Has MIC replaced Gold ?Submitted by Bonhomme Richard on Fri, 11/14/2008 - 11:04
Once the dollar was backed by Gold, then after WW II, Roosevelt made a deal with MENA leaders to back their regimes as long as they bought oil for dollars. Thus, world hegemony of the dollar. Oil-dollar replaced gold.
Then a couple smart Arabs, Saddam Hussein and Aminijad wanted Euros. Lol, we all know what happened, don't we ? The U.S. Military told them what currency buys oil.
Chavez, is next, wanting Euros and Yen for oil, not dollars ! The Marines didn't buy $296 million worth of upgraded turbo-diesel engine WW II style open jeeps paying $100,000 apiece for desert warfare, they bought them for the Andes.
Did the Military Industrial Complex (MIC) replace Gold ?