Britannia Radio

I disagree... I propose a direct link between gold removal and oil substitution and the petro dollar as a floating value thus increasing credit and inflation; and US/UK financial market supremacy.

remember the creation of the tri-lateral commission circa same time

by Rockefeller

Harold

I was up till 2 with the European Council nonsense which seemed to be a show put on to please M. Netherlands of France. Not much consensus on growth.

The dollar is not defined in terms of oil.

It is the victim of oil price movements by cartel action that destroys alternatives. The debt involves the overspend plus toxic speculation.

When the dollar was defined in terms of gold the price of gold was stable but all other products varied in price based on supply and demand.

The dollar is manipulated today by the Fed not in terms of some material good like gold or oil but adjusted supposedly to keep up growth and employment ... or for the advantage of those running the Fed.
David

David oil was substituted for gold hence the petrodollar and its restriction as to where and how the petro dollar could and can be traded. Thus also the current tensions in the banking sector when dollar supremacy threatened. Harold An interesting graph indicating how the debt mounted in the same years as the dollar came off gold and OIL quadrupled and the quadrupled in price. David