RummyBoy

I don't think you read the article or understood. The Fed has a 2% inflation target and privately some say they want to achieve 4% - its okay because some inflation is definitely desirable. However, the world is in deflation right now which is why all commodities have collapsed, so there is no inflation no matter how hard they try (a strong dollar doesn't help)... remember how many years of QE?

Anyhow, four percent is nothing. If the dollar lost its petrodollar status, that's where inflation "can" run out of control and become hyperinflation as the article explained...

Barry-xlovecam

The USA is moving (and adjusting) into a post-industrial society where the petro-economy is of much less importance. For that reason the ''petrodollar'' much less relevant. But thank you for your concern

Look at it this way: The sky is always falling and smart people are making money anyway

RummyBoy

It's very relevant as is the selling of US debt by many holders around the world. The Petrodollar is one of the pillars of US power, if you suddenly pull it away and there is nothing else to replace is then you can have issues. I don't believe it will go away so easily though, such things can take a very long time unless you have a major crisis....

Still, I do pretty much agree with Berwick on the overall trend and especially lack of overall awareness about whats happening:

Sarn

Dollar is provided by work of 350 million people in the US - not oil
but always a lot of disgruntled envious

Barry-xlovecam

The Iranians will not accept 'satan dollars' from the USA.
That should be obvious.

Everyone else in Dollars is sitting pretty today.

Economic advise from youtube

Barry-xlovecam

Actually, more and more is revenue coming from global profits We are selling information products and ecommerce. The new money is not being made by Caterpillar, Boeing or other capital goods producers like in the last century. USA companies like Google, Apple, Microsoft and even Uber are leading this changing economy. All of the pissing and moaning here in the USA: ''Where are our jobs!'' is the result of the US worker's inability to adapt to changing vocational and education requirements of this new post-industrial economy. In a generation people in the USA will adapt (or die off).

We Americans whine a lot but have it relatively easy compared to the rest of the world

Horatio Caine

RummyBoy

Your clueless man.... the dollar is only strong because everything else looks worse and because of the expectation of interest rates rising to a "positive real interest rate". That means interest rates above the rate of inflation which will never happen.

Once it becomes clear that its not going to happen, we'll see some dollar weakness...

Horatio Caine

For those who wake up daily to check the "collapse" of dollar. Hope this helps.

Horatio Caine

And who the fuck is this guy? Sounds as reputable as cyberseo on Saturday night

Jeff Berwick - Wikipedia, the free encyclopedia

RummyBoy

Yes thanks, it helps to prove you're a trailer dwelling sheeple who believes anything he reads and probably has half a brain. There may well be a large US holding but a large part of that is what was looted from private holdings during the 1930's

Roosevelt's gold confiscation: could it happen again? - Telegraph

As for the US total, there are serious doubts recently about whether all the gold is there:

US Government Lost 7 Fort Knox Gold Audit Reports

RummyBoy

Hardly the surprising the mainstream is keeping quiet but it wasn't BS afterall:

Iran Says No Thanks To Dollars; Demands Euro Payment For Oil Sales | Zero Hedge

"This comes at a time when the petrodollar is under tremendous pressure. Russia and China are already settling oil sales in yuan and "lower for longer" crude has broken the virtuous circle whereby producing countries were net exporters of capital, recycling their USD proceeds into USD assets thus underwriting decades of dollar dominance."

ITraffic

stop reading zero hedge. that shit is pure delusion and intellectual poison.

Horatio Caine

Another protegee of cyberseo..

bullionstar.com <-

sweet dreams, child. sweet dreams.