6139008-History-of-Money

Oil Dollars Fund US Trade Deficit: US Debt Versus Currency IssuedA chart of US Debt vs Government Currency in circulation, i.e. most of the currency issued floats in cyber space and verylittle is actually circulated as paper notes. This debt has been issued by the private Federal Reserve and other banks bycreating “money” from nothing, i.e. printing it or via a computer entry. This “money” is redeemable for anything thatanyone produces in the US and in some cases beyond and is acceptable for discharging debts.[edited slightly for clarity] Copyright By Richard Benson, founder of Specialty Finance Group. He can be reached atAssetBond@aol.com. The Asians remain shocked and in disbelief. Just when Japan, China, Taiwan and Hong Kong hadaccumulated enough dollars to buy oil to keep them warm for many winters, it's all over. In broad daylight, the Americanscheered as the price of oil popped up from US$30 a barrel to more than $50. Indeed, this jump in the price of oilincreases the World's daily oil consumption bill of 84 million barrels a day to $4.2 billion, from $2.5 billion (or $1.5 trilliona year from $900 billion). The World now has to shell out an additional $600 billion a year of "lucky bucks" to oilproducingcountries just to stay in motion. The bigger shock, however, is in the devaluation of dollar holdings of USTreasury debt. The rise in oil prices guarantees that the value of the US dollar will be pushed down even further, and staydown. Now that China is the No 2 oil importer and Japan is No 3 - with the rest of Asia very thirsty for oil as well - you canunderstand why the Asians must find a way to protect themselves. The US strategy for using oil to finance its deficit is, ofcourse, brilliant. America's elected officials knew that at some point those independent foreign central banks would startgetting edgy about buying more dollars to pay for the United States' war and deficits. The $650 billion trade deficit isbreathing down the dollar's neck. So which central banks can the US continue to use as the fall guys to buy the dollar?Why not the Persian Gulf oil states - but where would they get the dollars to buy US Treasuries? Well, with the Chinesepiling up dollars and growing like crazy,at some point the oil market had totighten. It was only a matter of timebefore the Chinese would start biddingup the price of oil. The Asians, therefore,are hung out to dry when the price of oilrises because they have to spend moreof their dollars on oil.Under the agreement which allowed thesetup of OPEC, all income above alimited amount must be recycled into theFederal Reserve System by acquired USTreasury Bonds and the interest earnedon those bonds must be spent on buyingproducts and services from the Military-Industrial-Congressional Complex. This isdefacto funding part of the US deficit andimperial wars (China, Japan and othersare funding the rest with the Treasurybills that they are holding). Basically,OPEC is acting as the collector of theIMPERIAL TAX! How you ask? Becauseinflation is a hidden tax and the Treasury Bonds keep depreciating in buying power; the large bond holders will never getto spend them; and all taxes reach thecoffers of the Federal Reserve SystemBank owners! The sameRothschild/Rockefeller banking/oildynasties who set up the private ownedcentral banking cartel known as theFederal Reserve which actually servestheir large commercial banks also setupOPEC to ensure that the Dollars theyprint are recycled into TreasuryBills/Bonds! As the price of oil goes up,extra money floods into the Gulfkingdoms. With the US secretary ofdefense putting troops all over theground in the Middle East, and thosenimble aircraft carriers nearby and readyto deliver the "shock and awe of suddendemocracy" to the Gulf monarchs, it's asure bet that OPEC will stash their newlyfound Asian lucky bucks into good oldAmerican Treasury notes where they arein suspension, waiting to be spent butnever spent and thus on a permanentThe Hidden History Of Money & New World Order Usury Secrets Revealed at last! Page 142