good summary of the petro-dollar system and its demise

[charliebrown]

http://www.financialsense.com/contri...odollar-system

I found this article helpful and I think it dove-tails with some of EJs precepts.

[c1ue]

Re: good summary of the petro-dollar system and its demise

Might be credible of the article didn't mention that the US was protecting Saudi Arabia from Israel.

[davidstvz]

Re: good summary of the petro-dollar system and its demise

I felt like the article got the basic flow and facts right, but in little things (such as the one c1ue mentions) it makes fundamental errors or at least assumptions on unproven matters with an ideological bent. I only looked at part 1 and 2 (of 4 parts).

[charliebrown]

Re: good summary of the petro-dollar system and its demise

i agree with your assesment of the ideological bend at the end, it did rub me wrong a little. Under the author's model, it would be good to stir the pot over there. After all if protection is part of the deal, if all is peaceful, then that protection will not have so much value. Perhaps another actor, Iran is being set up as the new bogey man. What is the relationship between Iran and the Saudis? If Israel and Iran start lobbing bombs, won't the Saudis have to pick a side?

[sunskyfan]

Re: good summary of the petro-dollar system and its demise

I am not sure I have any problem with the author's assumptions. The key is that the US military be used to protect the ruling families from a threat to the petrodollar arrangement. Thinking about it being a consporacy to have Isreal "stir the pot" with the Arab/Persian countries is like thinking there is a conspiracy that the sun will rise. More like making money of the fact that the sky is blue.