Petrodollar Warfare !!
William R. Clark - the Manager of Performance Improvement at Johns Hopkins University School of Medicine discloses the truth in his book “Petrodollar Warfare,” Many don’t realize that the primary reason for the Iraq War and the current war threat against Iran is not the threat of nuclear weapons or terrorism or the oil. It’s all about the protection and piling up of the US petrodollar.
In 1971, American treasury printed and spent far more paper than it could cover by gold. A few years later, the French demanded redemption of its paper-dollar holdings in gold. The Government rejected that demand, because it didn’t have enough gold for the dollars it had already printed and spent all over the world, thereby committing an act of bankruptcy. However, the government drafted a deal with the Saudi Arabians, in which OPEC made all sales in US dollars.
From then, every nation that needed to buy oil had to first hold US dollars, which meant that they exchanged their goods and services for dollars, which the treasury just printed. Thus, America bought its oil literally for free by printing those dollars. It appeared to be the ultimate free lunch for Americans at the expense of the rest of the world.
This scam began to unravel in 2000, when Saddam Hussein began to sell Iraq’s oil directly for the Euro, which was against the arrangement the US government had with OPEC. So, Saddam had to be overthrown somehow. The White House created a reason to wage war and invade Iraq and the first thing they did in 2003 was revert sales of oil back to dollars. Thus, for a short time the currency crises was avoided.
In 2006, Hugo Chavez the President of Venezuela started selling his country’s oil for currencies other than dollars and a number of attempts on his life and regime change were attempted, which were traceable to the American CIA. Next, the Iranian President Ahmadinejad decided to start selling oil for every currency except US dollars. The petrodollar scam is coming to an end. As the countries can buy oil with their own currencies instead of holding the dollars, more OPEC nations will abandon the dollar.
The worst thing for the American people is that eventually, they will also have to buy oil with Euro or Rubles instead of just printing money to get it. It will not only be the end of the American Empire, but the end of massive funding for US extensive military and the destruction of the economy.The scam is about to end and there’s nothing that can be done about it, except start another war, which could be just months away.
After all 70% of all trade reserves are in US dollars. Any sudden shift in the value of the dollar would bring disaster for everyone. What if the American economy crashes ??? The world nations that invest and depend on America will face a severe setback in its economical growth. Many countries have major exports to America as the spending power is high there. If there is no spending / purchasing power what will happen ??? Think about it !! It will be the end of many economies.. it may even lead to barter system.
