Anyone with a computer can look this up. Here is the link from the Federal Reserve website ➼ https://fred.stlouisfed.org/series/A091RC1Q027SBEA5.5% of 32 trillion dollars is $1.76 trillion dollars and remember the debt ceiling will always be ignored by The Parasitic Class (Central bankers and their clients the Political Class and War Profiteers)
BRICS meeting released their new declaration of trade outside the US Dollar.
The new composition of BRICS will control 80% of world oil production. With the addition of Saudi Arabia, the United Arab Emirates, and Iran to the BRICS, the Union will be able to control the lion's share of the world's oil production.
Plus, Venezuela (World's Largest Oil Reserves) has applied. They were, by default, already trading outside the dollar since the US shot themselves in the foot years ago with sanctions. Remember, when you hear the word sanction it is just media spin for the US stealing someone else's money.
Back to Venezuela, they can be added to BRICS once their application is approved.
The new composition of BRICS will control 80% of world oil production.
BRICS Official declaration
BRICS controls 80% of world oil production.
BRICS Official declaration
- Last fall, after months of rising gasoline prices, the current administration directed the first of several releases from the Strategic Petroleum Reserve. This started as a stunt to win 2022 midterms ( the stunt I guess worked)
- Despite this foolish action, prices remain about 70% higher than 2020.
- The SPR was intended to maintain a reliable energy source during a catastrophe, not to be used as market manipulation for oil prices.
- Instead of draining America's emergency reserves, the US should have developed a sustainable energy policy using domestic production and search for all energy sources, such as:
- clean coal
- fossil fuels
- renewables (solar, wind)
- and Energy Recovery from the Combustion of Municipal Solid Waste (MSW)
- Energy recovery from waste is converting non-recyclable waste materials into usable heat, electricity, or fuel through various processes, including combustion, gasification, pyrolization, anaerobic digestion and landfill gas recovery. This process is often called waste-to-energy.
The US is technically an insolvent state. The largest line item in our budget is no longer any of these things below but paying interest on $32 Trillion (see graphic #1 above)
- Air Force
- Coast Guard
- Border Patrol
- Social Security
- US Mint
- National Parks
- Health, Human Services, Etc
- Municipal Governments (Police, Fire, Garbage Pickup, Sewer)
You will want to get yourself some gold and silver because not one paper currency has ever survived and this shit storm is just getting started.
Wait til you see the US response to losing the financial war. US Foreign policy, State Department (NEOCONS) will react as they always do (with bloodthirsty and immoral acts of war)
By unleashing the Military, the war profiteers & parasitic class will pretend like they are still in control by escalating and inventing provocations justifying wars.
So all we can do is protest, talk about this and treat each other kindly as the ugliness unfurls.