muses of the moment

November 15, 2012

Petro-Dollar

Filed under: Dollar Crisis, Odds 'n ends, The Dollar Crisis, The Financial Crisis, US Government Debt — totallygroovygirlfriday @ 2:14 pm

Groovygirl knows she has posted similar links in the past. But she is reposting again: the issue of the fall of the petro-dollar is THE ECONOMIC ISSUE of the century. Very important read.

Click here.

Lindsey Williams: “The most significant day in the history of the American dollar, since its inception, happened on Thursday, Sept. 6. On that day, something took place that is going to affect your life, your family, your dinner table more than you can possibly imagine.”

…..

These duo actions by the two most powerful adversaries of the U.S. economy and empire, have now joined in to make a move to attack the primary economic stronghold that keeps America as the most powerful economic superpower. Once the majority of the world begins to bypass the dollar, and purchase oil in other currencies, then the full weight of our debt and diminished manufacturing structure will come crashing down on the American people.

This new agreement between Russia and China also has serious ramifications in regards to Iran, and the rest of the Middle East. No longer will U.S. sanctions against Iran have a measurable affect, as the rogue nation can simply choose to sell its oil to China, and receive Yuan in return, and use that currency to trade for the necessary resources it needs to sustain its economy and nuclear programs.

The world changed last week, and there was nary a word spoken by Wall Street or by politicians who reveled in their own magnificence as this event took place during the party conventions. A major blow was done on Sept. 6 to the American empire, and to the power of the U.S. dollar as the world’s reserve currency. And China, along with Russia, are now aiming to become the controllers of energy, and thus, controllers of a new petro-currency.

Side musing: any guesses on what Russia will spend their Chinese oil profits on? Military build up. Iran is a distraction, this is the real move. China as the economic power and Russia as its military back up, powered by the fall of the petro-dollar. The fullness of this change is a while off, but the certainty of it is as Britain fell and America rose in the first half of the 20th century.

It might be beneficial to read some personal diaries and news articles from Britain during WWI on through WWII. There were some major social riffs, especially between socialism and democratic ideas (stemming from high taxes for empire containment). Many titled families “sold” their sons in marriage to America’s wealthy daughters for money to run their estates after selling off all land to keep up with taxes and expenses. Although history remembers Winston Churchill well, not everyone in Britain at the time thought the same. And during this time, India was lost, through a combination of over-extensive military expenses and the non-violent rebellion headed by Gandhi and the international press he attracted.

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2 Comments »

  1. They are going to use the profits to buy US Treasuries! (haha)

    I think you are correct. I think they’ll use the profits to buy weapons, gold, etc.. They see what’s coming as well.

    Comment by MikePhila — November 16, 2012 @ 1:51 pm

  2. Of course, the US can counteract these strategies by bombing Iran and toppling the Iranian government. Proxy war via Israel.

    Comment by Janet — November 17, 2012 @ 11:43 am


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