This has got to have a bunch of the elites in banking, politics, and the rest of the corrupt moneyed establishment shaking in their boots, as they say.

https://europeanbusinessmagazine.com/business/iran-has-just-fired-the-most-dangerous-shot-of-this-war-and-it-wasnt-a-missile/

In short: the USA has enjoyed a privileged position since the end of WWII, because the #US #dollar has been the de-facto standard international #currency. Not just for trade, but as a reserve as well. Other countries buy US-issued government #bonds by the absolute truckload, and it lets the US spend far above its income without triggering the #hyperinflation you see when another country does that by printing money (see: Zimbabwe).

The foundation of that international currency choice is the oil trade. Pretty much every oil transaction between parties in different countries uses US dollars, hence the "petrodollar' name.

#Chinese yuan becoming an alternate global reserve and trading currency has been a worry for the US for some years now. Oil transactions happening in #yuan could make it happen in a big way.

And then the dominoes might start falling. I'd say "popcorn time", but the collateral damage to the US #economy collapsing will have huge consequences for us all.

#GovernmentBonds #USBonds #ReserveCurrency #USFederalReserve #USPol #Iran

Goddamn #Russia is cooked. #Russian costs are rising much more than in the west, and as per usual the young (#GenZ) who have to sound the alarm.

#Putin has destroyed Russia. We're only waiting for #hyperinflation to hit, which will probably balkanise Russia - or usher in a totalitarian dystopia similar to North Korea.

Russians are not happy
https://www.youtube.com/watch?v=JUi7qa1yy8c

Aktuell erlebe ich meine deutschen #Mitbürger als fast sorgenfreies #Völkchen solange ihr #Verein gewinnt, alle fehlerfrei gendern, der #Kaffee mit #Hafermilch serviert wird und Nachbars #Rasen proper gemäht ist.

Mitunter frage ich mich aber, was sie nach #Kriegsausbruch oder angesichts einer #Hyperinflation veranstalten werden.

Vlt. #Noisecancellingheadset aufziehen?

Gee, when Erdoğan kept cutting interest rates—as Trump wants to do—the net was 80% inflation!

The end of Erdoğanomics? Turkey almost doubles interest rates to fight inflation
https://www.politico.eu/article/end-recep-tayyip-erdogan-economics-turkey-double-interest-rate-inflation/

#TrumpMustGo #Fed #JeromePowell #LisaCook #InterestRates #Hyperinflation #USPol

Cashless Iran

Gee, when Erdogan kept cutting interest rates—as Trump wants to do—the net was 80% inflation!

The end of Erdoğanomics? Turkey almost doubles interest rates to fight inflation
https://www.politico.eu/article/end-recep-tayyip-erdogan-economics-turkey-double-interest-rate-inflation/

#TrumpMustGo #Fed #JeromePowell #LisaCook #InterestRates #Hyperinflation #USPol