How Has the Dollar Remained

the World’s Reserve Currecy Over the Past 40 Years?

This article is copied with slight redactions and emphases from the original, which appears here:

Emphases are mine.


The Geopolitics of World War III

11.Sep.2014 | SCGSCG

The real reason Russia and Syria are being targeted right now.

(slight redactions and emphases are my own – Alexandra Bruce)

…[W]hen you see the mouthpieces of the ruling class begin to demonize a foreign country, the first question in your mind should always be “what is actually at stake here?”

For some time now Russia, China, Iran, and Syria have been in the cross hairs. Once you understand why, the events unfolding in the world right now will make much more sense.

The US dollar is a unique currency [in that it is] the only currency used to buy and sell oil on the global market.

Prior to 1971, the US dollar was bound to the gold standard, at least officially. According to the IMF, by 1966, foreign central banks held $14 billion US dollars, however the United States had only $3.2 billion in gold allocated to cover foreign holdings.

Translation: the Federal Reserve was [already] printing more money than it could actually back.

The result was rampant inflation and a general flight from the dollar.

via Neocon-NWO-WW3 The Geopolitics of World War III.