Craig, excellent review of the last few chaotic months. I don't think anybody else has answered the question "why didn't they intro the new BRICS currency last Aug?" Maybe you could take this further to where your title wants to go, Part 3 anybody? For starters, to buy time by tacitly enabling oil purchases in non USD, hasn't the US bored a hole below the waterline of our most important franchise boat: the petrodollar? And if that's true, what scenario drivers should we be watching closely to estimate the pace of decline of USD as the reserve currency, and to each of us personally, to know how bad inflation is going to get. Seems to me buying time was at BEST a short-sighted, pyric victory executed out of weakness. PS - and thanks for prodding me to go back and listen to a few 432hz Alanis M tunes!
Craig, excellent review of the last few chaotic months. I don't think anybody else has answered the question "why didn't they intro the new BRICS currency last Aug?" Maybe you could take this further to where your title wants to go, Part 3 anybody? For starters, to buy time by tacitly enabling oil purchases in non USD, hasn't the US bored a hole below the waterline of our most important franchise boat: the petrodollar? And if that's true, what scenario drivers should we be watching closely to estimate the pace of decline of USD as the reserve currency, and to each of us personally, to know how bad inflation is going to get. Seems to me buying time was at BEST a short-sighted, pyric victory executed out of weakness. PS - and thanks for prodding me to go back and listen to a few 432hz Alanis M tunes!