-US makes a deal with Saudi Arabia, the largest Oil producer to price their Oil only in US Dollar. (In return US protects the Saudi regime)
Reduced to quoting myself
… I’m really interested in this part, although the article I linked to mention this, I’d love to have a confirmation of this. (Outside of left wing media)
I’m aware that I have used the term US throughout the article, however has we have learned from the brilliant article here. The line between nations and corporations is getting more and more blurred.
Does anyone know how much crude oil is traded yearly? (in billions, trillions?)
An interesting side note I neglected to point out earlier is that China holds around $800 billion in US Dollar reserve. The implication of this is phenomenal. No?
I believe that understanding currencies is key to understanding the middle East situation, (the world, NWO) however it is seldom discussed in the mainstream.
Chavez is seriously toying with this US currency dominance , does anyone have any opinion on this perspective?
US currency dominance is an integral part of the NWO's goals. (Although I suspect the Euro (the other international “reserve currency” is also largely NWO-controlled, just different fractions.)
EDIT:
My post deals mostly with the history of the Oil Standard. I’ve just noticed that a lot of the points I wished to address are already discussed here.
So maybe we can keep this thread to discuss the history of the US Dollar Dominance and see if such a system is indeed in place. (while maintaining the NWO angle) The repercussions of the Oil Standard are already discussed at the link above.
I welcome any discussion regarding and would like a more detailed timeline to come out of it. For instance the creation of the Euro should be mentioned.
[edit on 19/3/06 by ConspiracyNut23]


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