A PetroRuble Now Competes with a PetroDollar

April 19, 2022
Hosted by Jay Taylor

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Guest Information

Episode Description

Ellen Brown and Quinton Hennigh are this week’s guests. By design Americans are kept in the dark about money. We are taught nothing in our classrooms about what it is or how it is created. That is by design because as Henry Ford once said, “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” In fact, the mystery of money has become greater since 1971 because the dollar used for international trade was debased by Nixon when he no longer allowed the convertibility of the dollar into gold at $35 per ounce. That made the dollar the world’s reserve currency but only because the U.S. has used its military might to enforce an initial agreement with Saudi Arabia that the world would pay for imported oil only with U.S. dollars. In 1999 the euro began to erode the dollar’s dominance. But now the U.S. got a new and much larger threat to its global currency dominance when Russia responded to sanctions launched against it after the Ukrainian war. In March 2022 Putin did what Nixon did in 1971. He demanded payment in rubles or gold from “unfriendly” countries that wish to buy natural gas from Russia. Unless large parts of Europe don’t care if they freeze to death or don’t mind heading into an economic depression, Russia has given many European countries a deal they simply can’t refuse. Ellen Brown will walk us through the history of the 1970s creation of the Petrodollar and the events leading up to the March 2022 creation of the PetroRuble and what the demise of the U.S. dollar’s dominance is likely to mean for the financial status of Americans. Quinton will update us on Lion One Metals as that company is moving toward start-up production even as it continues to expand its very high grade alkaline gold deposit in Fiji.

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Jay Taylor’s show will explain the real underlying causes for plunging stock prices, plunging home prices and growing unemployment. By correctly diagnosing the cause of America’s economic decline, rather than listening to excuses from Wall Street and Washington, Jay will offer winning investment ideas to protect and increase wealth.

Topics to be discussed will include the cause of the decline of: our monetary system and our economy, the housing markets, the equity markets, and commodities, Why gold and silver are rising in value and how investors can profit from the direction of these markets through specific stocks, ETF’s and precious metals will also be discussed. Turning Hard Times into Good Times is broadcast live every Tuesday at 12 Noon Pacific Time on the VoiceAmerica Business Channel.

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Jay Taylor

Jay Taylor

Jay Taylor has been able to more than double his newsletter’s model portfolio from 2000 to the present even as the S&P 500 was in the process of losing 50% of its value!

The insights provided to Jay came from a history professor in 1967 who advised Jay that when countries go off a gold or silver standard, hard economic times are sure to follow because nations begin to think they do not need to work hard and save to enjoy a better life. Indeed there is no free lunch and a gold standard reminds people of that every day.

Jay watched his professor’s prophetic words come true when in 1971, President Nixon completely detached the dollar from gold. Not surprising to Jay, the price of gold skyrocketed in the late 1970s as inflation wiped out vast amounts of wealth from average Americans. To protect his own wealth Jay began to invest in gold and gold mining shares and in 1981 he began sharing his success and insights in his newsletter. In 1981 Jay began writing a subscription newsletter that has earned his subscribers countless thousands of dollars over the years.

Jay’s insights as to the real cause of our problems has enabled him to find investment strategies that work. Diagnose a problem correctly and you have a chance for success. Diagnose a problem incorrectly as the establishment does and you are sure to fail.

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Episode Directory

May 2022

April 2022

  • 4/26/2022: Markets to Own with “Outside Money” Trumping “Inside Money” Listen Now
  • 4/19/2022: A PetroRuble Now Competes with a PetroDollar Listen Now
  • 4/12/2022: Edging Towards a Gold Standard Listen Now
  • 4/5/2022: Making Money with Crescat Capital Listen Now

March 2022

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