The End of Financial Supremacy of The United States Looms

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Years ago, I was warned by a savvy investment guru, that when countries began to divest themselves of the dollar as the trading standard for the oil industry, including trade with the Middle East oil giants, the States would experience the beginning of the greatest depression the U.S.A. has ever seen.

I have been watching over the years, as I was informed of this sign of the end of the hegemony of the American Dollar at least six years ago, for signs of this trend.

It is now happening.

Not only has Iran dropped the U.S. currency as the standard of trading of oil, but also the EU is considering doing the same. Tsvetana Paraskova of Oilprice.com, in an online article, noted this: https://oilprice.com/Geopolitics/Europe/EU-Could-Switch-To-Euros-In-Oil-Trade-With-Iran.html

The EU has launched expert discussions with Iran aiming to arrive at practical solutions in the next few weeks, Mogherini said. The issues that the talks will address include “maintaining and deepening economic relations with Iran; the continued sale of Iran’s oil and gas condensate petroleum products and petrochemicals and related transfers; effective banking transactions with Iran; continued sea, land, air and rail transportation relations with Iran; the further provision of export credit and development of special purpose vehicles in financial banking, insurance and trade areas, with the aim of facilitating economic and financial cooperation, including by offering practical support for trade and investment.”

The EU’s pledge to continue trading with Iran comes as Europe continues to buy Iranian oil, but some refiners and traders are flagging financing issues as having the potential to stop crude trade with Iran. Another big hurdle to Iran’s crude oil exports could be issues with the insurance of tankers carrying oil out of Iran, experts have warned, while some shipping companies are already refusing to commit tankers to new Iranian cargoes, for fear of complications in the cargo and insurance related payments.

You are probably shaking your heads and saying, “Why the fuss? Wasn’t this on the cards since 2014?

Since 1944, the standard of buying and selling oil moved from gold to the U.S.dollar. This meant that all transactions in banking, oil production, oil usage such as utilities, investment, insurance, transport, as well as general sales, had to involve changing currencies to the U.S. dollar. This standard unlined the dominance of the dollar and kept it in a safe position globally. If all the institutions dealing with oil had to change other currencies into dollars, as if the world agreed to the dollar setting the cost for barrels of oil, this meant the dollar was not subject to the types of changes which other currencies faced. For example, if the whole world was buying oil at, let’s say, using today’s value of $72. for crude, then the dollar was assured of some stability. All currencies were “judged” against the dollar. If you want to read more of the history of this, check this out.

https://www.economist.com/the-economist-explains/2014/06/30/what-was-decided-at-the-bretton-woods-summit

The original petrodollar system was ended under Nixon, but the agreement to stick with U.S. dollars persisted.

What happens if the world currencies no longer buy in dollars?

Gross inflation in the United States for a starter, followed by a world depressed dollar. And, if there is a devalued dollar because oil is no longer sold in dollars, then the entire world economy will be effected.

In 2014, Putin made noises that he wanted the ruble or other currencies to be the oil standard. It did not change then, but now, with Iran and Europe moving towards the Euro as the standard, the end of the strong dollar will be in sight.

So, you ask, would’t European economies suffer? Not the extent of the United States and would actually gain in strength, as the Euro would be the mark of value for oil. Plus the European economy is not only strong, but is not tied to the horrible United States trillion dollar debt. Can you imagine a weakened dollar and the current debt crisis becoming a perfect storm for a 1929 or worse depression? Poorer countries dependent on the dollar and with more or the same levels of debt as the States would suffer. World-wide chaos….

I knew this would happen eventually and now it is. The arrogance of the States in bungling along with a debt of about 21 Trilllion will bump up against the reality of a depressed currency. http://www.usdebtclock.org/

This would mean the end of the American Dream as we know it and the beginning of the Time of Tribulation prophesied for years for saints. War will follow, most likely the catastrophe foretold by Our Lady of Akita.

Get ready for a bumpy ride, and if I were investing, I would be buying Euros.

By Jamie Hunter

JMJ, Pray for us.

God is good,

Jay

1 comments on “The End of Financial Supremacy of The United States Looms”

  1. On Mon, May 21, 2018 at 5:05 AM HOPE IN THE STORM wrote:

    > Jay Toups posted: “Years ago, I was warned by a savvy investment guru, > that when countries began to divest themselves of the dollar as the trading > standard for the oil industry, including trade with the Middle East oil > giants, the States would experience the beginning of th” >

    Liked by 1 person

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