Syria to promote Petro Euros
I just read online that Syria just announced that it would start charging for its oil in euros instead of the tradition dollar. In researching this topic i found a very interesting article. Don’t know if its conspiracy theory or not, but its interesting reading nonetheless.
The Proposed Iranian Oil Bourse
here’s an excerpt.
The Proposed Iranian Oil Bourse
by Krassimir Petrov
I. Economics of Empires
A nation-state taxes its own citizens, while an empire taxes other nation-states. The history of empires, from Greek and Roman, to Ottoman and British, teaches that the economic foundation of every single empire is the taxation of other nations. The imperial ability to tax has always rested on a better and stronger economy, and as a consequence, a better and stronger military. One part of the subject taxes went to improve the living standards of the empire; the other part went to strengthen the military dominance necessary to enforce the collection of those taxes.
Historically, taxing the subject state has been in various forms—usually gold and silver, where those were considered money, but also slaves, soldiers, crops, cattle, or other agricultural and natural resources, whatever economic goods the empire demanded and the subject-state could deliver. Historically, imperial taxation has always been direct: the subject state handed over the economic goods directly to the empire.
For the first time in history, in the twentieth century, America was able to tax the world indirectly, through inflation. It did not enforce the direct payment of taxes like all of its predecessor empires did, but distributed instead its own fiat currency, the U.S. Dollar, to other nations in exchange for goods with the intended consequence of inflating and devaluing those dollars and paying back later each dollar with less economic goods—the difference capturing the U.S. imperial tax. Here is how this happened.
Early in the 20th century, the U.S. economy began to dominate the world economy. The U.S. dollar was tied to gold, so that the value of the dollar neither increased, nor decreased, but remained the same amount of gold. The Great Depression, with its preceding inflation from 1921 to 1929 and its subsequent ballooning government deficits, had substantially increased the amount of currency in circulation, and thus rendered the backing of U.S. dollars by gold impossible. This led Roosevelt to decouple the dollar from gold in 1932. Up to this point, the U.S. may have well dominated the world economy, but from an economic point of view, it was not an empire. The fixed value of the dollar did not allow the Americans to extract economic benefits from other countries by supplying them with dollars convertible to gold.
If you found this post helpful, consider donating to my coffee fund!![[del.icio.us]](http://images.del.icio.us/static/img/delicious.small.gif){kind=small}
- Venezuela Devalues Its Currency Here's an interesting article by Dominic Frisby about Venezuela's devaluation, the effect on a country's currency and the relation with gold prices. Gold bugs are forever telling you to buy gold because it is 'nobody else's liability'. It's become one of those hackneyed phrases that has almost lost its meaning.......
- Is Gold A Bargain At $950/Oz! I'm finally back in the US! Last week, I heard Dr. Marc Faber, of GloomBoomDoom fame, on CNBC India. While gold is currently at a whopping $973/Oz, on that day gold had briefly touched $950/Oz for the first time ever. Dr. Faber said two things that were very interesting: 1.......
-
Counter Argument to China's Threat To Dumping US Dollars/Treasuries/ A few days ago,China threatened to offload its Billions of US Treasuries in retaliation to any US imposed trade tariffs.One of the newsletters I read regularly is from John Mauldin who doesn't think its likely that China will follow through with their threat.China has an estimated $900 billion in US......
Related Websites
- Why It Is Better to Buy Gold Coins for Sale from the Mint Coin collecting can be a very tough hobby to get started in. This is because many of those involved in collecting coins do not see it as a mere hobby. They see it as a way to make money as well as a way to learn more about the country......
- It's Déjà Vu All Over Again in the Falklands BABE HUGGETT: It may be hard to hear the drum of War beating over the hip-humping bleating of Lady Gaga but Britain just got a shot across its territorial bow once again by Argentina asserting control of all shipping between the contested Falklands and the Argentina coast. Argentina President Cristina......
- Forex Trading Computer Software That Was Determined Forex Trading : The most common question I have been getting lately is all about the FAP Turbo FX Robot. Simply put, individuals want to know if it is a scam or a genuine trading business program. There is a significant number of traders who have approved and are still......
[All content is copyright of Living Off Dividends & Passive Income]
Leave a Reply