After 1971 the US started to exchange the current
Gold standard with the USD, which eventually
became the "Petrodollar".
In an agreement in 1974 with Saudiarabia, the
agreement forced S-A to buy and sell oil only in
USD. The agreement was signed for 50 years.
The USD became the King of currencies even
for other oilproducing nations, and for businesses
in general.
Since then the value of Gold has been continously
suppressed in favour of the value of the USD.
Today when the US economy is on a down slope,
and the national dept is at a level where it is more
or less unpayable, Saudiarabia decided on June 9,
they day of renewal of the agreement, that they
would no longer trade oil in USD.
And a new currency alliance is on the rise, the
BRICS nations, which more and more refuse to
by and sell in USD, and have bought up a
tremendous stock of gold. probably to connect
their currencies to a new Gold standard or "a
basket" with gold as a main ingredience.
By all these manouvers the Gold is suddenly
rising in value againg, from actually having
been suppressed by the promoting of the USD
in unhealthy ways for a long time.
Now it has gone so far that the USD would
actually be in need to buy gold as a counter-
action against the BRICS, to secure a more safe
gold-stock themselves.
But that would reveal to the world that not even
the US believes in its currency anylonger, which
could cause a dramatic despise against the USD
on a very short time basis.
The only way around this would be to get the US
on its feet again. That is the goal by D Trump.
But the current fraudilent Whitre House admin
rather seem to weaken the US by cause, in bed
with foreign entities, in a betrayal of the nation.
//Björn Hellman
About the Petrodollar system:
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