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Northville, SD | I know of the Doomsday Deal but am not good at telling what it is. It started with Nixon. It involved The Saudis who could sell oil to us only as they could only trade in US currency which excluded the rest of the world. That's where I get very sketchy.
The Petro dollar went something like this: Every dollar we spent with the Saudis for oil they in turn had to buy bonds and I think our currency. Essentially, they were providing money to the US. There is much more detail that I listened to. I felt the information I was hearing was above my pay grade. Telling what I listened to is difficult as there so many complications. It seemed that if that deal was broken oil suppliers would no longer be committed to sell to us. Finally, if the deal was broken, we would go into hyperinflation.
Sorry I can't say more. I am thinking someone on here would know much of the details which I can't tell. | |
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Doomsday deal
