Reply #11: oil and the value of the dollar

[cswriter1]

What we need to understand the rise and fall of civilizations is Youngquist books "Mineral Resources and the Destinies of Nations" and "Geo-destinies". "Geo-destinies" is best if you want info about today's economy. I think economic explanations without a geological explanation of resources are pretty lame. That is kind of like knowing how to drive a car, but knowing nothing about the mechanics. Economies rise and fall, depending on available supplies of mineral resources.

The US is where Rome was when it fell, because like Rome it has exhausted its mineral resources. Like Rome it is heavily invested in its military might, and using its military might to defend its economic interest.

The value of the dollar has been backed by oil for many years, and to be sure this continues, the US takes out leaders such as Saddam and Qaddafi because these men attempted to trade oil in another currency. Saddam got permission to trade oil in Euros, because that would have been great for the Euro, and you might have notice, the Euro countries were not in favor of the US invasion of Iraq. More recently Qaddafi was going to trade oil in his own country's currency, and the Euro and dollar people both wanted to take him out. The value of the dollar would collapse if the world stopped trading oil in dollars. It may collapse anyway, because the feds keep giving away money without charging interest, so they aren't pay enough interest to bond holders. OPEC has been dumping bonds. So far I am not aware of any economist who comprehends this stuff, so our understanding of economics is laughable.