[sparkscoffee] Re: [sparkscoffee] The last time this happened, the US went to war to ‘defend...
- From: "" <dmarc-noreply@xxxxxxxxxxxxx> (Redacted sender "Sblumen123@xxxxxxx" for DMARC)
- To: sparkscoffee@xxxxxxxxxxxxx
- Date: Mon, 8 Sep 2014 12:32:13 -0400
RR
The hook, line and sinker swallower EXPERT ON EVERYTHING. If you can
figuire out what this
is saying you would be an equal to Albert Einstein.
Comrade B
In a message dated 9/7/2014 2:46:19 P.M. Eastern Daylight Time,
ristad@xxxxxxxxxxx writes:
by _Simon Black_ (http://www.sovereignman.com/author/simonblack/) on
September 6, 2014
Santiago, Chile
In 1974 Richard Nixon struck a deal with Saudi Arabia that might go down as
the biggest scam in US history.
In exchange for weapons and protection, the Saudis would sell their oil for
US dollars, then reinvest those dollars back in the United States.
This was a matter of life or death for the dollar at the time; Nixon had
closed the gold window three years before, and a massive devaluation of the
dollar ensued.
Ensuring that the world’s most traded commodity would only be priced and
settled in US dollars was absolutely critical in propping up the currency.
Looking back, it was a brilliant strategic move. The rest of OPEC followed,
and this sealed the deal for US financial, political and military
supremacy for decades.
The petrodollar was born.
Today, oil remains the most widely traded commodity in the world. And since
EVERY nation either buys or sells oil, it means that every nation holds US
dollars.
Rather than just sitting on a pile of paper currency, though, foreign
banks, governments, and central banks tend to hold US Treasuries, i.e. US
debt.
This means that the US government has a nearly unlimited supply of
foreigners to pawn off its dollars, debts, and deficits onto.
The rest of the world toils away to produce things. They work in the
fields, manufacture products in factories, pull oil and gas out of the ground.
The US, on the other hand, prints dollars… and then trades this paper to
foreigners for the stuff they’ve actually worked to produce.
It’s an unbelievable scam.
You’d think the US government would be gratefully sending fruit baskets to
every foreign country in the world, treating everyone like a welcome
friend.
But that’s not what they do.
The US government arrogantly commands every bank in the world to report to
the IRS. They drop bombs, send in drones, and invade foreign nations.
They spy on their allies and enemies alike. They freeze foreigners out of
the US banking system and fine foreign banks for doing business with
countries they don’t like.
It’s unbelievably stupid. Their behavior practically begs foreigners to
abandon the dollar, and the US.
And it’s starting to happen, right in front of our very eyes.
The US has shown that it’s willing to go to war to support this
petrodollar system.
(Saddam Hussein won support from the UN in the early 2000s to sell oil for
euros. Shortly after, he was gone.)
So the fact that it’s starting to unwind right now is very concerning,
especially given the existing battlefield in Ukraine.
Join me in today’s podcast episode as we explore how the petrodollar is the
US’ biggest Achilles’ heel and how it’s clearly in the early days of its
demise.
http://www.sovereignman.com/podcast/the-petrodollar-is-collapsing-and-its-on
e-of-the-biggest-opportunities-in-the-world-right-now-14975/
Every Ponzi scheme works right up until the day it doesn't. On that day
all paper claims are null and void and if you don't own something free and
clear and/or cannot hold it in your hand then either you don't own it or it's
worthless. This includes bank accounts, CD's, mortgaged real estate,
pensions, IRA accounts, stocks, bonds, and in this instance even cash USD
since
the USD is a fiat currency that isn't backed by anything. This is not the
first time a fiat currency has collapsed. In fact there have been hundred's
of fiat currencies in human history and every one, without exception, has
eventually collapsed and lost most or all its value.
-RR
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