Good distraction Pute.On another note...Jake Tapper... Moderator in Thursday's night's debate was a former spokesman for Hooters.
Yes I do, I remember vaguely, her in a movie called Two Women.Anybody remember Sophia Loren? She had talent.
Handfuls of talent...Anybody remember Sophia Loren? She had talent.
I start to decay in a dayI stink. Shower time and fresh pair of undies. Was in there Sunday I believe.
I had to do something.....I love the attention but nature called.Good distraction Pute.
About the debate, the spokesman will keep you abreast of things.
Not the way I see it.Anybody remember Sophia Loren? She had talent.
Back on my hobbity-horsie again. Just to show you I am not the lunatice fringe regarding the financial atom bomb about to go off.
Here is a C&P:
Current Context (as of June 2024)
Current Gasoline Prices: Around $3.50 to $4.00 per gallon in the US. (an average. Out here it is consistently over $5.35.
Inflation: Higher than average due to various factors including supply chain disruptions, economic policies, internal USA political, and global events. Projected to run at some level OVER 100% per year by the end of the 2nd year post agreement lapse.
Potential Projections
Fiat currency undergoes significant devaluation as a result of the lapse of the Petrodollar agreement. We can draw parallels with past hyperinflation scenarios, although the actual impact will depend on specific circumstances. Here's a hypothetical progression over the next few years:
Short-Term (1-2 Years):
Inflationary Surge: Rapid devaluation of fiat currency could lead to a surge in gasoline prices.
Possible Price Range: $8.00 to $13.00 per gallon.
Mid-Term (3-5 Years):
Continued Inflation: Sustained inflation could further push prices up, especially if alternative energy sources aren't sufficiently developed to offset demand.
Possible Price Range: $17.00 to $31.00 per gallon.
Long-Term (5-10 Years):
Market Adjustments: Potential stabilization through new economic systems, adoption of cryptocurrencies, or a new form of backed currency.
Possible Price Range: Prices could stabilize but remain high compared to historical norms, possibly in the range of $28.00 to $52.00 per gallon, depending on the success of economic transitions and energy innovations.
As you can see, AI thinks that the FRN (Federal Reserve (debt) Note, is going to be very worth-less in a short time. Note these gasoline price projections are NOT taking the compounding impacts of other inflation such as silver which is used in the refining of gasoline.
Not sure where you get your data from. And, for reference, the Saudi Riyal remains pegged to the USD.
Saudi's have been trading, and willing to trade oil in a basket of currencies for quite some time.
Eventually, of course, converting the bulk of it back into US Dollar related financial instruments.
There was no shock wave in the markets, which there should have been, if of great importance.
As to your predictions on the price of oil - you must have a crystal ball better then the rest.
The world's major players trade both currency & oil markets. And they've fluctuated normally.
I can only wonder how the Kingdom will continue to get rich with no one able to afford gas.
There never was a factual exclusive deal that Saudi's had to trade every drop of oil in US Dollars.
Given the choice between holding Yuan or Dollar (USD), that's an easy one. They like Euro too.
In January 2023, Saudi Arabia formally announced they would trade oil in other currencies also.
Brent and WTI are both future traded in US Dollar denominations. Oil has gone up slowly recently.
And the US Dollar has slowly risen too, and been stable. With no abnormal perceivable fluctuations.
We should see some panic and disparity if in fact the major players are concerned with this. Not.
The Saudi Kingdom is as greedy as ever, & wants to pull away from any perceived sole nation bias.
And, of course, there is the possible leverage that is attached to any future US - Saudi agreements.
The referenced pact ended on June 14, 2024. Markets don't lie. And they dd not noticeably change.
I am providing a link to an outside the US publication so that one won't perceive any overt bias here:
Did Saudi Arabia really end petrodollar deal? UBS economist clarifies
Reports of Saudi Arabia ending petrodollar deal sparked online discussions about the potential decline of the dollar as the world's reserve currency.www.indiatoday.in
Here is another with a little more in depth explanation as to what actually did, and is, transpiring, today:
US-Saudi Arabia security deal could seal future of petrodollar
The kingdom is finalising a defence treaty with the US, which is part of a broader package, reports saywww.thenationalnews.com
Here is a last link that will allow you to do a much deeper dive, if so interested, with numerous links:
No proof Saudi Arabia will stop using US dollar for oil
Is Saudi Arabia abandoning the U.S. dollar for its oil sales? A June 13 X post that purported to show "breaking news" clwww.politifact.com
That is AI -- using current data.
And the rest of the world has most ricky-tick noticed the voice from the desert announcing the 50-year deal is over. And will not be renewed.
I am not happy with what is clearly coming. But if you don't agree it is coming, that's fine.