End of an Era: The Rise and Fall of the Petrodollar System

Well researched; thank you; in peace

sentinelblog

From Acting Man, by Claudio Grass

The Transition

“The chaos that one day will ensue from our 35-year experiment with worldwide fiat money will require a return to money of real value. We will know that day is approaching when oil-producing countries demand gold, or its equivalent, for their oil rather than dollars or euros. The sooner the better.”

Ron Paul

oil pipeline to ghawarA new oil pipeline is built in the Saudi desert… this one is apparently destined for the Ghawar oil field, one of the oldest fields in Saudi Arabia and still the largest in the world

Photo credit: Saudi Aramco

The intricate relationship between energy markets and our global financial system, can be traced back to the emergence of the petrodollar system in the 1970s, which was mainly driven by the rise of the United States as an economic and political superpower.

For almost twenty years, the U.S. was…

View original post 1,907 more words

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