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Response to malaise (Reply #7)

Sat Nov 13, 2021, 02:14 PM

14. The US needs to maintain the petrodollar matrix in order to remain the world's reserve currency.

The vast bulk of global petrol is sold in USD. All other nations have to use the FOREX market to swap their currency to US dollars in order to buy. The USD FOREX is by FAR the world's biggest single financial market. Quadrillions (one thousand trillion is one quadrillion) in turnover. It is the only segment of the global financial system big enough to absorb and process truly massive ebbs and flows of wealth.

That liquidity and forced constant demand for the USD, plus the purchasing of US debt via US treasuries, allows the US to ring up what is considered, at some point, damn near unlimited debt. The maintaining of the petrodollar matrix is why the US has a global military empire with over 1,000 bases, sub-bases, and forward force-projection points. The biggest Ponzi scheme in 2.5 million years or so of hominid/human history, all backed up with thousands of nuclear and thermonuclear warheads.

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kentuck Nov 2021 OP
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LineLineLineReply The US needs to maintain the petrodollar matrix in order to remain the world's reserve currency.
Celerity Nov 2021 #14
malaise Nov 2021 #15
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