THE WORLD SLOWLY WAVES “GOOD-BYE”
TO THE PETRO-DOLLAR.
By PM Fund Manager Dave Kranzler, Investment Research Dynamics. April 3, 2014
It has been the
global use of the dollar to settle all OPEC oil trades using the U.S. dollar
that has kept the dollar from losing its reserve status ever since Nixon closed
the gold window in 1971. Essentially
this factor has kept the dollar propped up for a lot longer than it should have
been.
By imposing its imperialistic will on the rest of the world, the U.S. is undermining its sole source of power – the reserve status of the U.S. dollar.
By imposing its imperialistic will on the rest of the world, the U.S. is undermining its sole source of power – the reserve status of the U.S. dollar.
Many of us believe that defense of
the petro-dollar has been one of the primary motivating factors behind the
imperialistic aggression of the U.S. in both the Middle East (including Libya)
and in non-NATO eastern Europe. For instance, it is well-known that
Saddam Hussein was threatening to only accept euros for oil several months
before the U.S. Government lied its way into invading Iraq and exterminating
Hussein. Ditto for Libya.
As many of you are aware, China has
been quietly and slowly advancing the use of the yuan to settle counter-party
trades with many of its largest trading partners. Recently the yuan
surpassed the euro as the second most widely used currency globally. China
is also negotiating a massive ruble/yuan trade deal with Russia and is said to
be discussing an oil deal with Saudi Arabia that would settle using yuan.
I bring this up because Reuters
reported today that Russia is close signing a $15-20 billion oil-for-goods deal
with Iran – LINK. The two parties were forced into
this deal because of U.S.-imposed economic sanctions on both countries.
The irony in this is that in imposing its imperialistic will on the rest
of the world, the U.S. is undermining its sole source of power – the reserve
status of the U.S. dollar.
My personal belief is that the U.S.
will find some excuse to trigger a global military conflict before allowing
the final sequence of events unfold that would lead to a rapid collapse
of the U.S. dollar. Let’s hope I’m wrong, but I always like to rest my
views on historical precedence when it comes to judging and forecasting human
activity, especially the behavior of those in control of empires. One
thing we’ve learned for sure from history is that we never learn from history…
SIMILAR ARTICLES:
- Petro Dollar Going the Way of the Dodo Bird as China Begins Selling Oil Using Yuan
- Jim Willie: The Petro-Dollar Sunset
- Australia and China Strike Another Nail into the US Dollar for Independence Day
- Jim Willie: Seismic Waves of Destruction Coming for the US Dollar!
- Jim Willie: The Birth of the New 3rd World Dollar
===========
No hay comentarios:
Publicar un comentario