Lightbringer
Loves Me Some Souls
stfu fiat currency banker cock smoker.
did you look up about the federal reserve shares, cretin?
What shares? Link up, I'd love to read about it.
stfu fiat currency banker cock smoker.
did you look up about the federal reserve shares, cretin?
There is no such thing as a 'petrodollar'. Oil is traded using the currencies of the buyer or seller, usually the seller. Buzzword fallacy.
Saudi Arabia is not a BRICS. BRICS is an acronym that stands for B.razil, R.ussia, I.ndia, C.hina, and S.outh Africa.
It is not an economy. It is not a currency.
Things are changing China is buying oil from Saudi Arabia
You think that means things are changing?
They are using China currency
There is no such thing as a 'debt ceiling'. Buzzword fallacies.
The dollar is not the peso. The Thaler is not the dollar or the peso.
Whole economies using just a single metal as the currency has already worked.
What shares? Link up, I'd love to read about it.
Things are changing China is buying oil from Saudi Arabia
They are using China currency
Call it whatever the fuck you want asshole, if the congress does not raise it anyone with savings in something like a retirement account will see that balance cut as much as in half. If they are living on social security those payments will stop. I don't imagine a dumbfuck like you gives a shit because you are too stupid to understand the ramifications.
A Thaler is not a dollar. The Spanish never used dollars. They used escudos, and later pesetas (the root that the Mexicans later took the word 'peso' from.When the Spanish produced Thalers, they called them "Dollars".
Escudos were gold coins. Pesetas used silver.It was still a large silver coin, nearly an ounce in weight.
There was no paper currency in the US at the time.The new USA created a paper currency, that they promised to redeem for Spanish Dollars, known as the US Dollar.
There was no paper currency in the US at the time.They redeemed them for slightly lighter silver coins.
No. Spanish used pesetas. Mexico coined pesos.In Mexico, the Spanish Dollar was called the Peso.
There was no Mexico before Mexican independence.After Mexican independence, they created a Mexican Dollar coin, which was also called the Mexican Peso coin.
The US used gold and silver.The USA was mostly a silver standard country at first,
Learn what this word means.but always had a little bimetallism.
The government never had to 'set an exchange rate' at all.The problem with bimetallism is that the government is forced to defend a set exchange rate between two metals that will change in price over time. Silver turned out to be inflationary, in that huge amounts of silver were found over time.
From where? Are you aware there are shipping costs?An interesting fact, gold is much more common in the solar system than you would assume from the surface of the earth. That means that we might soon be importing huge amounts of gold, and it might become inflationary too.
The Western Roman Empire switching to the gold standard is correlated with its collapse into a dark age.
Nope. No depositors.Bank Members
The 12 regional Federal Reserve banks are set up similarly to private banks.
Not a bank. A warehouse.They store currency,
That's a clearing house. There are several such clearing houses. The Federal Reserve is just one of them. Not a bank.process checks,
They do not make loans.and make loans to the private banks within their area that they regulate.
This part is correct. Banks borrow from each other. This is why a bank failure affects other banks.These banks are also members of the Federal Reserve banking system. As such, they must maintain reserve requirements. In return, they can borrow from each other at the fed funds rate when needed.
The Federal Reserve does not make loans. The 'discount window' you speak of is really a grant program.As a last resort, they can also borrow from the Fed's discount window at the discount rate.7
There are no shares of stock in the Federal Reserve. The Federal Reserve is a government agency.To be a member of the Federal Reserve system, commercial banks must own shares of stock in the 12 regional Federal Reserve banks.
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so the petrodollar is no longer being arbitrarily propped up.
it matters, dufus.
There is no such thing as a 'petrodollar'. Buzzword fallacy.