The lack of confidence in the Chinese currency is a big problem for them. They say they have a gold reserve to back their currency, but it won't be enough... China will have the same problem as the United States in 1971, that is to say that they will not have enough gold to back their currency. In fact, there is not enough gold on the planet to back any currency on this scale. I understand the enthusiasm of some to end American hegemony, but I'm not sure that a possible Chinese hegemony would be better 😂
What needs to happen is the US needs to quit providing Saudi protection. That was part of the deal to make the petrodollar after all. We need to renig on our side as well. Let Iran have their way with them.
Why do you say we are not energy (meaning oil, not “energy”) independent? The US is a net exporter of oil and the largest producer in the world - even surpassing Saudi Arabia. Looking to the future, where the world must move away from oil or slowly broil, and where we have passed peak oil consumption, why should the US be so intertwined with a religious extreme dictatorial regime who has virtually no economy outside of resource extraction, and who bred the participants of the most notable foreign attack against the US?
Here is what I got off chatGPT The United States is not fully energy independent, but it has made significant strides in reducing its dependence on foreign energy sources in recent years. The country has increased domestic production of oil and natural gas through technologies like hydraulic fracturing, or fracking, and has also invested in renewable energy sources such as wind and solar power. While the U.S. still imports some energy resources, it has significantly reduced its reliance on foreign oil in particular.
FDR took the USD off of the Gold Standard upon his inauguration in 1933, at the peak of the Great Depression, to fight deflation and 25% unemployment (with the New Deal's gov't spending). Nixon took the USD off of the Gold Standard in 1971 due to inflation caused by gov't spending on the Vietnam war and LBJ's Great Society programs. Bottom line is that the public prefers inflation and low unemployment to deflation and high unemployment.
I have an EV (a 2017 Bolt that I bought new) in the San Francisco Bay Area. It's run well but one thing that concerns me is that I'm not aware of the development of a network of third-party maintenance shops, so, if I have a problem I'd probably have to go back to the dealer. One maintenance shop I'd dealt wit suggested that the manufacturer was not particularly forthcoming with info on computer code used in the vehicle.
I’m glued to this podcast for goodness sake. Thanks.
Thanks for listening
The lack of confidence in the Chinese currency is a big problem for them. They say they have a gold reserve to back their currency, but it won't be enough... China will have the same problem as the United States in 1971, that is to say that they will not have enough gold to back their currency. In fact, there is not enough gold on the planet to back any currency on this scale.
I understand the enthusiasm of some to end American hegemony, but I'm not sure that a possible Chinese hegemony would be better 😂
Well said.
Very insightful. Thank you.
IM WITH YOU BROTHER THANK YOU FOR YOUR GOOD WORK TO SAVE PEOPLE GOD BLESS YOU
Fake news.
Good thing it expired...imagine the USA expects everyone to honor their agreement whilst they go back on their word all the time
What needs to happen is the US needs to quit providing Saudi protection. That was part of the deal to make the petrodollar after all. We need to renig on our side as well. Let Iran have their way with them.
Why do you say we are not energy (meaning oil, not “energy”) independent? The US is a net exporter of oil and the largest producer in the world - even surpassing Saudi Arabia.
Looking to the future, where the world must move away from oil or slowly broil, and where we have passed peak oil consumption, why should the US be so intertwined with a religious extreme dictatorial regime who has virtually no economy outside of resource extraction, and who bred the participants of the most notable foreign attack against the US?
Here is what I got off chatGPT
The United States is not fully energy independent, but it has made significant strides in reducing its dependence on foreign energy sources in recent years. The country has increased domestic production of oil and natural gas through technologies like hydraulic fracturing, or fracking, and has also invested in renewable energy sources such as wind and solar power. While the U.S. still imports some energy resources, it has significantly reduced its reliance on foreign oil in particular.
This is not accurate, although the petro dollar deal expired since they're working on a new deal they let it expire.
We are now in a position of weakness. I hope we strike a good deal but I am skeptical.
Oh no. Most likely I will buy another tesla or f150-e, rather than selling my electric car. Love it.
One main attraction to this channel is the projection of self reliance which money can’t buy. Thanks for informing.
Thank you.
The petrodollar "agreement" never existed as we thought it did.... look into it
FDR took the USD off of the Gold Standard upon his inauguration in 1933, at the peak of the Great Depression, to fight deflation and 25% unemployment (with the New Deal's gov't spending). Nixon took the USD off of the Gold Standard in 1971 due to inflation caused by gov't spending on the Vietnam war and LBJ's Great Society programs. Bottom line is that the public prefers inflation and low unemployment to deflation and high unemployment.
I’m glued to this podcast for goodness sake. Thanks. ME TOO THANK YOU REPPOND
I have an EV (a 2017 Bolt that I bought new) in the San Francisco Bay Area. It's run well but one thing that concerns me is that I'm not aware of the development of a network of third-party maintenance shops, so, if I have a problem I'd probably have to go back to the dealer. One maintenance shop I'd dealt wit suggested that the manufacturer was not particularly forthcoming with info on computer code used in the vehicle.
Sell Comcast stock!!!
TINA