Youtor
The Petrodollar system and the US and Saudi Relations understanding Petrodollar
>> YOUR LINK HERE: ___ http://youtube.com/watch?v=gVbc6BSSzC4
The very basis of the US superpower status- The dollar as only world reserve currency is under threat. • The Colder War is a book by Canadian Author Marin Katusa—who is the Head of the energy division of investment advisory service Casey Research and this is a video describing some points of discussion. • What makes the US dollar unique is the fact that since the early 1970s it has been, with a few notable exceptions, the only currency used to buy and sell oil on the global market. This began in the 1970s when US President Nixon’s administration began negotiations with the government of Saudi Arabia to establish the petrodollar system. Under this system, the Saudis would only sell their oil in US dollars, and would invest the majority of their excess oil profits into U.S. banks and Capital markets. The IMF would then use this money to facilitate loans to oil importers who were having difficulties covering the increase in oil prices. The payments and interest on these loans would of course be denominated in US dollars. • Conspiracy Theorist out there have stated that the reason why countries such as Iraq, Libya, Syria, Iran and Russia are perceived enemies of the US and have had a military or an economic attack is to do with leaving the petro dollar system. • They state the real reason for singling out these countries is the petrodollar system described above which enables US to stay afloat despite being more than $19.8 trillion in debt as of end of 2016. The existence of petrodollars is one of the pillars of America’s economic might, because it allows the US to accumulate enormous debts without defaulting. • There is another twist here as well which is China, China is the leading member of the BRICS countries and is lining up the rest of the BRICS, the next eleven countries and that of the SCO Shanghai Cooperation Organisation and their currencies – to support Russia. • Currency swaps between Russia (ruble) and China (yuan) for an initial US$ 25 billion have already been implemented to allow direct transactions between the two countries. Similar swaps are under way between China and Russia with other countries including the soon to become new members – Iran, Pakistan, India, Afghanistan, Mongolia, Sri-Lanka etc – and possibly in some not too distant future strategically located NATO member Turkey. • The saying goes that every action has a reaction and in this regard President Trump has a lot on his hands is he is serious about making America great again #MAGA • #russia #coldwar #thecoldwar #colderwar #russian #russiaukrainewar #american #petrodollar #MBS #saudi #brics #shanghai #nato #ruble #yuan #currencywar #currency #swaps #currencyswaps #nato #turkey #libya #iraq #syria • Please leave comments and opinions below in the section below. • ________________________________________________________________________________________________ • A bit about Safaraz Ali, the video channel owner and Author of the Canny Bites Business Books. • Safaraz Ali is a social entrepreneur, having grown up in inner city Birmingham. He is a driven individual with a sense of duty to change lives and do the right thing. • Safaraz is the creator of the Canny Bites book series. His goal was to encourage life-long learning within the business community and create something accessible to everyone. Safaraz wanted the ‘Canny Bites’ to be a memorable, practical and adaptable way for busy business people to gain knowledge and advice they could really apply within their businesses and business owners have found his ‘bites’ genuine and refreshing. • Canny Conversations Podcasts by Safaraz Ali, where he shares his insights and experiences on entrepreneurialism, having a growth mindset and getting the best out of people. • Safaraz Ali is often called upon by media and local influencers to appear on podcasts, radio and local TV shows as well as to write articles on topics ranging from leadership, people, entrepreneurship as well as anything relating to the diversity and equity of opportunity. • Thank you for supporting. • Safaraz Ali • www.safaraz.co.uk
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