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<p>[QUOTE=&quot;GoldFinger1969, post: 8239540, member: 73489&quot;]The U.S. did not &quot;invade&quot; those countries.&nbsp; And we didn&#039;t exactly stay and take oil fields.</p><p><br /></p><p><b><span style="color: #ff0000">Oil trades can take place in any currency but EVENTUALLY someone is going to want to hold dollars.&nbsp; </span></b>You can see that the dollar&#039;s share of trades has remained pretty stable in recent years.</p><p><br /></p><p><a href="https://www.federalreserve.gov/econres/notes/feds-notes/the-international-role-of-the-u-s-dollar-20211006.htm" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.federalreserve.gov/econres/notes/feds-notes/the-international-role-of-the-u-s-dollar-20211006.htm" rel="nofollow">https://www.federalreserve.gov/econres/notes/feds-notes/the-international-role-of-the-u-s-dollar-20211006.htm</a></p><p><br /></p><p><b>The dollar is ultimately backed by our large liquid financial markets...rule of law....private property rights.....etc.&nbsp; This is the ULTIMATE BACKING of a currency, not a precious metal or SDRs or oil or any other nonsense.</b></p><p><br /></p><p>Putin&#039;s Russia had $700 billion in reserves and an 18% Debt/GDP ratio, the best in the world.&nbsp; His Ruble is now down 99% in 2 weeks -- how&#039;s that working out for Ruble holders ? <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" /></p><p><br /></p><p><b><u>What you don&#039;t understand -- or more precisely, what the people you read don&#039;t understand -- is that there are only 2 fixed income markets that can handle billions of dollars in flows daily:&nbsp; the U.S. Treasury bond market and the U.S. mortgage backed-securities (MBS) market.&nbsp; THAT&#039;S IT !!</u></b></p><p><br /></p><p><b><i>If you have $10 billion -- oligarch, Central Bank, SWF -- do you think you can move that money into an asset class that trades $1 billion a day ?</i></b>&nbsp; It&#039;ll take you weeks or months.</p><p><br /></p><p>It took 30 years for Greece&#039;s Socialists to trash their currency and economy.&nbsp; They are a 3rd rate economy, mostly tourism.&nbsp; If it took them decades to fall apart, do you really think you will se the U.S. economy or the dollar collapse in your lifetime ?</p><p><b><span style="color: #0000ff"><br /></span></b></p><p><b><span style="color: #0000ff">An asteroid hit on Earth is more likely. </span></b><img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

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