#21 ·
Timothy Nelson5 said:🤦
The Petrodollar? Hmm... was that before or after the gold standard? 🤔 Probably after mercantilism... I guess...
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Anyway, it's just some historical term...
My suggestion? Maybe wake up to the 21st century and realize the USA is now the biggest producer and net exporter of oil and gas. Plus, the IT industry is basically the engine driving everything.
The whole Petrodollar concept is fifty years old, and nowadays, the only people still obsessing over it are those salon-dwelling blowhards spinning their little fantasies. It's as if certain cultural Marxist economic theorists—which is an oxymoron if you ask me—have elevated it to some kind of cult object, the ultimate scapegoat for all the world's problems. And now, they just can't cope, so they keep seeing this phantom threat in every nightmare.
If you look at how the economy and the global financial system have shifted since it was created, the petrodollar actually covers way more than just "petro." Half of all trade transactions and two-thirds of all global securities are denominated in dollars, making it the absolute backbone of modern currency—but let's be real, it's being eroded. China is offering its own currency as an alternative, and we're seeing a massive trend of countries trading in their own local currencies instead. If dollar volume drops significantly, people are going to start asking what's actually backing those dollars, and that's where the USA runs into huge trouble. Look at the gutted manufacturing base compared to the 60s, the massive infrastructure decay, and the elephant in the room: the US national debt, which has blown past every limit and gone straight to the moon (I stopped tracking the exact number, but it's somewhere north of $34 trillion). That should be enough problems for one conversation...
So, I wasn't even going to mention oil and gas. Maybe I should have just said "the dollar," but "petrodollar" is still the go-to phrase in geopolitical circles and carries enough nuance that I wasn't wrong—even if you didn't catch my drift. Geopolitics is a discipline that goes way beyond the rambling of liberal salons. The petrodollar transcends your narrow view, and honestly, don't limit yourself like that; it makes you look like a quasi-Marxist, whether you mean to or not... or do you?.....
By the way, just so you know who you're talking to: by definition, I'm a salon-style American nationalist and conservative. Just thought I'd give you a heads-up so you can skip the whole "Red Scare" lecture with me.....
Given the geopolitical reasons I mentioned earlier and the current state of the petrodollar, it's obvious the Anglo-American establishment is going to trigger a crisis as a response. It’s the only logical move. They still control global finance, and through that, they can throw the heaviest punches at their rivals—they did it plenty of times during the 20th century, like during the Great Depression era, to hit their targets or hold their ground. But doing it today will be harder than ever, and I'm not even sure they'll pull off their long-term goals. In fact, I think once the initial shock wears off, total Anglo dominance will become a thing of the past, ushering in a true multipolar era. Just look at how much gold China, Russia, and everyone else have been hoarding over the last 15 years—everyone is just waiting for this move to happen.