Destruction of the US dollar

[devil21]

I have no personal knowledge of whether this is true or not but thought it interesting. A claim that the Saudi oil-dollar peg (petrodollar) agreement sunsets officially on 6-9.
https://x.com/summ116/status/1796618863599370263

According to Nixon's daily schedule, a whole bunch of OPEC types and other bigwigs were at the White House on 6-6-74, then days later he (with Henry Kissinger by his side every step) went to Saudi Arabia. The timing certainly lines up if it were a 50 year agreement.
https://www.nixonlibrary.gov/sites/d...-15%201974.pdf


Saudi Aramco is making a public share offering around the same time
https://www.argaam.com/en/article/ar...ail/id/1731948

[oyarde]

Brent crude 81.6 , one yr forecast 90 , West Texas lite sweet crude 78.62. Seems like a bargain if you consider oil was 32.56 in yr 2000 , national debt was 5 trillion ( about 34.8 now), new median ome was 164k (412k now) number in US work force about same , GDP avg was about 1.9 from 2000 to 2023, median income went 31k to 39k

[oyarde]

West texas down 6 percent

[dannno]

I have no personal knowledge of whether this is true or not but thought it interesting. A claim that the Saudi oil-dollar peg (petrodollar) agreement sunsets officially on 6-9.
https://x.com/summ116/status/1796618863599370263

According to Nixon's daily schedule, a whole bunch of OPEC types and other bigwigs were at the White House on 6-6-74, then days later he (with Henry Kissinger by his side every step) went to Saudi Arabia. The timing certainly lines up if it were a 50 year agreement.
https://www.nixonlibrary.gov/sites/d...-15%201974.pdf


Saudi Aramco is making a public share offering around the same time
https://www.argaam.com/en/article/ar...ail/id/1731948

[devil21]

I have no personal knowledge of whether this is true or not but thought it interesting. A claim that the Saudi oil-dollar peg (petrodollar) agreement sunsets officially on 6-9.
https://x.com/summ116/status/1796618863599370263

According to Nixon's daily schedule, a whole bunch of OPEC types and other bigwigs were at the White House on 6-6-74, then days later he (with Henry Kissinger by his side every step) went to Saudi Arabia. The timing certainly lines up if it were a 50 year agreement.
https://www.nixonlibrary.gov/sites/d...-15%201974.pdf


Saudi Aramco is making a public share offering around the same time
https://www.argaam.com/en/article/ar...ail/id/1731948

Posted over on ZH: NYT archive of the news of the petrodollar agreement signing at the WH which lines up perfectly with the Nixon schedule above.

https://www.nytimes.com/1974/06/09/a...laimed-by.html

Notice that this all took place during the waning days of Watergate and the last days of Nixon's presidency. Circus for the sheeple to fill up airtime while the serious business took place? 2 months later Nixon exited stage left "in disgrace".

Has that theatrical playbook really changed at all since then?

[oyarde]

one yr forecast 86, brent crude under 80

[Bern]

Nothing will happen suddenly. KSA is playing USA and BRICS against each other to extract as much leverage from each as it can.

The Biden administration is close to finalizing a treaty with Saudi Arabia that would commit the U.S. to help defend the Gulf nation as part of a deal aimed at encouraging diplomatic ties between Riyadh and Israel, the Wall Street Journal reported on Sunday, citing U.S. and Saudi officials.
...
Approval of the treaty, which the WSJ said would be known as the Strategic Alliance Agreement, would require a two-thirds majority vote in the U.S. Senate, a threshold that would be difficult to achieve unless the treaty were tied to Israeli-Saudi normalization.

The draft treaty is modeled loosely on Washington's mutual security pact with Japan, the newspaper cited U.S. and Saudi officials as saying.

In exchange for the U.S. commitment to help defend Saudi Arabia if it were attacked, the draft treaty would grant Washington access to Saudi territory and airspace to protect U.S. interests and regional partners, the newspaper reported.

It is also intended to bind Riyadh closer to Washington by prohibiting China from building bases in the kingdom or pursuing security cooperation with Riyadh, the WSJ quoted officials as saying.
...

https://www.msn.com/en-us/news/world...ts/ar-BB1nUvgl

... and keep the petrodollar trade in place ...

[devil21]

Nothing will happen suddenly. KSA is playing USA and BRICS against each other to extract as much leverage from each as it can.



https://www.msn.com/en-us/news/world...ts/ar-BB1nUvgl

... and keep the petrodollar trade in place ...

Where is the bolded part even so much as hinted at in the article? Treaties are all well and good but nothing in the article suggests a continuation of the petrodollar standard, which is more or less the linchpin of this whole thread.

Also, I question the timing of the article since it's released right after the 6/9 stuff has started spreading. I'd appreciate posting some evidence that the treaty has been in the works for a while so that the article posted can't possibly be dismissed as merely damage control/diversion.

[Bern]

Where is the bolded part even so much as hinted at in the article?

That was my comment. It's (IMO) the quid pro quo payment from KSA for the USA to be their enforcer in the region.

See also:

https://www.pmbug.com/threads/tin-fo...75/post-103073

[devil21]

That was my comment. It's (IMO) the quid pro quo payment from KSA for the USA to be their enforcer in the region.

See also:

https://www.pmbug.com/threads/tin-fo...75/post-103073

So.....in other words......you got nothin'

Thanks for playing.

[Bern]

Sorry. I thought this was a forum for discussion where we shared thoughts. My bad.

[devil21]

Sorry. I thought this was a forum for discussion where we shared thoughts. My bad.

Don't take it personally. This has been a pet thread of mine for 15 years (you should understand that as a 2007 date, also) so pardon if a random unquoted pmbug.com forum selection, without any context, written by who-the-$#@!-knows-who, doesn't much impress me.



eta: especially with teh collinz forum sliding with weak posts. little people are good at being sideshow distractions and powerless minions.

[Swordsmyth]

Don't take it personally. This has been a pet thread of mine for 15 years (you should understand that as a 2007 date, also) so pardon if a random unquoted pmbug.com forum selection, without any context, written by who-the-$#@!-knows-who, doesn't much impress me.



eta: especially with teh collinz forum sliding with weak posts. little people are good at being sideshow distractions and powerless minions.

He's right and you are wrong, but your hate blinds you.

[Bern]

Don't take it personally. This has been a pet thread of mine for 15 years (you should understand that as a 2007 date, also) so pardon if a random unquoted pmbug.com forum selection, without any context, written by who-the-$#@!-knows-who, doesn't much impress me.
...

You aren't the only one for which this issue has been a decades long pet issue. For many years, I used to have a signature link to this epic thread:

https://www.pmbug.com/threads/tin-fo...ive-vortex.75/

For the record, *I* am PMBug (that is my website). My forum avatar should have made that obvious if you never saw my signature links or the announcement thread.

My previous post contained a link to a post that included two citations to articles/reports that explained the situation with the USA/KSA relationship in some detail. I'm sorry I didn't copy/paste everything directly for you, but I was posting from my phone and editing/composing posts like that is nearly impossible on my phone.

Also, more of my comments if you care (for an actual discussion):

https://www.pmbug.com/threads/tin-fo...75/post-104041

[devil21]

Given Collinz obvious post sliding nonsense I thought more relevant threads should be bumped.

[devil21]

BRICS Summit time again soon. Details about the BRICS monetary unit are emerging. 40% gold peg confirmed.

https://tass.com/economy/1839865

The Unit project assumes that the value of the common unit of account is pegged by 40% to the value of gold, and by the remaining 60% to a basket of national currencies of the BRICS countries.
........................
The BRICS summit in Kazan is scheduled for October 22 through 24.

Gold revaluation probably happening around that time. How it may/will translate into dollar terms and the fate of the dollar remains to be seen. No denying that gold and silver and pretty much everything is undergoing revaluation.

[acptulsa]