Saturday, March 13, 2010

And the dollar refuses to fall...

I been reading about the imminent collapse of the dollar for years now. Everyone from the fr left to the far right has been screaming and trying to scare the American sheeple with the fall of the dollar and subquentially the loss of the American lifestyle.
Bu somehow, stubbornly, the dollar has refused to listen to all these fear mongrels and hasn't fallen. As a matter of fact it's the euro that has fallen, NOT the dollar. And I can safely assure people the dollar ain't gonna fall any time soon regardless what all those know nothings say.
yes I am the first to admit the dollar is a fake currency. Yes t is a fiat currency but even as such it is backed the the most precious the most important substance on the Earth today: oil. When the Russians sell gas and oil to Germany, they get paid in dollars. When the Chinese buy gas and oil they pay in dollars. This act itself gives the dollar a "value", making it worth something. No other world currency enjoys this special privilege. So no matter how shitty the USA economy gets the dollar still retains its value because its the currency the world uses to buy its life blood: oil.
So like it or NOT, the dollar ain't gonna fall any time soon. Maybe later. maybe next week perhaps. But I doubt it.

4 comments:

Lukiftian said...

Actually, the USD is backed up by the military and willingness to use it. Oil is the secondary commodity, so long as it can be secured. And it has fallen relative to the CAD, so nyah, nyah, nyah. ;-)

petkov said...

Actually, the oil is not a "secondary commodity". Try running the modern world without oil and see how far you will get. One word: fertilizer. Look it up when y got the time, ey?
The fact that oil is sold and bought with dollars gives the dollar a value NO other currency enjoys.
Learn your facts before speaking, ok?
better luck next time bucko.

petkov said...

Oh yeah and its now August 19 and the dollar STILL hasn't fallen. Damn when will that dollar fall, finally so I can be proven right?????????

petkov said...

and today is 04-20-2013 and the dollar STILL hasnt fallen! Damn that dolla'!