Recently my little cousin asked me to explain why was USA against Saddam. This, i explained would be unfeasible to explain in one go. So I plan to begin gathering my answers and hence i write what i have read/assimilated/heard...
Back in 1971, the US of A printed far more paper money than it could back with Gold.
A few years later, the French demanded redemption of its paper-dollar holdings in gold. Soon to be rejected the America, as it actually didn’t have enough gold for the dollar it had already printed out and spent all over the workld, ths committing an act of bankruptcy.
So, the US goes to the Saudis and cut a deal, OPEn dominate all sales ofcrude oil in US$ ( the cartel took actions to offset the devaluation of the U.S. dollar, not by switching to another currency but by setting the price of crude.)
From that point every nation that needed to buy oil had to first hold US$, which meant they first exchanged their goods and services for US$, which America had just printed.
Now, the US bought the oil literally for free by printing those dollars, the ultimate free lunch for the americans at the expense of the world
However, the scam began to unravel when Saddam Hussain began to sell Iraq’s oil in Europe directly for Euro, hence abrogating the cozy arrangements the Americans had with the OPEC, hence he had to be stoped.
US concocted up a pretext to wage war, invade Iraq an the first thing they did was to revert the oil sales back to Dollar. Averting the currency crisis for the moment.
Now, Hugo Chevez, the Presidnt of Venezuela, also started selling Venezuelan oil for currencies other than dollar, so there were a number of attemts on his life and regime change, traceable right back to the CIA.
The Iran president, Ahmedinejad, decided to kick the great satan and sell oild for every currency EXCEPT dollars.
The cat was out of the bag.
**Like all commodities whose derivatives are traded through NYMEX and CBOT, contracts are written and settled in dollar terms.
**At one point, the U.S. was the world's leading producer and leading consumer of crude oil, so it would make sense that where oil is pumped, refined, distilled, traded and sold, it would adapt the local currency.
** more to some
January 31, 2011
January 09, 2011
Some questions...unanswered
Why doesn't Tarzan have a beard?
Why do we press harder on a remote control when we know the batteries are flat?
Why do banks charge a fee on "insufficient funds" when they know there is not enough?
Why do Kamikaze pilots wear helmets?
Why does someone believe you when you say there are four billion stars, but check when you say the paint is wet?
Whose idea was it to put an "S" in the word "lisp"?
What is the speed of darkness?
Why is it that people say they "slept like a baby" when babies wake up every two hours?
Are there especially reserved parking spaces for "normal" people at the Special Olympics?
If the temperature is zero outside today and it's going to be twice as cold tomorrow, how cold will it be?
How is it that we put man on the moon before we figured out it would be a good idea to put wheels on luggage?
Why do people pay to go up tall buildings and then put money in binoculars to look at things on the ground?
Who was the first person to look at a cow and say, "I think I'll squeeze these pink dangly things here and drink whatever comes out?"
Who was the first person to say, "See that chicken there... I'm gonna eat the next thing that comes outta its bum."
Why do toasters always have a setting so high that could burn the toast to a horrible crisp, which no decent human being would eat?
Why is there a light in the fridge and not in the freezer?
Why do people point to their wrist when asking for the time, but don't point to their bum when they ask where the bathroom is?
If corn oil is made from corn, and vegetable oil is made from vegetables, then what is baby oil made from?
If electricity comes from electrons, does morality come from morons?
Why do the Alphabet song and Twinkle, Twinkle Little Star have the same tune?
Stop singing and read on.......
Did you ever notice that when you blow in a dog's face, he gets mad at you, but when you take him on a car ride, he sticks his head out the window?
Does pushing the elevator button more than once make it arrive faster?
...More to come
Why do we press harder on a remote control when we know the batteries are flat?
Why do banks charge a fee on "insufficient funds" when they know there is not enough?
Why do Kamikaze pilots wear helmets?
Why does someone believe you when you say there are four billion stars, but check when you say the paint is wet?
Whose idea was it to put an "S" in the word "lisp"?
What is the speed of darkness?
Why is it that people say they "slept like a baby" when babies wake up every two hours?
Are there especially reserved parking spaces for "normal" people at the Special Olympics?
If the temperature is zero outside today and it's going to be twice as cold tomorrow, how cold will it be?
How is it that we put man on the moon before we figured out it would be a good idea to put wheels on luggage?
Why do people pay to go up tall buildings and then put money in binoculars to look at things on the ground?
Who was the first person to look at a cow and say, "I think I'll squeeze these pink dangly things here and drink whatever comes out?"
Who was the first person to say, "See that chicken there... I'm gonna eat the next thing that comes outta its bum."
Why do toasters always have a setting so high that could burn the toast to a horrible crisp, which no decent human being would eat?
Why is there a light in the fridge and not in the freezer?
Why do people point to their wrist when asking for the time, but don't point to their bum when they ask where the bathroom is?
If corn oil is made from corn, and vegetable oil is made from vegetables, then what is baby oil made from?
If electricity comes from electrons, does morality come from morons?
Why do the Alphabet song and Twinkle, Twinkle Little Star have the same tune?
Stop singing and read on.......
Did you ever notice that when you blow in a dog's face, he gets mad at you, but when you take him on a car ride, he sticks his head out the window?
Does pushing the elevator button more than once make it arrive faster?
...More to come
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