💤 30s/F/Indian 💤

aapko protest me agenda dikh raha hai par cabinet me baitha genda nahi dikh raha

nobody funds me, i hate this corrupt government for free

asking your elected leaders for accountability. is that the bare minimum or princess treatment?

for a generation that suffers so much backpain, we sure do have a spine.

looks like the chai wala did not like the genz spilling the tea

It has been literal years but every time I see Martin’s tweets posted somewhere and his word is shared as truth while her post is not shared it sort of reiterates the fact that we trust men to speak about feminism more than we believe women who experience it. 

Adding screenshots of her post. His whole post is there without needing a link. Hers should be, too.

1. The United States creates dollars, which costs them essentially nothing.

2. Over time, US military power compelled the biggest oil producers (starting with Saudi Arabia in 1974) to trade exclusively in dollars.

3. When a company needs oil, it needs dollars to buy it. You can obtain dollars in a number of ways: you can take a loan or you can sell shoes to the US or teacups to Europe. Notice that the factory has to ship actual shoes to the US or to third markets in order to obtain, basically, a bookkeeping entry that took the US microseconds to create.

4. The oil company receives the shoe factory's dollars in exchange for oil. It invests these dollars into US treasury bonds or securities, which is really the only sensible thing they can do --cash deprecates in value over time, and there are virtually no other risk-free places to park your billions of dollars worth of oil earnings.

5. The US puts part of the investment it received into military use, so that it can keep anyone who would dare to detach from this dollar hegemony in check. The rest goes to enrich the US. Return to step 1.

Note that this mechanism is essentially an obfuscated tax on the rest of the world. An Iranian shoe factory has to obtain dollars if it wants to buy oil, and the oil company is incentivized to store its dollars in the US treasury. This means that part of the value that foreign capitalists would otherwise pocket actually ends up in the United States.

To obtain a million dollars, the US government pushes a button; to obtain the same million a Bangladeshi factory has to sew 500 000 T-shirts.

Because the oil bill comes in dollars and the only deep, liquid, politically safe asset is a US Treasury bond, value flows to Wall Street.

In other words: The US creates money, manufactures a need for everyone to hold some of that money, and then incentivizes them to return that money to the US.

The petrodollar was only ever the beginning. Many things are gated behind the dollar: Shipping, aviation, SWIFT transactions, etc. Everyone needs dollars; if you can't get any you're going to struggle in the global capitalist economy. This is why the US gets to create seemingly endless dollars and have them still hold value, it's why the US can bend anyone reliant on the dollar to their will via sanctions; the dollar itself acts as a weapon. Of course, the status quo is maintained at gunpoint, and the dollar's value is ultimately backed by US military might. The United States exports death.

Because of all of this, the US has an enormous material incentive to keep oil flowing, to keep its military spending high, and to topple any and all projects that would endanger this system. To stop the flow of unequal exchange, to stop the coercive taxation over the rest of the world, would be to destabilize the US empire. Anyone who would provide an alternative must necessarily be seen as an adversary.

Want to nationalize your oil? Want to deal in another currency? Are you another military superpower? No? Too bad, here's one million drone strikes and a new *democratic* government for you.

* Are elephants scared of mice? (They only did that because they were in Africa and had access to elephants.)

* Will a bull run amok in a china shop?

* Is it better to run zig-zag or straight when chased by an alligator?

I love these because NONE of them turned out the way they expected. They went into all three with pre-conceived ideas of how it would go, and each time they "failed." Elephants WILL cower from mice. A bull moves very gingerly through a china shop. It doesn't matter how you run because ALLIGATORS WON'T CHASE YOU.

And each time, they reacted with just... pure glee. "Holy shit, we were wrong! Oh my god! This is great! We were so wrong!"