodollar agreement signing at the WH which lines up perfectly with the Nixon schedule above.

https://www.nytimes.com/1974/06/09/...gned-by-us-and-saudi-arabia-acclaimed-by.html

Notice that this all took place during the waning days of Watergate and the last days of Nixon's presidency. Circus for the sheeple to fill up airtime while the serious business took place? 2 months later Nixon exited stage left "in disgrace".

Has that theatrical playbook really changed at all since then?
 
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Nothing will happen suddenly. KSA is playing USA and BRICS against each other to extract as much leverage from each as it can.

The Biden administration is close to finalizing a treaty with Saudi Arabia that would commit the U.S. to help defend the Gulf nation as part of a deal aimed at encouraging diplomatic ties between Riyadh and Israel, the Wall Street Journal reported on Sunday, citing U.S. and Saudi officials.
...
Approval of the treaty, which the WSJ said would be known as the Strategic Alliance Agreement, would require a two-thirds majority vote in the U.S. Senate, a threshold that would be difficult to achieve unless the treaty were tied to Israeli-Saudi normalization.

The draft treaty is modeled loosely on Washington's mutual security pact with Japan, the newspaper cited U.S. and Saudi officials as saying.

In exchange for the U.S. commitment to help defend Saudi Arabia if it were attacked, the draft treaty would grant Washington access to Saudi territory and airspace to protect U.S. interests and regional partners, the newspaper reported.

It is also intended to bind Riyadh closer to Washington by prohibiting China from building bases in the kingdom or pursuing security cooperation with Riyadh, the WSJ quoted officials as saying.
...
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https://www.msn.com/en-us/news/worl...draft-security-treaty-wsj-reports/ar-BB1nUvgl

... and keep the petrodollar trade in place ...
 
Bern said:
Nothing will happen suddenly. KSA is playing USA and BRICS against each other to extract as much leverage from each as it can.



https://www.msn.com/en-us/news/worl...draft-security-treaty-wsj-reports/ar-BB1nUvgl

... and keep the petrodollar trade in place ...
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Where is the bolded part even so much as hinted at in the article? Treaties are all well and good but nothing in the article suggests a continuation of the petrodollar standard, which is more or less the linchpin of this whole thread.

Also, I question the timing of the article since it's released right after the 6/9 stuff has started spreading. I'd appreciate posting some evidence that the treaty has been in the works for a while so that the article posted can't possibly be dismissed as merely damage control/diversion.
 
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