by Rory and Dave, The Daily Coin:
The past several years I have heard the US dollar being referred to as the “petro-dollar” insinuating that oil is actually what backs the dollar.
Close, but not exactly accurate. What backs the US dollar is war.
The military is the backing force for the US dollar. Saddam Hussein and Moammar Gadhafi are prime examples of what happens if you decide exchanging your oil for something other than US dollars is a good idea.
It’s not going to happen. Tomahawk missiles for everyone!! 110 Tomahawk missiles were dropped on Libya in one day. 110.
We take a look at the new SWIFT system launched, well ahead of time, by Russia and the impact that it will have on the war-dollar.
With China already applying pressure to the war-dollar via the direct currency swaps, this new system will only make the war-dollar less desirable on the global stage.
Read more about Shadow of Truth – End of the War Dollar