Is the Collapse of the Petrodollar Imminent? Here’s How It Could Impact the World’s Reserve Currency

By Nick Giambruno

Petrodollar collapse

It’s been rightly said that “he who holds the gold makes the rules.”

After World War 2, the US had the largest gold reserves in the world, by far. Along with winning the war, this let the US reconstruct the global monetary system around the dollar.

The new system, created at the Bretton Woods Conference in 1944, tied the currencies of virtually every country in the world to the US dollar through a fixed exchange rate. It also tied the US dollar to gold at a fixed rate of $35 per ounce.

The dollar was said to be “as good as gold.”

The Bretton Woods system made the US dollar the world’s premier reserve currency. It compelled other countries to store dollars for international trade or to exchange them with the US government for gold at the promised price.

However, it was doomed to fail. Continue reading “Is the Collapse of the Petrodollar Imminent? Here’s How It Could Impact the World’s Reserve Currency”

Will the End of the Petrodollar End the US Empire?

Guest Post by Ron Paul

Future historians may say that the most significant event of 2023 had nothing to do with Donald Trump, other 2024 presidential candidates, or even the war in Ukraine. Instead, the event with the most long-term significance may be one that received little attention in the mainstream media — Saudi Arabia’s movement toward accepting currencies other than the US dollar for oil payments.

After President Nixon severed the last link between the dollar and gold, his administration negotiated a deal with the Saudi government. The US would support the Saudi regime, including by providing weapons. In exchange, the Saudis would conduct all oil transactions in dollars. The Saudis also agreed to use surplus dollars they accumulated to purchase US Treasury bonds. The resulting “petrodollar” is a major reason why the dollar has maintained its world reserve currency status.

Continue reading “Will the End of the Petrodollar End the US Empire?”

The Petrodollar – Another Fake News Invention?

Guest Post by Martin Armstrong

The entire theory of the Petrodollar dares back to the collapse of Bretton Woods and the subsequent oil embargo protesting US support for Israel and the price shock of raising prices. Those were the days when everyone was obsessed with gold and the whole idea of a floating currency that was popular to say will crash and burn for money had to be backed but some commodity. Those were indeed the days when that theory was very popular and it dominated the thinking process of the 1970s.

Continue reading “The Petrodollar – Another Fake News Invention?”

Oil for Gold (and Bitcoin)… the End of the Petrodollar

Via International Man

Petrodollar

The US government reaps an unfathomable amount of power from its racket of printing fake money out of thin air and forcing it on the world.

The petrodollar system is a big reason it has gotten away with this scam for so long.

In short, here’s how it works…

Oil is by far the largest and most strategic commodity market. For the last 50 years, virtually anyone who wanted to import oil needed US dollars to pay for it.

Continue reading “Oil for Gold (and Bitcoin)… the End of the Petrodollar”

Dogs of War: Fight to the Death

by Uncola via TheBurningPlatform.com

And Caesar’s spirit, ranging for revenge,

With Ate by his side come hot from hell,

Shall in these confines with a monarch’s voice

Cry ‘Havoc,’ and let slip the dogs of war;

Mark Antony, The Tragedy of Julius Caesar, III.i

Last week, on April Fool’s Day, I read how the month of March 2017 was a “turning point” for Hillary Clinton as she, once again, challenged Donald Trump on Twitter and made three public speeches where she encouraged her former foot soldiers to:  “Resist, persist, insist, enlist”.  Upon reading those words, I was reminded of the little girl in the movie “Poltergeist” who said:  “They’re baaack”.

Yes, they’re back like “Ate”, the Greek goddess of discord and vengeance.  Well, actually, in truth, they never really left.

In William Shakespeare’s “Julius Caesar”, the main character isn’t Caesar.  On the contrary, the story is mostly about everyone else.  If prose could be equated to cuisine, then “Julius Caesar”, although the Bard’s shortest play, was, nevertheless, a veritable feast; an exotic, psychological buffet of torn loyalties, political treachery, honor, patriotism, friendship, intrigue, tragedy, and revenge.

Continue reading “Dogs of War: Fight to the Death”

Ron Paul Says to Watch the Petrodollar

Ron Paul Says to Watch the Petrodollar

By Nick Giambruno

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

Ron Paul is calling for the end of the petrodollar system. This system is one of the main reasons the U.S. dollar is the world’s premier reserve currency.

Essentially, Paul is saying that understanding the petrodollar system and the forces affecting it is the best way to predict when the U.S. dollar will collapse.

Paul and I discussed this extensively at one of the Casey Research Summits. He told me he stands by his assessment.

Nick Giambruno and Ron Paul

This is critically important. When the dollar loses its coveted status as the world’s reserve currency, the window of opportunity for Americans to protect their wealth from the U.S. government will definitively shut.

At that point, the U.S. government will implement the same destructive measures other desperate governments have used throughout history: overt capital controls, wealth confiscation, people controls, price and wage controls, pension nationalizations, etc.

The dollar’s demise will wipe out the wealth of a lot of people. But it will also trigger political and social consequences likely to be far more damaging than the financial fallout.

The two key takeaways are:

Continue reading “Ron Paul Says to Watch the Petrodollar”

FOURTH TURNING – THE SHADOW OF CRISIS HAS NOT PASSED – PART FOUR

In Part One of this article I explained the model of generational theory as conveyed by Strauss and Howe in The Fourth Turning. In Part Two I provided an overwhelming avalanche of evidence this Crisis has only yet begun, with debt, civic decay and global disorder propelling the world towards the next more violent phase of this Crisis. In Part Three I addressed how the most likely clash on the horizon is between the government and the people. War on multiple fronts will thrust the world through the great gate of history towards an uncertain future.

War on Multiple Fronts

“The risk of catastrophe will be very high. The nation could erupt into insurrection or civil violence, crack up geographically, or succumb to authoritarian rule. If there is a war, it is likely to be one of maximum risk and effort – in other words, a total war. Every Fourth Turning has registered an upward ratchet in the technology of destruction, and in mankind’s willingness to use it.” – Strauss & Howe – The Fourth Turning

The drumbeats of war are pounding. Sanctions are implemented against any country that dares question American imperialism (Russia, Iran). Overthrow and ignominious imprisonment or death awaits any foreign leader questioning the petrodollar or standing in the way of America spreading democracy (Iraq, Libya, Syria, Ukraine, Egypt). The mega-media complex of six corporations peddle the government issued pabulum about ISIS being an existential threat to our freedoms; Russia being led by the new Hitler and poised to take over Europe; Syria gassing innocent women and children; and Iran only six months away from a nuclear bomb (they’ve been six months away for the last fourteen years). Hollywood does their part with patriotic drivel like American Sniper, designed to compel low IQ unemployed American youths to swell with pride and march down to enlistment centers, located in our plentiful urban ghettos.

The most disconcerting aspect of Fourth Turnings is they have always climaxed with total destructive all-out war. Not wars to enrich arms dealers like Iraq, Afghanistan, and Syria, but incomprehensibly violent, brutal, wars of annihilation. There are clear winners and losers at the conclusion of Fourth Turning wars. Leaders mobilize all forces, refuse to compromise, define their enemies in moral terms, demand sacrifice on the battlefield and home front, build the most destructive weapons imaginable, and employ those weapons to obtain victory at any cost.

It may seem inconceivable that war on such a scale will happen within the next ten years, but it was equally inconceivable in 1936 that 65 million people would die in the next ten years during World War II. We valued all the wrong things and made all the wrong choices leading up to this Crisis and during the early stages of this Crisis. The accumulation of unmet obligations, unpaid bills, un-kept promises and unresolved issues will provide the fuel for an upheaval that will shake our society to its core and transforms the country’s direction for the next sixty years. The outcome of the conflict could be tragedy or triumph. Our choices will make a difference.

There will be war on many fronts, and they have already begun. The culmination will likely be World War III, with the outcome highly uncertain and potentially disastrous.

Continue reading “FOURTH TURNING – THE SHADOW OF CRISIS HAS NOT PASSED – PART FOUR”