Part 43 – The Petro-Dollar System

In 1973 Henry Kissinger went over to Saudi Arabia (KSA) and did a deal with the King – basically getting KSA (and other OPEC member countries) to use Dollars for their oil trades. This was called the Petro-Dollar System.

The US set up the Petro-Dollar System as a way of off-setting the effects of the ending of the Gold Standard. In a way, it replaced the Gold Standard.

Oil is the very lifeblood of the world economy. It’s the energy that powers the system. Without oil, the whole system would grind to a halt. The US administration realised that if they could link the dollar to oil, then the could secure the value of the $.

This is one of the reasons oil is called “Black Gold”.

The Petro-Dollar System is in its death throws. Russia and China are asserting their influence in KSA. This has gigantic geo-political implications. There is a de-Dollarisation in oil trades taking place.
China just recently announced 2 massive oil finds in China.

For an in depth look at how the Petro-Dollar System is dying (and more else besides) I would highly recommend you looking at a great series on YouTube by Mike Maloney called “the Hidden Secrets of Money”.

If you want to get an idea of the importance of KSA on the world stage and the Petro-Dollar System, then I would highly recommend you looking at a short video on YouTube by Jack Chapple called “The largest Empire in the world today … and no one knows about it”.

Wise up and rise up.