In the mid-1970s, coming out of the Arab oil embargo, Saudi Arabia became a major player on the world scene. American corporatocracy leaders and foreign policy experts realized that another embargo couldn't be allowed to happen. So a plan was put in place to partner with the Saudis. Saudi Arabia was awash in cash, so Washington began negotiating with its leaders to provide technical support, military hardware and training and an opportunity to bring its infrastructure into the 20th Century in exchange for petrodollars and assurances there would never be another embargo. When completed, the deal came down to this: Saudi Arabia would use petrodollars to purchase U.S. government securities; in turn, the interest earned on these securities would be spent by the Treasury Department in ways that bring Saudi Arabia out of its medieval existence and into the modern world.
Today, the U.S. uses more oil than Germany, Russia, Canada, Japan and India combined at over 19 million barrels a day. And Saudi Arabia is our biggest outside oil supplier.
Here are the others in the top 10 oil producers in the world:
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Two more countries, Syria and Venezuela, used to be on this list until physical warfare and economic warfare took them down. Even under the despised Hugo Chavez, as recently as six years ago, Venezuela was selling the U.S. 6 percent of its imported oil. Syria used to sell the U.S. more than 15,000 barrels a day. Except for Brazil and Canada, all of the countries above are mired in the struggle over oil and currency. To any sane observer, the current world economy should appear as a confidence game holding many contradictions and deceptions.
Syria and Oil
President Donald Trump — who differs remarkably from campaigner Donald Trump — tweeted that it was time to get out of Syria. Seemingly moments later, a "chemical attack" in Syria killed some children. After a lot of tough talk in the press between Russian and U.S. officials about bombs and retaliation, "Within days, after what clearly was some careful secret orchestration between U.S. and Russian military to avoid any Russian deaths, the Americans, with some token participation by the British and French, loosed a barrage of missiles on what they said were Syrian government chemical weapon research and storage facilities (mainly empty buildings, apparently)." -- Martin Spring
Meanwhile, as my colleague Brandon Smith points out, "There is no basis for the latest missile attacks on the regime. This same exact false flag tactic was attempted under the Obama administration to draw the U.S. people into open war in Syria, and it failed. Now the chemical weapon card is being played again, this time with a 'conservative' president. The establishment must be hoping that Republicans will find excitement in becoming the war party so long after the Bush years."
Indeed they do. Nothing gets President Trump more accolades from the GOP establishment than dropping bombs and fomenting wars and regime change because it's part of its DNA. The War Party and their neocon warmongers and their mouthpieces in the media would like you to believe that they endorse President Trump getting us out of Syria soon. Not true, points out Republicstandard.com: The neocons very much want the U.S. in Syria — and anywhere else there's oil to be conquered.
Because the real reason the U.S. is in the Middle East is to defend the petrodollar, and block Russia/Iran/China from creating their own petro-currencies. Russia needs markets for its oil. As Jennifer Grossman of the Atlas Society points out, "A staggering 70 percent of Russian exports are comprised of oil and gas. Over half of Russia's federal budget revenue comes from the country's oil-and-gas sector — which in turn finances Putin's ongoing military aggressions, including in Syria and Ukraine." Therefore we have a permanent war for oil and the pipelines that supply it. Do you believe that our ongoing wars in Iraq, Afghanistan and Syria mean our oil supply is sitting on a powder keg?
No, it's sitting in the hands of the elites who love to make war — fomented by presidents both Democrat and Republican who are recruited to further it — and collect assets like so many chips on a table:
- There's a reason the U.S. occupies the 30 percent of Syria that has most of its oil, water and gas.
- There's a reason Syria, Russia, France and China blocked access to Syrian oil back in 2003 when the U.S. invaded Iraq.
- Regime change was planned against Syria, Iraq, Libya, Lebanon, Somalia, Sudan and Iran 20 years ago, and attacking Syria weakens its close allies Iran and Russia... and indirectly China.
- Moammar Gadhafi had to be overthrown not because he was a dictator, but because he planned to quit selling oil in U.S. dollars.
To the proponents of the New World Order, if the U.S. pulls out of Syria, as has been suggested that Trump wishes to do, all that oil and the pipeline routes for it will effectively go to Russia and Iran. Therefore they want to control any oil supply and any pipeline from the Middle East to the EU, and will not hesitate to use its military wing, NATO, stop any plans to the contrary. Republicstandard.com put it succinctly: "If NATO has to smash Muslim heads together to make [a] pipeline feasible, they will do whatever it takes to push in the direction of conquest. This is not about the squabbles between parochial Islamic political and sectarian divides. This is about the Cold War. It never ended. The New Great Game is no longer simply against Russia, it's against Iran and China. Out of this melee the one country in the middle-east which will always side with the U.S. and NATO, is Saudi Arabia; the No. 1 oil exporter in the world and the lynchpin of the entire petrodollar system. The only person who can stop this pipeline is Putin, but for this he needs to uphold Assad."Conversely, for the petrodollar to survive, Assad needs to be taken down. If Assad survives, it will be the beginning of the end for the petrodollar and the beginning of something else. Remember, there are also banksters in the pseudo-capitalist totalitarian countries of Russia and China.
Oil and the dollar
This is to say in no uncertain terms that there awaits a great crash only needing a trigger. In 2012, Iran began taking renminbi laundered through Russian banks in exchange for oil.Then in 2015, Russia began selling oil to China in renminbi directly. And all the while these countries began to become net sellers of U.S. Treasuries.
Now the Chinese are building up their own commodities markets and as leading producers and consumers of gold, they've created a Shanghai gold exchange. This effort continues as the renminbi gains more and global acceptance. Venezuela, Germany, Austria and the Netherlands have already repatriated most if not all of their gold held by the Federal Reserve or other western central banks in recent years. Last week, Turkey announced that it decided to repatriate all its gold stored with The Fed as well, in a move to help hasten the fall of the petrodollar. Turkey profits no matter who builds an oil pipeline to the EU, and it seems they are hedging their bets and trying to avoid having any U.S.-denominated assets in case of attempted sanctions by the U.S.
Those who put their trust and their savings in the system and U.S. dollar assets do not suspect how the facade of safety is manipulated and inflated until it collapses. How many Enrons are there sitting on top of your assets? The end of the petrodollar will be a major disruption to the U.S. economy. The best way to protect yourself is to make sure you are holding gold and silver. Gold prices have been manipulated for decades by the Western banks. As this old model collapses, gold prices will have to rise to their unrestricted levels.
Yours for the truth,
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