I agree. USA debt is ridiculous. But the US is not in danger of defaulting. Russia is. No one is looking to wage economic war against the US. (At the moment.) One is being waged against Russia.
Russia Is Spiraling Toward a $150 Billion Default Nightmare
(Bloomberg) -- Russia’s economy is fraying, its currency has collapsed, and its debt is junk. Next up is a potential default that could cost investors billions and shut the country out of most funding markets.Most Read from BloombergUkraine Update: China Seeks to Avoid Russia Sanctions...finance.yahoo.com
Debt and currency solvency issues are always a tricky thing to be sure the can sweep a nation off it feet in a thirty day cycle.
My only point. There is more than one way to wage economic war, which is my real security and preparedness concern. Many in West believe waging economic war is by proclamations, world trade decisions, etc., and I believe there are other very serious threats out there. The other shoe not dropping does not mean it cannot drop.
With respect, I totally disagree. We watch as US-HQ'd cyber hacker groups attack banks and stock market of Russia, and many "root" for them (understandably), the USA and West believe they are invulnerable to retribution, and believe the main threat to USA are routine issues like inflation.
I do see this having an effect that not many may see, in which this may call into question solvency of the rest of the financial system, setting off a domino effect that may ripple throughout the rest of the world. I am coming from the prospective that economic recessions are required for a healthy economic system, even depressions are healthy, even if they do suck. I have suspected that the stock market at this point has stopped being a sign of a healthy economy for a while, I mean I feel that it cannot continue to go up forever and that something has to give. This video outlines what I think of our current economic state for the most part, in that it is unsustainable in the long term:Russia Is Spiraling Toward a $150 Billion Default Nightmare
(Bloomberg) -- Russia’s economy is fraying, its currency has collapsed, and its debt is junk. Next up is a potential default that could cost investors billions and shut the country out of most funding markets.Most Read from BloombergUkraine Update: China Seeks to Avoid Russia Sanctions...
If the petro dollar is lost and Saudi Arabia chooses the Juan or however it's spelled, The US will be in the same boat as Russia in a heartbeat. Besides, the ruble is once again gaining value, slowly but surely. Today's currency converter was $1=89 ruble. Remember, just a few days ago, it was $1=130 ruble.
You seriously must be joking. Can you tell me the biggest 2 exporters are of Saudi oil? Its China & India. Can tell you US at the bottom of the list in volume of Saudi oil trade.
True --- BUT all the trading is done in US dollars and it has been since Nixon put us on the petro dollar back in the 70's. And, currently, since Biden shut down the pipelines, we currently import 40% of our oil from Saudi Arabia.
No... America gets most its oil from it's own self, South America & Canada. Where do you live?
No their the two of the largest importers of Saudi oil
tradingeconomics.com
don't you realize that when Biden stopped the fracking, drilling and the pipeline that we now have to import oil again?? When Trump was president, we were exporting oil. We had surpluses.
Please check things before you just blurt out numbers...
I used to agree with you on the petrol dollar relationship. But I’m not so sure anymore.
www.usfunds.com
I don't tolerate misinformation. Oil and gas is high for many reasons most particularly from Russia & the EU energy crisis which is spilling over here. The pipeline isn't the real reason or the pressing problem in the energy market.
At the moment to be honest they do not seem to be helping either so
By that I mean I won't sit by and not point out the flaws in your assumptions about geo-economics. You cannot just blame biden for a GLOBAL energy crisis. You want to blame someone for high ass gas prices blame Mr. Poopin.
Now, I don't trade at all, but I do look on the finance sections just to try to get an indicator of what's going on--nothing more. But just in the past few days, Gold exceeded over 2 grand an ounce--Currently 3/16/22 at 22:25, gold had lost over $70 an ounce.I used to agree with you on the petrol dollar relationship. But I’m not so sure anymore.
Sure the Yuan can link to petroleum but their economy is in as bad a debt situation as ours. I think worse.
As far as gold reserves it’s still not an issue.
Granted how do we know what the gold reserves the us actually has. That’s true but it’s also true for every other nation.
Russia can probably prop their currency a little better with Gold than the US might but as far as scale Russia and China are 5th and 6th after Germany Italy and France.
The four richest countries in terms of trade, gold, and high tech output are all in nato.
View attachment 1874Top 10 Countries with Largest Gold Reserves | USGI
Beginning in 2010, central banks around the world turned from being net sellers of gold to net buyers of gold. Central banks around the world bought 272.9 tonnes of bullion in 2020.
It is "a" reason. Not "the" reason. There are many reasons.
