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The Biggest Winners And Losers From The Petrodollar's Decline
The Biggest Winners And Losers From The Petrodollar's Decline
Authored by Nick Giambruno via InternationalMan.com,
The Iran war is straining US weapons stockpiles and raising doubts about Washington's ability to protect the Persian Gulf.
If that weakens the petrodollar and pushes oil producers away from the US financial system, two assets face clear headwinds: the US dollar and US Treasuries.
The petrodollar system helped create structural demand for both.
If oil exporters sell more energy outside the dollar system, fewer oil dollars need to flow back through Wall Street and into Treasury securities.
At the...
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Federal Court Strikes Down 158-Year-Old Home Distilling Ban
Federal Court Strikes Down 158-Year-Old Home Distilling Ban
Authored by Kimberly Hayek via The Epoch Times (emphasis ours),
A federal appeals court on April 10 declared a nearly 158-year-old ban on home distilling to be unconstitutional, ruling that the ban was an unnecessary and improper means for Congress to exercise its power to tax.
A judge's gavel rests on top of a desk in a courtroom in Miami on Feb. 3, 2009. Joe Raedle/Getty Images
Writing for a three-judge panel in McNutt v. U.S. Department of Justice, Judge Edith Hollan Jones of the...
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