posted on Oct, 15 2012 @ 02:15 AM
What is preventing Saudi Arabia from selling their oil for the Yuan?
I read all the links below and I have many more links for any of you who want to read more. Basically it plays out like this: Right around 1971
because of the costly Vietnam war, countries around the world got the idea that the U.S. is printing up more dollars than what they had backed up in
gold. Some of the countries that held dollars, wanted to redeem their dollars for gold. So in response, President Nixon announced to the world that he
was taking the dollar off the gold standard. He sent Henry Kissinger over to Saudi Arabia to talk to the king. He told the king that if he were to
sell his oil only for dollars, the U.S. would protect his oil fields and give him some nice new fighter jets. But I never did find anything on the web
about the actual contract, or if there was even a contract at all. What's actually making the Saudi's hold their promise is what I'd like to find
Just recently China worked out a deal with the U.A.E. to sell China oil for the Yuan in return. I presume that if Saudi Arabia were to start doing the
same thing, the dollar would collapse overnight. And when I say "collapse," I mean worth anywhere from 50% down to zero.
The web pages where these links were taken offer a PDF version as well. I went ahead and posted the links directly to the PDF's because they're
easier to read.
Part 1: ftmdaily.com...
Part 2: ftmdaily.com...
Part 3: ftmdaily.com...