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Wednesday, February 23, 2011

Pod cast explains the price of oil and what is going to happen

A unique monetary arrangement was formalized in June 1974 by Secretary of State Henry Kissinger, establishing the U.S.-Saudi Arabian Joint Commission on Economic Cooperation. The U.S. Treasury and the New York Federal Reserve would ‘allow’ the Saudi central bank to buy U.S. Treasury bonds with Saudi petrodollars. Likewise, London banks would handle eurozone-based international oil transactions, loan these revenue via “Eurobonds” to oil importing countries. The debt and interest from these loans would then flow to the dollar denominated payments to the International Monetary Fund (IMF), thereby completing the recycling of surplus petrodollars back to the Federal Reserve.

Lindsey Williams returns to follow up on information he revealed about the price of oil and Middle East turmoil on the Alex Jones Show This pod cast explains the price of oil and what is going to happen.

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