Iran Just DUMPED THE DOLLAR! Remember What Happened the Last Time a Country Did That?
Add it to the list! Yet another country has officially sworn itself off of the U.S. dollar for good. The last couple instances of this action from other countries resulted in almost immediate permanent repercussions. In this case here we need to be very concerned as to how this will unfold.
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Sources Used in This Video:
https://goo.gl/UpprQe
Iran bans use of US dollar in trade — RT Business News
https://www.rt.com/business/420197-iran-farewell-us-dollar/
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Alan Greenspan: 'We are in a bond market bubble'
https://www.cnbc.com/2018/03/01/ex-fed-chair-greenspan-we-are-in-a-bond-market-bubble.html
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The CURRENCY WAR continues!
What do you think of countries moving away from the US dollar and how this will change the current system over the next decade?
It's not good since those countries also have the commodities we need or should be accumulating (gold, oil, etc).
I'd say that currency war is about to morph into a trade war (with the currency war ongoing within it) with Trump's introduction of these tariffs. I think we'll see more tariffs and more corporate tax reforms taking place globally e.g. Australia is trying to drop its corporate tax rate in response to the US doing so.
thanks for this! resteemed!
I can't see the US being able to do much with Iran. They have the backing of China and Russia. It may be that they use Israel as their proxy, but even Israel would be put in a very precarious position if they attacked Iran. I think they should all just calm down and get along personally. Most average people are fed up and exhausted with this perpetual cycle of war. It's time for global peace.
Russia, Iran, china and others have positioned themselves and pushed the US into a corner so that this can happen. There is no way we could outright attack Iran now without the UN taking action. Remember not to long ago, Trump blasted the UN? The US is being put in its place and there is not much the US gov can do about it. Hence the extreme buy-back of treasuries by the FED. The US used to be able to just pressure countries into accepting and bowing to its hegemony, this is no longer the case.
They're going to crash it. We're going to see what Venezuela is seeing. China just recently introduced the Petro Yuan. Now there IS competition on the global market against the Petro dollar and this has NEVER happened before. American government hasn't been winning hearts and minds of foreign countries, so as soon as it's feasible to dump the Petro dollar, many likely will. That floods the world markets with tons and tons of Dollars, causing hyper inflation. It could happen over night too...like literally.
If they do go to NIRP won't that send the markets even higher? Then if the eurozone unraveling progresses this year, it will make investors run back to the dollar. All the fundamentals point to collapse but they just keep chugging along with these BS policies. Great video!
Get some Swiss Franks, PayPal has higher fees, but it's easy to exchange your funds to most currencies.
One might argue that much more is spent on US defense spending (including the salaries of government workers who created, use and/or maintain objects with said US defense spending) then 500 billion stated in your spending growth graph.
It's probably more like trillions and I think I can prove it but idk:"The Office of the Assistant Secretary of the Army (Financial Management & Comptroller) (OASA[FM&C]) and the Defense Finance and Accounting Service Indianapolis (DFAS Indianapolis) did not adequately support $2.8 trillion in third quarter journal voucher (JV) adjustments and $6.5 trillion in yearend JV adjustments1 made to AGF data during FY 2015 financial statement compilation.2" http://www.dodig.mil/reports.html/Article/1119298/army-general-fund-adjustments-not-adequately-documented-or-supported/
Agree it is more but I'm sure @themoneygps only wants to use numbers reported to be as fair as possible. There is so much money not recorded in defense spending that it is ridiculous. I still do not see any angle how America stays strong financially over the lifetime of my son. :(
this is not new
I lived in the industrial Midwest for decades , and I have seen every company from Zenith , to Fisher body (a GM supplier) come and go . It was its golden years . America is going to have to do some serious re-tooling to get back in the game . Good luck .