You’re thinking Nukes? Terrorism? Oil?
It all comes down to the greatest con-job in modern history – The US Petrodollar scam.
In 1971, USA printed far more currency than it could back with gold. A few years down the line, the French claimed redemtion of it’s dollar holdings in gold. The USA failed to deliver its obligation which led global leaders to revisit the foundation of global financial mechanisms.
This meant that from then on, every nation needed to hold US dollars to buy oil. They had to exchange their goods and services for dollars which americans printed.
The americans bought their oil virtually for free by printing those dollars and at the expense of the rest of the world.
The scam came to the forefront when Saddam Hussein decided to sell Iraq ‘s oildirectly for the Euro, thus ‘dishonoring’ the convenient arrangement the Americans hoped to keep with the OPEC.
Saddam had to be stopped.
In mid-2006 Venezuela indicated support of Iran’s decision to offer global oil trade in the euro currency.
A simple examination of America’s foreign policy efforts in the wake of the ‘oil shock’ of 1973, and in the ensuing foundation of the petrodollar system in the mid 1970’s, makes it painstakingly clear to any casual political observer that a central goal of Washington has been to control global oil supplies.
Since 1980, the U.S. has feverishly built military bases all over Western Asia. Understanding the petrodollar system will help you make sense of the hundreds of U.S. military bases stationed in over 130 countries. After all, maintaining an empire dependent upon a “dollars for oil” system is no cheap task and requires careful monitoring and oversight of the world’s oil supplies. Chief among the potential concerns for the petrodollar guardians are: threats of restrictions on oil supplies, new oil discoveries in potentially “anti-Western” oil fields, the nationalizing of a country’s oil supplies, and perhaps most importantly, devising “permanent solutions” to the problems presented by nations who dare challenge the current “dollars for oil” system.
How long will it be before the nations of the world figure out the dollar fiasco is a fraud? Instead of viewing U.S. dollars as worthless paper backed by nothing (as they should), foreign oil producers and consumers were convinced — and required — to hold U.S. dollars in order to purchase oil back in the 1970’s.
Dr. Bulent Gukay of Keele University puts it this way:
“This system of the U.S. dollar acting as global reserve currency in oil trade keeps the demand for the dollar ‘artificially’ high. This enables the U.S. to carry out printing dollars at the price of next to nothing to fund increased military spending and consumer spending on imports. There is no theoretical limit to the amount of dollars that can be printed. As long as the U.S. has no serious challengers, and the other states have confidence in the U.S. dollar, the system functions.”
Pay particular attention to Dr. Gukay’s comment regarding “serious challengers” to the United States. And as the global economy continues to evolve, a whole host of competing currencies will rise to challenge the current dollar hegemony. In fact, that movement is already afoot.
What does that mean for you? In essence, expect more perpetual wars against faceless and nameless enemies as we have seen in the War on “Terror.”
Expect the the theater for these conflict to conveniently be staged in Western Asia — where the majority of the world’s oil supplies lay waiting for their Western “liberators.”
When you “follow the money”, everything begins to make much more sense.
Sources of inspiration/Good read: