Prepare for the Collapse of the Petro Dollar

I read these kind of articles everyday and this one in particular is a great one to understand what is currency, particular the US dollar the history and the future.
Did you know that from 1944 to 1971 the US dollar was backed by gold under the Bretton Woods System that allowed all countries to do International Trade in a currency that was backed by gold. So what happened after 1971? Good question.
After Nixon closed the gold window in 1971 the US made probably the most significant deal in history – The Petro Dollar system which began with Saudi Arabia agreeing to sell all their oil in US dollars and invest their surplus into buying US debt in trade for US military protection.
Once you understand this “dollar for oil arrangement” you  you will gain a more accurate understanding of what motivates America’s economic (and especially foreign) policy.
Read the rest of this amazing story here –
David Kendall
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