Another nail in the petrodollar's coffin?

Vladimir Putin may have sunk another nail in the coffin for the petrodollar after claiming

“We are leaving the dictatorship of the market where oil is priced in dollars and will increase the possibilities of using the ruble and the yuan,”

the russian president states he

won’t kowtow to the “dollar dictatorship” in world oil markets

www.forbes.com...
And apparently not happy with the status quo

Russia recently signed a number of agreements with China after an official visit to the country by Xi Jinping, China’s president. The two countries are also linking up their securities exchanges in order to create hedge operations in both ruble and yuan.

It would seem slowly but surely the power of the petrodollar is waning.

a reply to: phoenix9884

History shows that corrupt regimes fall eventually. America and its dollar can't last forever. It might have if America had used its wealth and power after WW2 to build a better world rather than to impose hegemony.

a reply to: phoenix9884

I know many here won't like what I'm about to say but Obama is weak when it comes to our Foreign Policies
He has ruined our 'Super Power' image

Putin has no respect for the Obama as a Leader nor is he afraid of him...that is not good
But so many other countries also see Obama as failing and weak

2016 won't come soon enough where our Foreign relationships are concerned

Hope the next President has more of a spine to stand up to countries like Russia

It looks like the world is getting tired of the west dictating how everything is done. The end of the road for the mighty dollar is drawing near .

originally posted by: tavi45
a reply to: phoenix9884

History shows that corrupt regimes fall eventually. America and its dollar can't last forever. It might have if America had used its wealth and power after WW2 to build a better world rather than to impose hegemony.

the corruption runs so deep its hard to tell what may have come. If you want to believe some, America's demise began on December 23rd 1913. The day central banks bound us again in the same chains of debt we fought so long to escape. Some believe that's when our freedom truly died.

Along with the waning of the Petrodollar will be the power of the Arab oil producing countries. Their monarchies won't be able to keep the order propped up with social spending and the religious extremists will prompt revolutions. America's day in the sun is fading fast and along with it our almighty dollar. Should the bottom fall out on it you can count on open martial law being the order of the day.

originally posted by: snarky412
a reply to: phoenix9884

I know many here won't like what I'm about to say but Obama is weak when it comes to our Foreign Policies
He has ruined our 'Super Power' image

Putin has no respect for the Obama as a Leader nor is he afraid of him...that is not good
But so many other countries also see Obama as failing and weak

2016 won't come soon enough where our Foreign relationships are concerned

Hope the next President has more of a spine to stand up to countries like Russia

Maybe the world things he's weak because conservatives have been calling him weak from day one. Domestic politics become geopolitics when the nation is America.

What do you think he should have done to maintain our superpower status? Invaded Russia? Killed Assad? Nuked someone?

You do realize that most of the problems today in foreign policy stem directly from our warlike nature right? Russia wouldn't be so pissed if we hadn't casually destroyed numerous nations since 9/11 in our bid for world domination. Iraq and Afghanistan under Bush and Libya under Obama led directly to Russia being wary. The manipulations and interference in Syria and Ukraine were just the last straws.

I'm not even a fan of Obama but it's sick the hatred he gets. If you were president what would you do to keep America strong on the global stage?

originally posted by: phoenix9884

originally posted by: tavi45
a reply to: phoenix9884

History shows that corrupt regimes fall eventually. America and its dollar can't last forever. It might have if America had used its wealth and power after WW2 to build a better world rather than to impose hegemony.

the corruption runs so deep its hard to tell what may have come. If you want to believe some, America's demise began on December 23rd 1913. The day central banks bound us again in the same chains of debt we fought so long to escape. Some believe that's when our freedom truly died.

I agree completely but America's problems became the world's problems after WW2 when we started engaging in massive global manipulation and conflict using intelligence agencies, economic means, and outright war.

Just imagine if we had been less selfish. Just take Latin America alone. Imagine if we shared our wealth and technology with them instead of oppressing and manipulating them. We would have two continents dedicated to freedom, democracy, and progress. Instead we have 0 continents dedicated to those ideals.

When America changes its stance on oil to Natural Gas, the petro dollar will mean nothing. Imagine the turmoil in the middle east without petro dollars to prop it up.

Take the oil for as long as you can. Control the market for as long as you can. Then leave it in the dust.

All I can do is laugh.

I have the utmost faith in the US dollar. After all, it's backed by the gold in Fort Knox!

Unless of course, one believes the theory that it doesn't exist since it was confiscated by the secret government when the world abandoned the gold standard.

Then I have the utmost faith is the manufacturers of Charmin.

On second thought, I'll go with the latter.

The day that quantitive easing started to prop up the crumbiling infrastructure with duct tape was the day the American petrodollar started dying its only so long before China brings America to its Knees and thats why Russia is following China like a fat kid running after a sausage 3 feet infront of him Russia wants some glory in bringing America down.

We have now become the Charmin of the world!!

a reply to: snarky412

For me that looks like the planned script. Use Obamas weak image to claim America were being attacked due to being weak, step up hard line republican prepared to all out war to fight for the great old USA.

It makes me angry being from Ireland when people say its the Americans doing this and the Americans who are corrupt. NO its not America but the fact that America has been hijacked by the same corporations and big banks that they once thought would make it great. Its this small handful of people doing this. The same in Israel, the same everywhere. People don't want war, hostility etc, people want peace and happiness. They want a higher quality of life which is being taken away for military budgets. So don't say Americans because no matter what your opinion is the American people are the greatest modern people on the planet, this is from an irish man.

Wait till we put it in a paper bag, light it on fire and put it in front of your door.

originally posted by: liteonit6969
a reply to: snarky412

For me that looks like the planned script. Use Obamas weak image to claim America were being attacked due to being weak, step up hard line republican prepared to all out war to fight for the great old USA.

It makes me angry being from Ireland when people say its the Americans doing this and the Americans who are corrupt. NO its not America but the fact that America has been hijacked by the same corporations and big banks that they once thought would make it great. Its this small handful of people doing this. The same in Israel, the same everywhere. People don't want war, hostility etc, people want peace and happiness. They want a higher quality of life which is being taken away for military budgets. So don't say Americans because no matter what your opinion is the American people are the greatest modern people on the planet, this is from an irish man.

Thanks -- it's cool to get a person's perspective from the outside looking in, being as you're from another country so no personal political agenda involved

originally posted by: Asktheanimals
Along with the waning of the Petrodollar will be the power of the Arab oil producing countries. Their monarchies won't be able to keep the order propped up with social spending and the religious extremists will prompt revolutions. America's day in the sun is fading fast and along with it our almighty dollar. Should the bottom fall out on it you can count on open martial law being the order of the day.

Even if the Arab countries run out of oil, they still have the opportunity to develop solar power farms and export that energy in the form of power lines or batteries. Then again, solar panel technology might move faster.

originally posted by: tavi45
a reply to: phoenix9884

History shows that corrupt regimes fall eventually. America and its dollar can't last forever. It might have if America had used its wealth and power after WW2 to build a better world rather than to impose hegemony.

What would have been a good alternative? Considering the two world wars and the Soviet Communists idea of hegemony at work?

a reply to: tavi45

Maybe the world things he's weak because conservatives have been calling him weak from day one. Domestic politics become geopolitics when the nation is America.

Do you realize that anytime someone says something negative about Obama, the first thing you do is bring up Conservatives/Rep

Obama is weak because he is like a kid in school, afraid to stand up to the bully and Putin knows this. Guys like him can smell it and pounce when they can. Surely you've seen all the pictures of Obama and his piss poor body language like he's scarred of Putin. Not good

If one can't stand up to other leaders of importance, then they do not need to lead

What I have for Obama is not hate
It is not hate when one disagrees with another or their actions
Why certain groups of people jump on that word when they don't like what is being said, I haven't the foggiest idea

But Putin knows he can push Obama around, that is not good
Hillary would be better at Foreign Policies than him, I'll give her that

And it's kinda pointless to ask someone like me what I would do as president
Why deflect the topic to me when I'm not the one in the Oval Office nor will I ever be?
Like I really matter....pffft

a reply to: snarky412

Np I can see something similar happening here in Ireland (Belfast). The two main parties are pretending to hold government when in reality nothing is being done and every problem is due to the other side. This plays on the inbred hatred the people have for the opposing group. But now that hatred is dying out as the next generation just want to live in a successful and peaceful country/world. But this will not happen as each political party (backed by the money men) will use the past to dictate the future.

On a side note, one of these parties I will not name claim to only take a living wage. However it comes as no surprise that these formally uneducated ex prisoners are now driving around in high end BMW's and live in luxury houses. But its we the people who keep them there

a reply to: tavi45

Just saw an excellent Documentary that brought is to where we are today and explains a lot.
It is rather long but can give a summary if people like:

The petrodollar has been around since the first oil embargo back in 1973. It is about time some country tries to break the grip of OPEC. Before we started importing oil, American refiners where doing just fine on their own. Price of gas at the pump was reasonable, I was paying about $.50 a gallon. Then overnight the price almost doubled. It has not been the same since.
We need to be independent, and not import any oil at all. We make enough fuels to support ourselves.