Climate Change vs The PetroDollar

[NomadPatriot]

so... the climate was just as bad as it is today 2001 years ago...? before human's industrialized...? but now they are claiming we only have 18 months to save the earth.. ( the exact timeframe for the November 2020 presidential election here in the US.. coincidentially… )

but the real question is.. what about the petrodollar?

if the United States does stop emitting CO2 .. let's say 100% Electric Cars... no more gasoline engines. .
sounds great right..
what no one seems to realize is the United States Dollar is based on Petroleum.. it is called the Petrodollar..
it's value is based on the availability and purchase price of oil..
if gasoline engines are banned.. what do you think will happen to the US Dollar...?
what will we base our money on...?
gold..?
silver…?
corn..?
fidget spinners...?
mean words..?

if your goal is to end the brainwashed notion of 'humans control nature'... your very 1st step to be taken is too get the US Dollar off of a 'global warming' based valuation..

also once we 'end climate change'.. we need to stop volcanoes from erupting..

------------------------------------

Climate change: Current warming 'unparalleled' in 2,000 years

The speed and extent of current global warming exceeds any similar event in the past 2,000 years, researchers say.

They show that famous historic events like the "Little Ice Age" don't compare with the scale of warming seen over the last century.

The research suggests that the current warming rate is higher than any observed previously.

The scientists say it shows many of the arguments used by climate sceptics are no longer valid.
◾Twelve years to save Earth? Make that 18 months...
◾'Restore UK bogs' to tackle climate change
◾'No brainer' fuel change to cut transport CO2

https://www.bbc.com/news/science-environment-49086783

[spurgistan]

The dollar is not backed by oil. The dollar is backed by the faith in the US government that it will be accepted as legal tender in the future. The word "petrodollar" refers to the fact that many oil transactions (among other kinds of transactions) are traditionally performed in dollars, which does have the effect of stimulating demand for dollars. but it doesn't derive its value from that. It might lose some value against overseas currencies, but that's not bad by default. A weaker dollar is great, if you like stimulating exports which are suddenly cheaper to buy overseas. It would be fun if we could have a debate about monetary policy in this country, instead of who we should blame for concentration camps.

[NomadPatriot]

"The U.S. dollar is, for all intents and purposes, backed by oil. It's been that way by design since the 1970s, when the United States worked with OPEC to ensure a steady flow of oil to the country.

In exchange for the oil-producing countries only accepting dollars for oil, the US would support regimes like Saudi Arabia. This tied the dollar to oil, giving it a de facto commodity backing, and keeping it as the dominant currency — as close to a universal world currency as we've seen. Dollars are, or rather were, accepted anywhere on the planet."



https://www.benzinga.com/generallifemisc/movers-shakers/11/05/1109185/forget-the-gold-standard-the-world-has-had-an-oil-backe

[spurgistan]

https://www.forbes.com/sites/douglasbul ... c5f7656a14

From a site I've heard of, unlike benzinga.com, which I'm hoping is an great pun by some guy named Ben who likes bad TV shows.

To TL:DR this article: oil prices are denominated in dollars because the US is one of the strongest and stablest (and handsomest) economies in the world, not due to some intrinsic feature of the oil trade. What does benzinga think will happen when the Saudis run out of oil in the next few years? They just trade in their dollars for yuan? Rubles? Turkish lira? Establishing the dollar as the de facto reserve currency of the world was a good move, a move our president really seems bent on fixing with his random war on Bretton Woods, but it wasn't because we struck some deal with the Saudis. It's because there wasn't any other country at the time that had a currency that came close to ours.

[NomadPatriot]

oil prices are denominated in dollars because the US is one of the strongest and stablest (and handsomest) economies in the world, not due to some intrinsic feature of the oil trade.

if tomorrow the entire planet decided to stop using US Dollars to buy Oil and decide to use the Petro-Yuan, would the value of the US Dollar decrease..?
--> the answer is Yes..

[armati]

An interesting topic.

From what I know, FDR maneuvered Churchill into giving up the world reserve currency, the official deal was struck at Bretton woods July 1 1944.
FDR also raped Britain of their gold, among other assets.

The american dollar was to be pegged to gold and all other currencies pegged to the U.S. dollar thus keeping everyone on the gold standard.
De Gaul noticed by 1971 the americans were printing too much currency and asked for gold for french held american dollars.

Nixon realized there was not enough gold to cover the dollars printed and defaulted on the deal.
If not the americans would have lost all their gold.

So, Nixon made a smart move and made the deal with Saudi Arabia and other oil producing nations to accept only american dollars for oil in exchange for defense and we get the beginning of the petro dollar and the americans retained the world reserve currency.

There are stories of the petro dollar idea as far back as 1944.

[mookiemcgee]

oil prices are denominated in dollars because the US is one of the strongest and stablest (and handsomest) economies in the world, not due to some intrinsic feature of the oil trade.

if tomorrow the entire planet decided to stop using US Dollars to buy Oil and decide to use the Petro-Yuan, would the value of the US Dollar decrease..?
--> the answer is Yes..

Have you presented any evidence of that? --> the answer is No.

When the price of oil goes up or down, does the dollar move with it? --> the answer is No.

When the dollar goes up or down does the price of oil move with it --> Not really, but stronger correlation then the last question.

If the world started trading in Oil using the Yuan, would the dollar go to zero value because it's not "backed by oil" anymore. --> the answer is No.

Did the OP really post an article stating that in the last 2000 years the world has never seen global temperature rise as fast as we are currently seeing... and then turn around an argue that is because the didn't extend the study to 2001 years? --> the answer is Yes.

Is this an honest argument? --> the answer is it is the opposite of an honest argument.

[NomadPatriot]

oil prices are denominated in dollars because the US is one of the strongest and stablest (and handsomest) economies in the world, not due to some intrinsic feature of the oil trade.

if tomorrow the entire planet decided to stop using US Dollars to buy Oil and decide to use the Petro-Yuan, would the value of the US Dollar decrease..?
--> the answer is Yes..

Have you presented any evidence of that? --> the answer is No.

When the price of oil goes up or down, does the dollar move with it? --> the answer is No.

When the dollar goes up or down does the price of oil move with it --> Not really, but stronger correlation then the last question.

If the world started trading in Oil using the Yuan, would the dollar go to zero value because it's not "backed by oil" anymore. --> the answer is No.

Did the OP really post an article stating that in the last 2000 years the world has never seen global temperature rise as fast as we are currently seeing... and then turn around an argue that is because the didn't extend the study to 2001 years? --> the answer is Yes.

Is this an honest argument? --> the answer is it is the opposite of an honest argument.

1) Have you presented any evidence of that? --> the answer is No. --> it's called Economics..

2) When the price of oil goes up or down, does the dollar move with it? --> the answer is No. --> yes . .it does.. "Historically, there's been a pretty consistent correlation between oil prices and the US dollar.

When the dollar strengthened, oil prices would fall — and vice versa. " -- https://www.businessinsider.com/us-dollar-oil-prices-correlation-2014-10

3) When the dollar goes up or down does the price of oil move with it --> Not really, but stronger correlation then the last question. --> again, "Historically, there's been a pretty consistent correlation between oil prices and the US dollar.

When the dollar strengthened, oil prices would fall — and vice versa. " -- https://www.businessinsider.com/us-dollar-oil-prices-correlation-2014-10

4) If the world started trading in Oil using the Yuan, would the dollar go to zero value because it's not "backed by oil" anymore. --> the answer is No. --> I never said the US Dollar would go to Zero.. I said it would decrease, no currency can go to Zero. the US would still have to use the US Dollar to purchase Petro-Yuan to buy oil.. we would just have to back it with something else immediately

5) Did the OP really post an article stating that in the last 2000 years the world has never seen global temperature rise as fast as we are currently seeing... and then turn around an argue that is because the didn't extend the study to 2001 years? --> the answer is Yes. --> the article clearly says " The speed and extent of current global warming exceeds any similar event in the past 2,000 years".. so was there a similar event 2001 year ago they are not mentioning? I thought we had data going back 650,000 years. why infer only within the past 2,000 years.. ? was there a similar event just over 2,000 years ago that would 'Parallel' modern climate activity...?
but the point of the article was to reference the '18 months' aspect coinciding with the 2020 US presidential election coincidentally. and to reference the " 'No brainer' fuel change to cut transport CO2" which brings us to the PetroDollar discussion.

if you are able to discuss the topic with your own references or thoughts on the topic. . feel free too.. attacking the author does nothing to further the discussion. and only shows an attempt on your part at distraction.

because so far you have provided nothing...

[mookiemcgee]

oil prices are denominated in dollars because the US is one of the strongest and stablest (and handsomest) economies in the world, not due to some intrinsic feature of the oil trade.

if tomorrow the entire planet decided to stop using US Dollars to buy Oil and decide to use the Petro-Yuan, would the value of the US Dollar decrease..?
--> the answer is Yes..

5) Did the OP really post an article stating that in the last 2000 years the world has never seen global temperature rise as fast as we are currently seeing... and then turn around an argue that is because the didn't extend the study to 2001 years? --> the answer is Yes. --> the article clearly says " The speed and extent of current global warming exceeds any similar event in the past 2,000 years".. so was there a similar event 2001 year ago they are not mentioning? I thought we had data going back 650,000 years. why infer only within the past 2,000 years.. ? was there a similar event just over 2,000 years ago that would 'Parallel' modern climate activity...?
but the point of the article was to reference the '18 months' aspect coinciding with the 2020 US presidential election coincidentally. and to reference the " 'No brainer' fuel change to cut transport CO2" which brings us to the PetroDollar discussion.

Now see if you had actually read beyond the headline of the article that YOU POSTED, they based this on what is called the "common era" - https://en.wikipedia.org/wiki/Common_Era

They even included a nice graph that you are completely unable to argue with. so you just try to expand the scope because that is the only argument you have left


I understand it pretty easy to reject science for you, given this is the man you call a deity

The US and Saudi Arabia have joined forces to restrict the use of IPCC science reports in climate talks

In regard to the price of oil. It goes up and down based on SUPPLY AND DEMAND... and you so eloquently put it, ECONOMICS. I never said the two weren't correlated, but shifts in one are not the sole reason for shifts in the other... again ECONOMICS.

[mookiemcgee]

If you are looking for a longer time period covered, try this one

https://2oqz471sa19h3vbwa53m33yj-wpengine.netdna-ssl.com/wp-content/uploads/2016/09/earths-temperature-comic.png

[waauw]

what no one seems to realize is the United States Dollar is based on Petroleum.. it is called the Petrodollar..
it's value is based on the availability and purchase price of oil..
if gasoline engines are banned.. what do you think will happen to the US Dollar...?

Sounds like a win to me.

[NomadPatriot]

the topic is actually about stopping the use of petroleum vs the US Dollar valuation Mookie...

I already stated I used that article because it references stopping the use of gasoline engines & gives an 18 month window .. because 'Climate Change!!'

but you just keep on focusing on the weather chart... because you cannot understand the point of the 2001 year remark...


but you are right about one thing though..

--> he says now " I never said the two weren't correlated,"

a few moments ago he said "When the price of oil goes up or down, does the dollar move with it? --> the answer is No. "


correlated
verb
1) have a mutual relationship or connection, in which one thing affects or depends on another.

…. I do not think he understands what correlated actually means. or remembers what he actually wrote...

[GoranZ]

They even included a nice graph that you are completely unable to argue with. so you just try to expand the scope because that is the only argument you have left

I have more accurate picture(I posted it on another thread few weeks ago)

[spurgistan]

oil prices are denominated in dollars because the US is one of the strongest and stablest (and handsomest) economies in the world, not due to some intrinsic feature of the oil trade.

if tomorrow the entire planet decided to stop using US Dollars to buy Oil and decide to use the Petro-Yuan, would the value of the US Dollar decrease..?
--> the answer is Yes..

if tomorrow, the entire planet decided to stop buying McDonald's Happy Meals, would the value of the dollar go down?
--> the answer is (probably) Yes..

Who will worry about the Happy Meal Dollar?