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| Joined: | Mon Nov 21st, 2005 |
| Location: | California USA |
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The Oil Race Is On: China Signs Multi-Billion Dollar Oil Contract With Venezuela, But India Also Wants Latin American Oil
This move adds to the transfer of power from the Dollar Hegemony to the competition. Competition brings prices down to cost, so, the winners are the consumers. The losers are those who profit on thier monopoly power or their enforced exclusion of competition.
What can happen is a reduction in the flow of puchasing power from China to the Dollar Hegemony as China finds other less costly sources of power. That can easily turn into increased purchasing power for average Chinese workers and an increase in demand for consumer goods for Chinese consumers. In turn the demand fetches a higher price as suppllies lower leading to more world wide production opportunities for industries in any country not being forced out of the market by the Dollar Hegemony.
The Dollar Hegemony must falsify the current events into a DOOMS DAY SCENARIO or Dollar Crash, depression, etc. All that is happening is a reduction in the purchasing power of the Dollar backed by oil flow and military might.
Sure; people who have sunk their life savings into dollar denominated instruments (401K plan's perhaps) will lose big unless they liquidate and reinvest early.
Am I smoking crack?
Will you bet your life?