PetroDollar Scam!

[JK8]

Back in 1971, the USA printed and spent far more paper money than it could cover by gold.

Few years later, French demanded redemption of its paper-dollar holdings in gold. But the USA rejected as it actually didn't had 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, which meant that they exchanged their goods and services for dollars, which the Americans just printed.

The Americans brought their oil literally for 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), watching all of this, decided to kick The Great Satan in the goo lies 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.


Dont believe this ... Just Google it !!!

Theres alot of links, even on Wiki(not saying Wiki is always correct)
http://www.mouthshut.com/diary/acehsulmm/PetroDollar-Scam

 

[Pitbull]

I like the theory.

Makes sense in all respects. Might even be the reason the US is falling appart. I'm all for an "All currency oil trade"

 

[Solidus]

Back in 1971, the USA printed and spent far more paper money than it could cover by gold.

Few years later, French demanded redemption of its paper-dollar holdings in gold. But the USA rejected as it actually didn't had 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, which meant that they exchanged their goods and services for dollars, which the Americans just printed.

The Americans brought their oil literally for 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), watching all of this, decided to kick The Great Satan in the goo lies 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.


Dont believe this ... Just Google it !!!

Theres alot of links, even on Wiki(not saying Wiki is always correct)
http://www.mouthshut.com/diary/acehsulmm/PetroDollar-Scam

Glad to see it's finally coming out, any free thinker can see this.
10 to 1 I bet someone is gonna say it's lies and America is still the greatest thing since sliced bread.

 

[Pitbull]

Glad to see it's finally coming out, any free thinker can see this.
10 to 1 I bet someone is gonna say it's lies and America is still the greatest thing since sliced bread.

America itself is a great nation with great people.
It's the leaders that is giving Amrica a very bad name

Don't blame the country for the leader's mistakes.

 

[mercurial]

http://mybroadband.co.za/vb/showthread.php?t=126479

 

[Frankie]

Glad to see it's finally coming out, any free thinker can see this.
10 to 1 I bet someone is gonna say it's lies and America is still the greatest thing since sliced bread.

And 10 to 1 we could expect these ant-West indoctrinates to revel in anything negative about the USA.
Been pumped up in the Friday cessions again?

Here you'll find loads more anti-USA sentiment on a so called religious web site.

 

[ld13]

Dont believe this ... Just Google it !!!

Theres alot of links, even on Wiki(not saying Wiki is always correct)
http://www.mouthshut.com/diary/acehsulmm/PetroDollar-Scam

I don't believe in aliens as well, but no amount of Google-ing is gonna prove otherwise JK8.

Makes sense in all respects. Might even be the reason the US is falling appart.

How does it make sense? It goes against Economics 101. In all aspects!

10 to 1 I bet someone is gonna say it's lies and America is still the greatest thing since sliced bread.

It is lies. All lies. There you go But America was never and will never be the greatest thing since sliced bread.

 

[JK8]

I don't believe in aliens as well, but no amount of Google-ing is gonna prove otherwise JK8.



How does it make sense? It goes against Economics 101. In all aspects!

The "Dont believe this ... Just Google it !!!" is part of the article. I did find alot of articles confirming it and no articles against this thinking.

Well by the term "Scam" it would be appropriate to go against what everyone is learning in Ecos supply and demand theories...

 

[Pitbull]

I don't believe in aliens as well, but no amount of Google-ing is gonna prove otherwise JK8.



How does it make sense? It goes against Economics 101. In all aspects!



It is lies. All lies. There you go But America was never and will never be the greatest thing since sliced bread.

The USA has been over printing Dollar, that is a fact.
All Oil trade pre 2006 was done in Dollar only. Now the more demand for the dollar, the higer the dollar price goes. Each and every country in the world needed dollars to buy oil. Thus the Dollar was over valued. Now with trade happening in all currencies there is no demand for dollars which means a reduced Dollar price.

What Ecconomics class did you go to ? Banto Education ?

 

[Arthur]

This is the same voodoo economics zero-sum thinking that lies at the heart of so much Middle Eastern and African political and economic thought. These people just don't understand money or economics, which is why their economies are not "developing" but "never-to-be-developed". It would be very funny if it wasn't so sad for millions trapped in those awful narrow societies.

Granting the argument for moment: How on earth do Americans get their oil "effectively for free" under this scheme? Just where does the hard-earned money come from and go that the average American pays for gas?

Can you attach some numbers to the theroretically maximum Iraqi/Euro shipments vs actual Saudi/dollar shipments. You will see there are probably two orders of magnitude difference, which demolishes another pillar of the 'argument'. Yet this is the sort of silliness that finds credibility in the Arab Street - most people 'know' America is evil but don't know enough economics to refute this sort of nonsense. It confirms one prejudice, so the other must be true, eh.

Finally, "all currency" trades will not change anything. Not for America, or for anyone else. In the end value-store and convertibility is what it's all about.

This theory is based on outdated and discredited Keynesian notions of trade and current account deficits mixed with adolescent zero-sum notions of wealth and "America is the Great Satan" prejudice. As many an economist has observed (not least the latest Nobel laureate in Economics), Keynesianism is dead from the neck up. Ditto for this theory.

 

[ld13]

I did find allot of articles confirming it and no articles against this thinking.

Well by the term "Scam" it would be appropriate to go against what everyone is learning in Ecos supply and demand theories...

Just cause there are 100 articles about aliens does not make it true.

I've heard of this 'scam' millions of times before, it has valid grounds and all that but I highly doubt some of the accusations contained therein is 100% accurate. eg The whole Hugo Chavez story. I just do not fall for it.

What Ecconomics class did you go to ? Banto Education ?

The one that clearly shows me the current economic crisis cannot just be blamed on some overvalued dollar alone. If the US did print US$'s like crazy, the normal economic 'laws' will kick in at some time and bite them in the @$$. But I do not think the current situation is due to that.

 

[Pitbull]

The one that clearly shows me the current economic crisis cannot just be blamed on some overvalued dollar alone. If the US did print US$'s like crazy, the normal economic 'laws' will kick in at some time and bite them in the @$$. But I do not think the current situation is due to that.

I never said it was blamed for that. I did make a comment that says "Might even be the reason the US is falling appart"

I'm not saying it is, but it sure has some value

The USA has make some very dodge decisions and they are now stuck with the hot potatoes. But the fact that the dollar is a ticking time bomb is not even a thought no more. It's a true reality and the world is just waiting for it to happen.

And I think we'll see it happen in the next few days.

 

[JK8]

Just cause there are 100 articles about aliens does not make it true.

I've heard of this 'scam' millions of times before, it has valid grounds and all that but I highly doubt some of the accusations contained therein is 100% accurate. eg The whole Hugo Chavez story. I just do not fall for it.

If I remembered correctly it was the "in" thing to do in the 60's and 70's print more money... The US just found a way to sustain it and keep it undercover.

I always wondered why they have these big engine cars that use more fuel than needed. It also ties in with the "Who killed the electric car" theories...

 

[ld13]

I never said it was blamed for that. I did make a comment that says "Might even be the reason the US is falling appart"

I'm not saying it is, but it sure has some value

Some value, but not the cause of the current economic situation imo. It might cause the ultimate demise of the US economy though...sometime in the future.

But the fact that the dollar is a ticking time bomb is not even a thought no more. It's a true reality and the world is just waiting for it to happen.
And I think we'll see it happen in the next few days.

Indeed, ticking time bomb just waiting to go off - no doubt about it. I would not bet on a few days though. More like a few weeks/months maybe. But no one really knows when it'll happen. Hopefully it'll be sooner rather than later. The sooner the economy can 'get rid' of its dependency on the US economy, the better. Same goes for OPEC.

 

[Pitbull]

Some value, but not the cause of the current economic situation imo. It might cause the ultimate demise of the US economy though...sometime in the future.



Indeed, ticking time bomb just waiting to go off - no doubt about it. I would not bet on a few days though. More like a few weeks/months maybe. But no one really knows when it'll happen. Hopefully it'll be sooner rather than later. The sooner the economy can 'get rid' of its dependency on the US economy, the better. Same goes for OPEC.

Now here I agree with you 110 %

 

[sabagamma]

And 10 to 1 we could expect these ant-West indoctrinates to revel in anything negative about the USA.
Been pumped up in the Friday cessions again?

Here you'll find loads more anti-USA sentiment on a so called religious web site.

Your thinking is so backward. Anything critical of the USA must come from Muslims, anything critical of Israel must come from anti-semites.

Why can you not discuss something without bring religion into it? Are you so twisted and narrow minded that you cannot have an open debate without smearing someone? [Edited out]

 

[JK8]

And 10 to 1 we could expect these ant-West indoctrinates to revel in anything negative about the USA.
Been pumped up in the Friday cessions again?

Here you'll find loads more anti-USA sentiment on a so called religious web site.

WTF you editted your post 40 minutes later... rather shrewd, thrifty of you, guess its in your blood.

 

[Frankie]

Your thinking is so backward. Anything critical of the USA must come from Muslims, anything critical of Israel must come from anti-semites.

Why can you not discuss something without bring religion into it? Are you so twisted and narrow minded that you cannot have an open debate without smearing someone?

So now you resort to ad hominens

http://mybroadband.co.za/vb/showpost.php?p=2163363&postcount=19

 

[Frankie]

WTF you editted your post 40 minutes later... rather shrewd, thrifty of you, guess its in your blood.

So, is editing posts against the rules, or does it bug you that I may have exposed one of your information sources?

 

[JK8]

So, is editing posts against the rules, or does it bug you that I may have exposed one of your information sources?

Well changing posts 40 min later should be against the rules.
So im viewinng the link you posted now for the first time... never been there before I dont get info from there either.