Friday, September 19, 2014

Jester Late Thursday Night Chat: "The Rise and Fall of the Petrodollar"

Jester Late Thursday Night Chat: "The Rise and Fall of the Petrodollar"

09/19/2014
Jester's Place: 

[Jester] HI YA GUYS... SORRY SO LATE... WAS CONSULTING WITH A GUY ABOUT SOME REAL ESTATE INFO... TOOK A WHILE...

[Jester] I AM WATCHING A 4 PART SERIES BY JERRY ROBINSON THAT IS PRETTY WELL DONE ON THE RISE AND FALL OF THE PETRODOLLAR....

LET ME DROP THE SYNOPSIS REAL QUICK AND THEN YOU GUYS CAN DECIDE IF YOU LIKE TO INVESTIGATE THE HISTORY LESSON AND SEE IF YOU AGREE WITH HIS FUTURE PREDICTIONS IF YOU LIKE TO....

[Jester] A Brief Overview
of this Article Series on the Petrodollar System

[Jester] In the final days of World War II, 44 leaders from all of the Allied nations met in Bretton Woods, New Hampshire in an effort to create a new global economic order. With much of the global economy decimated by the war, the United States emerged as the world's new economic leader.
....
The relatively young and economically nimble U.S. served as a refreshing replacement to the globe's former hegemon: a debt-ridden and war-torn Great Britain.


[Jester] In addition to introducing a number of global financial agencies, the historic meeting also created an international gold-backed monetary standard which relied heavily upon the U.S. Dollar.

[Jester] Initially, this dollar system worked well. However, by the 1960's, the weight of the system upon the United States became unbearable.

On August 15, 1971, President Richard M. Nixon shocked the global economy when he officially ended the international convertibility from U.S. dollars into gold, thereby bringing an official end to the Bretton Woods arrangement.

[Jester] Two years later, in an effort to maintain global demand for U.S. dollars, another system was created called the petrodollar system. In 1973, a deal was struck between Saudi Arabia and the United States in which every barrel of oil purchased from the Saudis would be denominated in U.S. dollars.

Under this new arrangement, any country that sought to purchase oil from Saudi Arabia would be required to first exchange their own national currency for U.S. dollars. In exchange for Saudi Arabia's willingness to denominate their oil sales exclusively in U.S. dollars, the United States offered weapons and protection of their oil fields from neighboring nations, including Israel.

[Jester] By 1975, all of the OPEC nations had agreed to price their own oil supplies exclusively in U.S. dollars in exchange for weapons and military protection.

[Jester] This petrodollar system, or more simply known as an "oil for dollars" system, created an immediate artificial demand for U.S. dollars around the globe. And of course, as global oil demand increased, so did the demand for U.S. dollars.

[Jester] This petrodollar system, or more simply known as an "oil for dollars" system, created an immediate artificial demand for U.S. dollars around the globe. And of course, as global oil demand increased, so did the demand for U.S. dollars.

[Jester] As the U.S. dollar continued to lose purchasing power, several oil-producing countries began to question the wisdom of accepting increasingly worthless paper currency for their oil supplies. Today, several countries have attempted to move away, or already have moved away, from the petrodollar system.

 Examples include Iran, Syria, Venezuela, and North Korea… or the “axis of evil,” if you prefer. (What is happening in our world today makes a whole lot of sense if you simply read between the lines and ignore the “official” reasons that are given in the mainstream media.) Additionally, other nations are choosing to use their own currencies for oil like China, Russia, India, among others.

[Jester] As more countries continue to move away from the petrodollar system which uses the U.S. dollar as payment for oil, we expect massive inflationary pressures to strike the U.S. economy. In this article, we will explain how this could be possible.

[Jester] THAT IS THE CLIFF NOTES... BUT THAT IS PRETTY MUCH IT IN A NUTSHELL FOR PEOPLE THAT HAVE NO IDEA WHAT A PETRODOLLAR IS...

[Jester] THE FULL ARTICLE IS RATHER LENGTHY AND TECHNICAL BUT I FOUND IT WELL WORTH THE READ..
.
[Jester] HERE IS PART 1 OF 4... WHEN YOU GET TO THE BOTTOM THERE IS A LINK FOR PART 2 AND SO ON...    http://ftmdaily.com/preparing-for-the-collapse-of-the-petrodollar-system/

[Jester] SO WHEN WE ARE IN HERE TALKING ABOUT HOW CHINA AND RUSSIA ARE DOING THIS AND THAT WITH CURRENCY YOU SHOULD NOW BE ABLE TO SEE THE ROUGH SPOT WE ARE IN...

[wisewarrior] yup

[lulu] Jester so to push all this to the back burner us and company would rather have war?

[MotoXR] jester that explains the hostility between the US vs Iran and Syria ect...

[Hannah] Jester Thank you. I learned today's tidbit. I didn't know that we exchanged weapons and protection for the exclusivity.

[Jester] lulu WELL... THAT IS A DISTRACTION THAT KEEPS THINGS MOVING ON THE ORIGINAL WAR MONGERING GAME PLAN...

[Jester] WE HAVE A LOT OF GOOD PEOPLE OUT THERE TRYING TO GET THE EYES OPEN... THE PROBLEM IS THEY ARE COMPARTMENTALIZED AND NOT ORGANIZED TOGETHER TO POOL THEIR EFFORT AND REALLY GET THE WORD OUT... THAT IS THE PROBLEM RIGHT NOW...
[Jester] AND MOST OF THEM ARE DOING IT FOR THE MONEY... SO THERE YA GO...

[Jester] YOU GUYS TAKE IT EASY... I WILL TRY TO GET HERE EARLIER TOMORROW...

[Jester] NIGHT NIGHT...

http://www.dinarrecaps.com/our-blog/jester-late-thursday-night-chat-the-rise-and-fall-of-the-petrodollar

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