Preparing for the Collapse of the Petrodollar System

[steyr_m]

I don't know how to post in-line; but this is an excellent read....

http://ftmdaily.com/preparing-for-the-collapse-of-the-petrodollar-system/

[palani]

Coast 2 Coast last night reported a couple just returning from a trip to France. Reported seeing many signs asking that U.S. dollars not be used in trade.

[osoab]

I don't know how to post in-line; but this is an excellent read....

http://ftmdaily.com/preparing-for-the-collapse-of-the-petrodollar-system/

I haven't got through the whole thing yet, but I take issue with the below statement in the article.

Governments can also fund through tariffs on imports.

Calling a cut in spending as a way to finance the government seems odd to me.
If they were not spending, they wouldn't need the financing.


Remember, governments can only finance their spending in four basic ways:
1. Increase income by raising taxes the citizens
2. Cut spending by reducing benefits
3. Borrow money through the issuance of government bonds
4. Print money

[dys]

I strongly disagree with the following:


Remember, governments can only finance their spending in four basic ways:

1. Increase income by raising taxes the citizens

2. Cut spending by reducing benefits

3. Borrow money through the issuance of government bonds

4. Print money


The other way government can finance their spending is through investment income. If you look at the Comprehensive Annual Financial Reports of various government corporations/entities, it becomes readily apparent that government not only is NOT broke, they are filthy rich beyond the wildest dreams of us ordinary flesh and blood men and women.

dys

[Silver Rocket Bitches!]

Coast 2 Coast last night reported a couple just returning from a trip to France. Reported seeing many signs asking that U.S. dollars not be used in trade.

I remember before the 2008 collapse it was widely reported that India refused to accept US dollars. Then of course came the crash and the flight to safety where the dollar was perceived as king once again. Now we're back to the dollar being trash.

2272

[steyr_m]

I strongly disagree with the following:



The other way government can finance their spending is through investment income. If you look at the Comprehensive Annual Financial Reports of various government corporations/entities, it becomes readily apparent that government not only is NOT broke, they are filthy rich beyond the wildest dreams of us ordinary flesh and blood men and women.

dys

Yeah, I'm not saying this is the best ever article. I just think it was very good. He also didn't do a very good explanation on the reasonings for inflating the currency.....