- Wikipedia: Energy crisis
On 6 October 1973, Egypt, Syria and other Arab States began the Jom-Kippur war. They wanted to reclaim the territories they had been buried by Israel, which they had lost in 1967.
- 6. October 1973 – (Yom Kippur, the highest Jewish holiday), Egypt and Syria attacked at the same time Israel. This was the beginning of the fourth and fiercest Arab-Israelite. Egyptian President Assad urged Saudi king Faisal to use the “oil weapon” against the United States because of their close cooperation with Israel.
- October 1973 – Iran and five other gulf states including Saudi Arabia announced that they would increase the price of Oil by 70 per cent.
- 17. October 1973 – oil Ministers decided to impose a limited embargo:
- The first step is to reduce oil production by 5 percent.
- Each additional month a reduction of 5 percent each.
- October 1973 – President Nixon asked Congress to grant aid to Israel in the amount of $ 2.2 billion.
- October 1973 – Saudi Arabia and other arab oil producing countries stopped their deliveries of oil to the United States completely. The experience of the oil embargo made the US leaders clear that Saudi Arabia held a strategically important position.
- March 1974 – the oil Embargo ended.
This oil price shock has led to an increase in short-time Work, unemployment and company inflation in the industrial Nations. It became clear how important Oil is now for industrial Nations.
A clever deal was negotiated in secret negotiations between the US and the then largest oil Producer Saudi Arabia.
A secret agreement was concluded that gave the us Dollar more Power and gave it a renewed material reference value, the Oil:
- The Saudi’s ruling house make sure that all the oil that OPEC sells transacts only in US dollars.
- The surplus of Saudis oil sales had to be invested in US government bonds.
- The United States, in turn, undertook to buy oil mainly from the Saudis.
- The US also committed itself to protecting the Saudi ruler’s house from its enemies (Israel, Syria, Iran) and to equip it with state-of-the-art weapons technology.
In the following years, US companies have catapulted the entire infrastructure of the Kingdom of Saudi Arabia into the modern era and earned it brilliantly.
A large military base in Saudi Arabia brought another geostrategic advantage to USA.
All nations, who now wanted to buy Oil from the OPEC, had to buy first paid US Dollars.
The US government finances have been improved and the US arms industry has received a new major customer.
The oil as a reference value to US dollar is of course only an emergency solution. Oil is very important for all industrial nations. However, it is not clear how much of this is found and whether MoneyMonarchy gets control over all of it in order to be able to control the worldwide delivery quantity.
At present, Russia, Iran, Venezuela and China are the biggest enemies of the US MoneyMonarchy, because they jeopardize the oil standard of the US dollar and thus jeopardize the Dollar as the leading currency.
This is the main cause for all the wars and unrests all over the world.