A documented summary review framing the potential crisis facing the United States.

Above: World Capital Flow 2005, from Armed Madhouse by Greg Palast. As you can see,  the "petro-dollar" is our number one export. the return on our long held monopoly has been enormous,  and Obama believes this monopoly is unfair.  Change this equation,  and you have excruciatingly high interest rates and a radical/negative change in our domestic circumstance 

 <<<  H Obama believes this monopoly unfairly benefits the United States and, because of that idiocy,   domestic hell has been given its wheels.  

Editor's notes:  Hussein Obama has busied himself over the past five years, with his golf game,  his social revolution against his own country,  and a comprehensive retreat from the world's stage.  We are the "balance of power" in this evil world.  Take the U.S. out of the military equation,  and you have what you see developing,  in the Middle East, Europe,  North Africa,  and parts of Asia.  But,  besides this,  there is a shift of financial power,  in the works,  orchestrated by those who would glory in the demise of this once great country  . . . . . .   and we have Obama's do-nothing, nonexistent foreign policy and his insanely naive fantasy that he can "lead from behind,"  to thank for what we see at this moment in world history.  

The following article details a very real set of concerns as to the "petro-dollar" and the end of its dominance in the world,  at large.  As it turns out,  the monopoly that is the (American) petro-dollar, is the only reason the macro-economists in this country,  have been able to finance their reckless disregard for balance between spending and debt.  

Of course,  H. Obama has no experience in finance and world related monetary power.    Worse,  he does not know what he does not know.  Couple that with an ignorant and self-serving arrogance,  and you have all that is needed for a perpetual and catastrophic shift in America's place in the world.  Progressives may talk of concern,  but this particular crisis,  will be used,  by the Far/Marxist Left to feed the "need" for more of the "fundamental transformation of the United States,"  even after this clown of a president,  is gone.  And on that count - that he will, one day,  "be gone" - we have repeated news stories of Obama taking the reins at the UN or in some other worldwide venue.  

Again, the following will help you understand what could be happening,  as we speak.  

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From The Economic Collapse Blog:  The number one American export is U.S. dollars.  It is paper currency that is backed up by absolutely nothing, but the rest of the world has been using it to trade with one another and so there is tremendous global demand for our dollars.  The linchpin of this system is the petrodollar.  For decades, if you have wanted to buy oil virtually anywhere in the world you have had to do so with U.S. dollars.  But 

if one of the biggest oil exporters on the planet, such as Saudi Arabia, decided to start accepting other currencies as payment for oil, the petrodollar monopoly would disintegrate very rapidly.  For years, everyone assumed that nothing like that would happen any time soon, but now Saudi officials are warning of a "major shift" in relations with the United States.  In fact, the Saudis are so upset at the Obama administration that "all options" are reportedly "on the table".  If it gets to the point where the Saudis decide to make a major move away from the petrodollar monopoly, it will be absolutely catastrophic for the U.S. economy.

The biggest reason why having good relations with Saudi Arabia is so important to the United States is because the petrodollar monopoly will not work without them.  For decades, Washington D.C. has gone to extraordinary lengths to keep the Saudis happy.  But now the Saudis are becoming increasingly frustrated that the U.S. military is not being used to fight their wars for them.  The following is from a recent Daily Mail report...

Upset at President Barack Obama's policies on Iran and Syria, members of Saudi Arabia's ruling family are threatening a rift with the United States that could take the alliance between Washington and the kingdom to its lowest point in years.

Saudi Arabia's intelligence chief is vowing that the kingdom will make a 'major shift' in relations with the United States to protest perceived American inaction over Syria's civil war as well as recent U.S. overtures to Iran, a source close to Saudi policy said on Tuesday.

Prince Bandar bin Sultan told European diplomats that the United States had failed to act effectively against Syrian President Bashar al-Assad and the Israeli-Palestinian conflict, was growing closer to Tehran, and had failed to back Saudi support for Bahrain when it crushed an anti-government revolt in 2011, the source said.

Saudi Arabia desperately wants the U.S. military to intervene in the Syrian civil war on the side of the "rebels".  This has not happened yet, and the Saudis are very upset about that.

Of course the Saudis could always go and fight their own war, but that is not the way that the Saudis do things.

So since the Saudis are not getting their way, they are threatening to punish the U.S. for their inaction.  According to Reuters, the Saudis are saying that "all options are on the table now"...

Saudi Arabia, the world's biggest oil exporter, ploughs much of its earnings back into U.S. assets. Most of the Saudi central bank's net foreign assets of $690 billion are thought to be denominated in dollars, much of them in U.S. Treasury bonds.

"All options are on the table now, and for sure there will be some impact," the Saudi source said.

Sadly, most Americans have absolutely no idea how important all of this is.  If the Saudis break the petrodollar monopoly, it would severely damage the U.S. economy.  For those that do not fully understand the importance of the petrodollar, the following is a good summary of how the petrodollar works from an article by Christopher Doran...

In a nutshell, any country that wants to purchase oil from an oil producing country has to do so in U.S. dollars. This is a long standing agreement within all oil exporting nations, aka OPEC, the Organization of Petroleum Exporting Countries. The UK for example, cannot simply buy oil from Saudi Arabia by exchanging British pounds. Instead, the UK must exchange its pounds for U.S. dollars. The major exception at present is, of course, Iran.

This means that every country in the world that imports oil—which is the vast majority of the world's nations—has to have immense quantities of dollars in reserve. These dollars of course are not hidden under the proverbial national mattress. They are invested. And because they are U.S. dollars, they are invested in U.S. Treasury bills and other interest bearing securities that can be easily converted to purchase dollar-priced commodities like oil. This is what has allowed the U.S. to run up trillions of dollars of debt: the rest of the world simply buys up that debt in the form of U.S. interest bearing securities.

This arrangement works out very well for the United States because we can wildly print money and run up gigantic amounts of debt and the rest of the world gobbles it all up.

In 2012, the United States ran a trade deficit of about $540,000,000,000 with the rest of the planet.  In other words, about half a trillion more dollars left the country than came into the country.  These dollars represent the number one "product" that the U.S. exports.  We make dollars and exchange them for the things that we need.  Major exporting countries (such as Saudi Arabia) take many of those dollars and "invest" them in our debt at ultra-low interest rates.  It is this system that makes our massively inflated standard of living possible.

When this system ends, the era of cheap imports and super low interest rates will be over and the "adjustment" to our standard of living will be excruciatingly painful.

And without a doubt, the day is rapidly approaching when the petrodollar monopoly will end.

Today, Russia is the number one exporter of oil in the world.

China is now the number one importer of oil in the world, and at this point they are actually importing more oil from Saudi Arabia than the United States is.

So why should Russia, China and virtually everyone else continue to be forced to use U.S. dollars to trade oil?

That is a very good question.

In fact, China has been making a whole lot of noise recently about the fact that it is time to start becoming less dependent on the U.S. dollar.  The following comes from a recent CNBC article authored by Michael Pento...

Our addictions to debt and cheap money have finally caused our major international creditors to call for an end to dollar hegemony and to push for a "de-Americanized" world.

China, the largest U.S. creditor with $1.28 trillion in Treasury bonds, recently put out a commentary through the state-run Xinhua news agency stating that, "Such alarming days when the destinies of others are in the hands of a hypocritical nation have to be terminated."

For much more on all of this, please see my previous article entitled "9 Signs That China Is Making A Move Against The U.S. Dollar". . . . . .   

All of the above from The Economic Collapse Blog.  You should know that there is much in this blog with which I disagree,  but this article is not one of those concerns.  As a research editor,  I have been reading and searching for news for nearly six years, now,  and the fear of the demise of the dollar has been raised,  a number of times.  The commentary, above,  is worth the memory.  It expresses an realistic national concern and frames the coming crisis,  if, in fact, the Saudis take a deep breathe and break alliance with the US Dollar ~ blog editor.