Slowly people are waking up to the real reason why the US is deeply in debt. Why credit is being contracted and money is being printed. Why austerity won’t help and the economy can not be egged on by financial means, only by the creation of energy resouces. People are starting to aknowledge jobs are no more than excuses to churn oil, machines do all the work and feeding them with oil requires the creation of credit, in turn requiring asset booms, and busts. Charles Hugh writes about the carbon/credit system today (although he may not be aware of it yet)
"Oil and finance are inextricably linked, for as long as the US (Fed) prints dollars, and exporters accept them in trade for physical oil,
then the US is able to effectively act as if it still has lots of cheap oil, for in a real sense, it does as long as it can trade paper for oil."
Ok Charles, now a bit further. Do you think these countries like to trade their oil for dollars? What do those dollars mean to them? It is paper Charles. it is worthless paper in return for productive capactity, a forced trade if ever there was one. But he does reference a writer explaining what I explained a long time ago, that Nixon closed the gold window and replaced gold reward with Israels nuclear threat. What other deterrent was there for the Saudies to fear and hand over their oil. Of course they where also bribed, dumb clan members where selected to waste thier wealth in egotistic ways. It is highly plausible the banking system was instrumental in dislodging the US gold standard to such an extent that it had to be removed, just like they now rough up the european treasury markets in order to dislodge sovereign assets to hand them over to the Chinese. Who gave Israel those warheads by the way? From then on oil was bought with ‘credit’, and ‘debt’ as a result symbolizes burned oil. US debt can readily be observed as CO2 in our atmosphere. The world is literally being crushed and it’s ecosystem is vanishing as a result of the US carbon/credit system. Lesson learned : It is the biggest mistake to give control over the money supply to anybody but the sovereign leadership of countries.
Charles is still skirting the issue though, as he claims
"Printing money for oil may well be the initial Devil’s Pact that started the U.S. down the road to its present addiction to debt,
money-printing and "cheap" oil imported from elsewhere and paid for with paper money."
Come on charles, why would anyone accept those dollars? It’s the person with access to oil that can maintain his dominance. Britain got the exploration rights from old Faisal, reluctantly, and the US got them from Britain.
Oil profits are of course meaningless, because you need oil to make it worth something (it is carbon credit), they are a cut of the produce at best.
Nixon did not protect US renewable efforts, which where plentyfull until most where killed with Reagan’s rise to power.
Maybe..
A much more conjectural scenario could be that Israel made a deal with the UK and US, that if they would get involved in WOII Israel could be created through pressure of Churchill to take on the role of policing the Middle East. After the fight the US could have it’s energy out of the clutch of the European countries. Now that the Saudi fields are losing steam and Iraqi fields where bought by the Rotschilds Israel is fighting for a role. Israeli Foreign Affairs Minister Avigdor Lieberman recently suggested Israel would side with the PKK, a terrorist organization the US helps the turks to fight, in response to the deteriorated relationships between Turkey and Israel. Isreal is becoming increasingly dangerous to everyone interested in steady oil from the Middle East.