It is really interesting that the folks running the show in the USA are able to export a lot of the problems with the $ to the rest of the world. Caribbean nations know this first hand, and have given in to the peg.
I worked in oil, and now work in an industry where I sell parts worldwide. I'm not a trained economist, but deal with currency and transfer pricing with labor and goods.
Couple things: what a lot of people don't know or understand is that pretty much all transactions worldwide are intermediate by USD. Meaning, if a company in Sweden wants to buy something in Cameroon, the banks don't swap currency. They buy dollars with krona and then buy francs with the dollar.
This may seem "academic" on paper, but the world essentially has to deal with the dollar and the USA fed and its people with every transaction countries do! They're getting taxes each time they want to trade. Switzerland has purposely devalued its currency because the opposite happened: people were buying Swiss francs as a "safe" investment and not trading or circulating them. I digress ...
The only country I see that could actually disrupt the petro dollar is Russia. Russia is doing this on a small scale by forcing Europe to purchase energy in rubbles. Ghana? They may be seeing a three letter agency from the USA very soon ...
China? They do too much contract manufacturing for America, and no one wants yen or a currency from a dictatorship. Europe? Too much debt, and they would have to centralize spending (trying to do this with EU commission).
Ghana? They may be seeing a three letter agency from the USA very soon
This is sad precisely because it's so true. I wish poor countries were free to make trades on terms that were more fair. But that's not the world we live in.
In any case, I applaud Ghana for trying.
I really do wish them luck, but I'd advise them to ready their internal security services. (I suspect there will be a lot of unrest there in the very near future.) And I'd also advise beefing up the quality of their healthcare facilities. Because I think they may see a rise in cancer diagnoses among leaders in their steward classes over the next few years.
I'm kind of confused by his comment. Isn't it common knowledge (and even admitted) that American three letter agencies protect their interests at almost full cost?
The fbi had plans to assassinate MLK, and the cia led how many revolutions.
You can see that because you’re knee deep in conspiracy theories. I’m not in denial I’m just informed on foreign policy and know that these agencies don’t just overthrow governments because they make financial decisions like this. That’s an ignorant meme that lacks any real analysis of foreign policy.
It's just history(i.e [1] )not conspiracy theories. We are past that. Same thing about surveillance. It used to be "conspiracy theories" but wikileaks and Snowden showed us that the truth is even worse.
How about “America invades nation because it moves away from the dollar” is a complete bunk conspiracy theory and I was calling it out. It has 0 basis in reality and is peddled by anti-America types.
It’s common knowledge to the unknowledgeable, which was my point about credibility. it’s a meme and that’s it.
Not what I said. Petrodollar conspiracies are not that, plenty of nations move away from the dollar without “3 letter agencies” and only the uninformed are unaware of this.
1) Please keep this site as a place for discussion and throw information rather than insults.
2) A three letter agency seems believable to me. Do you remember what happened in Libya 2011? It is believed this was in a large part due to their planned move to an afro dollar.
You want me to keep it safe for discussion, while downvoting me for calling out easily disproved conspiracies?
I think your priorities are out of whack here. There’s lots of complaints about Us policy: that they overthrow nations to uphold the petrodollar is not one of them.
How about reading an actual analysis instead of continuing a meme that was never true
I worked in oil, and now work in an industry where I sell parts worldwide. I'm not a trained economist, but deal with currency and transfer pricing with labor and goods.
Couple things: what a lot of people don't know or understand is that pretty much all transactions worldwide are intermediate by USD. Meaning, if a company in Sweden wants to buy something in Cameroon, the banks don't swap currency. They buy dollars with krona and then buy francs with the dollar.
This may seem "academic" on paper, but the world essentially has to deal with the dollar and the USA fed and its people with every transaction countries do! They're getting taxes each time they want to trade. Switzerland has purposely devalued its currency because the opposite happened: people were buying Swiss francs as a "safe" investment and not trading or circulating them. I digress ...
The only country I see that could actually disrupt the petro dollar is Russia. Russia is doing this on a small scale by forcing Europe to purchase energy in rubbles. Ghana? They may be seeing a three letter agency from the USA very soon ...
China? They do too much contract manufacturing for America, and no one wants yen or a currency from a dictatorship. Europe? Too much debt, and they would have to centralize spending (trying to do this with EU commission).