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Thread: PetroDollar & Iran & Iraq

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  1. #1
    Join Date
    Jan 2007
    San Diego

    Default PetroDollar & Iran & Iraq

    By: Jim Willie CB,

    The focus on gold and the USDollar alone lacks a crucial factor in maintaining the world currency reserve on its fragile pedestal. The PetroDollar is a term used to describe the close relationship between the USDollar and the crude oil export business dominated by Saudi Arabia, manifested in the superstructure of the global banking system. So one could say the oil world provides the pool from which the US$ exchange rate valuation is applied and enforced. The gold community pays far too little attention to crude oil factors in my opinion, but Adam Hamilton does indeed. Gold investors love to point to Iran war tensions as a factor to lift the gold price, but they might overlook how the associated earthquakes in banking shift the very ground under the world currency reserve.

    View the article from the link, I tried to post the entire article but can't
    Last edited by Tet; 04-20-07 at 09:33 AM.
    "Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one."
    - Charles Mackay



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