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PETRODOLLAR SCAM

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HOW THE USA FLEECED THE WORLD

I wrote this exposť back in May 2008 after I had become aware of the scam that the USA had perpetrated on the world since around 1975. The article was published in many places and gathered so much interest that a few people actually used my article as a script for Youtube video clips. So here it is.

I truly believe that the American people do not realise the real reason for the Iraq war and the current war threat against Iran. It's not the nukes, it's not the terrorism and it's not the oil. It's all about the protection and propping up of the greatest con-job in recent history, the US Petrodollar Scam.

Back in 1971, the USA printed and spent far more paper money than it could cover by gold. When the French demanded redemption of its dollar holdings in gold, the USA discovered that it could not honour the debt, thus committing an act of bankruptcy. So the USA went to the Saudis and cut a deal - we'll keep you in power, no matter what you do, as long as OPEC denominates all sales of oil in US dollars. The deal was done.

From that point, every nation that needed to buy oil had to firstly hold US dollars, which meant that they exchanged their goods and services for dollars, which the Americans just printed. The Americans bought their oil literally for free by printing those dollars and using inflation to reduce their value. The ultimate free lunch for the Americans at the expense of the rest of the world.

However, the scam began to unravel when Saddam Hussein started selling Iraq's oil directly for Euro, abrogating the cosy arrangement the Americans had with OPEC. Thus Saddam had to be stopped. How? He could not be persuaded, so the USA concocted up a pretext to wage war and invade Iraq and the first thing the Americans did was to revert sales of oil back to dollars. The currency crisis was averted for the moment.

But Hugo Chavez also started selling Venezuelan oil for currencies other than dollars, so there were a number of attempts on his life and "regime change", traceable right back to the CIA. The petrodollar cat was out of the bag.

Iran, watching all of this, decided to kick The Great Satan in the goolies and do the same thing - sell oil for every currency EXCEPT US dollars. All of a sudden, despite intrusive IAEA inspections and compliance with the NPT and the inalienable right to enrich uranium, Iran became the next big threat.

Sure, Iran was a threat to the USA, but not because of anything nuclear. What Iran was doing was compounding the economic destruction of the USA by becoming another member of the oil producers club that were bypassing NYMEX and IPE and selling oil for Euro, Yen and other currencies.

The problem for the USA is that those dollars fund not only the American lifestyle and the free lunch at the expense of the rest of the world, but they fund the US military, which is used to force the American will onto nations that threaten the USA economically, such as Iran.

So the shell game is coming to an end for the Americans. As the nations of the world find that they can buy oil for their own currencies instead of holding paper US dollars, more OPEC nations will abandon the dollar. The worst thing for the Americans is that eventually, they will also have to buy their oil with Euro or Roubles instead of just printing paper money to get it.

That will be the end of the American Empire, the end of funding for the US military and the destruction of the US economy. This is why Iran is so dangerous and has to be stopped. It's nothing to do with nukes, just as it was nothing to do with WMD in Iraq.

Actually the biggest WMD threat to the USA is the economic weapon. The great scam is coming to an end and there's not a lot that the USA can do about it, except start another world war. And can't you see that coming?