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The Deal 
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Soon after the collapse of the Bretton Woods gold standard in the early 1970s, when the US unilaterally abandoned the Gold Standard which pegged the value of the dollar to the price of gold, and all other currencies were pegged to the dollar, the US struck a deal with Saudi Arabia to standardize oil prices in dollar terms.

Though no formal proof exists for the oft-repeated assertion, Turkish conservative daily newspaper Yeni Safak recalls that it was Richard Nixon's Secretary of State, Henry Kissinger, who made a secret visit to Saudi Arabia as early as 1972, to fix and set what became later called the "petrodollar system and petrodollar recycling."

Kissinger may have sealed a deal whereby Saudi Arabia would formally and solely accept dollars for all its oil sales, and would exert its power over the Arab region to ensure other Gulf exporters did the same.

Saudi Arabia would then make available and place "surplus liquidities," unspent dollars, in the US Federal Reserve system, starting with the Federal Reserve Bank of New York.

​The petrodollar recycling system thereby elevated the US dollar to the world's reserve currency and brought massive advantages to the US.

Worldwide, any buyer and importer of Arab oil would first need to buy and hold dollars, ensuring strong global demand for the US currency. -- source

That's pretty much what I said all those years ago when I wrote "The Deal".

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Sun Apr 03, 2016 8:20 pm
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And again...

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And so, a partnership and a strategic alliance were formed: The US agreed it would guarantee the survival of the House of Saud, provide military security for the Saudi oil fields, as well as sell arms weapons to the Saudi government.

In return, Saudi Arabia would use its leverage in OPEC to ensure all oil transactions would be in USD, invest its own Dollars generated from oil sales in US investment vehicles, maintain influence over price levels and prevent another oil embargo. -- source

It has taken nearly 50 years for this information to come forward, and it still isn't talked about in the mainstream media. That means the bulk of Americans are still completely ignorant of the criminality that has been going on in the USA since before the Federal Reserve was created in 1913. Our own leaders lie to us, cheat us, and steal from us. They have for over 100 years. They are doing it to this day! And it is getting progressively worse.

At some point, we have to throw off the parasites and design a new system. Either that, or they suck the life-force right out of us, and we live as zombies.

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Mon Jul 25, 2016 3:34 am
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And here it is again! Information about The Deal is still seeping out in the alternative media, but not the mainstream media. This means the general public will be the last to know, if they ever do know.

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In the 1970s, the Arab nation struck a deal with U.S. President Richard Nixon establishing an alliance that would maintain the dollar as the standard oil exchange currency in exchange for military support from America. The use of the dollar as a standard currency for oil exchange was accepted by Saudi Arabia and the remaining block of Organization of the Petroleum Exporting Countries (OPEC), which include Iran and 11 other Middle Eastern, African, and South American countries.

OPEC countries account for 42 percent of global oil production, holding 73 percent of the world’s oil reserves. Due to its influence, the use of the U.S. dollar as its standard currency helps to keep demand for the U.S. dollar high, giving the currency the support it requires to remain “the world’s reserve currency” and preventing the effects of inflation from hitting the U.S. consumer.

Iran’s decision to exit this deal might impact the U.S. economy and threaten the dollar, prompting the U.S. government to take stern measures to combat Iran’s actions. After all, Iran holds 13 percent of OPEC’s oil reserves. -- source

Note that the petrodollar scheme is not about "preventing the effects of inflation from hitting the U.S. consumer", as this quote claims. No, it is about delaying the effects of hyperinflation from hitting the U.S. consumer. We've always had lots of inflation since we went off the gold standard in 1971. The petrodollar scheme was put in place right after 1971 to keep the dollar scam going by forcing the whole world to participate. That scam has run its course and is about to collapse. Iran's public withdrawal from the scam may be the first domino to fall.

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Fri Feb 03, 2017 7:53 am
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More confirmation that "The Deal" blog I wrote so long ago was correct:

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The Bretton Woods system made the US dollar the world’s premier reserve currency. It effectively forced other countries to store dollars for international trade, or to exchange with the US government for gold.

However, this pseudo gold standard was doomed to fail.

Not surprisingly, runaway spending on warfare and welfare caused the US government to print more dollars than it could back with gold at the promised price.

By the late 1960s, the number of dollars circulating had drastically increased relative to the amount of gold backing them. This encouraged foreign countries to exchange their dollars for gold, draining the US gold supply. It dropped from 574 million ounces at the end of World War 2 to around 261 million ounces in 1971.

To plug the drain, President Nixon “temporarily” suspended the dollar’s convertibility into gold in 1971. This ended the Bretton Woods system and severed the dollar’s last tie to gold.

The “temporary” suspension is still in effect today.

This is why the Fed can print as much paper money as it pleases. -- source

Pseudo gold standard is right. The money was paper with a promise to exchange it for gold. When do ruling sociopaths keep their promises? Almost never, because they are liars.

So once that scam fell apart, the petrodollar scam was introduced.

Quote:
So, the US government concocted a new scheme—the petrodollar system. It gave foreign countries another compelling reason to hold and use the dollar.

The new arrangement preserved the dollar’s special status as the world’s top reserve currency.

For President Nixon and Secretary of State Henry Kissinger, it was a geopolitical and financial masterstroke.

From 1972 to 1974, the US government made a series of agreements with Saudi Arabia that created the petrodollar system.

The US handpicked Saudi Arabia because of the kingdom’s vast petroleum reserves and its dominant position in OPEC—and because the Saudi royal family was (and is) easily corruptible.

In essence, the petrodollar system was an agreement that the US would guarantee the House of Saud’s survival.

In exchange, Saudi Arabia would:

  • Use its dominant position in OPEC to ensure that all oil transactions would only happen in US dollars.
  • Recycle the many billions of US dollars from oil revenue into American weapons manufacturers and infrastructure companies—and critically, into US Treasuries. This let the US issue more debt and finance previously unimaginable budget deficits. By 1977, at least 20% of all Treasuries held abroad were in Saudi hands.
  • Guarantee the price of oil within limits acceptable to the US and prevent another oil embargo.
-- source

That was The Deal. That was why the biggest oil discovery in the world on Gull Island off the coast of northern Alaska was quietly capped and classified as secret. The entire island was turned into a wildlife sanctuary to keep it off-limits. That oil, which would have made the U.S. totally energy-independent, was left in the ground so that The Deal could be maintained.

Quote:
The petrodollar system is why people and businesses everywhere in the world take US dollars. Other countries have had little choice over this.

Today, the biggest US exports are dollars and government debt. The US government can create unlimited quantities of both… from nothing.

It requires no effort to create US dollars, which can then be exchanged for real things like French wine, Italian cars, electronics from Korea, or Chinese manufactured goods.

Ultimately, the petrodollar boosts the US dollar’s purchasing power. It entices foreigners to soak up many of the new currency units the Fed creates.

The system helps create a deeper, more liquid market for the dollar and US Treasuries.

It also helps the US keep interest rates artificially low. This allows the US government to finance enormous and permanent deficits. Otherwise, this would be impossible without destroying the currency through money printing and inflation.

The petrodollar allows the US to finance the world’s largest military, which is bigger than the next seven largest militaries combined.

The petrodollar has also allowed the US to spend astronomical amounts of money on welfare and other benefits for over half of its population. It gives Americans a much higher standard of living than they would have otherwise.

In short, the petrodollar is the ultimate enabler of big government.

The US government could never have become as powerful without it.

It’s hard to overstate how much the petrodollar system benefits the US. It’s the bedrock of the US financial system.

And it’s the reason the US political elite pamper the Saudis. -- source

Geez, did "Tyler Durden" read my blog some time ago? We are on the same page and reading almost verbatim.

Quote:
The US takes this unique position for granted. But it will disappear once the petrodollar system breaks down.

When that happens, I expect severe inflation.

This will likely be the tipping point…

Afterward, the US government will be desperate enough to implement capital controls, people controls, nationalization of retirement savings, and other forms of wealth confiscation. -- source

Quite right, this is going to end very badly. It's inevitable, unless a more outrageous scam is dreamed up by U.S. leaders. But it won't be. The plan of the ruling sociopaths at the global level is to neuter the United States as a world power. Just as they did to Germany with WW2, they will do to the USA. They will crush it into unimaginable submission.

Get ready. Something evil this way comes.

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Fri Nov 10, 2017 8:57 pm
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And wouldn't you know it, here is even more confirmation that "The Deal" as I laid it out all those years ago is likely the real story of the petro-dollar!

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So a new way was sought to force other countries to hoard more of this confetti currency. Jew Henry Kissinger, as both Secretary of State and Chief of the WH’s National Security Council, and as a member of the Bilderberg Group, started to implement this Group’s plan to save the US$ as the world’s ‘indispensable currency’.

He got William Simon as Treasury Secretary to conduct secret negotiations with the Saudis to sell their oil only for US$ in exchange for military protection and being able to buy restricted US arms while the Saudis would have to park all their excess Dollars in US Treasuries, and as an extra sweetener being able to buy these Treasuries at a discount and without having to enter competitive bidding.

To top it all off the deal included a quadrupling of the oil price from $3 to nigh $12, which was enacted under the cover of the US orchestrated ‘oil shock’, with the Yom Kippur war of 1973 used as a ruse.

This deal with the Saudis was so lucrative and tempting that in rapid succession all other Arab oil producing countries joined the racket once it became known.

This ensured that the world had to suddenly hold multiples of US$ in reserves in order to buy oil, an essential, and the most traded commodity in value terms. It also ensured that the US could print copious amounts of extra paper Dollars and thus fund their gigantic military and occupation of half the planet, i.e. perpetuate their empire; which was the ploy from the outset!

Thus the US$ was now 'backed' by Oil instead of Gold; someone else's Oil! -- source

Nixon was a crook, despite his shameless claims to the contrary. Kissinger, of course was an even bigger crook, and should be rotting in jail instead of still practicing his deceit in the halls of power 47 years after his conspiring with Nixon! These slippery sociopaths seem to get away with the biggest scams imaginable, and they never go to jail!

That's why the U.S. justice system is also criminal. The criminals (sociopaths) are in control and literally getting away with murder. Remember, as General Smedley Butler revealed, war (legal murder) is a racket, done for financial profit and for what every sociopath lusts after — power and control.



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Wed Jul 11, 2018 6:11 am
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Liquidating US Treasuries, one of the world's safest and most actively-traded financial assets, has recently become a trend among major holders. Russia dumped 84 percent of its holdings this year, with its remaining holdings as of June totaling just $14.9 billion. With relations between Moscow and Washington at their lowest point in decades, the Central Bank of Russia explained the decision was based on financial, economic and geopolitical risks. -- source

"The Deal" is falling apart.

U.S. Treasuries are NOT one of the world's safest financial assets. This is just state propaganda being foisted on the public, directly contradicted by the Central Bank of Russia explaining it is dumping U.S. Treasuries because of "risks".

Quote:
China, the biggest holder of the US sovereign debt at $1.178 trillion, sold $4.4 billion worth of the US bonds in June. Since October 2011, China’s share of US Treasuries has declined by $138 billion. A fairly insignificant amount, but the escalating trade conflict with Washington could prompt Beijing to start massively dumping its holdings. The move could spell disaster for the US financial system. -- source

That's right, disaster. Does that sound like a risk to you? So much for U.S. Treasuries being one of the world's safest financial assets!

Quote:
Turkey’s holding of US Treasuries has fallen by 42 percent during the first half of the year. -- source

The contagion is spreading. The U.S. has been set up for a gigantic financial collapse by the ruling sociopaths. Will it be like the one in 1971, when "The Deal" saved us from collapse by kicking the can further down the road, leading directly to our current predicament? That 1971 action was a "problem - reaction - solution" type con that greatly increased the power wielded by the ruling sociopaths. It is highly likely that the current scenario is intended to do the same, once again at great cost to the American sheeple.



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Sat Aug 18, 2018 7:03 pm
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Here is more confirmation of my original blog "The Deal", posted over 11 years ago. It is gratifying to see that my understanding was correct. Our entire global money system is a con-game run by sociopaths. The root cause of this evil is the psychology of the sociopath. It is important to fully understand that sentence. All that is necessary for evil to spring forth is the sociopath. Sociopathy is the root of all evil.

Sociopathy is the root of all evil.




Prophet Muhammad (S) on America and it's Petrodollar System || Part- 1 of 2
(duration 31:33)

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Mon Feb 25, 2019 4:32 am
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The massive deception foisted on the American people regarding Venezuela is derived from "The Deal". Here is a simple explanation of how and why this is playing out.



What our government isn't telling us about Venezuela
(duration 26:55)


July 10, 2021: I just noticed this video has been censored at YouTube, and I can't find another copy of it anywhere on the Internet. I sure know how to pick them! Too bad you have been denied this knowledge by our owners.

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Wed May 15, 2019 10:23 pm
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In the report, Rancourt references Michael Hudson’s 1972 book ‘Super Imperialism: The Economic Strategy of American Empire’ to help explain the key role of maintaining dollar hegemony and the importance of the petrodollar to US global dominance. Aside from the significance of oil, Rancourt argues that the US has an existential interest to ensure that opioid drugs are traded in US dollars, another major global commodity. This explains the US occupation of Afghanistan. He also pinpoints the importance of US agribusiness and the arms industry in helping to secure US geostrategic goals.

Did you catch that? "This explains the US occupation of Afghanistan." Yes, we are still there, 17 years and counting.

Denis Rancourt clearly gets it, but there is one part he won't touch. All this is not to "secure US geostrategic goals" It is to "secure US/Israeli geostrategic goals". Israel runs the U.S., and Jewish sociopaths run Israel. But if Denis Rancourt wrote the whole truth, he wouldn't get published, because Jews control the publishing houses.

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Mon Jun 17, 2019 3:57 am
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With open lands for collateral already in short supply, the US Government embarked on a new program to shore up sagging international demand for the dollar. The United States approached the world’s oil producing nations, mostly in the Middle East, and offered them a deal. In exchange for only selling their oil for dollars, the United States would guarantee the military safety of those oil-rich nations.

The oil rich nations would agree to spend and invest their US paper dollars inside the United States, in particular in US Treasury Bonds, redeemable through future generations of US taxpayers. The concept was labeled the “petrodollar”. In effect, the US, no longer able to back the dollar with gold, was now backing it with oil. Other peoples’ oil. And that necessity to keep control over those oil nations to prop up the dollar has shaped America’s foreign policy in the region ever since. -- source

And there it is again! "The Deal" that I described 13 years ago is still virtually unknown to the American public, but it continues to be revealed and highlighted in obscure places by additional independent truth-seekers. But as long as the masses remain ignorant, these independent truth-seekers will be readily dismissed as "conspiracy theorists", when in fact they are conspiracy scholars.

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Sat Jul 10, 2021 6:49 am
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