Petrodollar | Forum

DrKEV crew
DrKEV Jul 15 '15
Note: Thanks to fracking, US is resuming 'energy exporter' status. The only way to keep foreign held dollars from buying out the whole country, is to buy back the dollars with exports. However, now that anyone can produce 300,000 gallons of fuel every year on an acre, nobody is going to be importing energy much longer.

That means it is a level playing field now, and innovation, and access to mineral resources, will be what backs up currencies. Whatever happens to the dollar, those who have their own local energy and food sources established will be protected from fluctuations in energy, food, and other markets.

Since cash is almost never used in energy transactions, and almost always used in heroin and cocaine transactions, the point made in this trailer is superfluous. The outstanding debt on the books is much greater than the amount of actual currency floating around!

Anyway, this is a nice quick intro to what is meant by 'petrodollar.'

Demise of the Petrodollar and the End of American Power - The Colder War by Marin Katusa

Marin Katusa's blockbuster New York Times best selling book, "The Colder War: How the Global Energy Trade Slipped from America's Grasp" at
DrKEV crew
DrKEV Jul 17 '15

US Dollar History

The US central bank is called the Federal Reserve Bank (commonly referred to as "The Fed"). The USD is the most traded currency in the forex market and can be paired with all other major currencies. Common names for the USD include the greenback, buck, green, dough, smacker, bones, dead presidents, scrillas, and paper.

Importance of the US Dollar
The US Dollar is the most commonly converted currency in the world and is regularly used as a benchmark in the Forex market. As the dominant global reserve currency, it is held by nearly every central bank in the world. Additionally, the Dollar is used as the standard currency in the commodity market and therefore has a direct impact on commodity prices.

Dollarization of the USD
Due to its international acceptance, some countries like Panama and Ecuador use the USD as an official legal tender, a practice known as dollarization. For other countries the Dollar is an accepted alternative form of payment, though not an official currency for the country. Multiple currencies are pegged to the US Dollar...

Introduction of the US Dollar
In 1785, the Dollar was officially adopted as the money unit of the United States. The Coinage Act of 1792 created the first U.S. Mint and established the federal monetary system, as well as set denominations for coins specified by their value in gold, silver, and copper. In 1861, the U.S. Treasury issued non-interest-bearing Demand Bills and the very first $10 Demand Bills, featuring Abraham Lincoln, went into circulation. These bills quickly earned the nickname 'Greenbacks' because of their color. In 1863, a national banking system was established and guidelines for national banks were created. These banks were authorized to issue national currency secured by the purchase of US bonds. In 1914, the first $10 Federal Reserve notes were issued. In 1914, the first $10 Federal Reserve notes were issued.

Silver and Gold Standard in the US
For years, the United States attempted to make a bimetallic standard, starting by adopting a silver standard based on the Spanish Milled Dollar in 1785. However, silver coins soon left circulation becoming completely suspended by 1806. By this time, most countries had already begun to standardize transactions by adopting the gold standard, meaning that any paper money could be redeemed by the government for its value in gold. The Bretton-Woods system was adopted by most countries to set the exchange rates for all currencies in terms of gold. Since the United States held most of the world's gold, many countries simply pegged the value of their currency to the Dollar. Central banks maintained fixed exchange rates between their currencies and the Dollar, turning the US Dollar into the de facto currency of the world. In 1973, the US finally decoupled the value of the Dollar from gold completely.

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The Forum post is edited by DrKEV Dec 5 '15
DrKEV crew
DrKEV Dec 3 '15
If US becomes energy independent again, the dollar can be saved!  

Russia and China: The Dawning of a New Monetary System?
Familiariy with matters such as this is what separates the gurus from the teachers. Notwithstanding all of us here being students! ;)
The Forum post is edited by DrKEV Dec 5 '15
DrKEV crew
DrKEV Dec 7 '15
Some understanding of economics in general, is useful.

DrKEV crew
DrKEV Jan 24 '16
After listening to this you will have a better understanding of how the game has been rigged against the individual. Meaning you! And why the work we do here is so important! Please drop a dime in the bucket at bottom of page if you agree.


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