This article was written by Michael Snyder and originally published at his Economic Collapse blog.
Editor’s Comment: The demise of the dollar has been planned for some time, and Putin is happy to play his role in doing so and ushering in the new global era where a basket of currencies will replace the current petrodollar standard. That being said, Russia and China are engaged with the U.S. in a quiet but deadly economic war that may impact everyone involved. The Euro is quite vulnerable as well. Accusations of currency manipulation (and much more) have been flying for some time.
The recent stock market plunge coincides neatly with fresh moves against the dollar, and a de facto admission by the Federal Reserve that it’s game of QE3 is all but over. We are now entering into the phase of realignment that many have accumulated gold and silver, as well as other assets, to prepare for. Strap in, it could be a bumpy ride.
Russia Is Going To Pass A Law Formally Dumping The U.S. Dollar
by Michael Snyder
Russian President Vladimir Putin has introduced legislation that would deal a tremendous blow to the U.S. dollar. If Putin gets his way, and he almost certainly will, the U.S. dollar will be eliminated from trade between nations that belong to the Commonwealth of Independent States. In addition to Russia, that list of countries includes Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan and Uzbekistan. Obviously this would not mean “the death of the dollar”, but it would be a very significant step toward the end of the era of the absolute dominance of the U.S. dollar. Most people don’t realize this, but more U.S. dollars are actually used outside of the United States than are used inside this country. If the rest of the planet decides to stop accumulating dollars, using them to trade with one another, and loaning them back to us at ultra-low interest rates, we are going to be in for a world of hurt. Unfortunately for us, it is only a matter of time until that happens.
When I first read the following excerpt from a recent RT article, I was absolutely stunned…
Russian President Vladimir Putin has drafted a bill that aims to eliminate the US dollar and the euro from trade between CIS countries.
This means the creation of a single financial market between Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and other countries of the former Soviet Union.
“This would help expand the use of national currencies in foreign trade payments and financial services and thus create preconditions for greater liquidity of domestic currency markets”, said a statement from Kremlin.
For a long time, tensions have been building between the United States and Russia over Syria, Ukraine, the price of oil and a whole host of other issues. But I didn’t anticipate that things would get to this level quite yet. It is expected that Putin’s new bill will become law, and this is only one element of a much larger trend that is now developing.
You see, the truth is that Russia and China have both been dumping dollar-denominated assets for months. The following comes from a recent piece by Mac Slavo…
Last year Russia began unloading massive amounts of their US dollar reserves. In the month of December 2014 alone Putin sold some 20% of the country’s U.S. Treasurys, a move that further increased tensions surrounding what can only be described as economic warfare between East and West.
Then, as if part of a coordinated effort, this summer it was revealed that China had implemented a similar strategy, dumping half a trillion in dollar denominated assets.
But that’s just the beginning of the end for the US dollar. Amid a major meltdown in Chinese stock markets the People’s Republic sold off billions in dollar assets last week in what was reported to be an effort to stabilize their collapsing financial markets.
And now, as Russia’s economy collapses under the weight of American and European sanctions, including what many believe to be widespread downward manipulation of oil prices, Vladimir Putin is sending a clear signal to the central bank of the world’s reserve currency.
China has the second largest economy on the entire planet, and Russia has the tenth largest. In recent years, these two superpowers have become much tighter. For example, just consider this headline from Sputnik News that I came across just today: “Crippling US Foreign Policy Draws Russia, China Closer Together“.
And I don’t know if you have noticed, but U.S. relations with China have turned rather sour lately. Lots of accusations about spying and trade violations have been flying around, and just this week five Chinese warships were spotted off the coast of Alaska. In the months ahead, expect our relationship with China to continue to unravel.
If China and Russia were to both fundamentally reject the U.S. dollar at some point, much of the rest of the world may choose to follow suit.
So why is that important?
The fact that most of the nations of the world use our dollars to trade with one another creates a tremendous amount of artificial demand for our currency. In other words, the U.S. dollar is valued much higher than it otherwise would be just because it is the de facto reserve currency of the planet.
As a result, we can import massive amounts of products at super cheap prices. When we go to Wal-Mart or the dollar store, we can fill up our carts with lots and lots of ridiculously inexpensive stuff. Our standard of living is way higher than it actually should be.
And because the U.S. dollar is used so widely in global trade, major exporting nations end up with giant piles of our currency which they have been willing to lend back to us at ultra-low interest rates. This has made it possible to fund our massively bloated federal government and to go 18 trillion dollars in debt.
If the rest of the world stops using our dollars and stops playing our game, we will be in a tremendous amount of trouble. The cost of imported products would absolutely skyrocket and our standard of living would go way down.
In addition, the federal government (along with state and local governments) would have to pay much more to borrow money which would rapidly create a gigantic debt crisis.
So Russia knows where they could really hurt us. Most of the “power” that America currently projects around the world is based on having the de facto reserve currency of the planet. If you take our financial power away, we would be far, far less imposing on the global stage. Sadly, the truth is that the U.S. military is rapidly shrinking and has largely been defanged by the Obama administration.
A lot of people that will read this article will not understand this, but it is very, very important to keep an eye on this emerging Russian/Chinese alliance. I believe that it is going to play a critical role in world events during the years ahead.
Michael T. Snyder is a graduate of the University of Florida law school and he worked as an attorney in the heart of Washington D.C. for a number of years.
Today, Michael is best known for his work as the publisher of The Economic Collapse Blog and The American Dream.
If you want to know what things in America are going to look like in a few years read his new book The Beginning of the End.
didn’t we just cover this.
Good Luck Putin!!!!
Sgt.
No comment on that, Sarge.
But this: If China and Russia were to both fundamentally reject the U.S. dollar at some point, much of the rest of the world may choose to follow suit.
We are China’s number one customer. Fat chance they’re going to reject the dollar any time soon.
We give China worthless paper in exchange for real goods. They wouldn’t be losing much.
“Obviously this would not mean “the death of the dollar”, but it would be a very significant step toward the end of the era of the absolute dominance of the U.S. dollar.”
I call BULLSHIT Michael.
Once upon a time Russia, China, and ALL of the nations you mentioned did not use the dollar. It was not a problem for anyone then, and it will NOT be a problem for anyone now: especially US.
There is NOTHING significant about it. NOTHING. 🙂
“…the truth is that Russia and China have both been dumping dollar-denominated assets for months … Then, as if part of a coordinated effort, this summer it was revealed that China had implemented a similar strategy, dumping half a trillion in dollar denominated assets.”
TOTAL BS MICHAEL. TOTAL FUCKING BULLSHIT.
There was nothing COORDINATED about these two events. Both countries were FORCED to sell these financial assets to support their PLUMMETING currencies.
Russia due to sanctions imposed by the WEST; and China due to the deliberate destruction of the American Consumer by the FED to crush China’s export economy; because they had violated the AGREEMENT between the NWO and the CCP for too long: refusing to quit manipulating the Yuan, not allowing it to rise, failing to move to a consumer/service economy and become an engine of growth for the West and the rest of the world by virtue of their immense population.
The only thing that these two events have in common, is that they were the result of FED action and policy. Now the NWO will move excess world production to Mexico and Central America. There will be no one to buy Made in China in five years, or less, if we get that far down the road without declared war.
I am really disappointed in you, Michael, and you too Mac, for spinning these economic articles in a way that white washes the truth and the reality of what these events really represent and presenting them as dominos in the “death of the dollar”.
That is shear communist propaganda, and unless you are both closet commies I can’t imagine why you would become fear mongers. Its putting you both in the class of Lindsay Williams who seeks to exploit the Alt Media Sheeple by selling CD claiming some special inside information. I thought you were both better than this.
I am not an apologist for the NWO FED, but I do try to explain to those here, what is REALLY happening, what the FED is REALLY doing; why, and how it will impact all of US. So unless I am barred from the site because you do not want a desenting voice, I will continue to call BULLSHIT when I see it.
BULLSHIT 🙂
Here’s a link for the dollar haters:
http://www.zerohedge.com/news/2015-09-03/global-debt-deleveraging-it-our-doorstep
Get over it and take a trip to Europe or China and enjoy the strength of your purchasing power. 🙂
Here is another link to a ZH article that will educate those pushing the collapse of the dollar meme and the collusion between Russia and China to strike a coordinated “powerful blow” against the dollar.
http://www.zerohedge.com/news/2015-09-03/why-china-liquidations-may-not-spike-us-treasury-yields
If only they could, these closet commies would be delirious….. they can’t without an ICBM. 🙂
I read the headline
And immediately thought DK will have much to say
Fwiw i believe DKs side
They’re right, you’re wrong.
But hey, if you think you’re soooooo phukin’ smart, than start your OWN website for financial advice. Provide a link, I’ll be sure to visit just for the laughs. 😉
Thomas Alva Edison said “5% of the people thing, 10% of the people think they think, and the other 85% would rather DIE than think.”
You think you think. You don’t.
Breathial: No they are NOT right. Try reading some financial news at Zero Hedge you fucking MORON and you will discover the FACTS.
While people can have different analysis, conclusions and opinions after reading the FACTS, the FACTS stand on their own merit.
As an attorney Michael should know what FACTS are. The facts are, China sold US Treasuries to support a plummeting currency; as did Russia, in separate transactions, months apart.
By selling these financial assets to buy Yuan on the open market and support their currency, the Chinese government spent some of its paper wealth reserves. The same holds true for Russia and its ruble.
Neither action was a “blow” to the dollar. If I wanted propaganda I could watch CNN. 🙂
This Could Kick-Start WW3.,
https://www.youtube.com/watch?v=gq_su8XIpZU
Hey, WTF is going on here at this site? I didn’t come here to read about international subjects that might affect us somehow, or valuable tips on growing food and self defense, I came here for my daily sermon DAMMIT! Now where the fuck is it please? If I wanted prepper stories I would go read Daisy Luther or even Mike Snyder
for that matter, but I came HERE instead! Now will somebody PLEASE start talking about God wiping everybody out before I go into a severe state of religious withdrawal?
B.H.
Midnight shift is killing me. I’m getting to old for this shit!!!
Just think if the USA doesn’t buy their junk who will? It would be suicide for China to try this. No Russia on the other hand, I can’t think of anything Russia sells us. If anyone knows please enlighten me. Now Russia on the other hand buy FOOD from the USA and other American allies. Putin just might want to rethink this. A hungry Russia is a PISSED OFF Russian.
You do make a very good point about China and I agree 100%.
Sgt.
Oil might be the only thing they sell US.
That being said, Sarge, I have to respectfully ask you a question… if it was your precinct that lost a brother and your captain told you to go lock down the city, would you comply? If not, how would you explain your position to your boss. If so, how would you explain your position to your neighbors?
I do NOT envy you your job, you’ve got some serious shit to think about.
BTW, for any of my posts that reference “PIGS”, present company excluded.
AK-47s and Russian made ammo.
Russia’s Top 10 Exports
The following export product groups represent the highest dollar value in Russian global shipments during 2014. Also shown is the percentage share each export category represents in terms of overall exports from Russia.
Oil: US$288,361,702,000 (58.6% of total Russian exports)
Iron and steel: $20,202,919,000 (4.1%)
Gems, precious metals, coins: $11,579,099,000 (2.4%)
Machines, engines, pumps: $8,985,440,000 (1.8%)
Fertilizers: $8,909,523,000 (1.8%)
Wood: $7,638,190,000 (1.6%)
Cereals: $6,972,489,000 (1.4%)
Aluminum: $6,298,128,000 (1.3%)
Inorganic chemicals: $5,079,839,000 (1.0%)
Copper: $4,873,518,000 (1%)
Worldstopexports. Com
Don’t know how much of these products make it to the USA.
It is a groundhog day Sarge. Maybe repeating the same covers the real stories!
Vomit, swallow, regurgitate.
All Snyder all the time.
Putin is playing with fire and could have attempts made on his life besides all out war.
The odd point is, if there was an attempt and he survived. Wouldn’t it be nice to know that No Builderburger is safe. Having the resources to do so.
Putin knows who the shakers and breakers are in the world.
We never hear about it, but I’ll bet they’ve made many attempts on Putin’s life. Still, he will walk in the midst of his people. Anyone see the security entourage obungler needed, just to take a walk with his daughter the other day?
As far as dumping the dollar, you have to admit that the U.S. has been using their reserve status to economically bribe, blackmail and sanction other countries into submission — just about the meekest worm on the planet would get tired of that, sooner or later. Looks like the world is tired of being bullied. Can’t blame them one bit.
The reign of domination has to end sometime. We can only blame our govt’s foreign policy of world policing and domination for this. Our govt went too far, and WE end up paying the price for it.
off topic
Lockdown/manhunt/”Martial Law” in Illinois. My prayers and condolences go out to the officer and his family. But anyone who supports these massive shows of force by the police OCCUPYING an area and shutting down travel and everything else. Pointing guns in the faces of innocent people, not to mention God only knows how many innocent people they have likely arrested for “suspicion”. I mean do they even have any leads as to the whereabouts of these individuals?? If not why these counter insurgency like tactics? How can anyone support this. Is this the new reality of law and order in America??? I’m eager to know how many of you agree with the actions of the police?
Judging by the number of boot licker sheeple on this site, probably at least half of them would go in for it big time.
They’re practicing for US.
Get used to it. And prepare for it to increase drastically in frequency. Every time they do this and get away with it they get empowered to do it some more.
They’re at the point now that ANY resistance to the jackboots occupying your town for the slightest reason will result in civilian casualties.
It would take an entire neighborhood to stand up and say FUCK YOU PIGS! GET OUT OF HERE.
Sadly, that will NEVER happen. RIP United States of America, welcome United Sheep of America.
The jackbooted thugs want to make an example of anyone who dares to resist them, just like the ‘judge’ jailing the middle aged woman for defying his ‘order’ to issue Sodomite ‘marriage’ licenses. This is rooted in terror at the thought of the thugs exchanging positions with those they oppress. Every bully’s worst nightmare.
If Joe Sixpack is murdered, the ‘investigation is continuing’. If the ‘assassins’ have any sense, the police are searching the wrong part of the country. Remember the massive manhunt (for overtime pay) for the two escapees from a N.Y. maximum security(?) prison? Went on for weeks, and these guys were completely unarmed most of the time (who leaves a shotgun in an unoccupied cabin?) and had no resources. This is the same gang of ‘professionals’ who were hunting for Dorner (rather large black man) and shot up the (different make0 pickup driven by two Hispanic women. Must have been some REALLY fugly women to have been mistaken for a large black man. Wonder where all the bullets fired at these women ended up? Maybe in your house or my car?
Hugh, exactly. You have it nailed down,
Question is what do we do now.
Thank you for this information. The 2009 Climategate emails have finally led us to unmitigated arrogant selfishness (hubris) of world leaders after WWII and the scientists they fund:
https://www.researchgate.net/publication/281017812_STALIN'S_SCIENCE
Now the $64,000 question is just this: “Can society be returned to sanity (contact with REALITY: Every atom, life and planet in the solar system is sustained by NEUTRON REPULSION in the Sun’s pulsar core – an EMPIRICAL FACT world leaders and government scientists HID FROM THE PUBLIC for 70 years) without undergoing a crash landing of the world’s entire economic and social order?
Despite government deception and violation of the “basic right of every citizen to enjoy life, liberty and the pursuit of happiness“, the current social structure provides benefits that we must protect if the corrupt social structure goes into free-fall collapse.
We picked the fight with Putin. The Crimea and Ukraine are none of our business; these border squabbles are merely left over from the collapse of the USSR. Serves us right for not minding our own damn business.
Serves us right for overthrowing an elected govt of a sovereign country, so NATO could put more missiles on the rest of Russia’s border, and we could take over Russia’s only warm water port. The political play failed. Now we pay for it.
I really doubt that nations settle their import and export exchange by swapping truck loads of Dollars, and I know you don’t go around spending Dollars in Hungary and other countries. Where we see the Dollar being used as a global reserve currency is that nearly all exchange rates are set to the Dollar – THEN – the rates between other currencies are calculated based on that. Most intergovernmental FX is electronic anyway. I have heard the same ‘more Dollars used outside the country’ argument, and I can envision it electronically, but I just cannot see it happening with paper Dollars. Who walks into a Swedish bank and asks for Dollars to spend on the streets of Sweden?
I haven’t traveled internationally extensively, but American Dollar notes were always welcome, and preferred. An example of a country where the average schmuck on the street won’t take U.S. Dollars, please.
Hugh — I posted this in “Total System Collapse In Real Time” (Aug 30) and am re-posting here in reply to your request for countries where dollars are not welcome. The situation in England is this bad for their OWN money; I is surely much worse it would be for a foreign currency that has to be converted at a bank.
———-
The following is from a U.K. friend of mine. Slight changes have been made to protect identity, remove comments not related to this subject, etc… but this is 99% unchanged from the way I received it.
I find this quite unsettling, because an awful lot of totalitarian policies jump over borders…. and I have an uneasy feeling that this could be our future:
“In UK now it´s almost impossible to use cash in any significant way. Nobody will accept it in any large amount as a payment for goods or services, because you simply can´t put it in your account at the end of the week! The questions, and the hoops you have to jump through, just make it almost impossible. My friend tried to buy a van. Well, in the good old days, there would always be a decent discount for cash, but not any more. They couldn´t find one single person, either a private individual or a registered garage, who would take cash. It all had to be done with credit cards. This same friend, his father died recently, and my friend was the sole beneficiary. He doesn´t particularly need the money, so he decided to give it all to his son, who´s in his thirties with a family and could do with it. I can´t begin to tell you how many solicitors visits, accountants fees, notary fees, more solicitors visits, it just went on for weeks and weeks and weeks. It all had to be proven to be the proceeds of the will, not criminal proceeds, and I think they spent a fair portion of it just on legal fees making the transfer.”
“Yep, in UK cash is most unwelcome. Nobody wants it, because whoever is left holding it at the end of the transaction can´t put it in the bank without bringing down the wrath of god or someone, asking very pertinent questions! It´s just altogether too much aggravation. My friend had to actually fly back to England in the end, to sort this very simple transaction out… the amount of paperwork, collaborating paperwork, supplementary paperwork, it was just horrendous, and took literally weeks and weeks to do before every government department was satisfied. Whilst he was there, he noticed roadworks on every major motorway that he travelled on, but no sign of actual workmen, or equipment. So he asked what that was all about, and it turns out the country is installing recognition software every mile or so, along every major road.”
—–
a little update
(I cannot verify its veracity)
Walmart To Reopen Former Jade Helm Detention Centers As Actual Walmarts. Should We Trust Them?
h ttp://www.dailykos.com/story/2015/09/03/1417954/-Walmart-To-Reopen-Former-Jade-Helm-Detention-Centers-As-Actual-Walmarts-Should-We-Trust-Them
Speaking of off topic subjects…
jpost.com/landedpages/printarticle.aspx?id=415079
If that’s true (Nuclear deal calls for US to defend Iran against Israeli attack), that’s grounds for immediate impeachment of POTUS. Or hanging by the neck until dead.
What did Iran ever do to you? Have their govt overthrown forcefully by us or is it because many races/religions live there peacefully that upsets you so much at the thought of defending them?
Why? because Israel has been so good to us? Or because people confuse the Israelis with the “Israelites” in the Bible?
I don’t know the difference. I don’t read the Bible. Israel is our ally. Iran keeps saying they want to wipe the US and Israel off the map.
I dunno, you do the math.
Oh I dunno, the group of Israelis jumping for joy as the towers fell on 9/11/01 kinda told me that they are not our friends, they just love our handouts.
Billy Hill, you seem to be an honest person. Don’t listen to the Fox news, CNN etc. do your own learning and research. Although I’ve been marked a a nazi etc… but the issue is not the faith of the people. No one in their right mind should be hostile to others because they believe in a tall tree, stone, God, etc.. as long as they don’t try to force their believes to others and to destroy the freedom that is God given. Iran, Iraq, Syria, Ukraine etc. haven’t done anything to us in the US of A rather we have done and committed crimes against humanity in there lands. By we I don’t mean Americans like six-pack, JQP, POG and many more on this site rather you have to realize that our country is being controlled to the bone by the Zionists and the military industrial complex multi national corp. There are many jews who separate themselves from zionism but you never hear their voices on msm because the zionist owned media blocks them. Read the history and you’ll find what USA via the zionist controlled UK did to the Iranians by overthrowing their prime minister and placing a puppet named shah to shell their natural resources. Read the history to see 100K Iraqi babies got killed because of the scansions placed in their country by the criminal Bush before even the mass killing started. Read the history and see what crimes we have done in Syria via the barbarians named ISIS who were funded by another barbarian named Saudis and trained by our military. Read the recent history about the crimes against humanity in Ukraine by the zionist deputy secretary of state.
You’ll discover the truth if you sincerely searching for it but you need to read the history.
Neither Saudis nor the zionist in the land that have occupied by killing babies for sport are our friends rather they are the real enemies causing our daily suffering and creating an international hatred toward us.
Satori, I heard that the Walmarts that closed for “plumbing issues” were closed because they each tried to organize with a union. It makes sense and it sent a message to those working in those stores.
Wal-Mart Stores Inc said it would reopen in late October to early November five U.S. stores whose closure had prompted a union to file a complaint with the National Labor Relations Board, claiming the retailer was retaliating against workers for organizing.
Wal-Mart will start hiring for the stores in Texas, Oklahoma, Florida and California, and will encourage previous employees and those that transferred to other stores to apply, company spokesman Lorenzo Lopez said on Wednesday.
Do not worry, our resident money man(DK)will say: It’s all BS they can not go on surviving if they drop the ALL MIGHTY DOLLAR. It will come to an end someday and the Union Green Backs will make great graffiti for the May Day parade or such. I feel that the powers behind the worlds controlling banks are ready to pull the plug on the good old U. S. any day now. She was been one HELL of A ride though hasn’t it. RIP AMERICA!!
well… I trust President Obama’s leadership to see us through….. oh wait….
Bwahahahaha!!
He did promise change…..
If we all make money our bottom line we’ll all be found at.,..,..,……….,……….,…,.,…………..
The bottom.
more info
Mysteriously Closed Walmarts Will Reopen In October Or November As Planned
ht tp://consumerist.com/2015/09/02/mysteriously-closed-walmarts-will-reopen-in-october-or-november-as-planned/
Prepper Tip of the Day
8 Signs Your Stored Foods Could Kill You
ht tp://beforeitsnews.com/survival/2015/09/8-signs-your-stored-foods-could-kill-you-2583836.html
If your can of pork ‘n’ beans is shaped like a softball, it might be spoiled.
I actually had a can do that one time. I had to carefully take it outside so it wouldn’t explode in the kitchen.
“A”
Those make great targets.
Sgt.
That must really suck in those other countries where the dollar is used to look at these fiat notes backed by nothing but the full credit and faith of the u.s. government, like there is any. Then look at the pyramid with the all seeing eye at the top on the backside. Creepy!
And now the Pope has come out in favor of abortion! The Pope says if you had an abortion you are not ex-communicated any more. All you have to do is say you’re sorry. Hell must be empty now. Are they the Ten Commandments or the Ten Suggestions?
We abandoned morals/God years ago.
Selling baby parts still takes the cake though…
Depends on whether you’re a conservative or a liberal, respectively.
And now the Pope has come out in favor of abortion! The Pope says if you had an abortion you are not ex-communicated any more. All you have to do is say you’re sorry. Hell must be empty now. Are they the Ten Commandments or the Ten Suggestions?
I doubt hell is empty, they must have opened a few more circles since the rest were full.
Just look around RED HANKIES are being waved all over the place in this bulls face by our enemies. Will the Bull charge no he’s been de-nutted by Obama and company.
Just sickening to see this once great nation taken down by a hand full of A$$-WIPES. RIP AMERICA!!
America took itself down from the inside. The rest of the world is just sighing in relief.
All great nations commit suicide.
The price of toilet paper will drop with all those extra dollars on hand. There is light at the end of the tunnel.
Lol!!!!
It’s like I borrowed a lot of money from a lot of people and gave them IOU’S. Then the people started to use the IOU’S to buy stuff from each other. Now they see me buying a new car everyday and the people holding the IOU’s are getting nervous. That’s what it’s like with the dollar. The dollar has no value. Just the willingness of people to accept it.
Bingo,
18,000,000,000,000
Lots o zeroes
If i were a country that had a fairly good economy and still had the capability of manufacturing products and a low debt i may be looking to decouple my currency from the zeroes too.
It’s really not important that Russia will be doing business with Kazakhstan and the other ‘stans outside the dollar. It probably represents 2% of world trade.
What really matters is that since Obama dumped Saudi Arabia for Iran, the Saudis will be dumping the dollar soon. Probably once they’ve reached an understanding with China and Russia for protection.
Not only that, since the price of oil has dropped from around $100 to around $40 that means that a lot fewer dollars are needed in foreign reserves for other countries to buy oil.
Which then means that’s only a matter of time before all those dollars cause hyperinflation in America.
Russia isn’t letting in millions of welfare migrants. The West is imploding right before our eyes. We are done. The media says that 7 out of 10 migrants in Europe will come to the US. “Our” government is promptly sending them to the great white north. Idaho, N. Dakota, Maine, New Hampshire etc.
That’s right, and we know that God hates that!
Im heading to the store right now to buy some .308 ammo, might as well buy some tangibles before this hippo sinks. Yall hear that noise….Timber!!!!!
Gas has now dropped below $2 in NC. Erps Truck Stop in Elizabeth City was at $1.99 yesterday. Most of the places I stop at are $2.08. The price is down to $1.88 at Costco in Charlotte.
Someone on here said that the oil companies would never let the price go below $2. Well, it’s there now in a good number of places, and the other places are still dropping prices.
And people are still cutting back in spite of that
eye on the ball, dont forget about the criminals in DC,, yep all of them
There all guilty around her, Here is the thing Obama knew of her private use of the computer, first denied it then was caught in the lie and finally admitted to it so he knew it was against the law and said nothing about it, now the FBI has to walk on egg shells not to get Obama involved and some how convict Hitlery, so now the staff around her are taking the fifth. America can’t we see Hitlery is wrong for America, Lies,Corruption,Murders,Suicide,Scandals,yet, thats what the elites want , but not us people
Yet some of my neighbors think she will be wonderful,,,,
101 reasons why i am adopting a sustainable subsistence lifestyle.
My neighbor is the same way. And he’s Mormon!
I think the ONLY reason is his wife has MS and her daughter is gay. And because he’s a raging stoner and thinks that’s his ticket to legalization. :sigh:
No matter how they spin the numbers, this is NOT a recovery.
Total 2015 Job Cuts To Be Biggest Since 2009: Challenger
“Moments ago Challenger reported August job cuts, which at 41,186 were a 60% drop from the 115,730 reported last month (the highest since September 2011), which however was driven by a one-time mass layoffs last month in military staffing.
Putting August in its correct perspective, the number was 2.9% higher than the same month a year ago, when 40,010 planned job cuts were announced.
So far in 2015 employers have announced 434,554 job cuts: that is up 31 percent from the 332,931 planned layoffs in the first eight months of 2014.
What is worst, and what reveals the true picture of the economy, is that with monthly totals averaging 54,319, 2015 job cuts are on track to exceed 650,000 for the year, which would be the highest year-end tally since 2009 (1,272,030).”
“…due to the ongoing oil rout, tens of thousands of highly-paid workers mostly in the oil space are getting pink slips just as the Fed is preparing to tighten. Putting a number to that estimate, Challenger says that “since the beginning of the year, oil prices have been blamed for 82,268 layoffs, mostly in the energy sector, but also among industrial goods manufacturers that supply equipment and materials for oil exploration and extraction.”
“Curiously, the biggest culprit for August job cuts was not the energy sector (expect many more layoffs here), but retail. The retail sector saw the heaviest job cutting in August, with 9,601 planned layoffs reported during the month.”
“…ConocoPhillips just announced two days ago when it fired 10% of its global workforce, oil companies which had been betting on an oil rebound, all got flatfooted by the second drop in oil price. This will lead to tens of thousands of more highly paid jobs being pink slipped in the coming months.”
Zerohedge
Direct Link…
http://www.zerohedge.com/news/2015-09-03/total-job-cuts-pace-be-biggest-2009-challenger
I said gas would not drop below 2 dollars here in Florida, somebody else said it also, don’t know what state. Gas sitting at $2.08 here now. Still twice the price it should be.
The “local” trade in rubles is irrelevant. These countries are a part of the Russian Federation much like the USA states.
Russia has an account surplus of FRNs (NO international debt) from years of high priced hydrocarbon exports. It stands to reason they would liquidate some of these since they get more rubles for them than they did a year ago.
Since they allowed the ruble to devalue along with the drop in price of hydrocarbons, they actually do not suffer much of a loss in rubles. Their economy runs on rubles and is mostly a hydrocarbon export based economy. When they sell hydrocarbons in FRNs or Euros (same diff) they get around the same amount of rubles in FX as before even though the FRN price of crude is lower.
ALL economies based in exports of hydrocarbons are way ahead of ALL hydrocarbon importing economies. The world economy is based on hydrocarbons…not some pretty printed paper… and Russia is top dog in production (well, close).
This is NOT some mysterious global collusion to kill the FRN. It is merely a country trying to survive the currency hegemon and warmongering of the Anglo-Zionist Empire without going to war.
If you ask me, they have a pretty good shot at it unless the Empire starts the war…
PS…China is also allowing their currency to float (or devalue). It’s a fuckin’ joke that politicians and Ivy League analysts are complaining about this now when all they did was cry about the peg to the FRN for years and years.
Also, the Federal Reserve was the FIRST to devalue their currency by way of “continuous” QE.
Don’t they expect a response?
It’s called currency wars and the Fed fired the first shot. Stop blaming anyone else but the Fed and the policies of a corrupt and out-of-control corporate state and all their minions that defend them from the Chief Executive down to the local enforcers. They are ALL a part of the corruption even though they “just do their job”.
No country or countries will take us out. If we fall it will be as Lincoln said “we will fall from within” as Rome did.
And I believe that its already happened we just dont all know it yet. Getting close to last chance to stock up….GOD-GUNS-PREPS.
Thanks for your service Mr Trooper.
US of I are Dicking with the wrong guy. Payback will be a well deserved bitch.
How bout that Jade Helm