PPRuNe Forums - View Single Post - Mildura Rednecks wreck our fair go reputation
Old 4th May 2020, 03:10
  #106 (permalink)  
KABOY
 
Join Date: Feb 2006
Location: Bottom of the Harbour
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The entire way of life in America can only exist as a result of the US selling its debt in the form of US Treasuries, debt that now stands at almost 25 trillion and growing more rapidly every year.

This creates an imperative whereby large scale trades, particularly oil, must be conducted in US dollars, a status quo that has existed since the gold window closed in 1971 thereby turning the US dollar into a de facto oil backed currency.
You seem to have lost track of the last decade with emerging economies and trade.

You have gone completely off topic with your petrodollar rant. Let's talk about peak oil, renewable energy and the fact America has become a net exporter of oil thanks to shale. The Petrodollar is under attack, forget weaponising Saudi Arabia who has now sat down with the Russians to scale bag production and stop the next negative oil price, which looks like occurring again when the next WTI contracts fall due.

Anyway, let's look at the definition of globalisation.

the process by which businesses or other organizations develop international influence or start operating on an international scale.
So you do realise there are other economies, not just the USA who engage in global trade. The greatest influencer has now become China, exporting deflation for the past decade. There are no guns in globalisation, just economies like China who are modernising their military thanks to global trade and now making territorial claims way beyond their own borders and deemed unlawful by an international tribunal.

Have you taken into account the Vietnamese sailors that have drowned from Chinese coast guard vessels patrolling this disputed area under the jurisdiction of the CMC. But that's not a bodycount in your language right? Drowning when your vessel is rammed is death by natural causes.

Last edited by KABOY; 4th May 2020 at 08:17.
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