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Josh Sigurdson talks with author and economic analyst John Sneisen about the alarming nature of Saudi Arabia's economy as gasoline prices have DOUBLED. The petro dollar is toast and Saudi Arabia's economy is facing severe circumstances.
As John goes into, the dependency on petro is the downfall of so many economies including just recently, Zimbabwe and Venezuela.
After Kissinger brought Saudi Arabia into the global US dollar system, it forever marked the inevitable doom of the Saudi economy.
Apart from being an incredibly oppressive country, the people of Saudi Arabia are heading straight for a collision with absolute poverty and debt servitude marking their end.
All fiat currencies eventually revert to their intrinsic value of zero. They always have, they always will. This goes back to 1024 AD in China. The fundamentals are off the table due to the vast manipulation in the monetary system so we cannot put a date on the coming crash, but we simply know it's going to happen.
Team this with the heavily manipulated derivatives markets worldwide, the crumbling global central banking system, big government, the fall of gasoline demand throughout the world as well as absolutely absurd bank offerings like auto backed securities and it's clear that we're heading for a calamity the likes of which the world has never seen.
But there are solutions! Decentralization, financial responsibility, self sustainability are all important hallmarks of freedom, liberty and individual security. This is not financial advise, but simply our opinion here at WAM but we hope our great viewers can read between the lines and see how obvious these points are.
Stay tuned as we continue to cover these stories!
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Their gas is subsidized, their electricity is subsidized, utilities are subsidized. No taxes. In fact, if you are the right religion and have family connections, you get a government job which really means you don’t have to do any real work.
What really will happen is all these people are so accustomed to all these things that chaos is inevitable when the day comes when all those people have to turn their AC off when they leave the house because they will have to pay. Paying income taxes for the first time could very well start a revolt against all those thousands of princes that live in luxury off the Saudi government.
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You say all these things are subsidized but no taxes. That subsidization comes from taxes.
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Wrong. In Saudi Arabia, subsidies come from oil exports. That is why the Saudi royalty are filthy rich. In the past they have made so much that they have no taxes and still have so much that they subsidize things.
Now that oil prices are down, they are struggling to make ends meet.
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Norway has some of the highest fuel prices in the world and Saudi some of the lowest. Norway is way too clever to waste their resources and instead decided to use there wealth to become the most fuel efficient country and therefore has plenty left to export. Saudi made it super cheap and now they waste internally more and more that could have been sold. The Saudis are wasting the gift that could have permanently lifted them to a higher standard of living forever. Keep building palaces and see where that turns out! Wasters
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how much do they pay a gallon?
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Seriously... Lmao. Who is surprised, AT ALL by this?!?!? @joshsigurdson, is on point, however.... Saudi "princes", will ALWAYS look after their OWN INTERESTS in basically SETTING ALL the Big Oil prices, of the world.... AND, everyone keeps letting them get away with it.... Welcome, everyone else... To the REALLY, REAL WORLD......lol. Solid, awesome post, @joshsigurdson. Kudos.
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Everything is crumbling! Crypto is the most stable thing :))
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May they turn sides with China?
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Is this what's next for the US?
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They are about to jump down here in The Gulf and suck us dry... New plan to come a lot closer to the shore. Obviously that's future oil, but the industry is dying... rightfully so if you ask me. Not pointless technology, but we have to dial it back :) A lot...
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Love y'all's talks and topics. Helping me watch the world, lol. We were feeling this coming... here we go. Seat belt on? lol We are goin' to just keep Steeming along. Cheers!
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I'm not looking forward to the possible increase in gas. It seems every couple of years we have a "Gas Crisis" and the price skyrockets. Our dependency is unfortunate.
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