Weekly News Wrap-Up 5.10.13

Source: USAWatchDog.com
Date: 5/10/2013
by: Greg Hunter

Israel bombed Syria at the beginning of the week, and it has huge possible consequences to the U.S., Middle East and the world. The Israelis reportedly attacked multiple sites in Syria. Part of the raid was meant to destroy Iranian rockets that could strike just about anywhere in Israel. At least 100 Syrian soldiers were killed. These scud rockets are a fourth generation missile that are precision guided, carry a 1,000 pound payload and have a range of 185 miles. The Israelis are afraid of these rockets falling into the hands of Hezbollah, a terror group backed by Syria and Iran. The Iranians charge there is going to be a “crushing response.” Syria called this an “act of war.” Whatever you call it, it’s an escalation in a civil war that has already claimed the lives of 70,000 Syrians. The big problem is going to be payback and implications of this turning into a wider Middle East war and possibly world war. Russia, China and Iran back Syria. The U.S. and its allies back the rebels that have ties to al-Qaeda–also a terror group.
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“THE COMING COLLAPSE OF THE PETRODOLLAR SYSTEM” BY JERRY ROBINSON

Source: Follow the Money
by: Jerry Robinson

[Editor's Note: Learn about a key aspect of our economic system that perhaps is not emphasized enough in its importance.  After the collapse of the Bretton Woods agreement and the gold standard, a scheme to prop up the U.S. dollar was devised and sold to the Arab nations by the Nixon administration.  In 1973 Henry Kissinger was sent over to negotiate this deal with the Saudis in which it was agreed that Saudi Arabia would trade her oil only in US dollars.  In return the Saudis received weapons and protection from the United States.  The OPEC nations by 1975 had followed suit...]

FOR THE DETAILS, READ JERRY ROBINSON'S POWERFUL NEW ARTICLE SERIES HERE

ARTICLE 1: Preparing for the Collapse of the Petrodollar System

ARTICLE 2: The Rise of the Petrodollar System

ARTICLE 3: The Petrodollar Wars: The Iraq Petrodollar Connection

ARTICLE 4: The Petrodollar Wars: The Afghanistan War and the "New" Great Game

(Video) U of I College of Law Professor (and Harvard Fellow) Dr. Francis Boyle discusses the implications of a war with Syria and Iran

Source: Infowars Nightly News
Date: 2/10/2012


Dr. Francis Boyle, professor from the University of Illinois College of Law (and Harvard Fellow) joins nationally syndicated radio talk show host Alex Jones to discuss the geopolitical implications of a potential war with Syria and Iran.

Here is Dr. Boyle's impressive bio taken straight from his U of I faculty page: http://www.law.illinois.edu/faculty/profile/FrancisBoyle

Will Iran Kill the Petrodollar?

Source: Casey Research
Date: January 25, 2012 7:46pm GMT
by: Marin Katusa, Chief Energy Investment Strategist

The official line from the United States and the European Union is that Tehran must be punished for continuing its efforts to develop a nuclear weapon. The punishment: sanctions on Iran's oil exports, which are meant to isolate Iran and depress the value of its currency to such a point that the country crumbles.
But that line doesn't make sense, and the sanctions will not achieve their goals. Iran is far from isolated and its friends – like India – will stand by the oil-producing nation until the US either backs down or acknowledges the real matter at hand. That matter is the American dollar and its role as the global reserve currency.

The short version of the story is that a 1970s deal cemented the US dollar as the only currency to buy and sell crude oil, and from that monopoly on the all-important oil trade the US dollar slowly but surely became the reserve currency for global trades in most commodities and goods. Massive demand for US dollars ensued, pushing the dollar's value up, up, and away. In addition, countries stored their excess US dollars savings in US Treasuries, giving the US government a vast pool of credit from which to draw.
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