Telesur English: Venezuela Drops Petrodollars, Threatens US Global Power

Venezuela this week officially stopped using the petrodollar. In this short clip from Telesur English’s Breaking the Chains, they explain why this is important, and may result in very aggressive action by the US to force the Venezuelans to return to using it. Forcing the other countries in the world to pay for their oil in dollars allows the US to export its currency around the world. This allows it to refinance its debt, and import other countries goods at very low prices. If the other countries stop using the petrodollar, it becomes a severe blow to US global domination. The report states that America has been accused of using extreme measures, from assassination to war, to force the world’s nations to use their national currency as the international medium for purchasing oil.

Looking through some of the other videos on YouTube on this subject, it seems that Venezuela isn’t alone. Other countries also would like to jettison the petrodollar. These include the BRICS nations and Iran. I got the impression from reading Greg Palast’s Armed Madhouse, on George Dubya and the Iraq invasion, that this was partly caused by Saddam Hussein threatening to jettison the petrodollar. American couldn’t possibly allow that. If it did, and other nations followed suit, then America’s economic domination of the world would be smashed, and the recession the country’s experiencing would become much, much worse.

I therefore seems to me that the threats Trump made against Iran and Venezuela have nothing to do with the nature of those countries’ regimes. America has propped up numberless Fascist dictators and mass-murderers around the world with no qualms whatsoever, so long as they support America and America’s corporate interests. What frightens America is when other countries don’t accede to its corporate demands. And then it does invade – look at the overthrow of Jacobo Arbenz’s government in Guatemala. This was overthrown in the 1950s because Arbenz, a democratic Socialist who wanted to help the peons working the banana plantations, nationalized them. Many of them were owned by the US United Fruit Company, and so the US invaded, and then justified it through propaganda which claimed, quite falsely, that Arbenz was a Communist. And this is only one example of many, many others. If you want a complete list, read one of William Blum’s pieces on the subject.

Trump would just love to start a war with Iran, to continue the Neocons agenda of destroying and destabilizing the other Middle Eastern states for the benefit of the Israelis and Saudis, and he’s terrified of a socialist Venezuela, or at least one that has no fear about standing up to America.

If he does decide on military action, you can expect the usual pernicious twaddle about liberating their countries from oppressive governments. They will be flat out lies. America wants to invade these nations for the same reason it invaded Iraq – to seize their oil, and whatever state and other industries American big business wants.

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