Not really a conspiracy theory this, more of a conspiracy fact .... it was likely a factor in Bush moving against Iraq, might not have made much difference though, as he was fixed on an invasion from day one
It makes little sense to price all oil in usd, when the US consumes only one-quarter of it .... by going along with this use of usd, all the Rest of Us are subsidising the US economy, and fairly directly US military power, since the ability of the US Fed to print little green banknotes, or actually for the most part electronic representations of little green banknotes, and trade them for real goods and services, is a one-way ponzi scheme really ..... which means it'll work fine, until the Rest of Us lose confidence in its value, then poof, no more seigneurage effect, the flow reverses - and in exchange for what, you have to wonder
Better to use a trade-weighted basket of currencies, for something like oil ..... even better, since oil is non-renewable, to use another non-renewable, something more enduring and highly concentrated, easily portable, and hey why not malleable as well .... hmm, perhaps some metal of significant per-ounce value ... |
