The True Economic Stakes Over Venezuela: Oil, Gold, Currency, Sovereignty

It’s not enough to emphasize that the West wants regime change in Venezuela because of its oil!  That’s a given.  What’s not discussed is what the oil is wanted for.  What Maduro’s Venezuela and its allies Russia, China, Turkey & others are doing is inventing new means for pricing, trading & investing oil, along with other valuable natural resources like gold, and doing so away from the US dollar.  What that in turn could eventually do is unravel a global fiscal house of cards, tied together by the strange bedfellows of reserve currency confidence and endless mounds of debt, which would make the 2008 Financial Crisis look like merely failing to advance in a game of Dragon’s Lair circa 1983.  Yes, I like ‘80s references.

From the view of the US & its transatlantic allies, the current global monetary system, which is based on the US dollar as reserve currency and energy pricing & trading standard, cannot tolerate a shift away from dollar pricing & trading of oil without sustaining cataclysmic effects upon the US, UK, EU & Japanese economies.  The ability of the US to perennially borrow from itself to finance its deficits cannot sustain were oil somehow to be sustainably priced in nondollar terms, as the dollar’s global reserve currency status would then effectively be called into question, especially considering the obscene levels of public & private debts plaguing the western banking system.  Nations such as Venezuela, China, Russia, India, Japan, Germany, Venezuela, Turkey, Iran and others know this & are trying to plan around it, and Caracas is one testing ground.  Hence the frantic haste in Washington for removing Maduro by any means necessary.

In this 39^th episode of Money & Fear, we’ll explore what the corporate won’t – the tight links between economics & geopolitics when it comes to oil, gold, currencies, the Washington Consensus, and nations seeking increasingly to duck said Consensus.  No, world affairs can’t be reduced to simple ‘good guy/bad guy’ narratives, which the mainstream press is otherwise tasked with feeding to you.  This edition will slip you another secret manila envelope in that darkened garage…

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Show Notes

Venezuela’s Crisis Threatens U.S. Control Over Oil Prices

Venezuela Oil Company PdVSA Given Until April 28 Before Crude Oil Ban

A Dethroned Petrodollar:  Could even the US Treasury be caught off guard?