The Suez crisis was the final death knell of the British Empire...

  1. 22,946 Posts.
    lightbulb Created with Sketch. 769
    The Suez crisis was the final death knell of the British Empire
    and the debunking of the Pound Stirling as a quasi reserve
    currency.

    Saudia Arabia's nationalisation of its oil was a stroke of genius
    because it happened a a time when all the focus was on the Israeli/
    Egyption crisis.

    Saudi Arabia and its citizens have prospered since and two years
    ago the Saudi's floated (privatised) a fair share of its oil in anticipation
    of the negative impact of climate change policies grobally will have
    on the price of oil (bet hedging)

    But back to the topic of the impending demise of the USA.

    IMO the canary in the mine is the Greenback and as that gets
    pushed back from being the Global Currency, so will America's
    power globally wane.

    Just imagine what would have happened if the Greenback hadn't been the
    Reserve Currency since the US GFC? America would be gutted with inflation
    (USD depreciation) due to its printing of over $23 Trillion of paper money.

    Just keep a eye on the Price of Gold (POG) which will foreshadow the demise of the
    USD, IMO.



 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.