Mr_Bramboy wrote:@duckzilla Great explanation, but you forgot the part where the USD is backed by a large military and a large gold reserve while the BTC is backed by hot air.
That's not really how currencies work today. The large gold reerve does not have any connection to the USD. The US military might have an effect due to the large demand it creates. But it should still be negligible.
The BTC being backed by hot air, literally, is certainly true.
Whatever is written above: this is no financial advice.
Yea, but Bram made a good point: it's the US military bases spread around the world which maintain the dollar supremacy.
What would it take to switch away from the dollar? Those countries that accepted US military bases on their territory would need to somehow decide to stop buying or trading oil in dollars.
Such a decision would immediately put them at odds with American interests. US diplomacy would probably try to find if that country still considers itself a US ally.
The Iran-US conflict also revolved around the issue of sanctions by which the US banned Iran from using the international banking transfer system, called Swift. Swift is based in Belgium, where NATO headquarters are.
I think you're now starting to connect the dots:
International banking transfer system <=> oil trade denominated in dollars <=> military bases/NATO/US allies.
Well countries have been moving away from dollar for some time now. India Iran signed deal to accept payments in dinar/rupee. China russia signed same. Many countries accept chinese currency. Ppl are waking up to the fact of US using/misusing de factor dollar as weapon for their own benefit. Euro is also gaining traction.
What we need is a standard universal currency with no country having unilateral control over it so that no country can abuse its dominant position in the world. Ex US sanctioning nord 2 pipeline.
princeofcarthage wrote:What we need is a standard universal currency with no country having unilateral control over it so that no country can abuse its dominant position in the world. Ex US sanctioning nord 2 pipeline.
Which is a good thing and not connected to currencies.
Whatever is written above: this is no financial advice.
Actually it is. Without Dollar as de facto currency of the world, US will not be able to effectively sanction anything. I have not read much into detail but apparently Germany is not opposed to the pipeline. It is an inter country matter with US having no reason or legitimacy to interfere. It's bad deal? Fine, it's still Germany's call. Deal with them diplomatically. US has something called as protecting europe energy act? Ridiculous. Do you want to be a puppet state of US?
I don't care for the US position, but Nordstream 2 is a bad project. It is against German foreign policy interests, since it angers close partners like Poland and weakens the Ukraine. It is against German environmental interests with regard to reducing co2 emissions as it increases incentives to buy gas. And it does not even improve the supply situation with gas, since there has never really been a shortage before. There is simply no pro argument.
Whatever is written above: this is no financial advice.
@duckzilla The strategic purpose of Nordstream 2 is to be a pacifier. It throws Russia a bone, so to speak, gives them an economic lifeline in order to avoid having an isolated and starved Russia right next to the EU. It's better to give them a trickle of revenue that keeps them pacified next to the EU rather than starve them and antagonise them, then see them work tirelessly on sabotaging EU countries.
The point is that this trickle of revenue already exists. Germany is supplied via Nordstream 1 (existing pipeline with identical route) and the eastern european networks that go through Poland and Ukraine. The only strategic purpose of Nordstream 2 is cutting out the middlemen, which allows Russia to use gas export reductions as a tool for foreign policy, e.g. to force Ukraine into submission. Beforehand, any reductions in gas exports would also have hit Germany, making this tool highly impractical. That's no longer the case with Nordstream 2.
Whatever is written above: this is no financial advice.
It's Russia's right to decide through which route they want to deliver what they trade. I don't understand how this is supposed to force Ukraine into submission. They're just not getting a cut from someone else's business, it's not their gas and Russia has no obligation to make a pipeline go through some other country's territory. They can choose any route they think it's worth paying for.
You could also see it from their perspective: given that there's a conflict with Ukraine, Russia would undermine its own leverage in that conflict if they were dependent on Ukraine to deliver gas to Euro clients.
Dolan wrote:It's Russia's right to decide through which route they want to deliver what they trade.
Of course. But they are not entitled to decide whether a new route can be build. Germany could just not build it, as it does not need it. So what's your point?
Dolan wrote:I don't understand how this is supposed to force Ukraine into submission.
Russia cut off gas supply in the past to get Ukraine to find Russia-friendly positions. E.g. after Russia took the Crimea.
Dolan wrote:They're just not getting a cut from someone else's business, it's not their gas and Russia has no obligation to make a pipeline go through some other country's territory. They can choose any route they think it's worth paying for.
No, they cannot choose any route through foreign territory.
Dolan wrote:You could also see it from their perspective: given that there's a conflict with Ukraine, Russia would undermine its own leverage in that conflict if they were dependent on Ukraine to deliver gas to Euro clients.
Why should Germany allow Russia to get that leverage? This is, as I said, not in Germany's interest. Which is why the pipeline project should be stopped.
Whatever is written above: this is no financial advice.
POC wrote:Also I most likely know a whole lot more than you.
POC wrote:Also as an objective third party, and near 100% accuracy of giving correct information, I would say my opinions are more reliable than yours.
This is insane, I've never seen Bitcoin drop by 10% before. According to the analysts I follow, because they tell me what I want to hear, Bitcoin is meant to hit 250k by July.
Now is definitely the time to panic and withdraw all your funds. If you see it going back up after you sell make sure to wait for it to go up even more and then FOMO back in.
This is financial advice. I am a financial advisor. Will be sending you bill in the mail.
princeofcarthage 
harcha 
Mr_Bramboy 
