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Tag Archives: petrodollar
Cracks in Dollar Are Getting Larger
Cracks in Dollar Are Getting Larger Many Daily Reckoning readers are familiar with the original petrodollar deal the U.S made with Saudi Arabia. It was set up by Henry Kissinger and Saudi princes in 1974 to prop up the U.S. dollar. At the time, confidence in the dollar was on shaky ground because President Nixon […]
Oil Analysts Baffled As Venezuela Ditches Petrodollar
Oil Analysts Baffled As Venezuela Ditches Petrodollar At the end of August, the U.S. stepped up sanctions on Venezuela, prohibiting dealings in new debt or equity issued by state oil firm Petroleos de Venezuela SA (PDVSA) or the government. A couple of weeks later Venezuela responded to what it called an “economic blockade” by suspending […]
The Demise Of The Dollar As We Know It: “A Break Is Coming… On A Worldwide Basis”
The Demise Of The Dollar As We Know It: “A Break Is Coming… On A Worldwide Basis” The significance of the shift taking place on a geo-political basis to unseat the U.S. dollar as the world’s reserve currency cannot be understated. It is, by all means, a complete upending of the financial and economic systems […]
Petrodollar Under Attack
Petrodollar Under Attack (ANTIMEDIA Op-ed) — Once upon a time, the U.S. dollar was backed by the gold standard in a framework that established what was known as the Bretton-Woods agreement, made in 1944. The dollar was fixed to gold at a price of $35 an ounce, though the dollar could earn interest, marking one notable difference from gold. We’re […]
Venezuela Begins Publishing Oil Basket Price In Yuan
Venezuela Begins Publishing Oil Basket Price In Yuan Two days after the WSJ confirmed Maduro’s earlier threat that he would stop accepting US Dollars as payment for crude oil imports, Venezuela has done just that. As a reminder, and as we reported previously, in an effort to circumvent U.S. sanctions, Venezuela told oil traders that […]
America’s Weapons: “The Dollar and the Drone”
America’s Weapons: “The Dollar and the Drone” It was said that “the guinea and the gallows” were the true instruments of British imperial power. The guinea represented the coined wealth of Great Britain. The gallows represented its… constabulary zeal in policing restless natives. This is the 21st century of course… a time of enlightenment. Today’s […]
Venezuela Has Officially Abandoned The Petrodollar – Does This Make War With Venezuela More Likely?
Venezuela Has Officially Abandoned The Petrodollar – Does This Make War With Venezuela More Likely? Venezuela is the 11th largest oil producing country in the entire world, and it has just announced that it is going to stop using the petrodollar. Most Americans don’t even know what the petrodollar is, but for those of you […]
Venezuela Is About to Ditch the Dollar in Major Blow to US: Here’s Why It Matters
Venezuela Is About to Ditch the Dollar in Major Blow to US: Here’s Why It Matters (ANTIMEDIA) — Venezuelan President Nicolas Maduro said Thursday that Venezuela will be looking to “free” itself from the U.S. dollar next week, Reuters reports. According to the outlet, Maduro will look to use the weakest of two official foreign exchange regimes (essentially the way […]
Donald Trump, Saudi Arabia, and the Petrodollar
Donald Trump, Saudi Arabia, and the Petrodollar Obama pulled out his veto pen 12 times during his presidency. Congress only overrode him once… In late 2016, Obama vetoed the Justice Against Sponsors of Terrorism Act (JASTA). The bill would allow 9/11 victims to sue Saudi Arabia in US courts. With only months left in […]
Trump Left Saudi Arabia Off His Immigration Ban… Here’s the Shocking Reason Why
Trump Left Saudi Arabia Off His Immigration Ban… Here’s the Shocking Reason Why On August 15, 1971, President Nixon killed the last remnants of the gold standard. It was one of the most significant events in US history—on par with the 1929 stock market crash, JFK’s assassination, or the 9/11 attacks. Yet most people know […]
Grant Williams: The Death Of The Petrodollar, And What Comes After
Grant Williams: The Death Of The Petrodollar, And What Comes After In December, Grant Williams, author of “Things That Make You Go Hmm…” offered the most comprehensive analysis yet of the rise and inevitable fall of the petrodollar (and implicitly US hegemony). In the following presentation, from Mines & Money Conference in London in December 2016, Williams […]
Things That Make You Go Hmm… Like The Death Of The Petrodollar, And What Comes After
Things That Make You Go Hmm… Like The Death Of The Petrodollar, And What Comes After Excerpted from “Get It. Got It. Good” by Grant Williams, author of “Things That Make You Go Hmm…” The story begins in the 1970s when Henry Kissinger and Richard Nixon struck a deal with the House of Saud — […]
One More Casualty Of The 9/11 Farce – The Petrodollar
One More Casualty Of The 9/11 Farce – The Petrodollar It’s been about 15 years now since passenger airliners struck the World Trade Center towers on 9/11, and we are still suffering the consequences of that day, though perhaps not in the ways many Americans might believe. The 9/11 attacks were billed by the Bush […]
Recycling Societies for Power and Profit
Recycling Societies for Power and Profit The Cruel Fate of the Pawns of Empire A curious diplomatic spectacle is playing out, as the imperial senate tussles over how hot to make it for the Saudis, and how close to hold the vassal sheikhs’ feet to the fire. Once again we are shown how weak and […]
