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View Diary: The PetroDollar - Why Syria? w/poll (17 comments)

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  •  And what does it have to do with Syria? (0+ / 0-)
    •  They're allies, and weakens Iran in the Saudi's (0+ / 0-)

      favor.  And thus in America's.

      But also, aside from oil, Syria has the nasty habit of having state owned banks, which American banks hate and need want to wipe out.

      They world must be open to American banks acting as middle men in the world's ability to produce their own currency without having to "borrow" back what each country must first create out of thin air.

      •  Half of the countries in the world have state (0+ / 0-)

        owned banks. Why no one bombed North Dakota for it yet? You're just coming up with new reasons after the old ones are shown to be inadequate. That's trying to fit the facts to match your conclusion.

        •  Half the countries? No, only a small handful. (0+ / 0-)

          Russia and china being the big ones.

          Iraq before the war, Iran, Syria, Libya before the war, and maybe a few others.

          India does.

        •  Dakota: that's Not a national bank, and can not (0+ / 0-)

          Self fund.

          It has to get dollars as a currency user.

          Greece has to get euros as a currency user.

          But the ECB creates them out of thin air.

          Like Britain, Japan, china, etc

          Syria, having a national bank, spends their currency into existence, like The US Treasury spends coins into existence.

          But the US Treasury must borrow dollars into existence.  So it creates dollars only to borrow them back, at interest.

          Not so for Syria.

          So, Syria stays independent of the bank of international settlements, Some IMF rules, etc

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