Reply #4: this is about protecting the petrodollar

[teryang]

it was in danger of going below important support at 80. The economy of the haves and have mores is under attack. OPEC, Russia, and Iran want to trade in other currencies. Iran will tip the balance against dollar dominance since WWII. The deterioration, and decline of the US economy will become official.

This is enforcement of the value of the dollar at the point of a gun. They will stage whatever scary events and create whatever security threats they need to intimidate the oil rich sheikdoms on the gulf. Iran is on the table, the embargo, sanctions, interference with internal energy development projects are all meant (as economic warfare goes) to prevent the balance from tipped against the petrodollar.

If their desperate gambit doesn't work, they will make wilder and wilder schemes to defend the almighty petrodollar of the have-mores. That is their constituency. They have always succeeded in the past, so they assume they will succeed again. GS is in charge. Because this is the policy of the super rich, it is being blamed on neo-cons, personality traits of the dimson, incompetence, etc. There is very much a consistent logic behind the moves being made.