Ever since the year 2000, the United States has used a combination of overt and covert wars to eliminate any leader or country that sought to function outside the U.S. controlled petro-dollar system. And with the revelations that there were no 'weapons of mass destruction' in Iraq when former President George W. Bush used that lie to invade and assassinate Saddam Hussein, the real reasons that he sent in the military to eradicate Saddam's government once and for all were due to the fact that Hussein was in the process of selling his oil in currencies other than the dollar.
Saddam Hussein's death was then followed up a decade later when President Barack Obama and then Secretary of State Hillary Clinton covertly funded and armed Islamic rebels (terrorists) to seize control over Libya, and to kill then President Muammar Gaddafi because he was in talks with six other African leaders to create a new gold backed currency that would be used by the coalition for the sale of their own oil output.
But it would eventually take two world powers, that of Russia and China, to finally put a crack in the petro-dollar system when beginning in 2013, they signed several trade agreements that would lead up to Russia now selling its oil in both Rubles and RMB.
And on Sept. 5, the final nails may be in the process of finally ending the U.S. controlled petro-dollar system once and for all as two interesting reports involving Russia, Saudi Arabia, Iran, and Germany have OPEC on the cusp of officially ending their partnership with the dollar, and starting a new coalition led by Vladimir Putin.
But not to be out-shined by fellow OPEC member Saudi Arabia on Monday, the Islamic republic of Iran signed an agreement with German officials to open two banks which would allow oil sales to Europe be done bi-laterally in Euros instead of dollars.
It appears that the days of the petro-dollar, as well as the strict hegemony of OPEC, are now numbered, and sitting at the head of the table is the world's leading oil producer, Russia. And interestingly, perhaps this more than the face to face stare down between Putin and Obama this weekend at the G20 conference is why a warning shot, or an outright assassination attempt, was made yesterday on the Presidential car Putin normally uses when travelling around Moscow.