Mentioned that in the last episode and he was so prescient about this pandemic situation when he predicted sort of a pandemic basically that negative rates were signaling that he predicted that last june or july he says i think we have just witnessed the end of the petrodollar system non us countries will soon see a new unit of account medium of exchange and store of value a new Bretton Woods that will not be decided in america or by americans right well all the key players necessary for that are involved right now saudi arabia russia states so the petro dollar of course was established in the early 1907 days with america and saudi arabia when america defaulted on its sovereign debt remember Richard Nixon defaulted on the dollar default on the treasury market and we went on the petro Dollar Standard because america had to close the gold window could no longer fulfill its obligations to. Its creditors this was the beginning of the petrodollar era and the beginning of all things everywhe
System non us countries will soon see a new unit of account medium of exchange and store of value a new Bretton Woods that will not be decided in america or by americans right well all the key players necessary for that are involved right now saudi arabia russia states so the petro dollar of course was established in the early 1907 days with america and saudi arabia when america defaulted on its sovereign debt remember Richard Nixon defaulted on the dollar default on the treasury market and we went on the petro Dollar Standard because america had to close the gold window could no longer fulfill its obligations to its creditors this was the beginning of the petrodollar era and the beginning of all things everywhere are being priced in dollars oil is being priced in dollars all commodities are priced in dollars i gave america the us empire of debt it gave america the World Reserve currency it gave america one. Called seniority which which is basically they get a cut over every transactio
A very warm welcome to you youre watching r. T. International with me nicky aaron our top stories several countries declared an emergency on friday response to the covert 19 pandemic spain joined in neighboring european nations which are struggling with containment measures the u. S. Has limited travel from europe the restrictions also affect military personnel there according to the pentagon while donald trump has announced the u. S. Is stepping up its risk level and response. To unleash the full power of the federal government the effort today i am officially declaring a National Emergency. 2 very big words. The action i am taking will open up access to up to 50000000000. 00 of. Very importantly for. A large amount of money for states and territories are loco that is in our shared fight against this disease and we heard from trump you speaking in the white house rose garden surrounded by mike pence and other officials explaining the dramatic measures now being taken in the United Sta
We also have the oil wars going on allegedly some oil wars we have russia versus saudi arabia the price crash you know kind of started with when the opec plus when they met you know saudi arabia essentially and russia and russia decided not to cut any production based on the decline in demand out of china and elsewhere but also right after that saudi arabia offered up to a 10. 00 discount per barrel just because i guess. Theyd been solomon got a little bit upset and threw a temper tantrum so thats what happened there but you know that seismic sell off a 30 percent and then followed by a like 101213 percent rise and boom bust and boom bust i thought this was an interesting tweet to kind of look at the whole situation is from royce we went to the last episode and he was so prescient about this pandemic situation when he predicted sort of a pandemic basically that negative rates were signaling that he predicted that last june or july he says i think we have just witnessed the end of the p
End of the day you know i dont see how we move a lot of system where these people get away with you know misrepresenting us why not step up and do it yourself. Max kaiser this is the kaiser report the pandemic it dition special times require special reporting of course because a report has been anticipating so much of whats going down around the world stop a big surprise for those of you whove been watching us for so many years is that right stacey max it is a continuation of the pandemic and the Pandemic Response in a pandemic situation we also have the oil wars going on allegedly some oil wars we have russia versus saudi arabia the price crash you know it kind of started with when the opec plus when they met you know saudi arabia essentially and russia and russia decided not to cut any production based on the decline in demand out of china and elsewhere but also right after that saudi arabia offered up to a 10. 00 discount per barrel just because i guess. Theyd been solomon got a lit