The demise of the dollar
In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading
This action is NOT the ‘New World Order’. These states are acting to protect their wealth from being wiped out by the dollar bubble. All of their currencies used to be backed by gold, indirectly via the Federal Reserve dollar. Nixon removed the gold to dollar link, and the Federal Reserve kept printing dollars, while all currencies were backed by those dollars. It is a fraudulent pyramid scheme and nothing less.
Now that the people in charge of these countries have finally woken up to what all of this really means, i.e., that their money is worthless because it is backed by dollars which are backed by nothing, they are scrambling around to set up a new fiat system where THEY control the printing presses, and not the Federal Reserve.
They have to design a new fiat money system before the bubble bursts; it has to be one that everyone will trust, and it needs to be transitioned to in such a way that their currencies that are in circulation do not have to be replaced.
In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.
This system will fail, just as all fiat currency systems have failed. The only real money is gold, and the sooner they wake up to this fact, the sooner they will have stable currencies and long term prosperity.
We see that they are going half way at least:
and Robert Fisk is wrong about the timescale it seems.
All ‘third world’ oil producing countries should stop accepting ANY fiat currency in exchange for oil. They should only accept gold or silver.
Once they start receiving gold and silver for oil, they should mint this metal into coins the size of a US Dime (in the case of gold for example), and these coins should replace all fiat paper money incrementally.
When this happens, the country that adopts gold coins for all transactions will have a monetary system that cannot be inflated, since the government cannot produce gold out of thin air.
Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.
The plans, confirmed to The Independent by both Gulf Arab and Chinese banking sources in Hong Kong, may help to explain the sudden rise in gold prices, but it also augurs an extraordinary transition from dollar markets within nine years.
The Americans, who are aware the meetings have taken place – although they have not discovered the details – are sure to fight this international cabal which will include hitherto loyal allies Japan and the Gulf Arabs. Against the background to these currency meetings, Sun Bigan, China’s former special envoy to the Middle East, has warned there is a risk of deepening divisions between China and the US over influence and oil in the Middle East. “Bilateral quarrels and clashes are unavoidable,” he told the Asia and Africa Review. “We cannot lower vigilance against hostility in the Middle East over energy interests and security.”
This now explains why american administrations have been trying to take over the countries that supply oil. They knew that the dollar was going to die, and that they would not be able to pay for oil in the future, since all the gold in Fort Knox is gone. Once they owned all the countries that produce oil, they would have been able to steal the oil without paying for it (i.e. pay in Federal Reserve Notes until the end of time).
They have FAILED.
The elephant in the middle of the room in this Robert Fisk article is the lack of the word ‘Sterling’.
I wonder if there has been a prohibition of discussing the state and true nature of the pound in any national newspaper… it would make sense; any article that could potentially trigger a sterling sell off would want to be avoided by Neu Liebour.
Note that Britain is not in the list of countries that attended these secret meetings.
Note also that Nigeria was not invited. Mr Obama refused to visit Nigeria on his first official visit to the African continent. That was a mistake, if he wanted to keep Nigeria accepting worthless dollars in exchange for oil.