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Just to set the record straight.

Just to set the record straight.

(post is archived)

[–] • 2 pts

First of all if someone is spewing false information and they actually believe that false information it's not lying. Lying is intentionally spewing false information.

Now I could be wrong but, I think what you are saying is completely wrong , but for arguments sake:

1 Are you saying that federal reserve notes are only printed in a specific set ratio to the amount of oil produced?

2 Oil produced in the us, or oil produced somewhere else?

3 any idea what that ratio might be.

[–] • 2 pts (edited )

Since the 70's Saudi Arabia had an agreement to only sell oil in US Dollars. It's called the "Petrodollar" and is the reason our US Dollar has been supported by the world this entire time.

A couple weeks ago Saudi Arabia signed a new military agreement with Russia. Just another moment of evidence that the Dollar is DEAD.

Check out BRICS, China's oil trade notes, Russia's Nord Stream 2 project and Germany, the Belt and Road initiative - our media doesn't cover any of this shit.

[–] • 2 pts (edited )

Yes the federal reserve note is "tied" to oil in international markets, calling it the Petro dollar, but the actual currency issued is issued with interest, thus it represents a debt. It has no real intrisic value.

When the federal reserve does a "quantitative easing" or "stimulation" of trillions of notes, they are not issuing those respective to any amount of oil available.

I believe they have done the quantitative easing scam about 5 or 6 times so far. Quantitative easing or stimulation basically means "dollar devaluation". That's why gold is like $1700 now.

Gold in the year 1800 was like 19.39/oz then in 1913 (The first 100 year charter of the federal reserve was signed) it was somthin like 19.94/oz Then in 1972ish nixon took us off the gold standard completely and that is where the hockey stick graph comes in to $1700/oz

Following Other stable commodities can show the trend of devaluation. Ex:

A nice suit (I'm talking a nice rock star suit) in year 1800 cost about $19.39ish or an oz of gold.

A nice suit (I'm talking a nice rock star suit) now costs about $1700 or an oz of gold.

See gold is not expensive the value of the "dollar" is just devalued. This happens with all "fiat" (currency backed by nothing) currencies. This is the same as the German Papiermark durring the weimar republic in the 1920s, or the Zimbabwe notes now.

https://capital-com.cdn.ampproject.org/i/s/capital.com/files/imgs/articles/750xx/[Infographics]%20Gold%20price%20history%20.png

[–] • 2 pts

https://en.wikipedia.org/wiki/Bretton_Woods_system

You got it, under Bretton Woods the US dollar was no longer backed by gold. It was instead made into the international monetary unit every participant country must use to purchase oil on the global market.

Making it the global reserve currency, it allowed the fed to offshore the inflation of money printing to the rest of the world and obfuscate the constant degradation of the value of the dollar and it kept the US economy in a bit of a bubble. Those chickens are coming home to roost.

[–] • 3 pts

Yes we are doomed. We have next to no industrial base to fall back on either. With rampant anti American immigration to top it off.

https://pbs.twimg.com/media/EY7ZxdaXgAAh41M.jpg

[–] • 3 pts

I suspect we'll be seeing pissrael expanding its borders immensely in the near future. But I also suspect we'll be too busy having machete fights over cans of dog food to notice.

[–] [deleted] • 1 pt

It literally wasn't you stupid cunt. The only oil the fed's have is the strategic reserve. If you want to say something about federal land and assumed oil there, that's not how the financial world works. If this your autistic way of bring up the petro dollar, that's just oil contracts settled in dollars. Which has been falling for the past decade. Your money is WORSE than toilet paper because at least with toilet paper, you can wipe biden's arse. Our money is DEBT. It's loaned into existence.