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A WORKING MAN'S REALITY: 1971 to Today Anonymous 02/14/2018 (Wed) 17:25:54 [Preview] No. 15352
The current US economic system is broke, but has been for a long long time. The Fed has devalued our currency, via massive debt creation, by 98+ % since Nixon defused the dollar from the gold standard in 1971.

When Nixon scrapped the US gold standard, we defaulted on the Bretton Woods Agreement of 1944 (which was why the US became a massive superpower and economic powerhouse right after WWII).

Nixon and his sidekick, Secretary of State Henry Kissinger, knew that their destruction of the international gold standard under the Bretton Woods arrangement would cause a decline in the artificial global demand of the US dollar. Later they set up agreements with OPEC nations to set up a US global reserve currency which would be tied to global oil trade, known as the US Petrodollar. In order for other countries to buy oil from these OPEC nations, they needed to exchange their currencies for US dollars, or US T-bonds.

Fast forward to 1974 and the petrodollar system was fully operational in Saudi Arabia. The US govt then exploited this system and began building an Empire and aggressively spending more and more money they did not actually have, thus creating more and more debt via Congressional budgets and the Federal Reserve system.

Fast forward to the 1980s, when we began outsourcing all our industry to countries like China. Industries knew that as the US govt continued insolvent spending polices, that taxes would continue to rise, and that they would end up making more profit by simply outsourcing to countries with cheaper labor and cheaper taxes.

The US govt did not care about the consequences of their insolvency and addiction to debts. They kept spending more and more.

By the time NAFTA was signed into law in 1994, around half of America's productive industry had been outsourced! What happened to all those good 'ol jobs? They were replaced by a socialist welfare state of-course! An ever-growing welfare state.

This insolvent government created ripple effects. Welfare skyrocketed (because so many Americans no longer had jobs/income), poverty skyrocketed, what were once decent places to live became ghettos! Literal shitholes across American landscape. The middle class began shrinking, NOT increasing!

Fast forward to 2001, after the 9/11 false flag attack. Government spending skyrocketed by billions of dollars per year. Well more than half of American industry had vanished. Taxes were higher than ever before in our history. We began wasting trillions of dollars on "the war on terror" and still lost those wars.


A WORKING MAN'S REALITY: 1971 to Today Anonymous 02/14/2018 (Wed) 17:26:25 [Preview] No.15353 del
>>15352
Fast forward to 2008, America is Trillions of dollars in debt. Countries are starting to get sick of all our failed wars and insolvency. We hardly produce anything of real value anymore, we give the masses EBT cards and welfare checks to live rather than real income or jobs! We create more death around the world than basic necessities or goods!

Fast forward to 2014, China and Russia join together and announce the "Holy Grail Deal" and, by doing so, effectively bypass the US Petrodollar! 2014 was the beginning where two major superpowers flipped America the bird and said "we will no longer use the USD for oil trade!"

Fast forward to today... Cheap labor has flooded into the country from Mexico. The American people can never pay all the debt off. Our government went into too much debt. America is the biggest dependent welfare state on the planet, yet still has the gull to call itself "capitalist." Our markets are entirely rigged and manipulated. Our 'economic' statistics often fraudulent or highly obfuscated (such as the employment rate which the BoL is counting social security recipients as "working")... America constantly bails out insolvent/corrupt banks and other institutions, including subsidizing nearly everything! Meanwhile Eastern CHIPS transactions are now replacing Western SWIFT transactions... Shanghai Oil-Gold agreement has started replacing the US Petrodollar in many countries... the AIIB is replacing the IMF... the One Belt One Road is replacing US/EU/OPEC trade... Asian Development Fund is replacing US T-bond purchases from Asia... the Dagong Credit Rating Agency is replacing the Western-backed Standard & Poors, Moodys, and Fitch...


Anonymous 02/14/2018 (Wed) 19:17:38 [Preview] No.15354 del
>>15353
>Meanwhile Eastern CHIPS transactions are now replacing Western SWIFT transactions... Shanghai Oil-Gold agreement has started replacing the US Petrodollar in many countries... the AIIB is replacing the IMF... the One Belt One Road is replacing US/EU/OPEC trade... Asian Development Fund is replacing US T-bond purchases from Asia... the Dagong Credit Rating Agency is replacing the Western-backed Standard & Poors, Moodys, and Fitch...

RELATED PETRODOLLAR DEMISE:
https://archive.fo/KK7dS (How US Political/Economic Stupidity Has Undermined Petrodollar)
https://archive.fo/y99WO (Russia-China Sign "Holy Grail" Oil Trade Deal WITHOUT EURO-USD)
https://archive.fo/Etd2l (Putin Working With China To Replace US Reserve Currency Status)
https://archive.fo/In1Qm (BRICS Nations To Create Gold Trading Network 1)
https://archive.fo/7rAWT (BRICS Nations To Create Gold Trading Network 2)
https://archive.fo/heCyc (New Non-USD Gold Trading Network In Works)
https://archive.fo/j6UIC (The Integrated Non-USD Platforms As of 2017)
https://archive.fo/2qbty (China Sets Up Oil for Yuan Trade / Non-USD)
https://archive.fo/7Kj1f (Saudi Arabia Flips East After Purge of Western Puppets)
https://archive.fo/BJiSL (Banks Prepare for New Chinese Petroyuan Reserve Currency Status)
https://archive.fo/ENRfX (US/China Trade War Begins After US Tax Cuts Passed)
https://archive.fo/TPBxQ (China Weighs Halting Purchases of US Treasury Bonds)
https://archive.fo/r4hZG (Switzerland May Flip East, Trade With Russia-China)
https://archive.fo/r4hZG (Pakistan Considers Flipping East / UPDATE: Did Happen!)
https://archive.fo/SDTAa (Turkey Flips East, Ditches Dollar For Gold Trade)
https://archive.fo/GYhIh (China-Iran Set Up Non-USD Trade)
https://archive.fo/UD4KO (Russia Will Bypass Western Sanctions via Cryptocurrencies)
https://archive.fo/VkFKg (Russia Becomes Agricultural Superpower / Self-sufficient)
https://archive.fo/RAcZK (Second China-Russia Crude Oil Pipeline Project Completed)
https://archive.fo/klhsL (New China-Russia Arctic Silk Road For Non-USD Trade)
https://archive.fo/MLg8h (New One Belt One Road Will Replace USD, Change Global Trade)
https://archive.fo/wJKXq (Russia-China Investing To Control Arctic Natural Resources)
https://archive.fo/i0iFr (South China Sea Project To Extract Shale Oil, Other Resources OUTSIDE USD)
https://archive.fo/sVN4n (Russian Banks Are Ready To Turn Off SWIFT Transactions, Install Replacement)


Iran Bans Use Of US Dollars In Trade Anonymous 03/01/2018 (Thu) 19:44:19 [Preview] No.15729 del
Iran Bans Use Of US Dollars In Trade

RELATED PETRODOLLAR DEMISE: >>>/b/15354

In what may be a preemptive move against further US sanctions, Tehran announced that going forward, merchant purchase orders that are denominated in US Dollars would no longer be allowed to go through import procedures.

According to the state-owned IRNA news agency, the policy is in line with an official request by the Central Bank of Iran and is meant to address fluctuations in market rates of the US dollar. Quoted by IRNA, the central bank director of Foreign Exchange Rules and Policies Affairs, Mehdi Kasraeipour, said the move had "become effective from Wednesday by virtue of a letter sent to the Ministry of Industry, Mines and Trade."

The central banker further explained that the decision "wouldn’t create major trouble" for traders because the share of the greenback in Iran’s trade activities is already negligible.

"It’s been for a long time that Iran’s banking sector cannot use the dollar as a result of the sanctions," said Kasraeipour. As part of a trade embargo, US banks are banned from dealing with Iran.

"Considering that the use of the dollar is banned for Iran and traders are literally using alternative currencies in their transactions, there is no longer any reason to proceed with invoices that use the dollar as the base rate," Kasraeipour added.

As part of the transition, Iranian merchants will need to inform their suppliers to change the base currency from the dollar to other currencies so that the related import documents could be processed at Iran’s entry points. It was unclear if cryptocurrencies are acceptable units, and whether Iran is developing its own version of the Venezuelan Petro.

Merchants will also need to specify whether they would proceed with their payments through banks or currency exchange shops.

Ever since the crackdown on the Iranian banking sector by the US and SWIFT some 5 years ago, Tehran has sought to switch to non-dollar based trade. It has already signed agreements with several countries and is in talks with Russia on using national currencies in settlements.

Last December, Iran announced that it would eliminate the dollar from all bilateral trade with China, which has fast emerged as one of Iran's largest crude oil clients.

Previously, during a meeting with Russian President Vladimir Putin in November, Iranian Supreme Leader Ali Khamenei said that the best way to beat US sanctions against the two countries was joint efforts to dump the American currency in bilateral trade. He told President Putin that by using methods such as eliminating the US dollar and replacing it with national currencies in transactions between two or more parties, the sides could “isolate the Americans.”

De-dollarization for Beijing, Moscow and Tehran has become a strategic priority. Eliminating the unlimited spending capacity of the Fed and the American economy means limiting US imperialist expansion and diminishing global destabilization. Without the usual US military power to strengthen and impose the use of US dollars, China, Russia and Iran have paved the way for important shifts in the global order.

https://archive.fo/4F9XF
https://www.zerohedge.com/news/2018-03-01/iran-bans-use-us-dollars-trade



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