Jackass' Red Glare Upon The Petrodollar

145

For your holiday listening pleasure, Jim Willie returns for a comprehensive discussion of the petrodollar and how current events around the Arabian Peninsula are a sign of great distress for this monetary scheme.

Again, what is the "petrodollar". The idea was championed by Henry Kissinger in 1973 as a way to create ongoing demand for US dollars by maintaining the pricing of crude oil in dollars only. The effects of this were two-fold:

  1. To create constant demand for dollars...dollars which were now completely unhinged from any gold backing...and this demand would soak up any excess supply of new currency being printed in the US for military and social purposes.
  2. To force oil-exporting nations to keep their foreign currency reserves in dollars, thus creating an ongoing demand for US treasury bonds. This constant demand for bonds would help to keep interest rates...and thus the US debt service cost...unnaturally low.

As a result, any threat to this system, whether it has come from Iran, Iraq or Libya has been squashed either politically or militarily over the past 40+ years. The current flare-up of tensions between Saudi Arabia and Qatar must be viewed through this prism and that is the primary topic of this 47-minute discussion.

To that end, please be sure to review these links while you're listening:

I hope that you find this helpful and informative. Thanks for listening.

TF

  145 Comments

Marcrward
Jul 3, 2017 - 9:08am

Silver

Get some!

chrtoo
Jul 3, 2017 - 9:17am

Bronze.

Thanks Craig!

SoBlack
Jul 3, 2017 - 9:18am

4th

thanks 


Jul 3, 2017 - 9:19am

Today's action

Quite obviously, what we feared back on Friday is playing out today.....a bounce in the POSX spikes the USDJPY through 113 CDG gets smashed down through the 200 day AND the 2017 trendline.

Definitely NOT a welcome development and, with the new quarter beginning and the BLSBS looming for Friday, it sets up a rather critical week.

canary
Jul 3, 2017 - 9:24am

Pre-holiday massacre...

Deliberately manipulated USD/JPY...Stop sales triggered...Everything done on absolutely no news.....

I feel like climbing K2 for real now.

murphy
Jul 3, 2017 - 9:25am

Blyth

Smartest guy in the room!

Prof. Mark Blyth PhD - Great lecture about Economies, Trumpism, Regimes, Germans, Americans
Mr. Fix
Jul 3, 2017 - 9:28am

1st... Happy Independence Day.

What are the odds I'd get to say that twice in one weekend? 

If you live in the United States, and participate in its systemic slavery matrix, your independence is just an illusion.

Without constant production for your slave masters, your life expectancy is surprisingly short.

And even if you pay the man a massive percentage of what you earn, he'll always come back for more.

I encourage my fellow residents of Turdville to unplug from the system, in every way possible.

This system could not be maintained, if it was simply ignored. 

Politics is just a diversion, it sucks you in, and makes you think it's important. It's not. They are only professional thieves.

Our banking institutions serve only one purpose, to steal your money. Don't keep yours there.

Participate in your local black market, wherever, and whenever possible.

If you think it's your moral obligation to participate in a Satanic empire of lies, and pay your "fair share",

It is you who is helping to finance the evil that runs our planet.

Get your head on straight, and find your freedom.

And don't be afraid to express your gratitude to Craig for maintaining this bastion of liberty, where the free and open exchange of ideas and information is still available. Turdville is solid gold.

Enjoy your friends, and enjoy your family this holiday, while you discuss, and contemplate the true meaning of independence, liberty, and freedom.

Be the change you want to see you in this world, 

It starts with you.

NUGTCALL
Jul 3, 2017 - 9:53am

FWIW I bought silver today

Traded $60,000 fiat shit dollars for a limited finite supply of the physical cold shiny metal. My unborn Grandkids are going to think grandpa was a fucking genius, someday.

petedivine
Jul 3, 2017 - 9:54am

Gold and silver monkey hammer

Gold and silver getting monkey hammered this morning. Just backed up the truck and feeling pretty damn good about it. FYI..used bitcoin to purchase it. First time I've ever bought anything with it. It was an interesting transaction. I like the idea of bypassing the banks. 

Marcrward
Jul 3, 2017 - 10:03am

NUGTCALL

GENIOUS TODAY!

death to the debt digits!

AgAuMan
Jul 3, 2017 - 11:04am

PM's slammed again today....

Is this because Andrew Maguire is right? Is something going to happen the day after tomorrow?

flipper22
Jul 3, 2017 - 11:10am

Picked Up Some Silver On Sale

Just picked up 40-AE's and 40-SMI Rounds...What a beautiful sale on silver today!!!!

abundance
Jul 3, 2017 - 11:13am

pm dealer closed on Mondays..shucks..however

here is London Paul..been listening to him since he started

very informative imo

The Sirius Report with London Paul (07/03/2017)
brentb
Jul 3, 2017 - 11:16am

Day after Tomorrow No

I think it is after th 8th of July . Not the 5th. It may only start what is going to happen.

Blythesshrink AgAuMan
Jul 3, 2017 - 11:21am

Andy Maguire has stated that

Andy Maguire has stated that we'll see a big increase in physical demand from the 5th (assuming we've calculated that 26 days correctly) - he also said that the banks know it's coming - so stands to reason if he's right that they'd try and cover as many shorts and go long beforehand - e.g. by massively ramping the USD/Yen to suck specs in short.

You'd like to think that if anything had changed regarding timing then he might have tweeted something or done another 'tremendous' release with Eric King - so can only assume that it's still on the cards.

At least we'll know shortly. The other scenarios for the whack job could be the Fed Minutes being more dovish than expected or the jobs data being about to miss massively.

Hard to imagine we go much lower (he said whilst looking beseechingly to the Heavens) assuming the COT was right as the banks were in big buying silver. I suspect this is more about cleaning out the gold COT further right now although silver is obviously down big.

scoremore
Jul 3, 2017 - 11:23am

GSR up...

Tempted to convert some Au to Ag.

abundance
Jul 3, 2017 - 11:33am
104365 AgAuMan
Jul 3, 2017 - 12:12pm

Is this because Andrew Maguire is right?

More fuel for the fire....... Hopium, over here!

matt_
Jul 3, 2017 - 12:31pm

GSR...

In the short term, it looks to me that silver is gaining on gold:

https://stockcharts.com/h-sc/ui?s=%24GOLD%3A%24SILVER&p=D&yr=0&mn=6&dy=0...

chrtoo
Jul 3, 2017 - 12:48pm

GSR Up... @scoremore

I was able to do that type of trade, several months ago, when the GSR was at 80 (which made calc easier). I traded like-for-like (no cash involved):

< .999 Au for Junk Ag

.999 Au for .999 Ag

>.999 Au for >.999 Ag

I would use Kijiji where typically you would reach and get reaction from others who trade PMs. I am familiar with this marketplace, in my city and did trades with people I had previously dealt with on PMs.

YMMV.

H4oJ, America!

CHR.

JQuest
Jul 3, 2017 - 1:07pm

NASDAQ & S&P...

Dumping BIG time...

silver10sguy
Jul 3, 2017 - 1:09pm

The Best Part of a Holiday

The best part of a holiday is Turd and Jim Willie. Secondly, I am also thinking of Andrew Maguire's prediction in July. Third, can't wait to buy more junk silver later.

Outback
Jul 3, 2017 - 1:16pm

Another WHIPPING DAY

How can anyone think they can BUY silver or the Miners Cheap

with the BANKS around to KICK the shit out of you after you think 

you bought cheap. Ain't NEVER going to be cheap as long

as the BANKS CONTROL the game.

you are all SUCKERS.

outback

TF Metals fan
Jul 3, 2017 - 1:25pm

wife

Was in the room with Jim on the audio for the first time in the many years. Her comment: 'that is a ray of sunlight......' smiley

tfever
Jul 3, 2017 - 1:27pm

Question if Radio guest talk about crypto?

Then are we allow to response in the thread?

Outback
Jul 3, 2017 - 1:28pm

Silver has NO BOTTOM

turd With the BANKS controlling price, SILVER has no bottom. They have the freedom to move it as low as they want. Turd, who is going to STOP them? There is no market Now days. Time to admit it. All this hokey pokey about the yen is a waste of time. Outback

tfever
Jul 3, 2017 - 1:40pm

Wait for it

IT depend if AM got the new that China/Russia ready to have they own physical exchange pricing on July 5 (ABX) and July 10/11 (HKMEX) and ready to Arbitrage away the fraud.

They can start or not that is the question?

jaw777
Jul 3, 2017 - 1:44pm

Outback

As my broker says... "It can't go below zero"

canary
Jul 3, 2017 - 1:52pm

OI (final)

Gold Future +7,873 (total 460,557)

Silver Future +171 (total 201,056).

billhilly
Jul 3, 2017 - 2:01pm

Monday much needed "funny"...

Two billhillies walk into a restaurant. While

having a bite to eat, they talk about their

moonshine operation.

Suddenly, a woman at a nearby table, who

is eating a sandwich, begins to cough.

After a minute or so, it becomes apparent

that she is in real distress. One of the

hillbillies looks at her and says, Kin ya swallar?'

The woman shakes her head no.

Then he asks, 'Kin ya breathe?'

The woman begins to turn blue and

shakes her head no.

The hillbilly walks over to the woman,

lifts up her dress, yanks down her

drawers and quickly gives her right

butt cheek a lick with his tongue.
The woman is so shocked that she has

a violent spasm and the obstruction

flies out of her mouth. As she begins to

breathe again, the Hillbilly walks slowly

back to his table.

His partner says, 'Ya know, I'd heerd of

that there 'Hind Lick Maneuver' but I

ain't niver seed nobody do it!'

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