Socio-Economics History Blog

Socio-Economics & History Commentary

US Support for Saudis Highlights Washington’s Indifference to Human Rights: Analyst

  • PressTV News Videos Published on Oct 18, 2017
    The US government’s support for Saudi Arabia in its brutal war against Yemen highlights that Washington and Riyadh threaten human rights and are indifferent to human suffering, says an American analyst.

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October 20, 2017 Posted by | GeoPolitics | , , , , , , | Leave a comment

Breaking: China Moves To Kill The Petrodollar, Tells Saudi Arabia — China Will Pay For Oil In Yuan-Gold

  • The Alex Jones Channel Published on Oct 18, 2017
    China is making its move against America, not with military force but by trying to destroy the US economy.

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October 19, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , | Leave a comment

Trump Has No Moral Qualms about Arms Sales to Saudis: Analyst

  • PressTV News Videos Published on Oct 17, 2017
    US President Donald Trump will keep selling weapons to Saudi Arabia, which is committing war crimes in Yemen, because he is a businessman who does not have moral qualms about such issues, an analyst in New York says.

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October 18, 2017 Posted by | GeoPolitics | , , , , , , , , | Leave a comment

End of Petrodollar: Rise of Economic Protectionism to Reshape Global Trade

  • End of Petrodollar: Rise of Economic Protectionism to Reshape Global Trade
    by https://sputniknews.com/
    The era of petrodollar recycling is drawing to an end as shifts in technology and international politics render it redundant, meaning the US is entering volatile times.

    Kristian Rouz — The rise of economic protectionism and nationalism in politics of the recent years, including the gradual implementation of US President Donald Trump’s agenda and Brexit reshaping the contours of European trade, are poised to bring an end to the petrodollar recycling. These developments signal the first overhaul of international economic relations since the Nixon administration in the early 1970s in the United States.

    The petrodollar system entailed the end of the gold standard in the US, which had its national currency pegged to the value of gold at $35 per ounce in the aftermath of World War II. However, the severe challenges that global economy faced in the late 1960s pushed the administration of Richard Milhous Nixon to abandon the system.

    “The essence of the deal was that the US would agree to military sales and defense of Saudi Arabia in return for all oil trade being denominated in US dollars,” The Huffington Post explains.

    The shale revolution in oil productionin the early 2010s rendered this system irrelevant in the US, as North America is becoming increasingly independent of crude oil imports and has, in fact, increased its own oil and petrochemical exports under President Trump.

    However, President Trump’s push for greater protectionism faces obstacles, mainly in the form of a significant Saudi investment in US Treasury bonds accrued over the past 40 years. The petrodollar system has allowed Saudi Arabia to increase its foreign reserves, and many other prominent oil-producing nations have followed the same foreign investment pattern.

    The US, on its part, was able to increase its money supply by printing dollars, which has produced major dollar devaluation, by over 30 percent since the early 1980s. Subsequently, other oil importers, in order to pay for energy, had to buy US dollars first.

    read more.

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October 16, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , , , , | Leave a comment

Saudi Arabia, Israel to Push Congress to End JCPOA — Iran Nuclear Deal

  • PressTV News Videos Published on Oct 13, 2017
    Former US diplomat in Saudi Arabia, Michael Springmann believes the Saudi and Israeli regimes are seeking to pressure the US Congress to scrap the Iran nuclear deal.
http://www.timesofisrael.com/saudis-said-to-mull-air-passage-for-israeli-jets-to-attack-iran/

Click on image for article.

http://www.timesofisrael.com/israel-said-to-be-working-with-saudi-arabia-on-iran-strike-plan/

Click on image for article.

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October 14, 2017 Posted by | GeoPolitics | , , , , , , , , , | Leave a comment

China Could Shatter Petrodollar by Compelling Saudi Arabia to Trade Oil in Yuan

https://www.rt.com/business/406373-china-saudi-arabia-yuan-oil/

Click on image for article.

  • US-Pentagram: “We will conduct more freedom of navigation exercise in the South China Sea and we do not accept Chinese sovereignty over the islands in the South China Sea. … and we warn the Chinese – Al Qaeda and ISIS about to launch attacks on Chinese territories. (wink wink)”

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October 12, 2017 Posted by | Economics, GeoPolitics | , , , , , , , | Leave a comment

Reconciling Rivals: Russia Offers to Mediate in Iran-Saudi Relations

  • RT Published on Oct 11, 2017
    Russia has offered to act as a mediator between Iran and Saudi Arabia. The two countries have long-standing diplomatic differences, which some have compared to a modern ‘cold war’. RT’s Ilya Petrenko explains the scale of the issues that Russia hopes to help resolve.

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October 12, 2017 Posted by | GeoPolitics | , , , | Leave a comment

The Debate: US Supporting ISIS-Daesh

  • PressTV News Videos Published on Oct 8, 2017
    The Secretary General of the Lebanese Resistance Movement Hezbollah Sayyed Hasan Nasraallah has said that the US does not want the Syrian military, accompanied by its allies to deal a final blow to DAESH. He said Washington benefits from the terrorist group and wants the instability to remain in the region, while keeping the people busy and having them pay a heavy price. But he said the US-Saudi Project has been defeated in Syria, in Iraq, in Lebanon and will be defeated in Bahrain and Yemen too. What does this mean for the region and for the world?
http://theduran.com/russia-releases-photos-proving-ussdfisis-collusion-deir-ez-zor/

Click on image for article.

https://www.rt.com/news/404365-us-special-forces-isis/

ISIS= CIA jihadists. Click on image for article.

http://thefreethoughtproject.com/isis-commander-israeli-mossad-agent/

Click on image for article.

https://sputniknews.com/middleeast/201709071057182244-daesh-deir-ez-zor-us-evacuation/

Click on image for article.

https://www.rt.com/news/401672-syria-rebel-isis-us-weapons/

Click on image for article.

https://sputniknews.com/columnists/201705251053969840-daesh-west-stench-of-death/

ISIS = CIA jihadists. Click on image for article.

https://www.rt.com/news/386027-isis-apologized-israel-golan/

ISIS is a tool of the Israeli Mossad. Click on image for article.

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October 10, 2017 Posted by | GeoPolitics | , , , , , , , , , , , | Leave a comment

Saudi King Bows to New Middle East Tsar Putin And Brings Billions For Joint Projects With Russia

October 9, 2017 Posted by | GeoPolitics | , , | Leave a comment

Petrodollar Collapse Alert: Russia and Saudi Arabia ‘Sign $3 Billion Arms Deal’ – Jerry Robinson

  • Follow the Money Published on Oct 6, 2017
    In this brief audio clip, Christian economist Jerry Robinson shares his insights into the warming of ties between Saudi Arabia and Russia and explains what it could mean to the failing petrodollar system. Read more about the petrodollar system here… http://ftmdaily.com/petrodollar

    Russian President Vladimir Putin hosted Saudi Arabia’s King Salman for talks at the Kremlin on Thursday, cementing a relationship that is pivotal for world oil prices and could decide the outcome of the conflict in Syria. King Salman, the first sitting Saudi monarch ever to visit Russia, led a delegation to Moscow that agreed joint investment deals worth several billion dollars, providing much-needed investment for a Russian economy battered by low oil prices and Western sanctions. Saudi Arabia said it had signed a memorandum of understanding on the purchase from Russia of S-400 air defense systems. That marked a shift for the kingdom, which buys most of its military kit from the United States and Britain.

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October 9, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , | Leave a comment

Saudia Arabia Pivots Towards Russia And Away From The US

  • X22Report Published on Oct 6, 2017
    Spanish courts are trying to block the Catalan independence vote. Russia and Saudi leaders meet and agree on a oil deal and a weapons deal. Saudi Arabia is pivoting away from the US and towards Russia. US troops can now fire in Afghanistan. North Korea keeps shouting about war, but they are not making any preparations. The IS and Site Intelligence are pushing the idea that Paddock was radicalized. Was Stephen Paddock working with the intelligence agencies. Julian Assange  says most terror plots are orchestrated by the FBI.

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October 7, 2017 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , | Leave a comment

Israeli Commentator: ‘The Deal of the Century’ for Trump. What Role for Bin Salman? Palestinian State to be Established in North Sinai

https://www.middleeastmonitor.com/20170507-israeli-commentator-the-deal-of-the-century-for-trump-what-role-for-bin-salman/

Click on image for article.

http://www.yenisafak.com/en/news/egypt-to-sell-parts-of-sinai-to-israel-2774532

Click on image for article.

http://www.aljazeera.com/indepth/features/2017/07/gaza-sinai-state-possibility-palestinians-170716093036972.html

The fulfillment of Revelation 12 is near! Click on image for article.

http://www.mintpressnews.com/saudi-us-conditions-mohamed-bin-salman-king/229266/

Click on image for article.

http://www.jpost.com/Middle-East/Gaza-Sinai-state-idea-a-danger-under-Trump-warns-Gaza-analyst-482137

The Zionist Synagogue of Satan and their allies intend to drive all Palestinans (ie. REAL JEWS) from Gaza and West Bank into the Sinai Peninsula. This is the imminent fulfillment of Revelation 12. 23 Sept 2017 is approaching rapidly. Click on image for article.

https://jpupdates.com/2017/02/14/minister-says-netanyahu-will-push-trump-for-palestinian-state-in-egypt/

The fulfillment of Revelation 12 is imminent. Click on image for article.

https://www.middleeastobserver.org/2017/02/15/israeli-minister-says-netanyahu-trump-will-push-for-a-palestinian-state-in-sinai/

23 Sept 2017 is approaching rapidly! Click on image for article.

http://www.palestinechronicle.com/israeli-minister-says-netanyahu-and-trump-to-discuss-palestinian-state-in-sinai-and-gaza/

The fulfillment of Revelation 12 is imminent. 23 Sept 2017 is rapidly approaching. Click on image for article.

https://www.dailysabah.com/mideast/2017/02/17/israel-proposes-creation-of-palestinian-state-in-sinai-peninsula

The fulfillment of Revelation 12 is imminent. 23 Sept 2017 is rapidly approaching. Click on image for article.

October 6, 2017 Posted by | EndTimes, GeoPolitics, Social Trends | , , , , , , , , | Leave a comment

Challenging the Dollar: China and Russia’s Plan from Petroyuan to Gold

  • Challenging the Dollar: China and Russia’s Plan from Petroyuan to Gold
    by FEDERICO PIERACCINI, https://www.strategic-culture.org/
    As seen in my previous article, US military power is on the decline, and the effects are palpable. In a world full of conflicts brought on by Washington, the economic and financial shifts that are occurring are for many countries a long-awaited and welcome development.

    If we were to identify what uniquely fuels American imperialism and its aspirations for global hegemony, the role of the US dollar would figure prominently. An exploration of the depth of the dollar’s effects on the world economy is therefore necessary in order to understand the consequential geopolitical developments that have occurred over the last few decades.

    The reason the dollar plays such an important role in the world economy is due to the following three major factors: the petrodollar; the dollar as world reserve currency; and Nixon’s decision in 1971 to no longer make the dollar convertible into gold. As is easy to guess, the petrodollar strongly influenced the composition of the SDR basket, making the dollar the world reserve currency, spelling grave implications for the global economy due to Nixon’s decision to eliminate the dollar’s convertibility into gold. Most of the problems for the rest of the world began from a combination of these three factors.

    Dollar-Petrodollar-Gold
    The largest geo-economic change in the last fifty years was arguably implemented in 1973 with the agreement between OPEC, Saudi Arabia and the United States to sell oil exclusively in dollars.


    Specifically, Nixon arranged with Saudi King Faisal for Saudis to only accept dollars as a payment for oil and related investments, recycling billions of excess dollars into US treasury bills and other dollar-based financial resources. In exchange, Saudi Arabia and other OPEC countries came under American military protection. It reminds one of a mafia-style arrangement: the Saudis are obliged to conduct business in US dollars according to terms and conditions set by the US with little argument, and in exchange they receive generous protection.

    De-dollarize
    Beijing has started putting strong pressure on Riyadh to start accepting yuan payments for oil instead of dollars, as are other countries such as the Russian Federation. For Riyadh, this is an almost existential issue. Riyadh is in a delicate situation, dedicated as it is to keeping the US dollar tied to oil, even though its main ally, the US, has pursued in the Middle East a contradictory strategy, as seen with the JCPOA agreement. Iran, the main regional enemy of Saudi Arabia, was able to have sanctions lifted (especially from Europeans countries) thanks to the JCPOA. In addition, Iran was able to pursue a historic victory with its allies in Syria, gaining a preeminent role in the region and aspiring to become a regional powerhouse. Riyadh is obliged to obey the US, an ally that does not care about its fate in the region (Iran is increasingly influential in Iraq, Syria and Lebanon) and is even competing in the oil market. To make matters worse for Washington, China is Riyadh’s largest customer; and considering the agreements with Nigeria and Russia, Beijing can safely stop buying oil from Saudi Arabia should Riyadh continue to insist on receiving payment only in dollars. This would badly hurt the petrodollar, a perverse system that damages China and Russia most of all.


    read more.

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October 6, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , | Leave a comment

RAW: Saudi King’s Escalator Breaks Down as He Arrives in Moscow on Historic State Visit

October 6, 2017 Posted by | GeoPolitics | , | Leave a comment

Russia, Saudi Arabia Announce Billons In Energy, Military Deals, During Historic King Salman Visit

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October 6, 2017 Posted by | Economics, GeoPolitics | , , | Leave a comment