Fighting to save the Dollar is Iran next Pt 2
Policymakers realized that the Middle East was “a stupendous source of strategic power, and one of the greatest material prizes in world history.
I was born the year President Nixon took office 1969 and that’s when it all began, around or on August 15, 1971, when it ended. Nixon closed the gold window and refused to pay out any of our remaining 280 million ounces of gold. In essence, we declared our insolvency and everyone recognized some other monetary system had to be devised in order to bring stability to the markets.
A new system was devised which allowed the U.S. to operate the printing presses for the world reserve currency with no restraints placed on it– not even a pretense of gold convertibility, none whatsoever! Though the new policy was even more deeply flawed, it nevertheless opened the door for dollar “fraud”to spread.
Further manipulating the “New” system. U.S. authorities, struck an agreement with OPEC to price oil in U.S. dollars exclusively for all worldwide transactions. This gave the dollar a special place among world currencies and in essence “backed” the dollar with oil. In return, the U.S. promised to protect the various oil-rich kingdoms in the Persian Gulf against threat of invasion or domestic coup.
This arrangement helped ignite the radical Islamic movement among those who resented our influence in the region. The arrangement gave the dollar artificial strength, with tremendous financial benefits for the United States. It allowed us to export our monetary inflation by buying oil and other goods at a great discount as dollar influence flourished.
America is not addicted to oil if she is it’s by choice, she could have resorted to other alternatives long ago ,the reason she is obssed with oil because it backs the dollar, therefore any countries that threatens that relationships such as Iraq and Iran will face painful and severe consequences.
Iran plans to switch from the petrodollar over to the euro on March 28, 2006 Which would grossly reduce the value of the dollar. Watch how the media intensify the threat Iran imposses on the US.
