Right now a nuclear exchange is a real possibility because Joe Biden and his administration are not just incompetent,they are deranged.
I spent a little time thinking about the consequences the white house imposed on Russia,something the Biden team did not do.
They did not consult the Federal Reserve, the Treasury Department, the Commerce Department or the Department of Defense.
40% of the world’s purified Neon came from Odessa, it is needed to fabricate all silicon chips.
All of the Sapphire substrate needed for high end chips came from Russia,once inventories run out no more high end chips can be made.
Palladium is needed to make catalytic converters,almost 40% of the World’s supply came from Russia and there is no substitute.
Kiss the automotive sector goodbye.
Need titanium for those fancy screws used on high performance aircraft?
Better figure out how to recycle what you have.
Russia and Ukraine produce 40% of the World’s barley and Wheat,much of it was milled in Turkey.
Turkey’s economy will take a big hit and there will be at least 3-4 million additional deaths from starvation in the Middle East and North Africa.
Which is not a notably stable part of the World at the best of times.
While I could go on for a while I will add that the recent actions of the “New FDR” have guaranteed that the US Dollar will no longer be the World’s reserve currency in just a few years.
Three to five years is my guess..
Happily the pandemic is over and we’re likely to stay at an average of 1,500 Covid deaths a day here in the US.
If we are lucky.
Thanks for that Tom. I really needed cheering up.
Oh well..back to daytime drinking!
I think Tom is right. We can toss relatively minor countries out of the USD system like North Korea and Iran, but at some point when you toss a country out of the USD system, there’s a tipping point where it becomes worthwhile for other countries to go over and deal with the non-USD bloc. I think Russia might be the tipping point. Already there are a large number of countries dependent on Russia for imports, and Iran and the Gulf countries are openly signaling their willingness to defect from USD and USG.
I suspect that the Gulf countries are apoplectic about the Biden administration’s push to resurrect the Iran deal and that’s part of why they are defecting.
Now for the kicker: Who is the senior partner in *both* the USD and the non-USD blocs? CHINA. Our elites can kick Russia out of the coalition, but kicking China out would be financial suicide. Now who has the whip hand?
It’s gonna be a bumpy ride.
Saudi Arabia has agreed to accept Yuan in addition to the US Dollar for their oil.
Biden is the worst US President to date, soon to be surpassed by Kamala “The People’s Choice” Harris.
Before August is my guess.
81 million votes !
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