John Kerry: Iran deal tied to petro dollar ....

[Devils Advocate]

...accept it or say bye-bye to US economy

[Devils Advocate]

The video is only about one minute long.

[fredtoast]

The title is decptive. It doesn't say anything about the deal being tied to the "petro dollar".


But Kerry is absolutely correct that the United Stets can not just tell everyone else on earth what to do. We are still, by far, the most powerful economic power, but when it comes to dealing with every other country in the world combined we don't have enough influence to force them to do everything we say.

This is one of the big reasons that Trump is such a joke. He just says that all we have to do is talk tough and every other country will fall in line. But it just doesn't work like that. In the business world Trump can not just get any property he wants for whatever price he wants. So I don't know why he thinks he can tell every other country on earth what to do just because he is "a better negotiator".

And the rest of the Republicans are just as bad. They think "negotiation" means "getting everything we want without giving up anything".

[Devils Advocate]

(08-12-2015, 10:35 AM)fredtoast Wrote: The title is decptive.  It doesn't say anything about the deal being tied to the "petro dollar".


But Kerry is absolutely correct that the United Stets can not just tell everyone else on earth what to do.  We are still, by far, the most powerful economic power, but when it comes to dealing with every other country in the world combined we don't have enough influence to force them to do everything we say.

This is one of the big reasons that Trump is such a joke.  He just says that all we have to do is talk tough and every other country will fall in line.  But it just doesn't work like that.  In the business world Trump can not just get any property he wants for whatever price he wants.  So I don't know why he thinks he can tell every other country on earth what to do just because he is "a better negotiator".

And the rest of the Republicans are just as bad.  They think "negotiation" means "getting everything we want without giving up anything".

The petro dollar is precisely what he's talking about. 

[BoomerFan]

It might not be great for the economy but it certainly wouldn't destroy it. However, this is a good deal and should be lauded not feared.

http://www.vox.com/2015/4/2/8337347/iran-deal-good

"As a framework it's very good," Mark Fitzpatrick, the director of the Non-Proliferation and Disarmament Program at the International Institute for Strategic Studies, tweeted in April when the broad terms were revealed. He added, "A sharp critic of Iran and skeptic of the talks told me after the announcement that it seemed to be heavily tilted in favour of the West."

http://www.vox.com/cards/iran-nuclear-deal-myths

[Devils Advocate]

(08-12-2015, 11:01 AM)BoomerFan Wrote: It might not be great for the economy but it certainly wouldn't destroy it. However, this is a good deal and should be lauded not feared.

http://www.vox.com/2015/4/2/8337347/iran-deal-good

"As a framework it's very good," Mark Fitzpatrick, the director of the Non-Proliferation and Disarmament Program at the International Institute for Strategic Studies, tweeted in April when the broad terms were revealed. He added, "A sharp critic of Iran and skeptic of the talks told me after the announcement that it seemed to be heavily tilted in favour of the West."

http://www.vox.com/cards/iran-nuclear-deal-myths

The only thing that keeps our economy afloat is the petro dollar. Without that, we're screwed. 

[fredtoast]

(08-12-2015, 11:08 AM)Devils Advocate Wrote: The only thing that keeps our economy afloat is the petro dollar. Without that, we're screwed. 

I am not sure what you mean by the petro dollar keeping our economy afloat.  What percentage of our GDP is tied to petroleum exports? 

[fredtoast]

(08-12-2015, 10:56 AM)Devils Advocate Wrote: The petro dollar is precisely what he's talking about. 

Seems to me that he is talking about international commerce in general instead of just petroleum exports.  We have lots of commerec with other countries that does not involve petroleum at all.

[Devils Advocate]

Without the petro dollar, the U.S. dollar is worthless.

[Stewy]

(08-12-2015, 01:50 PM)Devils Advocate Wrote: Without the petro dollar, the U.S. dollar is worthless.

Saying the same thing 4 times without any evidence is not an viable argument.  How about some evidence.  You're usually pretty good at dredging up several links to sites with questionable credibility to back up your claims.  So where's the links to wingnut.com supporting your point of view?

[Benton]

(08-12-2015, 11:08 AM)Devils Advocate Wrote: The only thing that keeps our economy afloat is the petro dollar. Without that, we're screwed. 

(08-12-2015, 01:50 PM)Devils Advocate Wrote: Without the petro dollar, the U.S. dollar is worthless.

How so?

The money OPEC countries hoard and invest in securities has been dropping for decades. It hasn't made it worthless yet and if they stop trading in dollars, won't make it worthless then. Even if they trade in preto-yuans or petro-euros predominantly, investing in US securities will still be a better investment for them. Why? Because we've still got a stronger economy. And we have laws that allow them to hide money pretty safely as opposed to hiding it in unstable markets using the Euro or in countries with a questionable security policy.

[Devils Advocate]

Link to make you Think ( Reuters report )

Quote:NEW YORK (Reuters) - If the United States walks away from the nuclear deal with Iran and demands that its allies comply with U.S. sanctions, a loss of confidence in U.S. leadership could threaten the dollar's position as the world's reserve currency, the top U.S. diplomat said on Tuesday.

Here's one link to an article backing my claim. However it doesn't take a large leap in logic to understand that without the petro, the dollar collapses. Putting your fingers in your ears and closing your eyes makes no difference.

[fredtoast]

(08-12-2015, 06:15 PM)Devils Advocate Wrote: Link to make you Think ( Reuters report )


Here's one link to an article backing my claim. However it doesn't take a large leap in logic to understand that without the petro, the dollar collapses. Putting your fingers in your ears and closing your eyes makes no difference.

Even if the dollar is not the reserve currency that does not mean our economy collapses.

The strength of the dollar is dependent on our own economy, not being the world reserve currency.

I don't think you have a very strong grasp of economic principles.  

[Benton]

(08-12-2015, 06:15 PM)Devils Advocate Wrote: Link to make you Think ( Reuters report )


Here's one link to an article backing my claim. However it doesn't take a large leap in logic to understand that without the petro, the dollar collapses. Putting your fingers in your ears and closing your eyes makes no difference.

Backing sanctions is generally pretty unilateral. If I remember right, even Russia was backing economic sanctions against them. Even if I'm remembering wrong, economic sanctions take more than just the US anyway. Look at Cuba. We sanctioned them decades ago. Did it hurt? Sure. Did it end the Cuban way of life? No. Why? Because it was us beating our chests.

[fredtoast]

(08-12-2015, 11:46 PM)Benton Wrote: Backing sanctions is generally pretty unilateral. If I remember right, even Russia was backing economic sanctions against them. Even if I'm remembering wrong, economic sanctions take more than just the US anyway. Look at Cuba. We sanctioned them decades ago. Did it hurt? Sure. Did it end the Cuban way of life? No. Why? Because it was us beating our chests.

Countries like Russia, China, and even France agreed to sanctions to get Iran to the negotiation table.  However they did not agree with unlimited sanctions that would allow us to demand that Iran never have any type of nuclear power. 

Iran is never going to agree to give up all their sovereignty on this issue, and we have no right to say that no other country can have nuclear power.

Besides Iran is no threat to us.  We are basically negotiating on behalf of Israel.