Quote from: Wilhelm on January 06, 2015, 12:28:17 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?

My assumption....

Because oil is the only backing for the USD.
If people buy oil in any other currency the USA gets screwed over since there is no more demand in USD.
Having control over the oil supply effectively gives control over every country requiring it.

Power == Money == Power

Not really. The USD demand has little to do with oil and more to do with products we export and buy. If you sell oil in usd, the person you bought it from sells usd and you buy usd, so the net is zero demand for usd. The country USA doesn't control oil supply except for oil we make in USA but even that is controlled by thousands of individual firms. So it doesn't help usd demand and is not controlled by the US. If anything marginal supply is controlled by opec, which the US is not a part of.