A few things have happened that have made me stop and think…and I would like you to do the same.
#1 – Less than a week ago Saudi Arabia announced it would accept payment for oil in currencies other than the dollar. That is pretty significant for three reasons…1) the dollar has been the world’s reserve currency since WWII, 2) the dollar has been the “petro-dollar” for as long, meaning oil was bought and sold only with US dollars, 3) Biden really screwed up the US – Saudi Arabia relations last year…to the point of open economic hostilities. Opening up oil payments to non-dollars weakens the US dollar on the world economic stage.
#2 – US will give Ukraine over 30 M1 main battle tanks. These are the best tanks in the world…and an offensive weapon. Russia has been threatening war with the US over Ukraine, the US and NATO have been threatening war with Russia over the Ukraine. Even the use of nuclear weapons has been thrown about by both sides. So why would the US and NATO want to poke a finger into Putin’s eye right now? Remember, Ukraine is winning the war on the ground, so why tanks, why now? Oh, the only real winner in this Ukraine-Russia war is the military industrial complex…making tens and tens of billions of dollars.
#3 – All forms of debt in the US are at historic highs. All forms of savings in the US are at historic lows. A US housing bubble has started to burst in earnest. The US has run out of borrowing capability until Congress passes a new bill allowing the US to borrow trillions more to pay its bills. Interest rates are high and climbing. It appears that the US will lose 150,000 – 200,000 jobs per month in the first part of 2023. The US is already in a recession, and it appears to be getting worse for all of 2023. US workforce participation is at an all time low. US productivity is hurting and getting worse. Less than 1/3 of US workforce say they are “engaged” at work…meaning that more than 2/3 of employees are only putting in their time with minimal effort.
I am not saying anything in particular, I am just saying “be careful”.
Saudi Arabia and Russia are allies. And China and Russia are allies. And Saudi Arabia and China are now allies because of Biden. Saudi Arabia and Russia are the #2 & #3 oil producers in the world…double what the US produces. China is now coming out of their forced COVID lock-down…and they are a huge oil importer lately…and will significantly increase their oil imports in the coming year or so. China is in economic war with the US, Russia is in a near-shooting war with the US…and it may get worse. Saudi Arabia is in a oil/economic war with the US. If Saudi Arabia makes even a minimal global impact by accepting non-dollars for oil, that will be a Pearl Harbor against the US dollar.
So what does all this look like to you?
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💩🤯💨🌬️ couldn’t find a fan but you get the idea.
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Doesn’t work fer me…..