RE: Poverty
October 25, 2011 at 1:36 pm
(This post was last modified: October 25, 2011 at 1:40 pm by paintpooper.)
(October 25, 2011 at 1:03 pm)Jay1982 Wrote: I definitely agree with whoever said that one of the major problems is the lack of buying power on the parts of the poorest nations. I also agree that the monetary system is inherantly flawed and set up as to ensure poverty among common people and the poor. here is a small video i found last week that explains fiat money and it's flaws in 4 mins.
http://www.realnews24.com/gab_gallery/fi...4-minutes/
I agree. Oil and many commodities are sold in the dollar. So the fed can just print more money to buy an actual product without creating a product itself. Ahhhh fiat monetary system, works good for the people printing the money.
When country's like Iraq want to accept other money for the oil the US has a real problem with it. Iran is doing it as well.
In 2000, Iraq converted all its oil transactions under the Oil for Food program to euros.[2] When U.S. invaded Iraq in 2003, it returned oil sales from the euro to the USD.[3]
http://en.wikipedia.org/wiki/Petrodollar_warfare
