Source: The Daily Economist, by Ken Schortgen
In a fascinating dichotomy where both the United States and Russia are implementing different foreign policy angles that will inevitably kill the petrodollar, their main target happens to be the same in the Arab Kingdom of Saudi Arabia.
Back in 1973 Nixon’s Secretary of State Henry Kissinger went to Saudi Arabia to forge what would become the next global backstop for keeping the dollar as the world’s reserve currency. But in doing so the U.S. made a promise to protect the Kingdom from foreign invasion, and in return the Saudi’s would ensure that OPEC used only dollars in their global selling of oil.
But what the U.S. did not anticipate was the fact that the Saudi monarchy followed a radical form of Islam that was hell bent on seeing all other sects utterly destroyed. And through their use of money, arms, and terrorism…
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