http://mobile.nytimes.com/2015/03/18/business/france-germany-and-italy-join-asian-infrastructure-investment-bank.html?referrer= Iraq did this Look what happened. Quick History on The Petro Dollar and How The U.S Currency NEEDS Oil For The Dollar To Have Value. The Reason Why The U.S went to war with Iraq was because they did the same exact thing without telling the U.S. They changed from dollars to Euros'. Iraq having the Fourth Largest Oil Reserves in the world. That would be a BIG Blow to the U.S. Early 1970s, the U.S stopped having gold back the Dollar. Mid 1970s they strike a deal with Saudi Arabia and Opec. Agreeing that to buy their oil you would need U.S Dollars eventually every country from "Opec" would agree. So instead of Gold, thier using oil to give Value to the Dollar. Supply and Demand. All countries need Oil So you have to Use U.S Dollars to buy it. Iraq shifted to the Euro. So U.S Invaded. That's why they Invaded Libya. Gadaffi wanted to Start a new Currency which would've been called the "Gold Dynar" countries would've switched to that currency. So the U.S invaded and murdered Gadadffi... So Gadadffi would've made Libya rich since they would've sold oil for their own currency. China Finally made their own Gold Currency the "Yuan" and people are switching. IRAN Switched Off the Dollar. That's why the U.S is saying they have a nuclear weapon or will have so they could go and invade( 3rd largest oil reserves). The countries are taking a stand. Not good for the U.S I just know my history not an expert. Thoughts?
Fuck does that mean the yanks are going to bomb england? I'd better start stashing tea and weed before the rationing starts.
even if/when the world switches to yuan as the reserve currency the transition will probably be a lot smoother then some kind of an all out war or another apocalyptic scenario.
Fence Germany and Italy? "Powers"? Lol This is exactly what the libertarians been trying to tell Americans. The reason we can't get clean energy, and the reason we have wars going on all the time, is because the entire American economy relies on global oil trade. As soon as oil stops being traded the dollar will collapse. But I'm just a loony conspiracy nut. Don't mind me. THE SKY IS FALLING -yuri
Once Britain decided to join, it was only a matter of time until Germany did. Because of the presence of the UK and Germany in this venture, Obama essentially finds himself going up against the whole European union, basically for the first time, and there's nothing he can do. Britain and Germany together are pretty much the only countries that can reject the petrodollar without facing repercussions from the us. London is the financial centre of Europe (and possibly the world) and Germany runs the EU. Other European countries will follow now that Germany and the UK have both joined. This is the first step towards ending the Bretton woods system
i'm not sure if this what you mean, but oil industry is not the largest contributor to the gdp. http://data.worldbank.org/indicator/NY.GDP.PETR.RT.ZS http://blogs.wsj.com/economics/2014/04/25/five-takeaways-from-new-gdp-by-industry-report/?mg=blogs-wsj&url=http%253A%252F%252Fblogs.wsj.com%252Feconomics%252F2014%252F04%252F25%252Ffive-takeaways-from-new-gdp-by-industry-report
Germany is an economic powerhouse while france tags just behind the uk both economically and militarily. Italy has spaghetti. Its not about USA oil production its the global oil trade which is fucking huge and keeps the dollar in constant circulation and demand.
and maybe it's finally time for the dollar to be sidelined. the notion that petro-dollar will not last forever is not really new. http://business.time.com/2009/10/06/what-if-oil-werent-priced-in-dollars/
its not about the ammount that it contributes. The value of the dollar is based on oil trade. What happens when the dollar becomes devalued? Food prices drop and minimum wage goes up? Probly not! -yuri
The U.S. did support the rebels in Libya but they were trying to overthrow Ghadaffi way before America got involved.
The CIA is and has been behind many government overthrows. We have no idea of knowing how early they infiltrated and co-opted any kind of resistance there. There is a political scientist from Stanford University that developed a future-predicting algorithim and has been contracted by the USG. his website: http://www.predictioneersgame.com/ His algorithim is claimed to have 90% accuracy. With multiple quantum computers working around the clock, this number could near 100%. Here is an article from the New York Times, written in 2009. The government is incredibly interested in technology like this. Universitites, especially MIT, are constantly developing new projects to be implemented by the government (Boston Dynamics comes to mind), and people working on those projects are typically contracted by the government later in life. Dr Bueno de Mesquita has been working with the most powerful and well-funded government on the planet, employing an incredibly accurate algorithim for predicting future events that is mostly likely referenced when making decisions regarding foreign policy. This kind of algorithim, combined with supercomputers, agents deployed in target regions, and economic sanctions/diplomatic actions, can definitely affect the outcome of a nation such as Libya and - assuming that enough preparation can be done beforehand and enough can be done behind the scenes - a single 'boot' never has to land on soil in that country. Basically, there is no way us plebs can truly understand just how much influence the USG has over the development of other countries and how much of the iceberg we are really able to catch a glimpse of.