The knowledge is intentionally withheld that the EU nations use dollars, not euros, in trade among themselves, as well as with other nations. It is amazing and true. So, the dollar is not only the petro-dollar, but the official currency of international trade. The most important world trade is in oil, and until now, it has been traded in dollars. Most international debt is also denominated in dollars. The dollar is used as the chief instrument of enforcing sanctions against nations who do not follow US policy. The dollar is the Thunder Bolt of Zeus that I mentioned in my earlier posts from 2015-16.
But the exceptionality of this currency which makes the US the exceptional nation may be coming to an end. China will be trading oil in the yuan, convertible to gold. Oil nations will be able to sell their oil for the yuan on the Shanghai Exchange, avoiding dollars. The yuan will be freely exchangeable for gold. Many oil nations will flock to the “Petro-Yuan”. This new development is of great geo-economic significance. Venezuela, for instance, would be able to sell its heavy crude from Lake Maracaibo for yuan. How the US will react to this challenge remains to be revealed. Will the US react aggressively to China?
A commodity that is necessary for all life on Earth is water. Mother Nature provides us water free of charge. Fortunate are those nations or people who have an abundance of it. Those nations who feel they are powerful enough are willing to go to war to get it. The countries of the Mediterranean basin that have an abundance of water are the new republics of the former Yugoslavia. Other countries are Turkey, Lebanon, and possibly Syria because of the two rivers that flow through North East Syria from Turkey: the Euphrates and the Tigris, which touches Syria as it leaves Turkey and enters Iraq.
Countries that are water poor: Libya and Israel. Libya was intentionally destroyed in 2011, killing and sodomizing its leader, Gaddafi, in order to plunder its resources, especially its oil. Gaddafi wanted a gold dinar for all of Africa. Israel, a water-poor yet highly advanced country, whose water needs are increasing daily, needs a source of free water. Presently, Israel imports about 50% of its fresh water from Turkey. If a confrontation develops between Israel and Turkey, in the future, Turkey could shut off its water exports to Israel. De-salination is an inadequate substitute; it is also very expensive.
And so Lebanon beckons. To get the waters of Lebanon, war is inevitable. Hezbollah, whether one likes it or not, is the guardian of Lebanese independence vis a vis Israel, so war is inevitable. Israel experienced Hezbollah in 2006 war. Hezbollah is no joke.
Saudi Arabia is not a country in the normal sense of the word, because it is owned by 50,000 to 100,000 royals who take most of its oil wealth for their own personal use. But the Saudis are now in trouble. They’re losing their war in Yemen. Oil revenues are down. A confrontation with Iran looms in the distance. Internal dissension exists. The situation in the Saudi Arabia is precarious. They have pushed themselves into a Zugzwang situation. An alliance with Israel and the dismissal of the Lebanese prime minister are possibly related. The official dogma: Hezbollah and Iran have become mortal enemies of Israel and the Saudis. Big war is inevitable for water, oil, and hegemony of the Middle East and the world. The US and NATO will side with the Saudis and Israel, unconditionally; most of the rest of the world will side with the Palestinians, Hezbollah, and Iran. Will this war turn nuclear? Possibly!
The Ukraine cannot be ignored; it is on the verge of collapse. The Ukraine’s internal and external policies are totally absurd. For example, certain nationalists want to break diplomatic relations with Russia. Also, they are buying expensive anthracite hard coal from the US rather than cheaper and better quality coal from Russia or Donbass for its power plants; Ukrainians will be freezing this winter! Also they are trying to mpose the Ukrainian language on minorities such as Hungarians and Russians. Kiev will gamble war in order to save itself; it will not work.
Contrary to Main Stream Media propaganda, the US economy is not doing well. Both, debt and stocks are precariously high. The EU not much better; just ask the Greeks.
Truly, a very precarious time; very unique in history!