Quote from: btc_n_economics on January 06, 2015, 12:16:22 AM

Quote from: spazzdla on January 05, 2015, 05:27:53 PM

Alright, why does any country that attempts to sell oil for anything but USD get bombed back into the stone age?

I'm not familiar with any countries that this happened to? Countries are free to transact in any fx they like. They choose the USD because of reasons posted in my previous post. Mainly, it's stable and widely accepted.

LOL. Childish nonsense. Look at the countries that the United States has wrecked in the immediate past (Iraq, Libya), and is currently rattling its sword against in one form or another (Iran, Syria, Russia, China, Venezuela). All have either attempted to start their own oil bourses, or have threatened to begin transacting for oil in other currencies. The only exception to this rule in recent history is Afghanistan, which is not a major oil consumer/producer, and was invaded for other geopolitical/strategic/economic reasons.

Military might and nuclear arsenal aside, the petrodollar is the engine of America's global economic domination. It essentially creates an endless loop of demand for U.S. dollars and U.S. debt, which allows the United States to print money endlessly, export its inflation abroad, and smash foreign economies on a whim by tinkering with oil prices, interest rates, and the overall U.S. money supply. Foreign countries, with no other choice but to obtain U.S. dollars in order to purchase the world's most precious commodity (oil), are forced to play this hopelessly rigged game.