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The American Empire in a Changing World



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Wednesday, October 31, 2012

''World Petro War II''

From Pacific Free Press
By David Chibo

''The US’s grand strategy then became to maintain its economic supremacy which depends entirely on a strong dollar and relies on its ability to force nations to make their energy acquisitions in US dollars and invest their petrodollars in US Treasuries and ultimately US banks. The US banks then use fractional reserve banking to earns around half a trillion dollars yearly while allowing the US to run up trillions in debt. If the dollar were not backed by black-gold, then central banks throughout the world would dump it overnight.''

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