Oil, Blood and Treasure: The Petrodollar

– Sheesh, look at that thing. That gigantic edifice behind us is the Ronald Reagan Building and
International Trade Center. As Matt and I were exploring
this and other buildings in the DC area, this
building in particular, prompted us to think
about international trade. You’ve probably heard
about the TPP by now. It’s enormously controversial,
but there is another question that we have been asked about for years, on Facebook, Twitter, YouTube, email, and more, and that is this. What is a petrodollar? Would people really wage a war for it? (ominous music) – [Voiceover] From UFO’s to psychic powers and government conspiracies. History is riddled with
unexplained events. You can turn back now, or learn the stuff they don’t want you to know. (ominous music) Here are the facts. Every country on the planet
is also a financial trader. Boarding currencies, bonds,
and other financial instruments as a way to retain stability during uncertain economic shifts. Today, the U.S. dollar
has often been called the worlds reserve currency,
but what is it based on? In some circles analysts
believe the true value of the dollar is based on its popularity as the means of exchange
for international oil sales, leading traders, investors,
and policy wolk’s to refer to is as the petrodollar, so what is this exactly, and
why should it matter to you? Here’s where it gets crazy. The petrodollar may have
much more of an impact on global stability or instability
than it initially appears. According to author James Rickards, the U.S. dollar has been the world’s dominate reserve currency since the Bretton Woods agreement in 1944, which set forth global
rules for monetary policy. As analysts at J.P. Morgan write. Under the terms of the
Bretton Woods Agreement, signed in July 1944, the United
States agreed to exchange U.S. dollars for gold at a
fixed rate of $35 per ounce. Currencies of signatory
nations were pegged to the U.S. dollar within
a 1% deviation limit. Central banks would buy or
sell U.S. dollars to keep their currency within the
permitted fluctuation band. Thus, the U.S. dollar became the wold’s official reserve currency. As of 2014, over 60%
of all global reserves are in U.S. dollar denominated securities, but the dollar isn’t
based on gold anymore. Rickards argues that the dollar has been propped up by the petrodollar. The use of currency as the primary means of trading fossil fuels. According to the story, in the 1970’s, Henry Kissinger approached Saudi Arabia with an intriguing offer. The U.S. would guarantee
the continued security and rule of The House of Saud, if they agree to price
all oil in U.S. dollars. According to Rickards,
the arrangement soured when president Obama
initiated detente with Iran. A move he argues Saudi Arabia
saw as an act of betrayal. This coupled with other factors, the change in trade relationships, the current energy boom, and more, may spell trouble for the
U.S. dollar’s position in the wold order of cash,
so how far with the U.S. go to protect the status of the petrodollar? Some theorists such as Jerry
Robinson, WIlliam R. Clark, and F. William Engdahl,
believe protection of the petrodollar is the ultimate
cause for many recent U.S. wars. Including the invasion of Iraq and the toppling of Qaddafi and Libya. According to this idea, the
U.S. invaded Iraq in 2003, when Saddam Hussein moved
to sell oil in Euros. This remains a controversial concept, even more than a decade
later, but various quotes from government officials
seem to confirm the importance of this resource in global conflicts. As former Chairman of the Federal Reserve, Alan Greenspan wrote, I
am saddened that it is politically inconvenient to
acknowledge what everyone knows: the Iraq war is largely about oil. For years leading up to and
following the various wars, invasions, and attacks in the Middle East, the U.S. official line
has referred to stability, but stability of what? According to Rickards, Clark, and others, that’s something they
don’t want you to know. (ominous music) – [Voiceover] Prices are
going up on everything. CD’s up 12% in the past year. Food up 14%. Gasoline up 8%. At the same time,
unemployment is also high. 8% of Americans are out of work. The economy is in the dumps. Growing less than 1% a year, and seems on the verge of a recession. Citizens are protesting against
Main Street Bank & Trust. The bank has made hundreds of loans that may not be paid back. What should Americans do?

100 thoughts on “Oil, Blood and Treasure: The Petrodollar

  1. When the accord was put in each member country put gold in USA vaults. France was one country that still has not got its gold back, China demanded its gold back and the World Trade Center blew up. We have a chance to regain our money but Rothschild want to keep us under their thumb. Our USA is only 26 miles of country your state is a republican! Our military is not ours,it is the Corporation of United States!! The federal reserve owes the people of the states more than we owe the world!

  2. Great vid. It nicely illustrates the dollar's drop of the gold standard to pure fiat, then its attachment to the oil. Love it so much.

  3. maybe stuff they dont want you to know is stuff that they do want you to know to cover up stuff…..they dont want you to know!!!

  4. What is a petrodollar? And why do some analysts think Uncle Sam would go to war to preserve it?
    Say what??? oh right this must be of of those things they call a rhetorical question id say,is it! hmmm?

  5. Wow that skateboarded around everything answered absolutely nothing and could even be label siop , well , maybe , don't know , some say , could be ::: Just go main stream media guys

  6. Have to give points for the biggest scam in the world. Printing money out of nothing to purchase resources, and then have resource producing nations fund the US national debt.

    If you don't like this arrangement, they can open a few slots on the Bush Axis Of Evil list.

  7. Most of us in the UK know Blair went to war because of oil. It's why we call it Blair's oil wars. And the fact we know he's a war criminal walking around but not able to prosecute him because of his influence.

  8. A decade ago the author Michael Ruppert wrote extensively about this and predicted much of what's going on in the world today, concerning the Ukraine, Iran and Syria. His books are essential for anyone interested in a deeper look into this subject.

  9. Here are the facts: You guys doing a great job, excellent serie! And I absolutely enjoyed just about anything you guys came up with. It's well documented and most aspects of stories are covered.

    Here's where it get crazy: I'm surprised noone major has hooked you guys yet.(or have they?) And the futur can only hold positive stuff, your hard work and talent will be definitly the cause of your successes.(many of em)

    Take care and keep up good work.

  10. The IMF estimates that the bank of Libya has nearly 144 tons of gold in its vaults. In the months leading up to the UN resolution that allowed the US and its allies to send troops into Libya, Muammar al-Gaddafi was openly advocating the creation of a new currency that would rival the United States dollar and the Euro. Gaddafi called upon African and Muslim nations to join an alliance that would make this new currency, the gold dinar, their primary form of money and foreign exchange. They would sell oil and other resources to the US and the rest of the world only for gold dinars. Along with the uprising in Libya, international news channels on August/September 2011 brought several stories about Muammar Gaddafi's introduction of golden dinar within his "gold-for-oil plan" to possibly trade Libya oil on international markets.

  11. America was officially bankrupt or defaulted in 1971 when nixon took america off the gold peg and put the dollar on the petro dollar.This countries days are numbered and china/russia are gonna be the ones to bring it down and america will not do shit about it.

  12. honestly they do this stuff to ensure that we as Americans maintain a high standard of life and if that means being a bit messy I'm okay with that

  13. I don't think you can explain the petrodollar and how it came about without mentioning Nixon suspending the convertibility of dollars into gold on August 15, 1971 and how the need for the dollar to be pegged to something tangible led Kissinger to strike a deal with the Saudis and form opec. I would really like to see a second video about this where more detail is given and potential consequences for the U.S. losing the dollar as the world reserve currency. Great video otherwise!

  14. I like the Classic Style of this video. Mini Documentaries with images and voice over. Its good to occasionally see they guys behind this channel and Skully. But I prefer this for style format. KEEP UP THE GOOD WORK. Love this channel. Good research and entertaining.

  15. bioenergy is the wAy 2 go as it is muCh cheaper. if your a country just buy fossil fuel or USA will give u some deleted uranium

  16. the petrodollar is in fact the one world currency. u need it 2 fuel the weapons they sell 2 everybody else. ask the OPEC nations like Iraq & Libya

  17. The YouTube highlight of my week. I learn something new with every video. I'm am much more conscientious about the world now, thanks to you guys. Keep them going.

  18. Great report, Here's a bit more
    This year Russia,China,North Korea,Greece being the latest, And other nations signed an agreement known as the (Brick agreementor Brick nations . They would trade amongst themselves Oil and Natural gas,But in gold . since that agreement there have been a number of mishaps .Tanker trucks exploding petro chemical plants blowing up, Like the last four in china. not to mention Russia's explosive problems. So it seems to me that someone is trying to stop there agreement. and keep them on the petro dollar.

  19. How in the hell is this a conspiracy?? o_0 This was basically just the story of the USD as the world's reserve currency… Actually, in my opinion, it's disingenuous to even present this as a potential conspiracy theory. Shame on you guys -_-

  20. petro dollar cycle is very important to America ..more important than anyone could imagine …BRICS Nations are dropping the dollar and trying to convince other countries to do the same
    in Washington this is seen as a act of war and as a result we see actual war in countries freindly to russia such as Syria and the drop in price of oil a clear tool to be used to hurt russia many games mostly economic and strategic tactics such as the conflict in Ukraine are done with careful planning and a sense of delicate moves
    less powerful countries such as iraq and lybia are simply messed up to discourage the free thought of free market trading without the American dollar
    what we see on the media is usually the cover story that gives America the justification to do what it does …its allies play along because they are promised protection and are dragging into most conflicts like a dog on a leash
    lets look at recent events that justify my theory
    we have the world crying over isis and a acceptance that they should be wiped off the map …yet countries such as iran offer help and are told to sit down
    russia also admitted it will be supporting Assad and send military equipment so it could be used against all factions against Assad wich means isis and the rest
    and we have America going against this help so you must question yourself …how important is the destruction of isis to America
    obviously not that important
    what is important is the fall of Assad another allied country to russia
    this is why the conflict here and in Ukraine has been going on for so long

  21. the fact they don't want you to know is that at the back of your head you already know what's wrong in the world but they bombard you with colorfull shows to get your attention out of reality

  22. Absolutely they would go to war. Would do you think their issue with Iran is? Nuclear weapons? There hasn't even been scientist or officials to step into the country to see if they are trying to make Nuclear Weapons. Also to make nuclear weapons and getting nuclear power are pretty similar until the last steps. Iran hasn't gone to war with anyone since the 1700's. But they are currently trying to create their own means of selling oil with out selling it through the American dollars. Oh ya, another thing that America is interested with them apart from their alleged desire to make nuclear warheads… they sit on the 3rd largest oil reserve in the world.

  23. All you 'conspiracy nuts' out there.

    This is the stuff you need to be putting your effort into researching! We need crazily intelligent researchers such as yourself!

    Let me let you in on a little conspiracy theory of my own…

    All the stuff about reptillian shapeshifters from another dimension and Alien motherships and any of the million other theories out there is just a distraction. You see, the forces that run this little ball figured out a long time ago that humanitys trait, as a species, is puzzle solving (Or connecting the dots, seeing patterns). Therefore, any large scale global conspiracy would inevitably be discovered by some inquisitive researcher or another.

    To counteract this, a million storys were released, with breadcrumb trails leading to dead ends to keep all those inquisitive little people distracted from what was actually going on.

    To conclude, let me put this to you;

    Does it matter if the US government is run by shapeshifting reptillians, or human psychopaths? I mean, really, we should just be focusing on getting these evil people out of a position of power, instead of spending decades studying them to learn thier transdimensional space wizard secrets.

    Just sayin

  24. That bell ringing in the beginning of each hsw video is black magic to draw your attention in. Like night at the roxybury, 'isnt there supposed to be a bell or a buzzer?'

  25. Very disappointing !   You guys only scratched the surface….how bout at least mentioning the power of one central bank being able to print money out of thin air and exchanging it to other Nations (by force) for actual VALUABLE goods like oil, food, metals, etc…etc…SIGH at the length…but at least you brought up the PETRO DOLLAR and that's got to be worth something!

  26. I like these guys because they base their series on evidence and provide sources.

    unlike that asian dude who talks about alien ghosts and shit

  27. In the span of human existence, no empire had lasted more than 250 years, the main reason for that specific number is the urge to grow fast regardless of the ill-mannered means used for growth and development. But unfortunately, humans choose to thrive on arrogance and the US did not learn from history.

    The petrodollar will come to an end, along with the twisted debt based economy we have now sooner than later and with it, the American empire. Oil has reached its peak during the 70's and we have no more than 30 years before we completely run out of oil. I don't know why but people seem to think that earth produces oil, it doesn't, it just has a certain amount and it's decreasing at an alarming rate. Alternative energy is a joke, every other source of energy is either too weak to sustain a 7 billion population or it requires oil-based machines to extract. With everything depending on oil as an energy source for civilization, it's obvious that a world without it will become ground for disaster, especially with a population that reached this number thanks to and only to oil.

    Long story short, the next 5 decades are looking grim, for everybody, no exception. Human ego always comes into play when coming face to face with these realizations, that's why people are easily sold that we'll be here forever. Hell, if you have one atom of common sense, it'll be crazy to think that we'll be here for more than the next 100 years, let alone forever.

    But hey, it's alright, it'll be okay! the iPhone 6S will be out soon, everything is okay, everything will be okay. Right?

  28. Wage a war for it? Not only that they kill babies for it, they topple democratic governments for it and all so that your gluttonous murican terrorist asses have enough frappacinnos and video games so you never realize you are not free.

  29. Surprising that you guys left out the fact that general petraeus spoke at a meeting where a woman who introduced him thanked him for the war in Iraq that she said was for the oil, he thanked her for the introduction…
    he never denied the war was for oil when the woman said that and they just carried on like usual

  30. America to Arabian nation's: "We will protect you, just pay us a little…. If not your country gonna be destroyed" And this is how "free" and " democratic" America works. Basically you can call it mafia.

  31. This video only scratches the surface of the Petrodollar. It's so superficial, I consider this video to be disinformation.
    Thumbs down.

  32. You should do a video how countries like El Salvador have switched their countries money to the dollar bill.. And why the U.S has supported El Salvador especially when they went through their civil war giving people asylum here..

  33. Need to transition to a biodollar system, so as to be regionally empowering, and avoid the geopolitical and other difficulties that have, over time, resulted from the global crude oil industry/economics. Could still do derivitives.. They'd just be biocrude related.

  34. You guys do great work and I really enjoy all of your material. I know I'm not alone when I say this but you guys are great enough to launch a full length documentary and although I'm no expert I have been watching documentary films almost exclusively for more than a decade and your material/format is on par if not more so with some of the best ones I have seen. Cheers!

  35. I don't understand why the video creators pad the video out with "softeners". I.e. "SOME analysts believe the US would go to war to preserve the petrodollar", and "according to Jim Rickard's STORY, Saddam planned to sell oil in Euros". WTF? These aren't mere theories or conjecture – it's well documented fact! The petrodollar is a global con which allows the US to enjoy a high standard of living at the expense of the rest of the world. Like a parasite. And to perpetuate this racket, the US has been fabricating pretenses to wage criminal wars of aggression in order to quash any countries who act in their own interests and try to circumvent the petrodollar scheme

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