Sanctions on Russia

Carl Flores5 said:The marina staff doesn't have any authority or legal obligation here. This looks like a classic case of passing the buck and muddying the waters—they're probably trying to frame the sailor who caught them red-handed as the main culprit.

I don't have the full picture of what went down, but if there was clear signage stating the property was under seizure, then the legal right to control that property is unambiguous. If there were no markings or formal written notices, then we are looking at a failure at a much higher administrative level. It is reductive to pin everything on the individual who hauled in the catch once they had already cleared the harbor. But let’s be realistic—this is America. In this country, if someone comes from a disadvantaged background, they can practically ignore crosswalk laws without consequence. Perhaps these people simply suffered a collective bout of syncope once they sailed away... it wouldn't be the first time.

dustytiger8 said:Not a chance. 🙂

They have Gaddafi’s example staring them right in the face. He tried to pull that exact stunt, which is exactly why he was taken out. He wanted to establish a gold standard across the African continent and settle payments for oil using gold. We all know how that ended. 🙂

This is nothing more than a laughable conspiracy theory. There is a very logical reason why every major economy in the world moved away from the gold standard.

Even if Gaddafi had tried, not a single nation across the African continent would have accepted his dinar, simply because it served no one's interests and offered no benefit to their own domestic economies. That is the end of the argument regarding Gaddafi being removed over some currency scheme.

Anthony Hill5 said:This is nothing more than a laughable conspiracy theory. There is a very logical reason why every major economy in the world moved away from the gold standard.

Even if Gaddafi had tried, not a single nation across the African continent would have accepted his dinar, simply because it served no one's interests and offered no benefit to their own domestic economies. That is the end of the argument regarding Gaddafi being removed over some currency scheme.

It isn't a conspiracy theory, let alone a ridiculous one. You can find books from the 70s detailing the state of the Federal Reserve, the issues with dollar liquidity, and the problems surrounding the gold standard...

The Federal Reserve knows. You will probably agree (check the bibliography at the bottom of the article):

https://www.federalreservehistory.or...rtibility-ends

"...The deteriorating U.S. balance of payments, combined with military spending and foreign aid, resulted in a large supply of dollars around the world. Meanwhile, the gold supply had increased only marginally. Eventually, there were more foreign-held dollars than the United States Had Gold. The country was vulnerable to a run on gold and there was a loss of confidence in the U.S. government’s ability to meet its obligations, thereby threatening both the dollar’s position as reserve currency and the overall Bretton Woods system. ..."

So, what is this supposed "reason" why all the world's economies abandoned the gold standard?

You aren't following. I didn't mention "Gaddafi's dinar." I was talking about an African gold standard. An attempt was made. They have the so-called CAF—the Central African CFA franc—which served as the nucleus of that principle. Seven Central African nations use it.

Tokosjovnik As Anthony Hill5 states:
This isn't some wild conspiracy theory. If you actually bother to pick up any of the serious economic texts from the 1970s, you’ll find everything you need to know regarding the instability within the Federal Reserve, the systemic issues surrounding the dollar's circulation, and the entire collapse of the gold standard. Are we really expected to ignore the historical record?

The sheer audacity required to ignore the fundamental principles of monetary stability is, quite frankly, staggering. One has to wonder: at what point did we decide that the primary responsibility of the Federal Reserve was to facilitate chaos rather than maintain order? When we look back at the history of how liquidity and policy shifts have been handled, does it not become painfully obvious that we are repeating the most egregious mistakes of the past? How can anyone with even a passing interest in economic reality look at these historical precedents and not feel a sense of profound indignation? We see these patterns—these reckless swings between tightening and loosening—and yet the institutional inertia remains unshakable. Is it incompetence, or is it something more calculated? To suggest that such volatility is merely a byproduct of "market forces" is a convenient lie designed to shield policymakers from the consequences of their own indecision. It is a continuous cycle of mismanagement that threatens the very foundation of our financial system, and if we continue to pretend that this instability is acceptable, we are essentially inviting a total collapse of public trust.

What exactly is the underlying reason that every single major economy on the planet decided to abandon the gold standard? Is it merely a matter of convenience, or is there a deeper, more calculated motivation behind such a monumental shift in global finance?

You aren't following my line of reasoning. I never once brought up "Gaddafi's dinar," but rather the African gold standard itself. The entire trial was built upon that specific principle, utilizing what is known as the Central African CFA franc as its core nucleus—a currency currently employed by seven different nations across Central Africa.

Is it not a profound embarrassment that the Central African CFA franc continues to exist as nothing more than a hollow relic of French colonial influence? We are forced to witness this archaic system where a currency remains tethered to the Euro, all while its reserves are held under the direct control of the French treasury. How can any modern, sovereign nation claim true economic independence when its financial lifeline is still being gripped by a former colonial power?

Anthony Hill5 said:This is nothing more than a laughable conspiracy theory. There is a very logical reason why every major economy in the world moved away from the gold standard.

Even if Gaddafi had tried, not a single nation across the African continent would have accepted his dinar, simply because it served no one's interests and offered no benefit to their own domestic economies. That is the end of the argument regarding Gaddafi being removed over some currency scheme.

It stands to reason that central banks moved away from using gold as a currency anchor—though "moved away" is an understatement; they flee from the concept like a demon from holy water. Gold tied their hands. You cannot implement Quantitative Easing if you are shackled to a gold reserve for every unit of currency in circulation. It is impossible. Now, the limits of central bankers are bounded only by their own imagination. Then there is the matter of public trust in the system, but that is a different conversation entirely.

No sane person ever accepted Gaddafi's dinar, primarily because no one with a shred of common sense actually believed in him. Currency is built on trust. Historically, the gold standard existed to establish that trust. Once that trust was secured, the gold standard became nothing more than a massive liability.

@Maskeron

🤣

Which currency are you even talking about regarding the CAF?

Anyway, you dodged the question... Why did the rest of the world abandon the gold standard in the first place?

I've made this point before:
"The volume of petrodollars circulating globally through oil trades has long since eclipsed the amount of dollars needed for any conceivable domestic transaction in the US. We're talking about a double-digit multiplier effect here. That's exactly why the US unilaterally killed the gold standard back in the 70s (the Bretton Woods agreement). They simply couldn't maintain a gold backing for the massive expansion of dollar liquidity driven primarily by the oil trade."

The Federal Reserve puts it this way:
"The deteriorating U.S. balance of payments, combined with military spending and foreign aid, resulted in a large supply of dollars around the world. Meanwhile, the gold supply had increased only marginally. Eventually, there were more foreign-held dollars than the United States had gold. The country was vulnerable to a run on gold and there was a loss of confidence in the U.S. government’s ability to meet its obligations, thereby threatening both the dollar’s position as reserve currency and the overall Bretton Woods system."

dustytiger8 said:@Maskeron

🤣

Which currency are you even talking about regarding the CAF?

Anyway, you dodged the question... Why did the rest of the world abandon the gold standard in the first place?

I've made this point before:
"The volume of petrodollars circulating globally through oil trades has long since eclipsed the amount of dollars needed for any conceivable domestic transaction in the US. We're talking about a double-digit multiplier effect here. That's exactly why the US unilaterally killed the gold standard back in the 70s (the Bretton Woods agreement). They simply couldn't maintain a gold backing for the massive expansion of dollar liquidity driven primarily by the oil trade."

The Federal Reserve puts it this way:
"The deteriorating U.S. balance of payments, combined with military spending and foreign aid, resulted in a large supply of dollars around the world. Meanwhile, the gold supply had increased only marginally. Eventually, there were more foreign-held dollars than the United States had gold. The country was vulnerable to a run on gold and there was a loss of confidence in the U.S. government’s ability to meet its obligations, thereby threatening both the dollar’s position as reserve currency and the overall Bretton Woods system."

We have drifted entirely away from the subject, though perhaps we don't know much about it, do we? 😁

What is The CFA Franc
The CFA franc, backed by the French treasury and pegged to the euro, refers to both the Central African CFA franc (XAF) and the West African CFA franc (XOF), and is accepted in 14 member countries.

The CFA franc, backed by the French treasury and pegged to the euro, refers to both the Central African CFA franc and the West African CFA franc, and it's accepted in 14 member countries.

Understanding The CFA Franc
Understanding The CFA Franc The CFA Franc was created by Franc in 1945 and pegged to The French Franc. CFA franc can refer to either the Central African CFA franc, which is the official currency of six member nations and symbolized by the abbreviation XAF in currency markets, or the West African CFA franc, which is the official currency of Eight member nations and is symbolized by the abbreviation XOF in currency markets.

in theory , however , The French government or The monetary unions using The currencies could decide to Change The value of One or The other. Given that it has the responsibility of backing the CFA franc, the French treasury controls 50% of the foreign exchange reserves of all 14 CFA franc using countries

https://www.investopedia.com/terms/c...20CFA%20francs.

The gold standard was dismantled for several reasons, the most significant being the ability to exit recessions more easily, the creation of jobs, and the stimulation of economic growth. Furthermore, one must consider that nations lacking gold reserves find themselves at a distinct disadvantage compared to those that are wealthy in gold.

dustytiger8 said:@Maskeron

🤣

Which currency are you even talking about regarding the CAF?

Anyway, you dodged the question... Why did the rest of the world abandon the gold standard in the first place?

I've made this point before:
"The volume of petrodollars circulating globally through oil trades has long since eclipsed the amount of dollars needed for any conceivable domestic transaction in the US. We're talking about a double-digit multiplier effect here. That's exactly why the US unilaterally killed the gold standard back in the 70s (the Bretton Woods agreement). They simply couldn't maintain a gold backing for the massive expansion of dollar liquidity driven primarily by the oil trade."

The Federal Reserve puts it this way:
"The deteriorating U.S. balance of payments, combined with military spending and foreign aid, resulted in a large supply of dollars around the world. Meanwhile, the gold supply had increased only marginally. Eventually, there were more foreign-held dollars than the United States had gold. The country was vulnerable to a run on gold and there was a loss of confidence in the U.S. government’s ability to meet its obligations, thereby threatening both the dollar’s position as reserve currency and the overall Bretton Woods system."

To put it bluntly, Americans played fast and loose with the dollar during the 1960s. They started printing and spending far beyond what their actual gold reserves could support—before that famous 'run on gold' hit, they held roughly 16,000 tons. Because gold was pegged strictly to the dollar, things got messy. They used those dollars as a 'hard currency' to snap up various European industries. This prompted the French Finance Minister at the time, Valéry Giscard d'Estaing (who later became President of France), to coin that famous phrase: exorbitant privilege. Essentially, after observing their tactics, the French began trading their accumulated dollars for gold at the fixed rate. This drained the US reserves, cutting them nearly in half—down to about 8,000 tons—just before the Nixonian move to 'temporarily' suspend the ability to exchange dollars for gold at the agreed price. Following that, the Kissingerian concept of the petrodollar emerged. It was a necessary pivot to replace the old Bretton Woods model of a gold-backed dollar at a fixed rate. It worked, and it worked quite effectively for a very long time.

Carl Flores5 said:The marina staff doesn't have any authority or legal obligation here. This looks like a classic case of passing the buck and muddying the waters—they're probably trying to frame the sailor who caught them red-handed as the main culprit.

Sure, they're shifting blame, but it’s incredibly suspicious that nobody at the marina "noticed" a massive yacht under sanctions just vanishing. Maybe they assumed there was some permit for it to move elsewhere, but for absolutely no one to ask questions? For the sailor not to tell the manager, and the manager not to react... especially when there are only a handful of these sanctioned yachts in the entire US.

And it’s even weirder that it sailed out of the country without a single hitch. Who knows which of these reports are accurate, but someone definitely helped bypass those sanctions.

Besides, in many places, there aren't even strict penalties for breaking sanctions... which just makes it easier for oligarchs to bribe the right people.

Anyway, these yachts are a huge headache because maintaining them is insanely expensive. It would be ideal if we could find a way to sell them and put that money toward rebuilding Ukraine.

https://www.marinenews.com/russian-yachts-are...expensive/

Just a few more bits of info—or half-info, anyway. 😁
https://usnews.com/news/coast-guard-report-1239295

Anthony Hill5 said:We have drifted entirely away from the subject, though perhaps we don't know much about it, do we? 😁

What is The CFA Franc
The CFA franc, backed by the French treasury and pegged to the euro, refers to both the Central African CFA franc (XAF) and the West African CFA franc (XOF), and is accepted in 14 member countries.

The CFA franc, backed by the French treasury and pegged to the euro, refers to both the Central African CFA franc and the West African CFA franc, and it's accepted in 14 member countries.

Understanding The CFA Franc
Understanding The CFA Franc The CFA Franc was created by Franc in 1945 and pegged to The French Franc. CFA franc can refer to either the Central African CFA franc, which is the official currency of six member nations and symbolized by the abbreviation XAF in currency markets, or the West African CFA franc, which is the official currency of Eight member nations and is symbolized by the abbreviation XOF in currency markets.

in theory , however , The French government or The monetary unions using The currencies could decide to Change The value of One or The other. Given that it has the responsibility of backing the CFA franc, the French treasury controls 50% of the foreign exchange reserves of all 14 CFA franc using countries

https://www.investopedia.com/terms/c...20CFA%20francs.

The gold standard was dismantled for several reasons, the most significant being the ability to exit recessions more easily, the creation of jobs, and the stimulation of economic growth. Furthermore, one must consider that nations lacking gold reserves find themselves at a distinct disadvantage compared to those that are wealthy in gold.

No, we haven't drifted. You're just trying to make it happen.

Look, the situation with the old currency systems was exactly why certain nations were motivated to ditch the system and move toward a gold-backed currency. That was Gaddafi's plan back when he headed the Pan-African Union (around 2009... before things went south in 2011). By the way, it isn't dead... I mean, the plan...

https://tfiglobalnews.com/2022/11/26...e-its-economy/

By the way, why did you pivot to the dollar and start obsessing over it? Your original claim was that Americans didn't unilaterally abandon the gold standard—even though they say they did—but rather that "countries left it." And that this whole thing is just a "popular conspiracy theory."

Send a link for everything you just said regarding why the gold standard was abolished. I provided a link for my own claim... twice! It’s right there from the Federal Reserve... clearly proving this isn't some "popular conspiracy theory."

dustytiger8 said:No, we haven't drifted. You're just trying to make it happen.

Look, the situation with the old currency systems was exactly why certain nations were motivated to ditch the system and move toward a gold-backed currency. That was Gaddafi's plan back when he headed the Pan-African Union (around 2009... before things went south in 2011). By the way, it isn't dead... I mean, the plan...

https://tfiglobalnews.com/2022/11/26...e-its-economy/

By the way, why did you pivot to the dollar and start obsessing over it? Your original claim was that Americans didn't unilaterally abandon the gold standard—even though they say they did—but rather that "countries left it." And that this whole thing is just a "popular conspiracy theory."

Send a link for everything you just said regarding why the gold standard was abolished. I provided a link for my own claim... twice! It’s right there from the Federal Reserve... clearly proving this isn't some "popular conspiracy theory."

The gold standard has been abandoned by every single advanced and developed economy on the planet, and frankly, it is all due to the very reasons I have already laid out for you above.

In the article you linked, it states the following:

The United States will purchase oil with Dollars: the USA is currently grappling with an unprecedented crisis defined by crushing debt, a plummeting currency, and the rapid depletion of its foreign exchange reserves. Given this dire situation, has the American government finally decided to pivot away from the dominance of the US dollar? It seems they are drawing direct inspiration from the historical precedents set by Zimbabwe.

So, we have reached a point where a bankrupt Ghana, having completely exhausted its foreign currency reserves, will be forced to settle its oil purchases using gold. Is this not the inevitable trajectory? When any nation finds itself stripped of its hard currency, it inevitably pivots toward barter and commodity exchange—typically as a desperate last resort once hyperinflation has already taken hold and dismantled the economy.

If you would simply take a moment to perform a cursory search regarding the inflation rates currently plaguing Ghana, you might actually arrive at a meaningful conclusion. Is it really that difficult to grasp? Their inflation has surged past the 50% mark.

Is anyone actually surprised that the economic situation in Ghana has spiraled into such a complete disaster? We are looking at inflation hitting a twenty-one-year peak, soaring past the 50% mark this November, and one has to wonder: how much longer can a nation endure such blatant fiscal mismanagement before the entire structure collapses under its own weight? Is it not patently obvious that when debt distress reaches these unprecedented levels, the consequences must eventually be felt by every single citizen? It is a staggering, almost incomprehensible figure, yet we watch as these crises unfold with a sense of weary resignation. How can any economy remain even remotely stable when the cost of basic survival increases at such a violent, unchecked velocity?

Is it not absolutely maddening to witness the sheer incompetence required to steer a nation toward such a precipice? We are looking at a situation where the USA is facing an unprecedented crisis marked by extreme debt distress, yet one must wonder: how did we allow ourselves to get here? When a country begins discussing radical shifts like purchasing oil with Dollars just to stay afloat, it signals a systemic failure of the highest order. Can we truly call our economic institutions stable when the very foundations of our fiscal policy seem to be crumbling under the weight of mismanagement? It is a question that demands a rigorous, perhaps even scathing, investigation into why our leadership remains so paralyzed in the face of such obvious catastrophe.

None of this bears any relevance to the subject at hand, so I shall withdraw from this discussion for the very reasons I previously outlined on the forums.

🙂

Of course... still no link to your original claim:

Anthony Hill5 said:This is nothing more than a laughable conspiracy theory. There is a very logical reason why every major economy in the world moved away from the gold standard.

Even if Gaddafi had tried, not a single nation across the African continent would have accepted his dinar, simply because it served no one's interests and offered no benefit to their own domestic economies. That is the end of the argument regarding Gaddafi being removed over some currency scheme.

dustytiger8 said:🙂

Of course... still no link to your original claim:

Good grief. Here, have a look at these:

Why a gold standard is a very bad idea

https://www.moneyandbanking.com/comm...-very-bad-idea

7 reasons the gold standard is a terrible idea

https://www.vox.com/2014/7/16/590029...-gold-standard

Why The Gold standard is The World's Worst Economic Idea, in 2 Charts

https://www.theatlantic.com/business...charts/261552/

That’s not how this works.
You’re playing it smart, dancing around the point, but you didn't actually say that. You claimed it wasn't just the Americans walking away from the deal in Botswana, but rather "nations of the world." You called this whole thing a "ridiculous conspiracy theory." Do you really want me to quote you again? 🙂

I don't need a link explaining why something is bad—thanks, though. I need to know why it was ACTUALLY terminated and who pulled the plug. Because that is exactly what your claim was about!

The world needs a stable, liquid currency—if the dollar vanished tomorrow, the global economy would just flatline. I mean, what are the Chinese supposed to do? Trade in Canadian Forints or Mexican Dinars? Besides Americans, the Chinese actually rely on a rock-solid dollar just as much.
So yeah, arguing about what happens if the dollar collapses is pretty much pointless.

Anthony Hill5 said:Good grief. Here, have a look at these:

Why a gold standard is a very bad idea

https://www.moneyandbanking.com/comm...-very-bad-idea

7 reasons the gold standard is a terrible idea

https://www.vox.com/2014/7/16/590029...-gold-standard

Why The Gold standard is The World's Worst Economic Idea, in 2 Charts

https://www.theatlantic.com/business...charts/261552/

These articles are about as intellectually honest as the Russian claims that those sending weapons to Ukrainians to defend themselves are actually the ones responsible for the war in Ukraine.

Roughly speaking, Nancy Gomez26... but let's stay on track! 🙂

dustytiger8 said:That’s not how this works.
You’re playing it smart, dancing around the point, but you didn't actually say that. You claimed it wasn't just the Americans walking away from the deal in Botswana, but rather "nations of the world." You called this whole thing a "ridiculous conspiracy theory." Do you really want me to quote you again? 🙂

I don't need a link explaining why something is bad—thanks, though. I need to know why it was ACTUALLY terminated and who pulled the plug. Because that is exactly what your claim was about!

At no point did I ever assert any of the things you are attempting to pin on me (emphasis added). I was simply providing an answer to the specific question you posed.

Here is the quote:

dustytiger8 said:It isn't a conspiracy theory, let alone a ridiculous one. You can find books from the 70s detailing the state of the Federal Reserve, the issues with dollar liquidity, and the problems surrounding the gold standard...

The Federal Reserve knows. You will probably agree (check the bibliography at the bottom of the article):

https://www.federalreservehistory.or...rtibility-ends

"...The deteriorating U.S. balance of payments, combined with military spending and foreign aid, resulted in a large supply of dollars around the world. Meanwhile, the gold supply had increased only marginally. Eventually, there were more foreign-held dollars than the United States Had Gold. The country was vulnerable to a run on gold and there was a loss of confidence in the U.S. government’s ability to meet its obligations, thereby threatening both the dollar’s position as reserve currency and the overall Bretton Woods system. ..."

So, what is this supposed "reason" why all the world's economies abandoned the gold standard?

You aren't following. I didn't mention "Gaddafi's dinar." I was talking about an African gold standard. An attempt was made. They have the so-called CAF—the Central African CFA franc—which served as the nucleus of that principle. Seven Central African nations use it.

Nathan Thomas12 said:The world needs a stable, liquid currency—if the dollar vanished tomorrow, the global economy would just flatline. I mean, what are the Chinese supposed to do? Trade in Canadian Forints or Mexican Dinars? Besides Americans, the Chinese actually rely on a rock-solid dollar just as much.
So yeah, arguing about what happens if the dollar collapses is pretty much pointless.

Man, if the dollar actually goes under, we’re already dealing with a total global meltdown. At that point, worrying about what the next world currency will be isn't even in my top 100 problems.

Thomas Walker84 said:Sure, they're shifting blame, but it’s incredibly suspicious that nobody at the marina "noticed" a massive yacht under sanctions just vanishing. Maybe they assumed there was some permit for it to move elsewhere, but for absolutely no one to ask questions? For the sailor not to tell the manager, and the manager not to react... especially when there are only a handful of these sanctioned yachts in the entire US.

And it’s even weirder that it sailed out of the country without a single hitch. Who knows which of these reports are accurate, but someone definitely helped bypass those sanctions.

Besides, in many places, there aren't even strict penalties for breaking sanctions... which just makes it easier for oligarchs to bribe the right people.

Anyway, these yachts are a huge headache because maintaining them is insanely expensive. It would be ideal if we could find a way to sell them and put that money toward rebuilding Ukraine.

https://www.marinenews.com/russian-yachts-are...expensive/

Just a few more bits of info—or half-info, anyway. 😁
https://usnews.com/news/coast-guard-report-1239295

Oh, they definitely noticed! The staff knows exactly when every single vessel pulls into the marina and when they head back out. And let's not forget, the local police and Coast Guard have their own boats stationed right there in the same marina—they probably watched them sail right past! I really don't see how the marina staff can be held responsible here. Unless, of course, the local sheriff appointed the crane operators or the electricians as his deputies and they were too busy being "officers" to notice a giant yacht slipping away. 🙂