A PetroRuble Now Competes with a PetroDollar |
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Ellen Brown and Quinton Hennigh are this week’s guests on the program.
By design Americans are kept in the dark about money. We are taught nothing in our classrooms about what it is or how it is created. That is by design because as Henry Ford once said, “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” In fact, the mystery of money has become greater since 1971 because the dollar used for international trade was debased by Nixon when he no longer allowed the convertibility of the dollar into gold at $35 per ounce. That made the dollar the world’s reserve currency but only because the U.S. has used its military might to enforce an initial agreement with Saudi Arabia that the world would pay for imported oil only with U.S. dollars.
In 1999 the euro began to erode the dollar’s dominance. But now the U.S. got a new and much larger threat to its global currency dominance when Russia responded to sanctions launched against it after the Ukrainian war. In March 2022 Putin did what Nixon did in 1971. He demanded payment in rubles or gold from “unfriendly” countries that wish to buy natural gas from Russia. Unless large parts of Europe don’t care if they freeze to death or don’t mind heading into an economic depression, Russia has given many European countries a deal they simply can’t refuse.
Ellen Brown will walk us through the history of the 1970s creation of the Petrodollar and the events leading up to the March 2022 creation of the PetroRuble and what the demise of the U.S. dollar’s dominance is likely to mean for the financial status of Americans. Quinton will update us on Lion One Metals as that company is moving toward start-up production even as it continues to expand its very high grade alkaline gold deposit in Fiji. |
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Ellen Brown is an American author, political candidate, attorney, public speaker, and advocate of alternative medicine and financial reform, most prominently public banking. Brown is the founder and chairman of the Public Banking Institute, a nonpartisan think tank devoted to the creation of publicly run banks. She is also the president of Third Millennium Press, and is the author of thirteen books, including Web of Debt and The Public Bank Solution, as well as over 300 published articles, appearing in the New York Times, Huffington Post, Common Dreams, Truthout, Asia Times, Global Research, OpEdNews, Alternet, Truthdig, Counterpunch and elsewhere.
Her most recent book, published in 2019, is Banking on the People: Democratizing Money in the Digital Age.
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Quinton Hennigh is a member of the Crescat Capital management team and a director. He serves Crescat as the firm’s geologic and technical advisor. He is a globally renowned exploration geologist with 30+ years of precious metals mining experience. Dr. Hennigh began his career in gold exploration after obtaining his PhD in Geology/Geochemistry from the Colorado School of Mines. Early in his career he worked for major gold mining companies including Homestake Mining (now Barrick Gold Corp.), Newcrest Mining, and Newmont Corp. Later, Dr. Hennigh founded Novo Resources Corp (TSXV: NVO), acting as its CEO and currently serving as Non-Executive Co-Chairman. He has played a key role in major global discoveries such as Novo’s Pilbara assets in Western Australia, First Mining Gold’s Springpole gold deposit in Ontario, Kirkland Lake Gold’s Fostervillegold mine in Australia, the Rattlesnake Hills gold deposit in Wyoming, and Lion One’s Tuvatu gold project in Fiji, among many others. |
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Jay Taylor Taylor Hard Money Advisors, Inc 718-457-1426 |
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