Ghost:/Confessions of an Economic Hit Man/How the Petro Dollar was forced upon the World/Videos

This post was first published in 2012.

In the first video John Perkins tells the story how the Petro Dollar system was forced upon the world by the USA. He was one of the ”economic torpedoes” (hitmen) who ”negotiated” the deal with Saudiarabia and OPEC in the 1970:s. The story told in the three videos explains how the U.S. works to maintain and extend it´s empire.

(With my thanks to superzeke. He has written the explanation that follows below, I have just translated it at the best of my ability.)

Superzekes inlägg kan du läsa på svenska här:

You will find another  video in the end of this post.

PS. It is worth mentioning that Moammar Ghadaffi in Libya was challening the Petro dollar system when he was murdered.


Because of the disturbances in the Middle East, I thought I´d write a post about the root cause of why the U.S.  is ”meddling in the game” with such obstinacy. I have seen several talk shows and lots of news but peculiarly never the essence of the whole thing is brought up. They adress a lot of side information which per se may be interesting, but why not explain the root cause?

The root cause is what is called ”Petro Dollar”, which deals with the agreement that the United States in the early 70’s led by Saudi Arabia and OPEC that the oil that was sold would be sold in dollars. This agreement was made with the United States-led war machine that effectively ”leverage” and went out that the U.S. promised to protect Saudi Arabia’s ruler and make sure they stayed in power, provided that they made sure that all the oil was sold in dollar currency.

Then maybe you’re wondering why it is so crucial that the oil is sold in dollars. I will try to write a very simplified explanation. From that you can further develop it yourself.
So, here comes the attempt to explain …..

Imagine that there are only four countries in the world:
U.S., Saudi Arabia, Greece and Sweden.

The only country with weapons (guns, planes, bombs and so on)  is the U.S.
Sweden and Greece have natural resources in all forms.
Saudi Arabia has the vital oil that all countries need.

Since the U.S. has the weapons they can tell Saudi Arabia that they have to sell all the oil in the U.S. currency (dollars), otherwise the U.S. will simply invade  Saudi Arabia, by force of arms and kill those who do not want to sell oil in dollars.
Since Saudi Arabia knows it (and do not have weapons to defend themselves) they will sell all the oil in U.S. dollars.
This means that the only thing the U.S. needs to do to get oil for itself is to start a printing press which prints those dollars basically for free for themselves. They do not produce anything other than these pieces of paper.

Sweden and Greece also are forced to buy oil with dollars. Therefore, they must produce a lot of raw materials such as iron, wood and all kinds of food and supplies that they sell to the U.S. in order to get dollars. Only then they can buy oil.
So the only thing the U.S. needs to do is really to print banknotes. In this way the U.S gets everything they need without doing or producing anything itself. The only further they need to ensure is that they have enough firepower so they can destroy anyone who violates the Petro Dollar system. Power is thus basically built on a monopoly of violence and nothing else.

So now you probably have to figure out why the U.S. is so incredible interested to interfere in all conflicts, often in the name of peace support and reforms.
As an example, one can mention that Saddam Hussein started selling oil in currencies other than U.S. dollars and the U.S could not persuade him to return to the dollar. But now Iraqi oil is sold in U.S. dollars again. An invasion and a war was needed to ”restore order”.

If you understand the Petro Dollar system you also understand what a threat the BRICS´ countries (China, Russia, India. South Africa and Brazil) now is for the United States. This is the first time the U.S. is seriously challenged  in its very foundations. Against each other now will stand the dollar currency and the currencyBRICS countries will choose and these two currencies are backed by huge military resources on both sides, including nuclear weapons. If the U.S. dollar loses this currency war it will be the end U.S. global power.

To win against BRICS countries is quite different from Libya and Iraq (which were invaded only because the oil was sold in other currencies than dollars). These countries had no nuclear weapons (which is everything).

Note that this is the biggest threat that the U.S suffered so far.
These things will never be addressed in mainstream media but this is the essence of what is happening.

Ghost:/Challenging Global Financial Power and the “Washington Consensus”

Ghost:/BRICS Development Bank is now real

John Perkin´s official website:

Om ghostopinion

Det som är värt att veta märks av mina blogginlägg. Favoritcitat: "No man is an island, entire of itself...any man's death diminishes me, because I am involved in mankind; and therefore never send to know for whom the bell tolls; it tolls for thee." John Donne
Detta inlägg publicerades i Capitalism/Kapitalism, Internationell ekonomi, Sån är kapitalismen, USA NATO Wars and Crises, Videos & Pictures och märktes , , . Bokmärk permalänken.

En kommentar till Ghost:/Confessions of an Economic Hit Man/How the Petro Dollar was forced upon the World/Videos

  1. Pingback: Ghost:/Is This the Next President of the USA?/Video (10 seconds) | ghostalive


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