The Economic Stakes Over Venezuela: Oil, Gold, Currency, Sovereignty

… From the view of the US & its transatlantic allies, the current global monetary system, which is based on the US dollar as reserve currency and energy pricing & trading standard, cannot tolerate a shift away from dollar pricing & trading of oil without sustaining cataclysmic effects upon the US, UK, EU & Japanese economies.  The ability of the US to perennially borrow from itself to finance its deficits cannot sustain were oil somehow to be sustainably priced in nondollar terms, as the dollar’s global reserve currency status would then effectively be called into question, especially considering the obscene levels of public & private debts plaguing the western banking system.  Nations such as Venezuela, China, Russia, India, Japan, Germany, Venezuela, Turkey, Iran and others know this & are trying to plan around it, and Caracas is one testing ground.  Hence the frantic haste in Washington for removing Maduro by any means necessary….

https://www.newsbud.com/2019/02/12/the-true-economic-stakes-over-venezuela-oil-gold-currency-sovereignty/

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.