Conquer Club

This is the first time that I have heard about this, and I am American. Did you know that Sadam quit selling his oil for AMerican Dollars and started selling it for Euros? Also, Iran was set to do the same thing in 2006? Now Saudi Arabia is going to be doing the same thing?

Though this video is about a conspiracy, it is actually a quite interesting one. I don't know who the British guy is, but he did some exellent investigating into the matter.

Now I understand why the value of the Dollar has dropped. As is stated in the video (and please, if you know differently and to the contrary, post it).

To sum up the video:

Daddy Bush kicks Sadam's butt in Kuwait and imposes trade sanctions.
Iraq is hurt economically by this.
Sadam hates America now.
Sadam decides to sell his oil for Euros.
All oil, up until this juncture, has been selling for Dollars.
Dollars circulate back to UnitedStates BankofNewYork and the Fed.
Oil sold for Euros, does not come back to USA. So USA has to do more trading with Europe for Euros to buy oil.
Iran is to sell oil for Euros.
Saudi Arabia is to sell oil for Euros.
In effect, if US doesn't protect this interest, then the Dollar goes bust and can't recover.

Now, if you have about 45 minutes to kill, watch this video:

http://www.youtube.com/watch?v=k1oPEfa9Lws

Unlike 45 minutes, this takes about 10 seconds

What these words carefully

SHUT
THE
f*ck
UP

Oh Noez! Iraq was for Oil??? WTF!

Way to be a good four years late on this one...

Guiscard wrote:Oh Noez! Iraq was for Oil??? WTF!

Way to be a good four years late on this one...

Yeah, but it was the first I heard of the Petro-Dollar recycling system. That is why I posted it, I wanted others who have never heard of it before to watch this video. This answers the question of why oil is so important to the American economy...I mean, yeah, I knew it was for oil; but I didn't know specifically why, and this video explains the why.

saddam is alive?
(waits for consipracy response that saddam never died)

Hitman079 wrote:saddam is alive?
(waits for consipracy response that saddam never died)

I was told that Saddam is alive and is being kept in SaltLake City inside the confines and inner sanctum of the Mormon Temple.

Im no economist but im pretty sure that there is a flaw in the economics here, if the Euro has been strengthened by this then why has it not gained from other currencies such as Sterling.

Edit I just checked the first 5 relevant google articles on the subject and all agreed that there was no negative effect to the US economy or to the overall strength of the dollar.

comic boy wrote:Im no economist but im pretty sure that there is a flaw in the economics here, if the Euro has been strengthened by this then why has it not gained from other currencies such as Sterling.

Edit I just checked the first 5 relevant google articles on the subject and all agreed that there was no negative effect to the US economy or to the overall strength of the dollar.

You should post what you found, and what subject you are talking about. You are talking fairly vague, so i am not quite sure what you looked up on Google?

I don't know what sources you found, could you please post?

DaGip wrote:

Hitman079 wrote:saddam is alive?
(waits for consipracy response that saddam never died)

I was told that Saddam is alive and is being kept in SaltLake City inside the confines and inner sanctum of the Mormon Temple.

please tell me that was a joke. You never know with conspiracy theorists

Iliad wrote:

DaGip wrote:

Hitman079 wrote:saddam is alive?
(waits for consipracy response that saddam never died)

I was told that Saddam is alive and is being kept in SaltLake City inside the confines and inner sanctum of the Mormon Temple.

please tell me that was a joke. You never know with conspiracy theorists

I heard that from a man who called him self The Angel Michael. A wandering derilict from Las Vegas. He also told me that President Bush was the last President of the United States...now, that prophecy might be true.

DaGip wrote:

Iliad wrote:

DaGip wrote:

Hitman079 wrote:saddam is alive?
(waits for consipracy response that saddam never died)

I was told that Saddam is alive and is being kept in SaltLake City inside the confines and inner sanctum of the Mormon Temple.

please tell me that was a joke. You never know with conspiracy theorists

I heard that from a man who called him self The Angel Michael. A wandering derilict from Las Vegas. He also told me that President Bush was the last President of the United States...now, that prophecy might be true.

That was probably jay.

heavycola wrote:

DaGip wrote:

Iliad wrote:

DaGip wrote:

Hitman079 wrote:saddam is alive?
(waits for consipracy response that saddam never died)

I was told that Saddam is alive and is being kept in SaltLake City inside the confines and inner sanctum of the Mormon Temple.

please tell me that was a joke. You never know with conspiracy theorists

I heard that from a man who called him self The Angel Michael. A wandering derilict from Las Vegas. He also told me that President Bush was the last President of the United States...now, that prophecy might be true.

That was probably jay.

The effect of this could impact the demand for American Dollars in a very, very marginal way, but to say that this would cause the dollar to go bust is nonsense.

If you want to worry about the value of the $US, start worrying that China and Japan will flood the market with the hundreds of billions worth of $US T-Bills that they are holding. Now THAT would impact the dollar.

http://www.telegraph.co.uk/money/main.j ... ina105.xml

PerkinsRooster wrote:The effect of this could impact the demand for American Dollars in a very, very marginal way, but to say that this would cause the dollar to go bust is nonsense.

If you want to worry about the value of the $US, start worrying that China and Japan will flood the market with the hundreds of billions worth of $US T-Bills that they are holding. Now THAT would impact the dollar.

http://www.telegraph.co.uk/money/main.j ... ina105.xml

That is quite interesting as well. More the reason to vote for Ron Paul, in my opinion.

When the UnitedStates gave over their currency to the Fed, it in effect gave control of the government to foreign investors. The United States needs to give control of its currency back to American private bankers, and we need to back our dollars with gold again. Right now, the dollar isn't backed by anything, just an American military strong arm.

Is that enough?