“The petrodollar system is collapsing for two reasons. The US has abused its privileged reserve currency position by printing trillions of dollars in an effort to create inflation. More recently, President Obama has taken steps to anoint Iran as the regional hegemon of the Middle East, and to ease the way, in stages, toward Iran’s possession of nuclear weapons capability. This is viewed as a stab-in-the-back by the Saudis and the Israelis and will lead quickly to Saudi Arabia obtaining nuclear weapons from Pakistan. There is also a newly emerging alliance among Saudi Arabia, Israel, Egypt, and Russia. The new alignment will have no particular use for US dollars and no reason to support them.”
Jim Rickards: Decline of the Petrodollar System is Good for Gold
- Post author:The Freedom Watch Staff
- Post published:December 11, 2013
- Post category:Economy / END the FED / Network Archives / News / The Freedom Watch
Tags: Alt/Indie News, Bankocracy, CLibertyC, constitutional liberty coalition, Currency Wars, economic Trends, for life and liberty, Geopolitics, Investment/Trends, Middle East, new world order, Precious Metals, Resistance, sound money, The Freedom Watch
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