Trade Market Affiliates

Do you think the Russians hold a grudge for the fall of the USSR?
I do.
Do you think if they see an opportunity to cause the fall of the USA they’d take it?
I do.
Russia has emerged as the second largest oil exporter behind Saudi Arabia. Since the early 1970s, when the USA went off the gold standard, it has been the international trade in oil that has supported the value of the dollar. All oil exporting countries have demanded payment for oil in dollars. These are called petrodollars. Without this trade in dollars, U.S. currency would be virtually worthless.
In 2000, Iraq started demanding payment for it’s oil in Euros. Soon after, Jordan, Iran, and Venezuela also started trading oil in Euros. All of these countries were close allies to the old USSR.
Interestingly, France and Germany, two major countries in the EU, did not back the U.S. and the UK in the Iraqi invasion, which clearly was to stop the trade in Euros and not for WMD.
The situation is much more dire than being presented by the government. If only one more major oil exporter switches to trading oil in Euros, the U.S. dollar is going to crash. It will cause a depression here in the USA several times worse than the great depression. There is 2700 trillion U.S. dollars tied up in the international commodities market. If the Euro replaces the dollar as the international currency, the U.S. will have to buy all that script back.
Think about the effects of that.

Technorati Tags: about, international, Iraq, Trade