“The petro-dollar system is the heart and soul of America’s domination over the global reserve currency, and their right to make all nations have to purchase U.S. dollars to be able to buy oil in the open market. Bound through an agreement with Saudi Arabia and OPEC in 1973, this de facto standard has lasted for over 41 years and has been the driving force behind America’s economic, political, and military power. But on Nov. 3 a new chink in the petro-dollar system was forged as China signed an agreement with Qatar to begin direct currency swaps between the two nations using the Yuan, and establishing the foundation for new direct trade with the OPEC nation.”
Related posts:
LAPD Brutality Continues: 54 People Shot & Killed In 2011
UK 'internet safety' plan just means internet censorship
Shakil Khan: Bitcoin can be “money over IP”, but services must get more intuitive
Mastercard Hates Bitcoins
226 (And Counting) Sheriffs Saying 'No' To Obama Gun Control
Woman Eaten In 45 Minutes By Protected Species Of Vultures
University of Nicosia Receives First Tuition Payment Using Bitcoin
Corrupt Cops Protecting Rodeo Board Caught by Their Own Cruiser Camera
Jeffrey Tucker: The Shoemaker and His Capitalist Elves
Bitcoin rapidly approaching $500 price tag, $5 billion market cap
Farmers help bitcoin grow organically in Argentina
Top Silk Road Drug Dealer Was Flipped By Feds
Leniency for a Uniformed Sexual Predator
Bitcoin Becomes a Real Job and Wall Street Is Hiring
Tax disclosure report reveals 'minnows' paid penalties of as much as 129x tax owed