This Foolish Business of Oil

There is plenty of oil. If certain people wanted to, they could release enough supplies to bring the price of gas down to a dollar per gallon. Hard to believe? Well, google Lindsey Williams and see for yourself. Much of his testimony was recently verified on the Glenn Beck show by former Nixon aide Kevin Phillips. So, why don’t the Powers That Be allow the oil to be brought to market? That is the $64,000 question-- or in today’s inflated dollars-- the $384,000 question.

In Alaska one doesn’t have to go drilling in the environmentally protected region of ANWR to retrieve all the oil we need. There are huge reserves, as large as those in Saudi Arabia, along the North Slope, Prudhoe Bay and around Gull Island. If this is the reality, then one would naturally wonder why we aren’t drilling there now. There is a reason, and it involves the old nemesis of the Money Changers.

Put simply, we find ourselves in this predicament because securing an external support for our debt-based monetary system is more important than providing Americans with cheap oil. At least that’s the issue proving to be more important to certain interests currently involved in manipulating the dollar.

In 1971, for various reasons, Nixon took us off the gold standard. Since that time our currency has floated more or less freely as determined by market forces. Expanding the money supply was part of the plan, thus making the dollar the de facto currency of the world. But, each time our Central Bank (the Federal Reserve) has desired to inflate the dollar- as it must inherently do- they find themselves in need of more and more folks to buy the necessary U.S. debt that underwrites its creation.

What most people don’t realize is that: for every new dollar that comes into existence there’s an additional dollar plus interest in debt that comes attached. With this understanding you now know why it is impossible for us to ever eliminate our national debt. To do so, would be to effectively extinguish the very existence of our money. In fact, there doesn’t even exist enough currency in the world to pay off our debt if we wanted to. Think about that astonishing truth for a second.

So, to enlarge the game and entice foreign investors to buy our taxpayer-backed, “government securities,” former Sect. of State Henry Kissinger made a fateful trip to the Mideast in the early 70s to work out an arrangement.

As the story goes, Henry offered the OPEC Nations a deal they couldn’t refuse. They would become rich beyond their wildest dreams if they did two things: (1) denominate the selling of their oil on the world market in dollars; and, (2) buy our national debt. In exchange, we promised to buy oil from them in huge quantities. Naturally, if we ever stopped buying their oil in sufficient amounts because we decided to use our own oil, they’d be free to use another currency and stop buying the debt we need to keep our economy afloat.

The euro stands now as the best candidate to one day overthrow the dollar as the currency of choice for the global economy. Of course, if that happens the ever-expanding debt-based dollar will begin its inevitable and catastrophic decline. What the bank interests have done is create a bubble of unsustainable inflation, coupled with debt obligations that must ultimately do one of two things. Either it will grow and spread its virus around the globe until it infects every economy with its doomsday malignancy, or it will lose value precipitously as the nations of the world wise-up and opt for a better, more stable currency for their wealth holdings. It’s interesting to note that Iran has been hinting of late that they may soon begin selling their anticipated, new oil production in euros.

The game now all turns on one principle factor. Many modern economies outside the U.S. have geared their industries almost completely towards satisfying American consumers. Therefore, they are dependent upon a large export business, which necessarily relies upon a relatively weak euro. The minute investors start fleeing the dollar for a stronger, non-inflationary euro the exchange rate becomes unfavorable to their export business. As a result, proponents of a strong euro back down thereby prolonging the dollar’s final Judgment Day. The good news, if there is any, is that we get to import their tangible assets of real value with cheaper and cheaper dollars. One day, however, this speculative swindle of “shaving the shekel” will ultimately, and justly, come to a merciful end.

To further understand the corrupting “debt virus” problem of our dollar visit MoneyMasters.com and click on the Milton Friedman-endorsed Monetary Reform Act. It’s the only solution that can reasonably save our economic future. (send comments to WFC83197@aol.com, or mail to POB 114, Jacksboro, TN 37757)