Weekend reading on oil, the dollar and petrodollar decline
Tom KirkmanIndependent Project Manager
Some good weekend reading about oil & gas, U.S. dollar, and gold.
U.S. sanctions are actively undermining the global reign of the petrodollar. This is a self-inflicted foot bullet.
Piling on ever more sanctions will simply speed up the decline of the petrodollar.
Astute observations about the global importance of oil & gas, and notes on how unwinding the dollar from oil & gas will lead to significant repercussions.
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“Russia and China’s gold could form the foundation of a new monetary system outside of the control of the US. Such moves would be the final nail in the coffin of dollar dominance.
Five recent developments are a giant flashing red sign that something big could be imminent.
Warning Sign #1: Russia Sanctions Prove Dollar Reserves “Aren’t Really Money”
… Warning Sign #2: Rubles, Gold, and Bitcoin for Gas, Oil, and Other Commodities
… Warning Sign #3: The Petrodollar System Flirts With Collapse
… Warning Sign #4: Out of Control Money Printing and Record Price Increases
… Warning Sign #5: Fed Chair Admits Dollar Supremacy Is Dead
“It’s possible to have more than one reserve currency.”
These are the recent words of Jerome Powell, the Chairman of the Federal Reserve.
It’s a stunning admission from the one person who has the most control over the US dollar, the current world reserve currency.
It would be as ridiculous as Mike Tyson saying that it’s possible to have more than one heavyweight champion. …”