How long until the petrodollar system collapses?
> Low Oil prices are pressuring Saudi Arabia and other nations to un-peg from dollar
> U.S will never pay back it's debt, which leaves only two options. (Default or Devalue the currency.) Both of which will destroy the dollar.
> Russia is in cohorts with China to create a new Eastern currency to bring financial power away from the dollar to a new gold backed currency
> Central banks and big banks around the world are scrambling to gather as much gold as they can. Libya wasn't destroyed because of terrorists. hint: It had to do with Gold and Oil
> Once the petrodollar system kicks the bucket and the dollar loses its status as the world’s premier reserve currency, you will have few, if any, options to protect yourself.
What will you do?
If you put $100 in a 5% APR municipal bond it would be worth $13150.13 in 2013 or $558.84 in 1913 dollars.
Is inflation an evil conspiracy to make you put your money in the bank and invest it? Maybe. However currencies are either going to inflate or deflate due to natural changes in prices, it is better if currencies have a low level of inflation for 2 reasons.
1: To prevent it from constantly shifting between positive and negative inflation allowing businesses and individuals to make more efficient economic calculations.
2: It is easier to inflate a currency than it is to deflate a currency.
>This fucking chart
>This chart makes the great depression look like a "good" time for the dollar.
>It's really just inflation statistics arranged into a scary looking graph
> Russia is in cohorts with China to create a new Eastern currency to bring financial power away from the dollar to a new gold backed currency.
The biggest hit for Russia came from China not buying Russian bonds issued to compensate the losses due to European sanctions a.k.a "Vlad you need to chill, we're senpai, but don't push it, or you're on your own."
China has the world's biggest reserve of $, and actively works at maintaining the level of said $, because it depends on American markets WAY more than Russian markets.
Also,this graph has Down syndrome.
The US can never go insolvent and can always pay back its debt
Russia and China are slowly collapsing
You can't create gold with the click of a button
USA is stronger globally today than it was in 08 and the USD ain't going anywhere any time soon, unless republicans take control and intentionally cause a default on the debt for political reasons
>> U.S will never pay back it's debt, which leaves only two options. (Default or Devalue the currency.) Both of which will destroy the dollar.
It's like you retards don't even read what you write. Reread this and see if it makes sense.
People should really take basic econ courses before they comment on issues of debt.
>Every single country has massive debt.
> Who the fuck is going to collect from the strongest military in the world?
No one is going to collect it by force, but by abandoning the dollar as the reserve currency which will make it useless and anyone who has it bankrupt.
>abandoning the dollar as the reserve currency will make it useless
>make it useless
>and anyone who has it bankrupt
Holy fuck I love this board. You can't get this type of comedy gold anywhere else.
US is still the safest bet. We can devalue the dollar as interest rates rise by releasing more of the QE money from banks and its an even tradeoff since everyone would still rather buy our bonds than russias or chinas.
That would be cool if China or Russia has a real economy to stand on. Don't BS me about China, they are in complete shambles and it is not going to get better for them any time soon. Russia has no economy at all on a global scale. It is the equivalent to Ohio.
>almost every country
I am so happy I dont live in a country that is allied with the imperialist scum of the USA or does any major trade with US terrorists.
Enjoy your economic collapse suckers!