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Obama economist report a 1.7 % GDP growth when actual number is -6.7% and get this
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Useless Cookie Eater |
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I just cannot even believe Arabs are stupid enough to except our currency for oil?
Quoting: Anonymous Coward 44377051 The word is ACCEPT....not EXCEPT. That said.... they accept our currency for oil because it was a signed a deal during the Nixon administration.The company is called ARAMCO and was part of what made up Standard Oil and it's many components MANY years before Nixon. It gave the USA cheap "petro-dollars" in a deal with the Saudis. (aka....cheap money) It's also part of the reason why Nixon took the USA off the Gold Standard. Oil, God, and Gold: The Story of Aramco and the Saudi Kings [ link to www.amazon.com] The petro dollar, the real reason for the wars. That was part of the Saudi deal as well....protecting the oil reserves.
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