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Petrodollar system?…if you knew about a little bit more,we are fighting just one war now days and it is in Afghanistan…name all those oil companies than you can find in Afghanistan…do your research before you start writing about it…
Before we go any further, I have a few serious questions for you:
Did you serve? If so, where; Iraq, Afghanistan, both or other?
Do you know what a petrodollar is? Source
Do you know what the World’s Reserve Currency is? Source 1 2
Do you know what a fiat currency is? Source 1 2
Do you know what the Federal Reserve is? Source
Do you know how the Federal Reserve profits from printing US “dollars”? Source 1 2
Do you know how the Federal Reserve profits from other nations having to exchange their money into dollars and pay a fee on that exchange in order to partake in trade for goods, like Oil? Source
Did you know America had plans to invade Iraq as early as 1999? Source 1 2
Did you know Iraq tried to leave the “dollar standard” for oil transactions and sell in Euros? Source
Did you know that we still have American bodies in Iraq? The “war”, which was undeclared, may technically be over, but America is still spending money to patrol Iraq. Source
Did you know that we don’t really plan on leaving Afghanistan anytime soon? Source
Did you know that Afghanistan has trillions of dollars in natural resources? Source
Do you know what the Trans-Afghanistan Pipeline is? Source
Do you know that since America took over Afghanistan, their opium production has sky rocketed? Source
Do you know what countries have serious issues with opium? Russia, China and Iran. Guess which countries are dead locked in proxy wars and economic wars over resources like oil, reserve currency and gold with the United States? China, Russia, Iran. (Proxy War Source 1 2 3) (Opium Source 1 2 3)
Do you know Iran has started to sieze selling oil in “dollars” and is now selling oil in exchange for gold? Source
Do you know that Libya tried to do the same thing as Iran and move to a gold standard right before America backed al Qaeda with weapons and money to over throw that government? Source
Do you know that America is backing the same terrorists in Syria that we fought in Afghanistan and Iraq? Source
Do you know that Russia is backing the opposing forces because Syria is the only port-country that is allied with Russia? Source
Do you know that America is helping France with a “war” in Mali? Source
Do you know that China has been working very hard to peacefully obtain contracts and rights to the vast resources of Africa? Oil, gold, Uranium and more? Source 1 2
Do you know that Mali is loaded with natural resources? Source
So ask yourself, why is your government backing the same “terrorist” groups that they sent you into Iraq and Afghanistan to kill? Why is the gov’t using American troops to help overthrow governments and secure natural resources as well as banking power over other nations? Why are we risking the lives of Americans for the interests of banks and corporations? You think that Iran’s main threat to America and Israel is military? It’s not. It’s monetary.
All of these wars, they aren’t just. They aren’t for justice. They are for currency and resource domination. They are to ensure that American banks and corporations and the “dollar” remain in charge.
At first, this puzzle seems vast and complex, but once you “follow the money” and learn about such terms as Reserve Currency, Petrodollar and how the Federal Reserve and other central banks operate and use fiat currency and how there’s a policy in place to overthrow any government that opposes that system, you start to paint a picture of why we fight the wars that we fight.
Hopefully this was a good learning experience for you and perhaps next time you won’t accuse me of foreign policy ignorance when it’s actually you who is ignorant of our policies and systems.
- Sha
Have you ever read Confessions of an Economic Hitman?
Did it change your political beliefs? Did it flip your world view upside down and inside out?
I don’t think I agree.
If you think about the inter-connectivity of the Fed, the fiat dollar, the world’s reserve currency, the petrodollars and the wars we fight to maintain the hierarchy and value of the dollar, you realize that all of it is connected right back to how the dollar and it’s valuation is the foundation of our imperialism.
But I agree that as American citizens, we do, somewhat, benefit from the US Dollar.
While I do think our wars are imperialistic, I don’t think that they are used to maintain our position as the world’s reserve currency. The dollar being the world’s reserve currency really follows Bretton Woods and the second world war. The dollar stays strong because of the weakness of other currencies.
The dollar is still staying strong thanks to the failures of the Eurozone and the Euro as a currency.
That being said, we benefit greatly from having a vehicle currency. That keeps our country from being Greece with our near 100% Debt:GDP ratio.
But the dollar is used as the currency of trade for most all trade, including almost all oil transactions.
Just look at the history of which OPEC or Oil rich countries decided to stop selling oil in dollars and which countries we’ve invaded over the past 15 years.
Iraq - Euro, Libya - Gold/Rum, Iran - Gold (Currently selling to India and China in gold instead of dollars).
Then there’s America consistently trying to get involved in Africa because the Chinese have already moved in and are quickly making allies and raking in resources.
The real problem is that our dollar, like you said, is based on the strength of the country, both economic and military. This means that we must continuously flex our muscles and take over emergent markets to keep the dollar strong. If not, we just become another run of the mill, Western currency.
You don’t see this system as a problem?
I mean Bernanke isn’t the Keynesian that Krugman is.
If anything, I’d put him up there with Mankiw and honestly Mankiw isn’t as insufferable as Krugman is.
But yeah I mean Bernanke is just mainstream. It’d be wrong to say he’s as Keynesian as other popular economists are.
Bernanke is a typical consumption-and-debt based Keynesian. Borrow money, spend money, don’t save too much, manipulate rates to get desired results.
Krugman is borderline insane. Create bubbles to off-set previous bubbles? Economic impact of natural disasters is good? We need to prepare for an alien invasion that doesn’t exist in order to revive the economy?
Krugman probably drives around smashing windows and slashing tires just to try and raise the GDP. The dude’s a radical.
Bernanke is the first academic to be the head of the Fed in a long time. That alone is a plus.
Interest rate targeting is basically what you do with central banks anymore. You can’t target the money supply and inflation expectations can be held nearly constant so long as no one fucks up (oops QE2,3,4).
Yeah, Krugman is insane. He also gets paid by the NYTimes to spread his lunacy, which is worse.
Yea, I agree. I don’t think Bernanke is the evil tyrant of the world as so many libertarians see him as. He just does what his job is supposed to be, control rates and drive different financial actions via asset purchases and liquidity changes.
Now, the existence of the fed, that’s an issue for me. But as far as what Bernanke has done while at the helm, it’s no different than what any other knowledgeable Keynesian would do.
I mean, ending the Fed isn’t that high on my priority list as a libertarian. The world we live in right now means we need a Fed, and we certainly benefit greatly from having the US Dollar.
I don’t think I agree.
If you think about the inter-connectivity of the Fed, the fiat dollar, the world’s reserve currency, the petrodollars and the wars we fight to maintain the hierarchy and value of the dollar, you realize that all of it is connected right back to how the dollar and it’s valuation is the foundation of our imperialism.
But I agree that as American citizens, we do, somewhat, benefit from the US Dollar.
