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Historically, buying and selling oil was done in US-dollars through oil exchanges—bourses—in London and New York.
The bankers’ global depression set-up World War II and their own central banks funded all participants as well as America’s industry via confederates such as J.P Morgan and Goldman; the U.S. supplying the war machinery, provisions, and munitions for the allies in return for payments in gold.
By one count, more than half of the world’s gold wound up in America after WWII.
Following Bretton Woods, the US dollar—immune to inflation and then referred to as “good as gold”—was printed and exported worldwide to be used to grab war-weary nations by the economic short hairs. This, some have argued, was the beginning by the bankers to launch world monetary, resource, and economic consolidation.
A few decades later, the world’s vaults were bulging with dollars; the US having sent/spent more dollars abroad than at home.
Today, analysts pretty much agree that outside the US, of the savings, or reserves, of all other countries—in gold and all currencies—that a massive 66% of this total wealth is in US dollars.
In 1971 several countries, including France, simultaneously tried to sell portions of their dollars back to the US for gold.
Visions of dollar-laden airplanes showing up in America to exchange for gold danced in banker heads.
The U.S. gold window mysteriously slammed shut.
A default of sorts.
The bankers now had to find a way for the rest of the world to believe in the dollar’s strength.
Their solution was the “petrodollar.” It would be the only “authorized” medium of exchange for oil; the international banking cabal having “convinced” Saudi Arabia and OPEC to sell oil for dollars only.
All other countries had to keep dollars in their vaults to buy oil. This enabled the US to buy oil inflation-free all over the world.
Oil replaced gold as the dollar’s foundation.
The fed owned the dollar’s printing presses and allowed the government to keep its import tariffs up. The London bankers were still relying on the U.S. military in case anyone got out of line globally.
More vaults were built worldwide to hold US dollars.
The bankers decided it was time to divvy up America’s pie.
So the euro was established in late 1999 with themselves in charge of that, too.
A few months after the euro was launched, Saddam’s Iraq announced it was switching from selling oil in dollars to selling oil in euros —breaking the OPEC “agreement.”
Iran , Russia , Venezuela , and Libya all began talking openly of switching, too.
The world’s reserve currency was under attack. What’s ‘free’ market to do?!
Unbeknownst to Americans, war preparations to invade Iraq had begun years prior.
Iraq began selling oil in euros in 2000.
In 2002, Iraq started changing all of its petrodollars to euros.
In 2003 the U.S. invaded Iraq; bombing and irradiating the country with depleted uranium ammo.
The world watched as the first “petro-wars” got underway.
The US secured Iraq’s oil ministry records and buildings—the only government buildings in Baghdad not bombed—first.
Wolfowitz dismantled Iraq’s infrastructure, made 100 on-the-spot decrees for the victor that included. (1) all prior oil contracts null and void, (2) that only genetically modified seeds could now be planted by Iraqi farmers, and (3) that Iraq’s central bank would be turned over to the international banking cabal headed by. . .(fill in the blank).
The first sale of Iraqi oil that followed was in petrodollars.
In early 2003, Hugo Chavez, President of Venezuela, talked openly of selling half of its oil in euros (the U.S. was purchasing the other half)
On April 12, 2003, US-supported business leaders in Venezuela and some generals there attempted a coup.
The coup failed.
Not good either.
Previously, almost all the world’s oil was sold on either the NYMEX, New York Mercantile Exchange, or the IPE, London’s International Petroleum Exchange.
But it made sense for Europe and its euros, which buys 70% of Iran ‘s oil. Made sense for Russia, too, which sells 66% of its oil to Europe. China, India, Japan, Chavez; all thumbs up.
So maybe. . .maybe it’s not about oil per se, but more about what’s left of the dollar?
If there is a “surgical” deja-vu strike on Iran’s “weapons of mass destruction”, don’t bet against a certain oil exchange not being bombed.
But, if Iran won’t accept dollars for oil, where else would the above countries unload them?.
Problem: There are no buyers because everyone else is trying to unload dollars too. And five percent of the world’s dollars is about all the U.S. can accept without walking the cliff plank. Same problem for other world economies.
By design? Maybe. Maybe not
So what will happen? Financial chaos, probably.
A workers’ revolution? Doubtful. (not enough workers left)
Ummm, let’s see. Looking at the situation as it is now, a few chips on a banker re-run of a 1929 Germany/Great World Depression might not be a bet.
World seems pushed toward the new currency thing and a world “government-run” by unelected bankers; them riding in to “rescue” the world from the financial miseries they so deftly set in motion again. Fits their one world agenda and appointed government with themselves in charge with a cash-strapped, bleary-eyed humanity looking on.
The vast majority of humanity, anyway.
Banking. It’s a wonderful occupation if you don’t mind trashing, stealing, and inflicting misery on people for gain.
China has been buying gold and silver like a drunk sailor over the past few years and, some think, is the number one holder of gold in the world now.
Russia is traveling down that same road. Along with the other 150 central banks the London bankers own in the world’s strategic nations, and which control the currencies in those nations; including the U.S.
But, not to worry. Helicopter Ben said gold isn’t money.
Can the U.S. find a way to pay for—account for—every dollar stuffed in the world’s vaults?
Only the Shadow (gov-ment) knows.
Bombing Iran could backfire and bring Iran openly into war and resurrect Iraq’s Shiite majority squarely behind theirs. A Shitte-squared war, so to speak.
And a Shiite draw would unite the second and third largest oilfields in the Middle East.
Have you noticed what, at this point, appears to be the beginnings of a Mexican stand-off in Syria?
World problems like these swim in the heads of humane bankers. It’s their aphrodisiac and serotonin rush; a titillating game—especially when you control all the dollars and information doled out to the public.
The puppets await their string-tugs.
The bankers wrestle with their dilemma.
The new Iranian Oil Bourse hums in the Persian Gulf.
Is this exciting or what?
Why the Dollar Bubble is about to burst (Steve Masterson, London, May 2006)
The Proposed Iranian Oil Bourse (Krassimir Petrov, Jan 2006)
Oil, Currency, and the War on Iraq (Cóilín Nunan, Scotland, Dec 2003)
Petrodollar Became the Essential Basis for the US Economic Hegemoney in the 1970s. (Bulent Gokay, Keele University, May 2006)