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Petro dollar & gold

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Petro dollar & gold

  1. 1. PETRODOLLAR AND GOLDGroup members:Abdul SattarBeena NazSyed GhalibImad MasoodZara NasirAnum AzharNeelum Akhtar
  2. 2. Interpretation of verse 60 of Surah al-Kahf• Where the two seas meet (the sea of practical knowledge, and the sea of divine knowledge), and that this intersection where the two overlap is where true knowledge can be found.
  3. 3. About: Sheikh Imran Hosein• Born in the Caribbean island of Trinidad in 1942.• Studied at several institutions of higher learning including the University of Karachi, the University of the West Indies, Al Azhar University and the Graduate Institute of International Relations in Switzerland.• He worked for several years as a Foreign Service Officer in the Ministry of Foreign Affairs of the Government of Trinidad and Tobago but gave up his job in 1985 to devote his life to the mission of Islam.
  4. 4. Count…
  5. 5. Count…
  6. 6. Petrodollar
  7. 7. Sheikh Imran Nazar Hosen explains,• “Oil functioning as Gold” for last 40 years Last 40 years wickedness & it‟s relation to US Dollar dominance• 1973-74 oil boycott & Shah Faisal
  8. 8. What are Petrodollars?• Petrodollar is a United States dollar earned by a country through the sale of petroleum.• Coined by Ibrahim Oweiss , a professor of economics at Georgetown University, in 1973.
  9. 9. Inestopedia explains ‘Petrodollars’• Petrodollars refers to the money that Middle Eastern countries and members of OPEC receive as revenue from Western nations and then put back into those same nations‟ banks.• For example if Libya were to receive money from the U.S. for oil and then put the money into a U.S. bank, that deposited money is referred to as petrodolalrs.
  10. 10. Petrodollar• The term, petrodollar, should not be confused with petrocurrency which refers to the actual national currency of each petroleum exporting country.• In addition to the United States petrodollar, a petrodollar can also refer to the Canadian dollar in transactions that involve the sale of Canadian oil to other nations.
  11. 11. Petro euro• A petroeuro is a petroleum trade valued in the euro as opposed to the US dollar (a petrodollar).• OPEC may choose dollar, euro, yen, or any currency providing perceived advantage, politically or economically
  12. 12. What is Petro Dollar Recycling?• Petrodollar "recycling" refers to the $ reflows to the rest of the world that result from the use oil-exporting countries (mainly OPEC countries) make of their oil receipts
  13. 13. Presentation by Saleh M. NsouliDirector, Offices in EuropeInternational Monetary FunAT the CESifo‟s International Spring ConferenceBerlin, March 230-24, 2006
  14. 14. Historical review of the term “petrodollar”
  15. 15. OPEC• Formed at a meeting held on September 14, 1960 in Baghdad, Iraq, by five Founder Members: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.• Algeria,Angola,Ecuador ,Iran ,Iraq ,Kuwait ,Libya ,Nigeria,Qatar, Saudi Arabia ,United Arab Emirates,Venezuela• OPEC is the biggest and the most successful cartel in the world.
  16. 16. • Few years later, French demanded redemption of its paper-dollar holdings in gold. But the USA rejected as it actually didnt have enough gold for the dollars it had already printed and spent all over the world, thus committing an act of bankruptcy.
  17. 17. Reserves Saudi oil Iran’s total oilreserves are the Venezuela is second with reserves arelargest in theworld, estimated total oil reserves estimated of 138to be around 264 at 172 billion billion barrelsbillion barrels, barrels at the and production25% of world oil end of 2009 amounts to 2.4reserves. million barrels per day.
  18. 18. History• Nixon Shock made USD a fiat currency posed a great threat to the US as its supremacy as a reserve currency• In 1971,US made a secret deal with the Saud‟s to keep selling the oil in US dollars and invest a certain percent in T- bills. In return, the Americans provided the Saudis with military support and special voting rights in the IMF
  19. 19. So the USA went to the Saudis and cuta deal – OPEC denominate all salesof oil in US dollars.
  20. 20. Since the agreements of 1971 and1973[1], OPEC oil is exclusivelysold in US dollars.
  21. 21. • The Americans laid out their terms. They were simple, and two-fold.• The Saudis must agree to price all of their oil sales in U.S. dollars only. (In other words, the Saudis were to refuse all other currencies, except the U.S. dollar, as payment for their oil exports.)• The Saudis would be open to investing their surplus oil proceeds in U.S. debt securities.
  22. 22. Why petro against dollar for US?• The petrodollar system has proven beneficial to the U.S. economy.• It increases global demand for U.S. dollars• It gives the United States global demand for U.S. debt securities• The ability to buy oil with a currency it can print at will.
  23. 23. Result of Petrodollar warfare: Ditchingthe Dollar for Gold• Petrodollar warfare• Consistent demand for the US Dollar• Higher budget & sustainability for US• Stronger Dollar (US)• Price of petrol is more stable
  24. 24. Concept of Foreign aid due toPetrodollar introduction• Arab oil-exporting countries also used their surpluses to fund foreign aid programs, with Arab nations being one of the largest donors of foreign aid since 1973.• . The IMF also introduced a new lending facility during this period called the Oil Facility
  25. 25. Petrodollar warfare• The phrase petrodollar warfare refers to a hypothesis that one of the driving forces of United States foreign policy over recent decades[when?] has been the status of the United States dollar as the worlds dominant reserve currency and as the currency in which oil is priced.• . The term was coined by William R. Clark, who has written a book with the same title.• The phrase oil currency wars is sometimes used with the same meaning.
  26. 26. Dubai as an example of petrol’s worth
  27. 27. So come on. What are you waiting for ?You can’t let all the workers run out of a job.
  28. 28. Just keepon filling up your petrol tanks.
  29. 29. Present
  30. 30. Iraq• In 2002 Saddam Hussein decided to sell oil against euro instead of dollar.• Americans waged a war against Iraq to revert sales of oil back to dollar.
  31. 31. Libya• Wanted to replace the petrodollar against petro gold system.• Planning to introduce the gold dinar.• The gold dinar would have given middle eastern and African countries to turn around to the US dollar.
  32. 32. Iran• Iran and Russia announced they would trade using their own domestic currencies as opposed to the U.S. dollar.• India‟s choice to pay for Iranian oil with gold will push gold even higher while keeping the value of the dollar on a steady decline.• Iran’s total oil reserves are estimated of 138 billion barrels and production amounts to 2.4 million barrels per day.
  33. 33. Iran & Venezuela joins hands together
  34. 34. Venezuela
  35. 35. Iranian Oil Bourse“This notion that the United States is getting ready to attack Iran is simply ridiculous ...Having said that, all options are on the table.”– President George W. Bush, February 2005 Military operations against Iran relate to the macroeconomics of „petrodollar recycling‟ and the unpublicized but real challenge to U.S. dollar supremacy from the euro as an alternative oil transaction currency.
  36. 36. India• India signed an agreement with Iran to buy oil against gold instead of US dollar.• Following the foot steps of India china also looks forward to buy oil against gold which would decrease the value of US dollar and increase the value of gold.
  37. 37. Russia• Russias gold backed currency challenged the dollar• Post cold war era.
  38. 38. Future
  39. 39. Result of Petrodollar warfare: Ditchingthe Dollar for Gold• Petrodollar warfare• Consistent demand for the US Dollar• Higher budget & sustainability for US• Stronger Dollar (US)• Price of petrol is more stable
  40. 40. 21ST CENTURY SLAVERY
  41. 41. An introduction into the internationalmonetary and economic systemenslaving the world. What lies ahead?• Shaykh Imran Hosein is a leading, world-renowned Islamic Philosopher, Scholar and author, specializing in world politics, economy, eschatology, and modern international relations. He has studied Islam, Philosophy and International Relations at several universities and institutions of higher learning, including al-Azhar University in Cairo, the University of the West Indies in Trinidad, the University of Karachi and the Aleemiyah Institute of Islamic Studies in Karachi, and the Graduate Institute of International Studies in Geneva. He is the best-selling author of Jerusalem in the Quran.• http://www.kn-ow.com/watch?v=20120121-Imran-Nazar-Hosein
  42. 42. Islam. The Petro-Dollar And Beyond• Monetary collapse• Leads to economics collapse• Masses leads to poverty & slavery
  43. 43. The Gold Dinar & Silver Dirham:Islam and the future of Money
  44. 44. World War III or Armageddon War• That will be the end of the American Empire, the end of funding for the US military and the destruction of the US economy.• The great scam is coming to an end and theres not a lot that the USA can do about it, except start another world war!!!• Wait and Watch… Only few years/months ahead.
  45. 45. References1. A New American Century? Iraq and the hidden euro-dollar wars by F. William EngdahlThe URL of this article is: http://globalresearch.ca/articles/ENG401A.html2. THE GOLD DINĀR AND SILVER DIRHAM: ISLAM AND THE FUTURE OF MONEY bySheikh Imran Nazar hosein3. Preparing for the Collapse of the Petrodollar System by Jerry Robinson4. The Rise of the Petrodollar System: "Dollars for Oil" by Jerry Robinson5. The Petrodollar Wars: The Iraq-Petrodollar Connection by Jerry Robinson6. ISLAM, THE PETRO-DOLLAR AND BEYOND by Sheikh Imran Nazar hoseinhttp://www.imranhosein.org/articles/islam-and-money/418-islam-the-petro-dollar-and-beyond.html?showall=1
  46. 46. 7. India abandons US dollar to purchase Iranian oilhttp://www.youtube.com/watch?v=6u7KnXyrKmQ8. Petrodollar Recycling And Global Imbalances Presentation bySaleh M. Nsouli1 Director, Offices in Europe International Monetary FundAt the CESifos International Spring Conference Berlin, March 23-24,2006http://www.imf.org/external/np/speeches/2006/032306a.htm9. Result of petrodollar warfare: Ditching the Dollar for GOLD! byleveragemarketers | on September 12, 2012http://www.empowernetwork.com/leveragemarketers/blog/result-of-petrodollar-warfare-ditching-the-dollar-for-gold/
  47. 47. Video Referencing1. http://www.youtube.com/watch?v=8T9ICWOYC NQ2. http://www.youtube.com/watch?v=KK6IVDtvzjk3. http://www.youtube.com/watch?v=713lC9wh4_U4. http://www.youtube.com/watch?v=wha9lTKN7Zg5. Ron Paul: The PetroDollar - Part ¼http://www.youtube.com/watch?v=SxVZ945JR5g

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