$200 Dollar a Barrel Oil Is Bilderberg Plan To Destroy Middle Class

Originally posted by BitRaiser
Since the Dollar remains the standard oil currency, higher oil prices should boost it. If oil costs more, it will force countries to hold more dollars in reserve in order to continue to trade for the same amounts of oil.

If the dollar falls in value against other countries currencies, then they would just be able to buy more dollars. It's the people buying the dollars to be able to buy Oil that keeps the dollar as high as it is. Don't forget, dollars are just created when needed. It's not as if it's actually backed by anything.

The price of Oil won't keep the dollar afloat, it's the amount of people using it.

Even now, with the dollar in wide use for Oil purchases, it doesn't stop the dollar tanking against other currencies. If more Oil producers switch away from the dollar, due to its depreciation in value, then it would slide into oblivion.

At $200 dollars a barrel, the dollar must have taken a beating. As stated, even though it might cost the US $200 a barrel, it would cost other countries, such as those in the EU less, as the value of the dollar continues to fall.

reply to post by stumason


We're on the same page.
I was just pointing out how the high price of oil will/is slowing the slide.
There is a great many people who don't understand the "Magic check book" nature of the dollar.

If oil shot up that high it would be the best thing that could happen in the world right now. The global capitalist house of cards would fall and the centralization of power would halt and people would begin to take control of their lives and communities.

Their greed for money and power will ultimately be their undoing.

reply to post by milesp


Completely un-true (unfortunately).
The elite would be the last effected.

The first thing that will happen is the poor will become poorer due to high inflation making food and housing more expensive.

Next, the middle class will decline as they suffer the higher costs of transportation and inflation.

Meanwhile, the rich will get more rich selling their products at a higher price.

Eventually there will be a market collapse or revolution, but only after the people have suffered greatly. Even then, the elite are the most protected because they've gone to great lengths to impose huge amounts of legislation that makes them unaccountable.

With virtually nothing backing the US dollar for quite a while now it's only a matter of time before the bear @#&% in the buckwheat.

Will Saudi Arabia follow Kuwait?

Fears of dollar collapse as Saudis take fright

Saudi Arabia has refused to cut interest rates in lockstep with the US Federal Reserve for the first time, signalling that the oil-rich Gulf kingdom is preparing to break the dollar currency peg in a move that risks setting off a stampede out of the dollar across the Middle East. Link

It was speculated back in May, when Kuwait de-pegged from the Dollar over inflationary concerns...that other Gulf producers might follow. The implications of this news for the Dollar, and the US bond market are not positive.