Saturday, January 11, 2020

Banks cause oil wars to keep away debt default

As the US uses SWIFT and Federal Reserve as weapons, it should be more obvious to all the link between oil wars and debt.

The world has $255 Trillion in debt outstanding. This a bet on future growth and earnings which depend on resources and labor being available. But one resource, oil, is much more important than the others because without oil, no transport, without transport, no economy. Every drop of oil still in the ground has debt against it, leveraged and rehypothecated many times.

The Trump administration warned Iraq this week that it risks losing access to a critical government bank account if Baghdad kicks out American forces following the U.S. airstrike that killed a top Iranian general, according to Iraqi officials.