Iran Sanctions Kick the USA in the bollocks as Iran responds with Petro Gold system and pulls America’s pissser.
It’s almost impossible to do satire these days, the world is so insane it is impossible to use irony and exaggeration to ridicule it.
It was back in 2011 in The Daily Stirrer I started warning that American belligerence and bullying were well on the way to destroying the only thing keeping the US economy afloat, the Petrodollar.
In spite of many warnings from people who were awake to the effect that that as long as Iran was on good terms with China and Russia all the bluff and bluster of the Obama administration was only undermining the position of the USA, America continued trying to meddle in Iran’s internet affairs.
The move to dump the dollar started back in 2001, not with Iran but Iraq when Saddam Hussein began accepting payment for his country’s oil in Euros, Pounds, Australian dollars, Yen, food, etc. There has been talk since then about Iran circumventing American sanctions by circumventing SWIFT (Society for Worldwide Interbank Financial Telecommunications) agreements which stipulate oil must be paid for in US Dollars.
The Iranians took over when Saddam fell and gave impetus to the move to dump the US Dollar as the world’s reserve currency by initiating what could now be called the PETRO GOLD system. The move, on top of the economic sanctions caused great hardship, devastating inflation and civil unrest in Iran Iran has taken the hits from the sanctions but founded . It has however allowed Iran to sell oil to China, India and Japan for gold and now other oil producing nations are following suit.
The Chinese, Russians, the Arab oil states and their trading partners have been concluding private deals to trade oil and other commodities using the currency of the vendor nation.
Iran has been shipping oil in shadow (no GPS) tankers and receiving bulk shipments of grain and edibles or transfers of gold in exchange. Dubai, and several tax haven states served as the international exchange route for these deals with Turkey as a transhipment point the gold payments.
Now Iran has demonstrated the system can work without the dollar, the USA may find itself paying a high price for the arrogance of its leaders. Once the Petrodollar is out of the picture, American Presidents can no longer impose a political price on top of the normal currency exchange rate. The ride of Petrogold fits nicely into Chinas plans to replace the USA as the dominant global economy.
We should never underestimate the ability of Americans to shoot themselves in the foot. In the Bush administration the Vice President did it literally, President barack Hussein Obama does it metaphorically but no less spectacularly on a daily basis. Perhaps this is because The Rent Boy President is more concerned with gay rights, abolishing immigration controls, opening the border to Mexican drug cartels and throwing extravagant parties for Hollywood and music industry celebrities than with running the country.
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