Petrodollars, Realpolitik and War

Rinancial Sense ^ | 1/24/12 | Marin Katusa

[Yollopoliuhqui]

The short version of the story is that a 1970s deal cemented the US dollar as the only currency to buy and sell crude oil, and from that monopoly on the all-important oil trade the US dollar slowly but surely became the reserve currency for global trades in most commodities and goods. Massive demand for US dollars ensued, pushing the dollar's value up, up, and away. In addition, countries stored their excess US dollars savings in US Treasuries, giving the US government a vast pool of credit from which to draw.

[Yollopoliuhqui]

People, we gotta wake up to the machinations of big oil and their ties to the global financier monopoly. Conservatives need to get back to their John Birch Society roots and discover why Americans need to wage war upon the neo aristocracy and their financial empire. We have the Internet now, ignorance is no excuse. Do your homework or remain lobotomized at your peril.

[SunkenCiv]

Thanks Yollopoliuhqui.

• One Group's Strategy to Derail Oil Pipelines - (Rockefeller Brothers Fund)
• China, Canada reach deals on oil, uranium and air travel
• Fantastic. China, Canada reach quick deals on oil, uranium (While Keystone XL is shelved)
• Canada PM vows to ensure key oil pipeline is built
• BLM proposes scaling back oil shale, tar sands development
• BLM issues draft programmatic EIS for western oil shale, tar sands
• Rising Oil Production in Alberta: More Evidence Disproving Hubbert's Peak
• U.S. to Be Free from Foreign Oil by 2030: BP (Video)
• Oil and Gas Boom Lifts U.S. Economy
• U.S. Oil Fields Stage "Great Revival," But No Easing Gas Prices
• Iranian Lawmakers Call For Embargo On Oil Sales To EU

[SunkenCiv]

Oh yeah...

• Sierra Club faces gas-cash fallout
• Industrial Sabotage: Rockefeller Fund's $28 Million Campaign Against Keystone Pipeline
• Industrial Sabotage: Rockefeller Fund's $28 Million Campaign Against Keystone Pipeline
• House panel approves Keystone pipeline bill (would reverse Hussein's rejection)
• Mitt Romney mixes up Solyndra and Keystone pipeline
• Keystone could be part of Senate highway debate: Thune (Good Move! Force Obama and Reid's hand)
• Poe Acts to Approve Keystone XL Pipeline
• Keystone Calamity
• Canadian PM courts China after Obama's Keystone Pipeline Rejection
• Huge Plunge In Petroleum and Gasoline Usage
• Why Is Gasoline Consumption Tanking?
• Guest Post: Why Is Gasoline Consumption Tanking?

[hinckley buzzard]

Hate to tell you but my conservative roots have nothing to do with the John Birch society.

What you call "big oil" is an open market, basically transparent if you know what to look for. "Machinations" are the free market in action. There are conspiracies afoot, but this is not one of them.