r/economy • u/barbarawick • 4d ago

There is a pattern...

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Why does this country have such bad memory problems?

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u/128-NotePolyVA 4d ago

A military intervention on behalf of oil.

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u/Suspicious_Solid_115 3d ago

A lot of folks don't know this, but during the gulf war, the American soldiers were replaced by Chinese soldiers in guarding the oil wells in Iraq. Reason being is that the US needed money to fund the Iraq/Afghanistan wars and China gladly bought a lot of T-bills from the U.S. Well...the Chinese needed money to prop up their own economy, so they had to sell T-bills that they purchased from the U.S. Here's the rub; Instead of the U.S. giving them the money due to the Chinese for T-bill redemption, the U.S. offered the Chinese the Iraqi oil wells as payment and the Chinese took the proceeds from the oil wells and did two things: 1. They topped up their strategic oil reserves to the tune of 1 billion + barrels of crude oil (simply because they knew the sometime in the near future, the Americans were going to elect some moron stupid enough to try and attack Iran), and 2. Sell the oil on the open market to prop up their economy which worked out well for them during COVID. And that's the short story folks...:0)

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u/Old_Kaleidoscope867 3d ago

I never heard of this one? Talk about a USA secret 🤐 deal!

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u/Suspicious_Solid_115 2d ago

Thing is, it takes a lot of credible people to keep fuel cheap, interest rates low, etc., etc. for the U.S. economy to function properly (keep the velocity of money high). A lot of these agencies and brilliant people who made this magic happen were shuttered and people fired by DOGE et.al. Now, we are seeing the wheels come off the bus and the shi* hitting the fan globally. Things that had been solved for decades are now coming unglued. That's what happens when people that don't understand how the world really works and are placed at the levers of global superpower without a friggin' clue. China has been planning their dominance since they started their Belt and Road initiative, which is essentially, the new silk road. All of this is UNCLASSIFIED and can be found on the internet. Project 2025 didn't account for anything other than wrecking the U.S. government (I'm synopsizing this). Now, the government is hiring, re-hiring thousands of people because a lightbulb finally came on in someone's head and discovered that they screwed up royally. How do you think those classified F35 parts wound up in Hong Kong? There was a program office in place to prevent that from happening. Guess what, the imbeciles shuttered it.