Guest Post: The Coming Collapse Of The Petrodollar System
Authored by Andrew McKillop,PETRODOLLAR WAR
The theory of Petrodollar Warfare can be attributed to US analyst and author William R Clarke, and his 2005 book of that title which interpreted the US-UK decision to invade Iraq in 2003. He called this an "oil currency war", but the concept of the petrodollar system and petrodollar recyling dates back to the eve of the first Oil Shock in 1973-1974. The role of the petrodollar system as a driving force of US foreign policy is explained by analysts and historians as basic to maintaining the dollar's status as the world's dominant reserve currency - and the currency in which oil is priced.http://www.zerohedge.com/news/2013-05-20/guest-post-coming-collapse-petrodollar-system
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