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Oil price crash. What does it mean? Will the Global genie be unleashed?
Does the much awaited #USDollarCrash will happen now? It is certainly pointing towards that. Are we prepared? 1/n
Does the much awaited #USDollarCrash will happen now? It is certainly pointing towards that. Are we prepared? 1/n
In 1945 after WW2 USD was made global reserve currency for international trade and it was backed by gold. Any country running a trade surplus can redeem gold from US. No problem till 1971 when Nixon abolished gold standard. 2/n
Through back door shenanigans and backed by its militaey US forced the oil trade of the world to done ONLY through USD thus creating an artificial demand for the printed papers. Anybody breaking this protocol were militarily devastated. Iraq and Iran are the examples. 3/n
Since all countries needed oil, they had to either earn money through surplus exports in USD or borrow USD at usurious rates from the cartels like WB or IMF. Also the competition to bottom by countries ensured every currency was voluntarily depreciated by their governments 4/n
in order to earn more of the USD to pay for their ever increasing oil imports. The oil producing countri6running the surplus invested their money back in US to earn negligible interest as being the only buyer they could dictate the terms to the depositors. 5/n
This resulted in global colonization without firing a bullet overtly. Everybody was forced to accumulate worthless papers with their sweat and blood which was making them worse than slave laborers under colonial powers in preceding 3 centuries. 6/n
Again they used the natives to accomplish their agenda. Under colonization they recruited native soldiers to suppress the natives. Under the US hegemony they recruited and trained native economists in orgs like WB and IMF and sent them around the world in various capacities 7/n
like central bank governors or economic advisors or key finance ministries and in some cases they made them even heads of states to implement their agenda of depreciating their native currencies without respite. Even if nationalistic govts came the inertial power was so high 8/n
they found it near impossible to arrest the slide. Their success was partially due to two aspects. The simple economics was made so convoluted and abstruse that even best brains couldn't penetrate the financial maze where everyone was caught and they rewarded the native 9/n
financial traitors handsomely in exchange for making them the face for their decisions. And two, they made the quinyessential American problem of few as the problem for many and made the situation such that the victims will fight to keep this injustice to perpetuate. 10/n
An example is Indian software employees. What will the lakhs employed in the industry do if the exchange rate becomes say 20 rs to a dollar? Or the manufacturing industry workers? They will action do the fight for American bankers instead of their military. Cool. 11/n
But all these things are unraveling now. When crude oil reaches 40$ it just covers the production cost. If it goes below that line, the oil exporting countries will take out their deposits with American govt to run their countries. If it falls below 20$, that is level 12/n
reached now it is happy times for all the oil importers. They won't need USD that much and their currencies will start appreciating. If it sustains for more than 6 months the American empire will crumble to dust. Of course it will have reverberations throughout the world 13/n
It is better to let it happen and uplift the masses than allow the slavery to continue for the benefit of 2 to 3 % of our citizens. It's time for people who have jobs due to weak currency to seriously think about their life as it is going to change abruptly. 14/n
The biggest challenge for the governments is not about handling Corona virus or current joblessness. It is far more serious. The way the economists run the globe is going to change forever. End. n/n
