• Back in 1971, the USA printed and spent far more paper money than it could cover by gold.
•
Few years later Few years later, French demanded redemption of its paper-dollar holdings in gold. But the USA rejected as it actually
didn't have enough gold for the dollars it had already printed and
spent all over the world, thus committing an act of bankruptcy.
So
the USA went to the Saudis and cut a deal – OPEC denominate all sales of oil in US dollars.
•
From that point, every nation that needed to
buy oil had to firstly hold US dollars to buy oil, which meant that they exchanged their goods and services
for dollars, which the Americans just printed.
• The Americans bought their oil literally for free free by printing those
dollars. The ultimate free lunch for the Americans at the
expense of the rest of the world.
•
However, the scam began to unravel when Saddam Hussein started selling Iraq's oil directly for Euro, abrogating the
cozy arrangement the Americans had with OPEC. Thus Saddam had to be
stopped.
How?
• USA concocted up a pretext
to wage war (drama of twin tower blast) and invade Iraq and the first thing
the Americans did was to revert sales of oil back
to dollars. The currency crisis was averted for the
moment.
• But Hugo Chavez (Venezuela President) also started selling Venezuelan oil for
currencies other than
dollars, so there were a number of attempts on his
life and "regime change", traceable right back to the CIA. The
petrodollar cat was out of the bag.
• Iran President
(Ahmedinejad), Iran President (Ahmedinejad), watching all of this,
decided to kick The Great Satan in the goolies and do
the same thing - sell oil for every currency EXCEPT US dollars.
• The shell
game is coming to an end for the Americans. As the nations of the world
find that they can buy oil for their own
currencies instead of
holding paper US dollars, more OPEC nations
will abandon the dollar.
• The worst thing for the Americans is
that eventually, they will also have
to buy their oil with Euro or Rubles instead of just printing paper money to get it.
• That will be the end of the American Empire, the end of funding for the US military and the destruction of the US
economy.
• The great scam is coming to an end and there's not a lot that the USA can do about it, except start another world war!!!
• Wait and Watch… Only few years/months ahead.
William R. Clark is manager of performance improvement
at Johns Hopkins University School of Medicine. His research
on oil depletion, oil currency issues and US geostrategy
received a 2003 Project Censored Award and was published in
Censored 2004. He lives in Columbia, Maryland.
He is the author of several books, among them: Bracing for Armageddon?: The Science and Politics of Bioterrorism in America
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