FINANCIAL BUZZ | The Dollar – Part VI

  The Dollar – Part VI By Barrio Bee   In 2001, Venezuela tried to switch to Euro for all oil sales. Within a year, there was a coup attempt. Despite the fact that the leadership was democratically elected. The U.S. was sympathetic to those who plotted against that leadership And was embarrassed by the failure of the coup. Attempts to nudge the Euro as the world’s currency – Was met with and always will be met with U.S. resistance… No surprise that the sharp fall of the dollar against the Euro was reversed. Alas…  We have the advent of […]

FINANCIAL BUZZ | The Dollar – Part V

        The Dollar – Part V By Barrio Bee   In November 2000, Saddam demanded Euros for Iraq’s oil. This arrogance was a direct threat to the dollar; Even though Iraq’s military might was not considered a threat. Still…  a major initiative of the new administration in 2001, Was to get rid of Saddam Hussein — Though there was no evidence whatsoever that Iraq posed a threat. As reported by Then-Treasury Secretary Paul O’Neill after the first cabinet meeting, This deep fear and concern of Iraq surprised Washington officials. Alas…  We have the advent of the dollar […]

FINANCIAL BUZZ | The Dollar – Part IV

            The Dollar – Part IV By Barrio Bee   As long as foreign countries accept the dollar as a medium of exchange, The U.S. comes out ahead – a benefit Congress fails to recognize. Bashing China for the positive trade balance with the U.S.– Leads to a loss of manufacturing jobs to overseas markets. The U.S. becomes more dependent on others and less self-sufficient. Foreign countries accumulate U.S. dollars due to its high savings rates; Then loan it back to us at low interest rates– To finance excessive consumption. Alas…  We have the advent […]

FINANCIAL BUZZ | The Dollar – Part III

  The Dollar – Part III By Barrio Bee         Shortly after Nixon took the world off the gold standard, OPEC agreed to price oil in U.S. dollars exclusively. This gave the dollar a special place among world currencies; In essence… The dollar was backed with oil. In return, the U.S. promised protection of the oil-rich Persian Gulf kingdoms, This ignited the radical Islamic resentment of U.S. influence in that region. It also gave the dollar artificial strength and tremendous financial benefits; The U.S. was able export its monetary inflation by buying oil at a discount. Alas… […]

FINANCIAL BUZZ | The Dollar – Part II

    The Dollar – Part II By Barrio Bee     During the late 19th century thru the early 20th century, The U.S. grew in economic and military power; Investments in foreign countries grew; European control was not tolerated. President Taft designed a policy– To protect U.S. commercial interests from the Europeans; It was claimed an official government obligation, And the “gunboats” paved the way– For the U.S. to buy influence before resorting to the threat of force. Alas…  we have the advent of “dollar diplomacy”…   Of course…  this led to a drastic change in monetary policy– Expand money supply for war […]

FINANCIAL BUZZ | The Dollar – Part I

Check out our new Consumer Buzz with Raine! Bee. The Dollar – Part I By Barrio Bee Back in the day… a fair trade required the exchange of items of perceived equal value… We all know it better as the barter system… Then along came the discovery of gold and its universal attraction… Talk about a monkey wrench… Gold was then used to facilitate the exchange of goods and services… It was even used to save for a rainy day… Eventually the concept of money developed in the marketplace… At the end of the day… he who owns the gold… […]