1 00:00:00,200 --> 00:00:05,520 Speaker 1: Well, well, well what is that, Gracie. Now our ears today, Matt, 2 00:00:06,760 --> 00:00:11,360 Speaker 1: this is our episode on the petro dollar, the petro 3 00:00:11,560 --> 00:00:15,280 Speaker 1: what the petro dollar. I really enjoyed this one because 4 00:00:15,400 --> 00:00:18,240 Speaker 1: it's something that gets wrapped up in the world of 5 00:00:18,920 --> 00:00:24,560 Speaker 1: conspiracy or conspiratorial allegations, but in many cases those allegations 6 00:00:24,560 --> 00:00:28,760 Speaker 1: are also true. Yeah, we're dealing with an actual cartel here, people, 7 00:00:29,160 --> 00:00:34,200 Speaker 1: a real cartel. It's maybe the first time I remember 8 00:00:34,360 --> 00:00:37,839 Speaker 1: learning what that word actually meant, what it was, and 9 00:00:38,280 --> 00:00:42,519 Speaker 1: saw the inner workings of of how, you know, different 10 00:00:43,000 --> 00:00:45,080 Speaker 1: different groups in an industry can work together to do 11 00:00:45,159 --> 00:00:50,640 Speaker 1: things like control prices, or how different state actors can 12 00:00:50,680 --> 00:00:56,240 Speaker 1: make their currency the main currency of business by requiring 13 00:00:56,840 --> 00:01:01,960 Speaker 1: certain things essentially allous boiling too much. Actually, uh, the 14 00:01:02,080 --> 00:01:07,880 Speaker 1: name petro dollar comes about because of some agreements that 15 00:01:08,000 --> 00:01:12,520 Speaker 1: oil should be mainly traded in US cash. So yeah, 16 00:01:12,959 --> 00:01:17,720 Speaker 1: you know, no paco's, no real or whatever, just the greenbacks. 17 00:01:18,000 --> 00:01:20,200 Speaker 1: And then what does that do, Like what kind of 18 00:01:20,280 --> 00:01:26,280 Speaker 1: ripple effects does that have on global politics, economies and uh, 19 00:01:26,880 --> 00:01:30,559 Speaker 1: where wars are fought and why Yeah, surely just great stuff. 20 00:01:30,840 --> 00:01:34,560 Speaker 1: There's a great effect. It's gonna be awesome. Let's dive in, 21 00:01:34,880 --> 00:01:37,240 Speaker 1: let's figure out, let's figure out this Petro dollar thing 22 00:01:38,640 --> 00:01:42,360 Speaker 1: from UFOs two ghosts and government cover ups, histories whippled 23 00:01:42,400 --> 00:01:45,960 Speaker 1: with unexplained events. You can turn back now or learn 24 00:01:46,040 --> 00:01:54,000 Speaker 1: the stuff they don't want you to now. I just 25 00:01:54,040 --> 00:01:56,800 Speaker 1: got this memo today or yesterday from the office of 26 00:01:56,840 --> 00:02:00,200 Speaker 1: the Secretary of Defense upstairs. It's a five year plan. 27 00:02:00,520 --> 00:02:03,520 Speaker 1: We're gonna take down seven countries in five years. We're 28 00:02:03,520 --> 00:02:08,160 Speaker 1: gonna start with Iraq, then Syria, Lebanon, then Libya, Somalia, Sudan, 29 00:02:08,360 --> 00:02:09,959 Speaker 1: and then we're gonna come back and get it wrong 30 00:02:10,040 --> 00:02:17,480 Speaker 1: in five years. And that is a quotation from a 31 00:02:17,560 --> 00:02:22,480 Speaker 1: gentleman named Wesley Clark, uh former NATO higher up, is 32 00:02:22,480 --> 00:02:26,200 Speaker 1: a Supreme Allied commander, and he is telling a story 33 00:02:26,320 --> 00:02:28,799 Speaker 1: about how in two thousand and one a general of 34 00:02:28,880 --> 00:02:33,040 Speaker 1: the Pentagon said this to him. And that comes as 35 00:02:33,120 --> 00:02:37,680 Speaker 1: reported via The Guardian with the journalist David Swanson. You 36 00:02:37,720 --> 00:02:39,760 Speaker 1: may have seen that clip before. I know, I had 37 00:02:39,760 --> 00:02:43,560 Speaker 1: seen it on in several places over the years of him. 38 00:02:43,600 --> 00:02:46,519 Speaker 1: He's on stage and he's discussing about how he got 39 00:02:46,560 --> 00:02:50,880 Speaker 1: this memo, and it seems to reflect what has happened 40 00:02:51,400 --> 00:02:54,120 Speaker 1: over the past several years. Oh right, and before we 41 00:02:54,160 --> 00:02:57,519 Speaker 1: get too far ahead of ourselves. Uh, you're Matt Been, 42 00:02:58,040 --> 00:03:04,840 Speaker 1: that's our super doucer. Uh null oil money Brown? Oh man, 43 00:03:05,000 --> 00:03:07,400 Speaker 1: Oh he's got oil money. Well some I'm sure at 44 00:03:07,440 --> 00:03:10,079 Speaker 1: some point, just the way the mixtape game goes, somebody's 45 00:03:10,080 --> 00:03:12,960 Speaker 1: going to call themselves oil money. It's all oil money. 46 00:03:12,960 --> 00:03:17,919 Speaker 1: But didn't didn't was it cash money records? Uh? Someone 47 00:03:18,560 --> 00:03:23,160 Speaker 1: try to start their own oil exploration. I think it 48 00:03:23,240 --> 00:03:25,280 Speaker 1: might have been Baby Williams, but don't quote me on 49 00:03:25,320 --> 00:03:29,760 Speaker 1: that anyhow. Yeah, Matt, you're here, I'm here, knows here, listeners. 50 00:03:29,800 --> 00:03:33,960 Speaker 1: Most importantly, you are here, and that makes this stuff 51 00:03:34,040 --> 00:03:37,680 Speaker 1: they don't want you to know. Today, we are talking 52 00:03:37,840 --> 00:03:41,400 Speaker 1: a little something called the petro dollar. Now, this is 53 00:03:41,400 --> 00:03:45,520 Speaker 1: a term that refers to US dollars um and it's 54 00:03:45,560 --> 00:03:48,960 Speaker 1: something that they they earned that the US currency has 55 00:03:49,000 --> 00:03:53,360 Speaker 1: earned basically through the export of oil, through our relationship 56 00:03:53,480 --> 00:03:58,160 Speaker 1: with oil. Our country's a relationship, and essentially when countries 57 00:03:58,360 --> 00:04:03,280 Speaker 1: sell oil, they're doing so at least not always, but 58 00:04:03,480 --> 00:04:06,119 Speaker 1: it is kind of a handshake deal kind of thing 59 00:04:06,200 --> 00:04:08,880 Speaker 1: that when countries are trading in oil, they're trading in 60 00:04:09,040 --> 00:04:13,800 Speaker 1: US dollars. So that might sound like a weird abstract 61 00:04:14,160 --> 00:04:18,280 Speaker 1: economic thing. Price of t in China doesn't matter to me, 62 00:04:18,440 --> 00:04:21,280 Speaker 1: Ben and Matt and know only you might be saying, so, 63 00:04:21,680 --> 00:04:25,960 Speaker 1: think of the petro dollar as similar to the gold standard. 64 00:04:26,160 --> 00:04:29,800 Speaker 1: We did a video on the gold standard. We did 65 00:04:29,839 --> 00:04:32,360 Speaker 1: we did a whole series on why gold is not 66 00:04:32,520 --> 00:04:35,400 Speaker 1: the standard anymore? Right, yeah, and why and why does 67 00:04:35,440 --> 00:04:38,360 Speaker 1: it matter? So we'll talk a little bit about that today. 68 00:04:38,839 --> 00:04:41,800 Speaker 1: This this week, we've been working on a series on 69 00:04:42,000 --> 00:04:45,000 Speaker 1: the petro dollar, and our longtime listeners will be glad 70 00:04:45,040 --> 00:04:47,080 Speaker 1: to know this is a classic episode that we have 71 00:04:47,160 --> 00:04:49,960 Speaker 1: coming out. So yes, well it's not a classic, it's 72 00:04:50,000 --> 00:04:54,359 Speaker 1: a yeah, it's interesting, it's a it's got an intro 73 00:04:54,480 --> 00:04:57,240 Speaker 1: from when we were in d C because we were 74 00:04:57,279 --> 00:05:01,320 Speaker 1: outside a Ronald Ray the Ronald Reagan Link for International Trade, 75 00:05:01,480 --> 00:05:04,640 Speaker 1: right yeah, and we just started thinking, oh, we could 76 00:05:04,640 --> 00:05:06,880 Speaker 1: talk about the petrow dollar. And a lot of times 77 00:05:06,880 --> 00:05:09,400 Speaker 1: when we have a good idea, we received a great suggestion. 78 00:05:09,839 --> 00:05:12,200 Speaker 1: We we know it's a real it's a real good 79 00:05:12,200 --> 00:05:16,240 Speaker 1: one because we're kicking ourselves for not having covered it earlier. 80 00:05:16,680 --> 00:05:19,400 Speaker 1: So this is something that took us while to get to, 81 00:05:19,839 --> 00:05:22,880 Speaker 1: but it's something a lot of people should know about. 82 00:05:22,920 --> 00:05:26,159 Speaker 1: And I'm sure that some people might find this boring. 83 00:05:26,200 --> 00:05:28,920 Speaker 1: There are some dry parts to this h and sure 84 00:05:29,000 --> 00:05:33,680 Speaker 1: some other people wish we had covered it more in depth. 85 00:05:33,839 --> 00:05:37,799 Speaker 1: And I'm sure that many of many of our listeners 86 00:05:37,839 --> 00:05:42,680 Speaker 1: out there, myself included, are we just waiting for cryptids? 87 00:05:43,200 --> 00:05:46,920 Speaker 1: But yeah, I noticed on Twitter people are excited about that. Yeah, exactly, 88 00:05:46,960 --> 00:05:49,320 Speaker 1: and thanks to everybody who wrote in with those tweets. 89 00:05:49,320 --> 00:05:52,360 Speaker 1: I think was Gavin who made the initial suggestion, and 90 00:05:52,400 --> 00:05:55,720 Speaker 1: we are on it. But for now petro dollars. So 91 00:05:56,040 --> 00:05:59,120 Speaker 1: the reason you mentioned the gold currency is because this 92 00:05:59,279 --> 00:06:03,960 Speaker 1: in the same way is petroleum in this form functions 93 00:06:03,960 --> 00:06:06,680 Speaker 1: as a way to prop up a currency, right right, Yeah, 94 00:06:06,680 --> 00:06:10,840 Speaker 1: it's tying the concept of a currency to a tangible asset. 95 00:06:11,360 --> 00:06:18,279 Speaker 1: So when other countries are using dollars to export oil, 96 00:06:18,600 --> 00:06:20,839 Speaker 1: right and you you have to give you know, a 97 00:06:20,880 --> 00:06:27,039 Speaker 1: country a payment in dollars per barrel, then you have rubles. 98 00:06:27,080 --> 00:06:29,480 Speaker 1: They say, no rubles, you have yen or run by 99 00:06:29,520 --> 00:06:32,599 Speaker 1: and they say none of that, none of that. Swiss proner. 100 00:06:32,720 --> 00:06:35,320 Speaker 1: I don't know what are some other currencies. I don't 101 00:06:35,320 --> 00:06:40,600 Speaker 1: know too many. I know the the rand, the r oh, 102 00:06:40,800 --> 00:06:43,719 Speaker 1: I learned about Brixton dollars. Have you heard of this? 103 00:06:43,839 --> 00:06:46,479 Speaker 1: What are Brixton dollars? Man? This is a local currency 104 00:06:46,800 --> 00:06:49,640 Speaker 1: in a certain section of London. I think it's Brixton. 105 00:06:49,720 --> 00:06:52,320 Speaker 1: I hope, I hope that's the correct name. But it's 106 00:06:52,320 --> 00:06:54,520 Speaker 1: just a local currency that people have started using where 107 00:06:54,600 --> 00:06:57,560 Speaker 1: you can trade in your sterling and your your pounds 108 00:06:57,560 --> 00:07:00,240 Speaker 1: and everything, and then you get these local dollars and 109 00:07:00,279 --> 00:07:03,400 Speaker 1: you can use them at There are several places that 110 00:07:03,440 --> 00:07:06,359 Speaker 1: are accept them, so they kind of they keep the 111 00:07:06,400 --> 00:07:10,080 Speaker 1: money in the area. That's part of it. That makes sense. 112 00:07:10,080 --> 00:07:12,600 Speaker 1: And I guess you if you limit the area where 113 00:07:12,600 --> 00:07:15,680 Speaker 1: those things can be used, currencies are powerful things and 114 00:07:16,280 --> 00:07:19,840 Speaker 1: and currencies are, you know, articles of faith just as 115 00:07:19,920 --> 00:07:23,680 Speaker 1: much as any religious symbol might be, because for a 116 00:07:23,720 --> 00:07:26,440 Speaker 1: long time now they have not been based on a 117 00:07:26,480 --> 00:07:29,760 Speaker 1: tangible asset and whole I can we take a tangent 118 00:07:29,800 --> 00:07:35,120 Speaker 1: real quick, Okay, So you know, for a long time, Matt, 119 00:07:35,240 --> 00:07:37,880 Speaker 1: I have been talking about bend bucks. I think I 120 00:07:37,960 --> 00:07:42,080 Speaker 1: may haven't mentioned this on the show. Every time we 121 00:07:42,160 --> 00:07:46,520 Speaker 1: look into currency, I get a little closer to actually 122 00:07:46,560 --> 00:07:54,400 Speaker 1: just printing some and using them around the office. That's 123 00:07:54,480 --> 00:07:56,680 Speaker 1: where I'm that's where I'm stuck, because they don't need 124 00:07:56,720 --> 00:07:58,960 Speaker 1: to be back by anything. It could just be my 125 00:07:59,120 --> 00:08:02,920 Speaker 1: good name, can I can I give you here? Okay? 126 00:08:02,960 --> 00:08:06,520 Speaker 1: So there is there are these things called mountain bucks 127 00:08:06,600 --> 00:08:10,520 Speaker 1: or mountain Mountain time bucks or something like that. So 128 00:08:10,560 --> 00:08:13,680 Speaker 1: it's it's another local currency used by a couple of 129 00:08:13,680 --> 00:08:18,760 Speaker 1: small communities, and it's in half hour increments. So you 130 00:08:18,840 --> 00:08:22,480 Speaker 1: could trade someone half hour half hour of your manual 131 00:08:22,560 --> 00:08:24,440 Speaker 1: labor or whatever you need, Like do you need a 132 00:08:24,520 --> 00:08:26,880 Speaker 1: human being to assist you with something? Here is half 133 00:08:26,880 --> 00:08:30,080 Speaker 1: hour in currency. I see. Okay, that makes sense because 134 00:08:30,120 --> 00:08:31,600 Speaker 1: if you think about it, and you and I have 135 00:08:31,720 --> 00:08:37,760 Speaker 1: had this conversation before, with our debate over whether Batman 136 00:08:37,840 --> 00:08:40,760 Speaker 1: has a superpower? Do you remember that, Yes, and we 137 00:08:40,880 --> 00:08:45,200 Speaker 1: decided that he doesn't really have a superpower, but he 138 00:08:45,240 --> 00:08:47,400 Speaker 1: has the closest thing you can get to a human 139 00:08:47,440 --> 00:08:50,240 Speaker 1: having a superpower in the real world. I well, I 140 00:08:50,280 --> 00:08:52,680 Speaker 1: think that Batman does have a superpower, and I hate 141 00:08:52,679 --> 00:08:55,760 Speaker 1: it when people say that he doesn't. He has a superpower, 142 00:08:56,000 --> 00:08:58,800 Speaker 1: has a superpower because he is a billionaire, right, But 143 00:08:58,840 --> 00:09:01,959 Speaker 1: it goes deeper than that. This Mountain time conversation reminds 144 00:09:01,960 --> 00:09:06,920 Speaker 1: me because money is the concept of currencies really just 145 00:09:08,400 --> 00:09:13,640 Speaker 1: a concept of human labor over time, right, So you 146 00:09:13,679 --> 00:09:18,120 Speaker 1: can build a studio like when we're now, uh, and 147 00:09:18,280 --> 00:09:21,520 Speaker 1: fabricate everything, teach yourself how to do that, take those 148 00:09:21,559 --> 00:09:26,440 Speaker 1: hours and hours and hours of craftsmanship and skill and practice. 149 00:09:27,080 --> 00:09:31,040 Speaker 1: Or you can give somebody something that they will take 150 00:09:31,080 --> 00:09:35,360 Speaker 1: in exchange for their time. So currency as a marker 151 00:09:35,400 --> 00:09:38,319 Speaker 1: of time makes less sense to me, which means that 152 00:09:38,360 --> 00:09:42,599 Speaker 1: if you have a billion dollars, essentially your time traveling, 153 00:09:42,920 --> 00:09:45,760 Speaker 1: that's what That's what it was. You're not losing decades 154 00:09:46,840 --> 00:09:50,720 Speaker 1: teaching yourself how to build a frigging bat cave, you 155 00:09:50,760 --> 00:09:53,000 Speaker 1: know what I mean, or just a microphone. And I'm 156 00:09:53,000 --> 00:09:55,920 Speaker 1: not saying that Batman is not the world's greatest detective. 157 00:09:55,960 --> 00:09:58,360 Speaker 1: Clearly that is that is the case. And I'm a 158 00:09:58,400 --> 00:10:02,560 Speaker 1: huge Batman fan. Yeah he has skills, but you know 159 00:10:02,720 --> 00:10:07,119 Speaker 1: he what what would he be if he wasn't a billionaire? 160 00:10:07,679 --> 00:10:12,640 Speaker 1: You know, yeah, he'd be just alone, Nina. It would 161 00:10:12,679 --> 00:10:15,800 Speaker 1: be tough. Uh, it would be tough, I think, to 162 00:10:15,800 --> 00:10:18,480 Speaker 1: to have the same stuff. But anyway, we're digressing a 163 00:10:18,520 --> 00:10:21,240 Speaker 1: little bit this currency stuff. As you can tell, the 164 00:10:21,320 --> 00:10:26,120 Speaker 1: listeners were very interested in this and because everybody has 165 00:10:26,200 --> 00:10:30,439 Speaker 1: to use like the petro dollar is bigger than Mountain time, 166 00:10:30,480 --> 00:10:33,360 Speaker 1: the petro dollars bigger than bend bucks, the petro dollar 167 00:10:33,679 --> 00:10:37,600 Speaker 1: is bigger than the euro so far. In fact, because 168 00:10:37,640 --> 00:10:40,840 Speaker 1: everybody has to use dollars, where had to use dollars 169 00:10:40,840 --> 00:10:43,840 Speaker 1: to buy oil, all these other countries had to keep 170 00:10:44,200 --> 00:10:47,480 Speaker 1: a stash of cash, which is very good for the US, 171 00:10:47,559 --> 00:10:49,600 Speaker 1: and it's one of the reasons that the US is 172 00:10:49,640 --> 00:10:54,120 Speaker 1: referred to as the world's reserve currency. So we have 173 00:10:54,160 --> 00:10:56,680 Speaker 1: a couple of questions. The biggest one is how how 174 00:10:56,720 --> 00:10:59,160 Speaker 1: on earth did this happen? How do we get to 175 00:10:59,200 --> 00:11:02,400 Speaker 1: the point where the US dollar is the world's currency 176 00:11:02,440 --> 00:11:05,400 Speaker 1: when you're dealing with oil? Which which which will totally 177 00:11:05,480 --> 00:11:07,920 Speaker 1: tell you. By the way, We're not just gonna leave 178 00:11:07,960 --> 00:11:11,040 Speaker 1: that one hanging. We have other questions to write, like 179 00:11:11,200 --> 00:11:15,920 Speaker 1: how long can this situation last? Yeah, is there something 180 00:11:16,920 --> 00:11:19,959 Speaker 1: in the works right now that might be, I don't know, 181 00:11:20,280 --> 00:11:23,360 Speaker 1: causing a huge change with the state of the petro dollar. 182 00:11:24,080 --> 00:11:28,319 Speaker 1: Will the US go to war to protect itself and 183 00:11:28,400 --> 00:11:34,680 Speaker 1: its petro dollar? And has it done so already? First, 184 00:11:34,960 --> 00:11:38,960 Speaker 1: let's take a let's take a trip back in history, 185 00:11:39,320 --> 00:11:48,720 Speaker 1: nor can we have the trip back in history? Sound cute? Great, well, 186 00:11:48,840 --> 00:11:50,319 Speaker 1: so I'll good to see you. Welcome back to the 187 00:11:50,400 --> 00:11:54,199 Speaker 1: nine and the Breton Woods Agreement, which officially gives the 188 00:11:54,320 --> 00:11:57,960 Speaker 1: U S a distinct financial advantage on the international sphere, 189 00:11:57,960 --> 00:12:00,160 Speaker 1: tying the dollar to a value of thirty five five 190 00:12:00,240 --> 00:12:04,120 Speaker 1: dollars per single ounce of gold, with other currencies in 191 00:12:04,160 --> 00:12:09,160 Speaker 1: the agreeing signatory countries pegged to the value of the dollar. Now, 192 00:12:09,360 --> 00:12:12,520 Speaker 1: that worked for a time, but the US essentially just 193 00:12:12,720 --> 00:12:16,360 Speaker 1: promised not to print a crapload of money. Yes, and 194 00:12:16,440 --> 00:12:19,079 Speaker 1: during the Vietnam conflict, all the countries began asking for 195 00:12:19,120 --> 00:12:21,080 Speaker 1: the gold the dollars represented, and the value of the 196 00:12:21,080 --> 00:12:23,680 Speaker 1: currency therefore decreased because you see, the U S didn't 197 00:12:23,679 --> 00:12:26,640 Speaker 1: have the gold. Then President Nixon eventually took the dollar 198 00:12:26,679 --> 00:12:29,760 Speaker 1: off the gold standard entirely and refused to convert US 199 00:12:29,880 --> 00:12:37,720 Speaker 1: currency to gold. Yes, well, in a way, defaulting quite true, 200 00:12:37,720 --> 00:12:41,520 Speaker 1: my good man. Let's head to the nineteen seventies, seventies, seventies, 201 00:12:41,559 --> 00:12:45,920 Speaker 1: seventies sevent So in the early seventies, under Nixon, Henry 202 00:12:46,000 --> 00:12:50,280 Speaker 1: Kissinger reportedly approached the House of Saud Saudi Arabia with 203 00:12:50,320 --> 00:12:54,240 Speaker 1: an intriguing proposition. He said, we'll safeguard and support your 204 00:12:54,320 --> 00:12:59,400 Speaker 1: rule over all of this, along with giving you military supplies, bullets, tanks, 205 00:12:59,440 --> 00:13:03,640 Speaker 1: anything you need in return. When you sell that sweet 206 00:13:03,679 --> 00:13:09,280 Speaker 1: sweet crude oil, you sell it in US dollars. And 207 00:13:09,679 --> 00:13:13,440 Speaker 1: this deal, for a time worked quite well. Other OPEC 208 00:13:13,559 --> 00:13:16,520 Speaker 1: countries made similar deals. You can tell we're getting closer 209 00:13:16,559 --> 00:13:20,120 Speaker 1: to the modern day because our voices are changing back. 210 00:13:20,960 --> 00:13:23,840 Speaker 1: So here's a side note. What is OPEC. You've heard 211 00:13:23,880 --> 00:13:27,920 Speaker 1: about it before, right. OPECK stands for the Organization of 212 00:13:27,920 --> 00:13:32,760 Speaker 1: the Petroleum Exporting Countries. And by all of these countries 213 00:13:32,840 --> 00:13:36,920 Speaker 1: had some form of agreement with the US. The US 214 00:13:36,960 --> 00:13:40,560 Speaker 1: will do something for you, whether by hook or by crook. 215 00:13:41,080 --> 00:13:46,600 Speaker 1: They convinced the other countries to sell oil in US dollars. 216 00:13:46,640 --> 00:13:52,520 Speaker 1: So I one of my old professors said, uh, said 217 00:13:52,559 --> 00:13:57,520 Speaker 1: a very blunt thing about OPEC. He said, OPEQ exists 218 00:13:57,720 --> 00:14:00,839 Speaker 1: to stop the flow of oil and make as much 219 00:14:00,880 --> 00:14:04,160 Speaker 1: money as possible from it. So it's kind of an 220 00:14:04,160 --> 00:14:07,679 Speaker 1: oil damn where it's it's able to control the release 221 00:14:08,679 --> 00:14:13,240 Speaker 1: like a faucet pipe. And and the reason, well, without 222 00:14:13,240 --> 00:14:16,880 Speaker 1: going into too much of the history here, which is fascinating, 223 00:14:17,000 --> 00:14:20,480 Speaker 1: you know, the reason OPEQ forms is because of the 224 00:14:20,520 --> 00:14:25,280 Speaker 1: domination of Western oil companies like Anglo American oil companies 225 00:14:25,760 --> 00:14:29,120 Speaker 1: in UH in the area. So so it's not as 226 00:14:29,160 --> 00:14:34,080 Speaker 1: if OPEC came out of the blue anyway. Once you 227 00:14:34,120 --> 00:14:36,440 Speaker 1: get OPEC on your side, right, if you're the US, 228 00:14:36,760 --> 00:14:40,880 Speaker 1: then this transaction method becomes the international standard. We talked 229 00:14:40,920 --> 00:14:44,000 Speaker 1: a little bit about why it matters because it immediately 230 00:14:44,040 --> 00:14:48,840 Speaker 1: makes every oil importing country UH thirsty for a constant 231 00:14:48,880 --> 00:14:52,560 Speaker 1: supply of US dollars. And then here's the biting and 232 00:14:52,680 --> 00:14:55,600 Speaker 1: here's the base switch. So you want those US dollars 233 00:14:55,800 --> 00:14:59,520 Speaker 1: even though they're essentially coupons on paper. Right, So for 234 00:14:59,600 --> 00:15:03,600 Speaker 1: these for these UH coupons, what people will do is 235 00:15:03,720 --> 00:15:12,680 Speaker 1: or what countries will do, is supply actual tangible goods, right, Appliances, microwaves, minerals, 236 00:15:12,680 --> 00:15:16,520 Speaker 1: food sometimes yeah, food, food importing food or something like that, 237 00:15:17,080 --> 00:15:20,920 Speaker 1: all all of these things manufactured goods, et cetera, or 238 00:15:20,960 --> 00:15:25,920 Speaker 1: exchange for these coupons. And then this boost the this 239 00:15:26,000 --> 00:15:30,400 Speaker 1: boost the value of the dollar, right, and it allows 240 00:15:31,160 --> 00:15:33,680 Speaker 1: people to it allows people to print more and the 241 00:15:33,760 --> 00:15:37,240 Speaker 1: FED to print more UH. And this cycle here of 242 00:15:37,280 --> 00:15:42,160 Speaker 1: printing money, trading for tangible assets and then also like 243 00:15:42,480 --> 00:15:47,160 Speaker 1: every time a barrel of oil is sold under this system, 244 00:15:47,200 --> 00:15:50,560 Speaker 1: it's a little bit better for the US. And that's 245 00:15:50,640 --> 00:15:55,200 Speaker 1: that's a vast oversimplification that I mean that that is 246 00:15:55,200 --> 00:16:00,280 Speaker 1: a vast over simplification. Uh, and it is. Though it 247 00:16:00,400 --> 00:16:03,600 Speaker 1: is good for the US at least, it's not particularly 248 00:16:03,600 --> 00:16:06,760 Speaker 1: great for other countries, especially other countries that don't want 249 00:16:06,840 --> 00:16:09,600 Speaker 1: to trade in what some have called, you know, uh, 250 00:16:10,200 --> 00:16:16,600 Speaker 1: monetary hegemony. Yes, now, Ben, Yes, I'm going to say 251 00:16:16,600 --> 00:16:21,480 Speaker 1: it this time. Here's where it gets crazy. How far 252 00:16:21,920 --> 00:16:27,520 Speaker 1: would the US go to protect this petro dollar regime? Now, 253 00:16:27,680 --> 00:16:30,840 Speaker 1: from what Ben and I have found, according to numerous sources, 254 00:16:31,280 --> 00:16:35,960 Speaker 1: the actual cause of many of the conflicts occurring right 255 00:16:36,000 --> 00:16:38,000 Speaker 1: now in the Middle East and historically that have been 256 00:16:38,040 --> 00:16:41,560 Speaker 1: happening there have hinged on the price of oil and 257 00:16:41,600 --> 00:16:45,600 Speaker 1: the trading of oil with the US dollar. And we 258 00:16:45,680 --> 00:16:48,720 Speaker 1: say numerous sources. Of course, what we are talking about 259 00:16:48,720 --> 00:16:53,040 Speaker 1: our theories. So they call them conspiracy theories. But I 260 00:16:53,360 --> 00:16:56,360 Speaker 1: want to be very careful and very fair with this 261 00:16:56,440 --> 00:16:59,040 Speaker 1: when we point out that this is not at all 262 00:16:59,440 --> 00:17:04,639 Speaker 1: the accepted party lie for for a lot of reasons. 263 00:17:04,640 --> 00:17:06,920 Speaker 1: So we're gonna tell you some of the things that 264 00:17:07,480 --> 00:17:11,840 Speaker 1: other that officials have said, or analysts and not just 265 00:17:11,880 --> 00:17:16,040 Speaker 1: French people, also folks like Alan Greenspan, former Chairman of 266 00:17:16,119 --> 00:17:19,960 Speaker 1: the Federal Reserved. But before we do that, we're going 267 00:17:20,000 --> 00:17:38,439 Speaker 1: to pause for a word from our sponsor. The first 268 00:17:38,560 --> 00:17:43,800 Speaker 1: of these conflicts we would like to delve into is Iraq. Now. 269 00:17:43,840 --> 00:17:47,719 Speaker 1: According to a couple of researchers, f William Ingdole and 270 00:17:48,160 --> 00:17:51,760 Speaker 1: William Clark have both of them have written books or 271 00:17:51,840 --> 00:17:56,199 Speaker 1: is this joint book? Sure yet? The the book by 272 00:17:56,280 --> 00:18:00,639 Speaker 1: William R. Clark is called Petro Dollar Warfare, Air and 273 00:18:00,880 --> 00:18:03,480 Speaker 1: the one of the that's the book we're referencing here. 274 00:18:03,600 --> 00:18:06,200 Speaker 1: And Ingall wrote a book called The Century of War, 275 00:18:06,320 --> 00:18:10,520 Speaker 1: Anglo American Oil Politics and the New World Order. These 276 00:18:10,560 --> 00:18:14,800 Speaker 1: guys are on the same page about the same page 277 00:18:14,800 --> 00:18:17,920 Speaker 1: about two thousand three lead invasion of Iraq. Yeah, they 278 00:18:17,960 --> 00:18:21,639 Speaker 1: don't believe that, at least according to the original party 279 00:18:21,680 --> 00:18:24,440 Speaker 1: line that was that was, you know, saying, well, we've 280 00:18:24,440 --> 00:18:27,360 Speaker 1: had these attacks on September eleven, two one, we're going 281 00:18:27,400 --> 00:18:31,080 Speaker 1: to go into rock because they have connections to the 282 00:18:31,280 --> 00:18:35,359 Speaker 1: terrorists that caused these attacks. They also don't believe um 283 00:18:35,400 --> 00:18:37,520 Speaker 1: that it was just for the overall safety of the 284 00:18:37,520 --> 00:18:41,720 Speaker 1: American public because they feel that we weren't, at least 285 00:18:41,720 --> 00:18:46,960 Speaker 1: on the mainland threatened by Iraq's forces. Uh. They feel 286 00:18:47,760 --> 00:18:49,679 Speaker 1: and they don't even think that it was you know, 287 00:18:49,720 --> 00:18:53,119 Speaker 1: to go in and save the Iraqi people from this dictator, 288 00:18:53,160 --> 00:18:58,680 Speaker 1: Saddam Hussein. They have another idea, right, They both claim 289 00:18:58,800 --> 00:19:04,000 Speaker 1: that the invasion was predominantly inspired by Iraq's defiance of 290 00:19:04,080 --> 00:19:08,280 Speaker 1: the petro dollar regime or petro dollar system. So here's 291 00:19:08,280 --> 00:19:11,879 Speaker 1: a quote from the Petro Dollar Warfare book. On September 292 00:19:11,920 --> 00:19:15,879 Speaker 1: two thousand, Saddam Hussein allegedly emerged from a meeting of 293 00:19:15,920 --> 00:19:19,040 Speaker 1: his government and proclaimed that Iraq would soon transition its 294 00:19:19,040 --> 00:19:24,160 Speaker 1: oil export transactions to the euro currency, so selling oil 295 00:19:24,640 --> 00:19:28,120 Speaker 1: in euros not in dollars. And I know this sounds 296 00:19:28,400 --> 00:19:33,560 Speaker 1: um fairly conspiratorial, right, and you haven't. You'll hear at 297 00:19:33,600 --> 00:19:40,639 Speaker 1: times contradicting statements from US officials regarding UH regarding the 298 00:19:40,720 --> 00:19:45,800 Speaker 1: degree to which oil as a resource influenced h instability 299 00:19:46,160 --> 00:19:51,240 Speaker 1: or invasions in the Middle East. So with with this 300 00:19:51,440 --> 00:19:55,960 Speaker 1: in mind, um, we we see that Saddam Hussein actually 301 00:19:56,040 --> 00:20:00,200 Speaker 1: did get ready to make the switch from you s 302 00:20:00,280 --> 00:20:04,119 Speaker 1: dollars to euro and by two thousand two we have 303 00:20:04,200 --> 00:20:09,960 Speaker 1: fully converted to a petro euro instead of a petro dollar. 304 00:20:10,240 --> 00:20:13,120 Speaker 1: You can speak in contradictory statements. You can also read 305 00:20:13,160 --> 00:20:17,560 Speaker 1: things by a former analyst or even officials saying that 306 00:20:18,920 --> 00:20:23,880 Speaker 1: before the events of two thousand and one, before nine eleven, 307 00:20:24,520 --> 00:20:30,360 Speaker 1: the Bush administration had already been planning to evade invade Iraq, 308 00:20:31,000 --> 00:20:35,760 Speaker 1: and that in the aftermath of UH September eleven, these 309 00:20:36,040 --> 00:20:42,440 Speaker 1: um these administration officials continually pushed other government agencies like 310 00:20:42,480 --> 00:20:46,680 Speaker 1: the CIA et cetera, to find a connection between the 311 00:20:46,920 --> 00:20:51,800 Speaker 1: Hussain government or the Hussain administration and terrorist acts in 312 00:20:52,359 --> 00:20:54,840 Speaker 1: UH September of that year, or at least make it 313 00:20:54,880 --> 00:20:58,960 Speaker 1: look as though it is threatening enough to the US populace. 314 00:20:59,200 --> 00:21:01,880 Speaker 1: Right there, there's a reason to go in, right And 315 00:21:02,040 --> 00:21:05,720 Speaker 1: on March nineteenth, two thousand three, they announced the commitment 316 00:21:05,800 --> 00:21:09,520 Speaker 1: of an invasion of a rock. You've heard a lot 317 00:21:09,560 --> 00:21:13,080 Speaker 1: of controversy about this. If you were around during that 318 00:21:13,119 --> 00:21:16,360 Speaker 1: time or listening to the news, or if you served 319 00:21:16,400 --> 00:21:20,200 Speaker 1: in the military during this time. Was the fight against 320 00:21:20,280 --> 00:21:24,760 Speaker 1: al Qaeda? Fighting terrorism? Were their weapons of mass destruction? 321 00:21:25,400 --> 00:21:30,239 Speaker 1: Wasn't promoting democracy? So for the for the people like 322 00:21:30,320 --> 00:21:33,800 Speaker 1: Clark Ken ng Doll and another guy, Jerry Robinson we'll 323 00:21:33,800 --> 00:21:36,280 Speaker 1: talk about in a little bit. This was and and 324 00:21:36,440 --> 00:21:39,760 Speaker 1: the the other people that we quote in our video. 325 00:21:40,440 --> 00:21:45,960 Speaker 1: H this was all secondary at best to a to 326 00:21:46,080 --> 00:21:51,600 Speaker 1: a mission to secure the existence of the petro dollar. 327 00:21:51,760 --> 00:21:55,080 Speaker 1: Well yeah, and also to slap the hand, right, I 328 00:21:55,080 --> 00:21:58,760 Speaker 1: mean you, And that's kind of a horrible thing to say, 329 00:21:58,800 --> 00:22:02,200 Speaker 1: but to punish the regime that would say, would stand 330 00:22:02,280 --> 00:22:05,280 Speaker 1: up to the petro dollar system. And it's got to 331 00:22:05,320 --> 00:22:10,159 Speaker 1: look strange from the outside because at different times in 332 00:22:10,200 --> 00:22:16,000 Speaker 1: recent history, the US was supporting Saddam Hussein. Washington, for 333 00:22:16,080 --> 00:22:20,080 Speaker 1: the record, denies any accusations that the Iraq War was 334 00:22:20,160 --> 00:22:24,560 Speaker 1: motivated by something other than disarming Iraq and liberating its 335 00:22:24,600 --> 00:22:27,359 Speaker 1: belieguered people. And I know that this can be a 336 00:22:27,480 --> 00:22:32,040 Speaker 1: sense of subject for folks, especially if you are related 337 00:22:32,119 --> 00:22:34,919 Speaker 1: to someone who served in the Armed forces, or if 338 00:22:34,920 --> 00:22:39,720 Speaker 1: you yourself went with the armed forces to the Middle East, 339 00:22:39,800 --> 00:22:43,840 Speaker 1: whether in Afghanistan, whether in Iraq, whether in another country 340 00:22:45,080 --> 00:22:47,760 Speaker 1: or the Gulf War, even yes Um, or even as 341 00:22:48,440 --> 00:22:51,040 Speaker 1: far back, you know, as far back as Vietnam. The 342 00:22:51,080 --> 00:22:55,080 Speaker 1: thing is, what what I think is important here is 343 00:22:55,320 --> 00:22:59,080 Speaker 1: that we be able to ask the question about the 344 00:22:59,200 --> 00:23:03,680 Speaker 1: motive aation, and we're showing you these different arguments for this. 345 00:23:04,600 --> 00:23:08,520 Speaker 1: But in my opinion, now, I know this can be 346 00:23:08,800 --> 00:23:14,000 Speaker 1: a sensitive subject. Right. War is a very political thing, 347 00:23:14,600 --> 00:23:18,600 Speaker 1: and especially if you have served in the armed forces 348 00:23:18,640 --> 00:23:22,440 Speaker 1: of your country, or if you are related to someone 349 00:23:22,560 --> 00:23:27,000 Speaker 1: or close to someone, it can seem like like a 350 00:23:27,080 --> 00:23:30,240 Speaker 1: highly again I'm going back to somewhere, a highly politicized thing. 351 00:23:31,080 --> 00:23:36,400 Speaker 1: But this is not about some sort of false dichotomy 352 00:23:36,480 --> 00:23:39,680 Speaker 1: between the left and the right. This is this is 353 00:23:39,720 --> 00:23:42,920 Speaker 1: about a question that should be asked, which is why 354 00:23:42,960 --> 00:23:46,400 Speaker 1: people were there. So I want to preemptively say if 355 00:23:46,400 --> 00:23:49,280 Speaker 1: you would like to write in and let let us 356 00:23:49,320 --> 00:23:52,639 Speaker 1: know about your experiences and what you think the motivating 357 00:23:52,680 --> 00:23:55,480 Speaker 1: factors were for the war in Iraq or for other 358 00:23:55,520 --> 00:23:58,800 Speaker 1: global conflicts, then we would like to hear it, because 359 00:23:58,800 --> 00:24:01,840 Speaker 1: one thing is for sure, the entire story hasn't been 360 00:24:01,880 --> 00:24:05,879 Speaker 1: told in an acknowledged way. And sorry for the sorry 361 00:24:05,880 --> 00:24:09,600 Speaker 1: for the tangent, Matt, no worries, man, just I just 362 00:24:09,640 --> 00:24:13,320 Speaker 1: wanna agree with pretty much everything you just said. It's 363 00:24:13,760 --> 00:24:15,679 Speaker 1: it's easy for Ben and I to sit in this 364 00:24:15,800 --> 00:24:18,919 Speaker 1: room and talk about these things. Um, but you know, 365 00:24:19,200 --> 00:24:23,080 Speaker 1: neither of us have ever served. Right. That being said, 366 00:24:23,320 --> 00:24:27,679 Speaker 1: you also hear accusations about the motivations for going to 367 00:24:27,720 --> 00:24:31,680 Speaker 1: warn the conflicts in other places, specifically in Libya in 368 00:24:31,680 --> 00:24:33,960 Speaker 1: the fall of Gaddaffi. We covered that in a couple 369 00:24:33,960 --> 00:24:37,720 Speaker 1: of videos we did. And Gadaffi is an interesting character, 370 00:24:38,160 --> 00:24:44,520 Speaker 1: I mean definitely a dictator sure, But before the NATO 371 00:24:44,600 --> 00:24:49,360 Speaker 1: operations in two thousand eleven, the Libyan Investment Authority had 372 00:24:49,400 --> 00:24:52,840 Speaker 1: like something to the tune a sixty billion dollars worth 373 00:24:52,880 --> 00:24:57,959 Speaker 1: of petro dollars Petro bucks Bucks. And since the nineteen 374 00:24:58,080 --> 00:25:04,119 Speaker 1: seventy three crisis, these these petro dollars have been recycled 375 00:25:04,160 --> 00:25:10,600 Speaker 1: through New York investment banks. So uh. We know, according 376 00:25:10,640 --> 00:25:13,760 Speaker 1: to a book by a guy named David Harvey and 377 00:25:14,000 --> 00:25:18,200 Speaker 1: A Brief History of Neoliberalism. We know from British intelligence 378 00:25:18,240 --> 00:25:21,520 Speaker 1: reports of the US was actively preparing to invade countries 379 00:25:21,560 --> 00:25:24,440 Speaker 1: to restore the flow of oil and bring down oil prices. 380 00:25:24,960 --> 00:25:27,240 Speaker 1: We also know that the Saudis agreed at the time, 381 00:25:27,280 --> 00:25:30,840 Speaker 1: presumably under military pressure, if not open threat from the US, 382 00:25:31,119 --> 00:25:34,080 Speaker 1: to recycle all of their petro dollars through New York 383 00:25:34,119 --> 00:25:39,360 Speaker 1: investment banks. Now Gadafi tried this before and didn't apparently 384 00:25:39,359 --> 00:25:45,639 Speaker 1: didn't like the experience, so this there became this. Um, 385 00:25:45,720 --> 00:25:49,159 Speaker 1: I don't know. Like the weirdest thing about the h 386 00:25:49,520 --> 00:25:53,639 Speaker 1: the civil war and Libya and um the NATO involvement 387 00:25:53,840 --> 00:25:58,680 Speaker 1: is that when the rebels won the city, when they 388 00:25:58,720 --> 00:26:01,120 Speaker 1: when they controlled Libya, and the first things they did 389 00:26:01,240 --> 00:26:04,680 Speaker 1: was open a central bank. Yeah, I remember that. It's 390 00:26:04,680 --> 00:26:06,600 Speaker 1: a it's a strange thing and that you know, I've 391 00:26:06,640 --> 00:26:09,119 Speaker 1: never toppled a country that I'm aware of, so I 392 00:26:09,119 --> 00:26:11,920 Speaker 1: don't know the order of operations or how it does, 393 00:26:12,600 --> 00:26:16,520 Speaker 1: how it works. But we also have a quote from 394 00:26:17,080 --> 00:26:21,400 Speaker 1: the Guardian about this. Uh, the Libyan government controls more 395 00:26:21,440 --> 00:26:24,200 Speaker 1: of its oil than any other nation on Earth, type 396 00:26:24,240 --> 00:26:28,119 Speaker 1: of oil that Europe at least finds easiest through refine. 397 00:26:28,560 --> 00:26:32,359 Speaker 1: But there's something else here that that's weird. Right, Yes, 398 00:26:33,200 --> 00:26:39,959 Speaker 1: Libya also controls its finances, right or it did well, yeah, okay, 399 00:26:40,000 --> 00:26:42,159 Speaker 1: it did. It didn't have a central bank in the 400 00:26:42,200 --> 00:26:44,560 Speaker 1: way that a lot of other countries did. That is 401 00:26:44,800 --> 00:26:48,520 Speaker 1: kind of a a system that functions inside the country 402 00:26:48,560 --> 00:26:52,640 Speaker 1: but on its own. Um. Yeah, that that right there 403 00:26:52,680 --> 00:26:54,679 Speaker 1: is one of the reasons I remember hearing about that 404 00:26:54,760 --> 00:26:57,240 Speaker 1: a long time ago about Libya and a couple other 405 00:26:57,280 --> 00:27:00,280 Speaker 1: countries that were some of the only only left on 406 00:27:00,320 --> 00:27:03,040 Speaker 1: the planet that did not have a central bank that 407 00:27:03,160 --> 00:27:07,360 Speaker 1: was just a private institution, right. And this this naming 408 00:27:07,640 --> 00:27:10,880 Speaker 1: of these countries that we quoted in the earlier thing 409 00:27:11,040 --> 00:27:16,159 Speaker 1: again that's Syria, Lebanon, Iraq, Libya, Somalia, Sterdan Iran. In 410 00:27:16,240 --> 00:27:22,040 Speaker 1: five years this uh, these seven countries aren't listed as 411 00:27:22,160 --> 00:27:25,000 Speaker 1: member banks for the Bank for International Settlements and were 412 00:27:25,000 --> 00:27:27,399 Speaker 1: out getting into the IMF, the World Bank and the 413 00:27:27,440 --> 00:27:31,119 Speaker 1: b I s UH, we can say that they're a 414 00:27:31,240 --> 00:27:37,000 Speaker 1: huge part of the financial global order, right, So that's 415 00:27:37,040 --> 00:27:42,200 Speaker 1: the idea. The idea here is that these analysts, clark 416 00:27:42,359 --> 00:27:48,960 Speaker 1: Ing Doll and others are saying that US invasions in 417 00:27:49,000 --> 00:27:54,439 Speaker 1: these areas were motivated by protecting the status of the 418 00:27:54,480 --> 00:27:56,919 Speaker 1: petro dollar. And for a lot of people that sounds 419 00:27:56,960 --> 00:28:01,680 Speaker 1: like either absolute bunk, right, or someone will say, well, 420 00:28:01,720 --> 00:28:05,000 Speaker 1: how can you even ask this question? It's so disrespectful. 421 00:28:05,040 --> 00:28:08,240 Speaker 1: I completely disagree with that that second statement, because I 422 00:28:08,280 --> 00:28:13,119 Speaker 1: don't think there's anything inherently disrespectful about asking questions. But 423 00:28:13,240 --> 00:28:16,680 Speaker 1: with that being said, and side note, do check out 424 00:28:16,760 --> 00:28:20,680 Speaker 1: our our video on the fall of Gaddafi. It's some 425 00:28:20,760 --> 00:28:23,640 Speaker 1: interesting stuff there, and the locker B bombing I think 426 00:28:23,680 --> 00:28:27,199 Speaker 1: we haven't and the locker B bombing as well. Yeah, 427 00:28:27,320 --> 00:28:31,359 Speaker 1: So this leads me to one question for you, Matt. 428 00:28:32,040 --> 00:28:36,120 Speaker 1: Do you think any of this stuff could be true? Well, 429 00:28:37,280 --> 00:28:40,600 Speaker 1: it could be, sure, I mean it's possible, right, it's 430 00:28:40,600 --> 00:28:46,040 Speaker 1: absolutely possible, But it's probably not as cut and dry 431 00:28:46,160 --> 00:28:48,880 Speaker 1: on one like one way or the other. Right, It's 432 00:28:48,920 --> 00:28:54,960 Speaker 1: probably very very gray, and it's probably got hints of 433 00:28:54,960 --> 00:28:57,240 Speaker 1: of both sides. Both are When I say both sides, 434 00:28:57,240 --> 00:28:59,680 Speaker 1: I mean people who would argue that, yes, absolutely, the 435 00:29:00,000 --> 00:29:02,920 Speaker 1: atro dollar in the maintaining of its power is a 436 00:29:02,960 --> 00:29:05,400 Speaker 1: reason to invade these countries. But then also there are 437 00:29:05,440 --> 00:29:08,600 Speaker 1: probably other reasons, right, as we've learned in any kind 438 00:29:08,640 --> 00:29:12,120 Speaker 1: of UH strategy at that level, there are so many 439 00:29:12,160 --> 00:29:17,160 Speaker 1: different aspects, right, Yeah, Are you getting into a conflict 440 00:29:17,240 --> 00:29:20,720 Speaker 1: because your allies, your regional partners asked you to do so? 441 00:29:20,880 --> 00:29:22,600 Speaker 1: You know that's another part of it too. Is it 442 00:29:22,680 --> 00:29:25,680 Speaker 1: just helpful that they asked for you to do it? Right? Right? 443 00:29:25,760 --> 00:29:27,880 Speaker 1: So here's here's the thing that we have to do 444 00:29:28,000 --> 00:29:32,760 Speaker 1: some mythbusting and misconceptions. I think this is more well 445 00:29:32,800 --> 00:29:36,600 Speaker 1: known now, but for a long time people thought mistakenly 446 00:29:37,040 --> 00:29:42,640 Speaker 1: that the Middle East was the primary source for US 447 00:29:42,680 --> 00:29:46,760 Speaker 1: oil imports. Oh yeah, I think that. I don't know 448 00:29:46,800 --> 00:29:49,600 Speaker 1: if it was from movies why that got into my head, 449 00:29:49,640 --> 00:29:51,640 Speaker 1: but that was that was a belief that I held true. 450 00:29:52,240 --> 00:29:56,640 Speaker 1: It's not even the top source of foreign oil entering 451 00:29:56,720 --> 00:30:00,080 Speaker 1: the US is not Saudi Arabia, although Saudi Arabia is 452 00:30:00,160 --> 00:30:02,920 Speaker 1: number two, and it is not a run and it 453 00:30:03,040 --> 00:30:07,360 Speaker 1: is not a rock. It's not even in the Middle East. Listeners, 454 00:30:07,400 --> 00:30:09,720 Speaker 1: can you guess, I know some of you already know this. 455 00:30:11,960 --> 00:30:14,600 Speaker 1: Maybe we should do the top five countries. Okay, So 456 00:30:14,640 --> 00:30:18,560 Speaker 1: here are the top five countries in reverse order. So 457 00:30:18,800 --> 00:30:23,600 Speaker 1: number five with four Russia. That's four percent of the 458 00:30:23,640 --> 00:30:32,080 Speaker 1: amount supplied. Number four, Venezuela with nine, Number three, Mexico 459 00:30:32,480 --> 00:30:36,520 Speaker 1: with nine, Saudi Arabia. As we said, number two with 460 00:30:38,840 --> 00:30:48,240 Speaker 1: and number one. Could we have a drum roll please? Canada, 461 00:30:48,400 --> 00:30:52,720 Speaker 1: ladies and gentlemen. Canada is the source of the largest 462 00:30:52,720 --> 00:30:58,120 Speaker 1: amount of foreign oil or petillia imported into the US. 463 00:30:58,320 --> 00:31:03,280 Speaker 1: So foreign, yes, the distant exotic land of Canada. Many 464 00:31:03,400 --> 00:31:08,160 Speaker 1: legends have been said about the mysterious ways of this remote, 465 00:31:08,880 --> 00:31:13,200 Speaker 1: unaccessible place and the yeties that gather the oil together 466 00:31:13,320 --> 00:31:17,960 Speaker 1: in vast vats, and of the people who traveled to 467 00:31:18,360 --> 00:31:21,960 Speaker 1: the distant north only to be burned hideously by the 468 00:31:22,080 --> 00:31:27,320 Speaker 1: horrific glowing lights of the Aurora borealis. Shudder to think. So, 469 00:31:27,480 --> 00:31:29,640 Speaker 1: I hope you guys can tell that we're joking. But 470 00:31:29,720 --> 00:31:34,719 Speaker 1: it is a weird misconception because you know, Canada and 471 00:31:34,760 --> 00:31:41,880 Speaker 1: the US hardly look at one another as these um 472 00:31:42,120 --> 00:31:46,440 Speaker 1: unknown menaces, you know, like that, that is the majority 473 00:31:46,560 --> 00:31:50,960 Speaker 1: of the foreign oil at this time. Shale oil technology 474 00:31:51,000 --> 00:31:54,560 Speaker 1: which we also did a or excuse me, just shale technology, 475 00:31:54,600 --> 00:31:58,520 Speaker 1: which we also did a piece on with fracking. Uh, 476 00:31:58,800 --> 00:32:02,600 Speaker 1: that has chained the nature of the game for the 477 00:32:02,680 --> 00:32:06,360 Speaker 1: US with the oil. And here's another point. So when 478 00:32:06,360 --> 00:32:08,560 Speaker 1: we look at the statistics, what we see is that 479 00:32:09,720 --> 00:32:14,640 Speaker 1: people do, at least in the States overestimate the amount 480 00:32:14,680 --> 00:32:18,120 Speaker 1: of oil coming from the Middle East to the US. 481 00:32:18,840 --> 00:32:21,720 Speaker 1: And you know this, this could change in the future, 482 00:32:21,960 --> 00:32:26,640 Speaker 1: these these percentages and prices could fluctuate. But there's another 483 00:32:26,720 --> 00:32:30,560 Speaker 1: there's a counterpoint here. Yes, so if the point of 484 00:32:30,640 --> 00:32:32,960 Speaker 1: this whole petro dollar system that we've been discussing this 485 00:32:33,120 --> 00:32:35,880 Speaker 1: entire time if the point of that is to prop 486 00:32:35,960 --> 00:32:39,480 Speaker 1: up the dollar and make it stronger, then it doesn't matter. 487 00:32:39,880 --> 00:32:42,720 Speaker 1: It doesn't matter at all. Actually, whether the oil is 488 00:32:42,760 --> 00:32:45,640 Speaker 1: sent to the US wherever it's it's created and sold, 489 00:32:45,680 --> 00:32:49,880 Speaker 1: it just matters that it is it is sold, right 490 00:32:49,920 --> 00:32:55,080 Speaker 1: because yeah, okay, so it just matters if the dollar 491 00:32:55,240 --> 00:32:58,719 Speaker 1: is the medium of exchange. Yeah. Yeah, And if it is, 492 00:32:58,760 --> 00:33:01,040 Speaker 1: then hey, we're good to Oh you can sell it 493 00:33:01,080 --> 00:33:03,840 Speaker 1: to whoever you need to. I know Canada needs even more. 494 00:33:04,000 --> 00:33:07,000 Speaker 1: They're probably producing a lot if they're selling us or 495 00:33:07,040 --> 00:33:10,720 Speaker 1: supplying us with that's and you know that's an if, right, 496 00:33:10,800 --> 00:33:15,520 Speaker 1: that's big. But this leads us to the next question. 497 00:33:17,000 --> 00:33:20,120 Speaker 1: Supposing now the petro dollar itself is real, right, the 498 00:33:20,160 --> 00:33:23,160 Speaker 1: situation is the big question is what role it plays 499 00:33:23,200 --> 00:33:27,520 Speaker 1: in global conflict. So our next question for the petro dollars, 500 00:33:27,600 --> 00:33:34,360 Speaker 1: how long can this system last? Well, I mean it 501 00:33:34,680 --> 00:33:38,280 Speaker 1: could last for a little longer, but ben these times 502 00:33:39,480 --> 00:33:43,520 Speaker 1: they're changing, right, Yeah, we often hear about the end 503 00:33:43,560 --> 00:33:46,520 Speaker 1: of the petro dollars. Who follow these sorts of stories, 504 00:33:46,600 --> 00:33:50,000 Speaker 1: then for years, for more than a decade, people have 505 00:33:50,040 --> 00:33:53,440 Speaker 1: been saying it's the end of the world tomorrow. And 506 00:33:53,480 --> 00:33:55,520 Speaker 1: you know, I just have to put this in here, 507 00:33:55,560 --> 00:33:58,440 Speaker 1: just as a Caveat a lot of times you will 508 00:33:58,600 --> 00:34:01,560 Speaker 1: hear that the end of the petro dollars coming from 509 00:34:01,600 --> 00:34:06,680 Speaker 1: a group that may be selling precious metals or at 510 00:34:06,720 --> 00:34:08,839 Speaker 1: least investment in precious medals. I just have to say 511 00:34:08,840 --> 00:34:10,520 Speaker 1: it because I've seen it in a lot of places 512 00:34:10,800 --> 00:34:13,200 Speaker 1: where you know your dollars are gonna be useless very 513 00:34:13,200 --> 00:34:18,320 Speaker 1: soon this silver or this gold, and you know, strangely 514 00:34:18,400 --> 00:34:21,920 Speaker 1: like the if you look at the prices and what retains. 515 00:34:22,440 --> 00:34:25,560 Speaker 1: I'm not I'm not sitting here in hawking precious metals 516 00:34:25,560 --> 00:34:29,080 Speaker 1: that you I'm just saying there to it. But at 517 00:34:29,120 --> 00:34:32,400 Speaker 1: the same time, there is a profit incentive there to 518 00:34:32,440 --> 00:34:36,640 Speaker 1: get you to dump your dollars. I see, I see. 519 00:34:37,440 --> 00:34:39,239 Speaker 1: So I think that's really I think that's a really 520 00:34:39,320 --> 00:34:41,680 Speaker 1: good point. You do have to be kind of suspicious 521 00:34:42,160 --> 00:34:45,200 Speaker 1: if someone wants you to panic about a financial system 522 00:34:45,200 --> 00:34:47,160 Speaker 1: and then attempts you to sell your gold at the 523 00:34:47,200 --> 00:34:52,480 Speaker 1: same time. I disagree bent. You always have to be suspicious. Okay. 524 00:34:53,160 --> 00:34:57,560 Speaker 1: So another thing that's happening in this future, this uncertain 525 00:34:57,840 --> 00:35:03,720 Speaker 1: future of in g politics, It's essentially what this is, right, uh, 526 00:35:03,840 --> 00:35:08,120 Speaker 1: is that there are increasingly viable forms of alternative energy. 527 00:35:08,160 --> 00:35:14,040 Speaker 1: They're nowhere near replacing fossil fuels yet, nowhere near, but 528 00:35:14,760 --> 00:35:19,320 Speaker 1: there is assiduous around the clock research going on, and 529 00:35:19,960 --> 00:35:22,799 Speaker 1: it's it's neck and neck in some ways. I think 530 00:35:22,920 --> 00:35:26,960 Speaker 1: right now China is leading the charge with solar panels. 531 00:35:26,960 --> 00:35:29,200 Speaker 1: It used to be the US, but now it's China. 532 00:35:29,440 --> 00:35:32,760 Speaker 1: And another thing, Russia is a force to be reckoned 533 00:35:32,800 --> 00:35:37,120 Speaker 1: with in this situation. If petro dollars matter, if petro 534 00:35:37,239 --> 00:35:42,600 Speaker 1: dollars do cause nations to experience instability, invasions, and war, 535 00:35:43,040 --> 00:35:47,600 Speaker 1: then China offers an alternative to countries that are not 536 00:35:47,680 --> 00:35:50,560 Speaker 1: on friendly terms with the US, whether in terms of 537 00:35:50,600 --> 00:35:54,080 Speaker 1: business negotiations or aid development loans that would be like 538 00:35:54,120 --> 00:35:58,799 Speaker 1: I M F loans and stuff. Russia also, surprise, there's 539 00:35:58,880 --> 00:36:01,839 Speaker 1: no need for a petro dollar. Well yeah, and they've 540 00:36:01,880 --> 00:36:05,839 Speaker 1: been taking steps the bricks nations right right, I mean 541 00:36:05,880 --> 00:36:09,480 Speaker 1: they're trying to set up their own currency, essentially with 542 00:36:09,520 --> 00:36:11,920 Speaker 1: a central bank, and then to be able to say, well, hey, 543 00:36:11,960 --> 00:36:14,120 Speaker 1: you can trade dollars with us, or you can trade 544 00:36:14,120 --> 00:36:16,920 Speaker 1: oil with us with our currency. Right. The brick is 545 00:36:16,960 --> 00:36:20,440 Speaker 1: an acronym b R I C. It stands for Brazil, Russia, India, 546 00:36:20,520 --> 00:36:24,920 Speaker 1: and China emerging emerging economic forces with a lot of heft. 547 00:36:25,480 --> 00:36:29,840 Speaker 1: That's correct. Additionally, a few years back, Iran also shifted 548 00:36:29,880 --> 00:36:33,480 Speaker 1: away from the dollar to trading in a basket of currencies, 549 00:36:33,520 --> 00:36:35,880 Speaker 1: and that actually happens, and that, you know, that's one 550 00:36:35,920 --> 00:36:38,160 Speaker 1: of the things that people said about Gaddafi too. They 551 00:36:38,200 --> 00:36:41,400 Speaker 1: would say, you know, the real reason that he's getting 552 00:36:41,400 --> 00:36:44,000 Speaker 1: based because he was trying to start his own currency system, 553 00:36:44,040 --> 00:36:49,080 Speaker 1: not gonna sell oil in dollars anymore. But while that's 554 00:36:49,120 --> 00:36:54,240 Speaker 1: the general gist of the theory, we know that whether 555 00:36:54,360 --> 00:36:59,200 Speaker 1: or not that belief about petro dollars in war is true, 556 00:36:59,360 --> 00:37:02,560 Speaker 1: we know the petrol dollar actually exists. So what happens 557 00:37:02,760 --> 00:37:06,960 Speaker 1: in a world without a petro dollar? We uh, We 558 00:37:07,040 --> 00:37:10,400 Speaker 1: had a nice little list here of possible things that 559 00:37:10,440 --> 00:37:16,000 Speaker 1: come from a writer named Jerry Robinson, and first things 560 00:37:16,040 --> 00:37:19,000 Speaker 1: first says feign nations will begin sending a flood of 561 00:37:19,080 --> 00:37:22,120 Speaker 1: US dollars back to the States in exchange for whatever 562 00:37:22,160 --> 00:37:25,160 Speaker 1: the new currency is needed for oil. So whether it's 563 00:37:25,160 --> 00:37:31,040 Speaker 1: Mountain time dollars or ben bucks or Colarie shells, it 564 00:37:31,080 --> 00:37:35,120 Speaker 1: doesn't matter. It's just what it represents, which is the 565 00:37:35,160 --> 00:37:39,960 Speaker 1: ability to obtain oil. Can I give you this and 566 00:37:40,000 --> 00:37:42,960 Speaker 1: you will give me oil? That's all you need? The 567 00:37:42,960 --> 00:37:47,280 Speaker 1: Federal Reserve could lose the ability to print more money, 568 00:37:47,360 --> 00:37:50,800 Speaker 1: which is historically in one of the solutions to America's 569 00:37:50,840 --> 00:37:56,480 Speaker 1: economic woes. The Treasury and the Fed would meet to determine, 570 00:37:56,719 --> 00:38:01,239 Speaker 1: like the best case scenario, what do we do? This would, 571 00:38:01,480 --> 00:38:05,960 Speaker 1: in Robinson's opinion, result in an immediate increase in interest 572 00:38:06,040 --> 00:38:10,640 Speaker 1: rates to reduce the money supply. This would trigger hyper inflation. 573 00:38:11,920 --> 00:38:15,040 Speaker 1: And we've we've covered hyper inflation, what it is, what 574 00:38:15,120 --> 00:38:18,160 Speaker 1: the effects could be, and uh, kind of the fear 575 00:38:18,200 --> 00:38:21,080 Speaker 1: mongering that happens with hyperinflation, but also the reality of 576 00:38:21,320 --> 00:38:23,960 Speaker 1: just what it can do. We looked at the Wimar 577 00:38:24,080 --> 00:38:27,680 Speaker 1: Republic thinking, oh, yeah, yeah, it's really bad when your 578 00:38:27,680 --> 00:38:32,240 Speaker 1: currency is valueless because there's just too much of it. 579 00:38:32,239 --> 00:38:36,240 Speaker 1: It's no good when you have to rush to spend 580 00:38:37,200 --> 00:38:39,520 Speaker 1: to buy everything you can in the morning, because by 581 00:38:39,560 --> 00:38:42,680 Speaker 1: the afternoon the money will be worthless, or at least 582 00:38:42,800 --> 00:38:45,840 Speaker 1: much more worthless than it currently already is worthless. And 583 00:38:45,880 --> 00:38:48,680 Speaker 1: that leads us, you know, that it leaks us down 584 00:38:48,680 --> 00:38:52,680 Speaker 1: a path that some might say is absurdity. Sure, and 585 00:38:52,680 --> 00:38:56,759 Speaker 1: it's definitely surreal. So what else would happen? Apparently there 586 00:38:56,800 --> 00:39:01,719 Speaker 1: would be another second even hiring these in interest rates 587 00:39:01,800 --> 00:39:06,279 Speaker 1: because the amount of money in the system would have 588 00:39:06,400 --> 00:39:09,560 Speaker 1: to be slashed. People don't need petro dollars anymore, so 589 00:39:09,719 --> 00:39:15,839 Speaker 1: demand has plummeted. Uh. Both political parties would blame each 590 00:39:15,840 --> 00:39:20,000 Speaker 1: other right first, and then also blame the FEDS. Sure, 591 00:39:20,560 --> 00:39:23,080 Speaker 1: because you know it's hey, this isn't a government institution. 592 00:39:23,120 --> 00:39:24,960 Speaker 1: Who are these guys? What are they doing? Oh? That's 593 00:39:25,000 --> 00:39:27,240 Speaker 1: so weird? And ma'n when you hate to be president 594 00:39:27,520 --> 00:39:32,480 Speaker 1: under that one. When that happens, Uh, people with adjustable 595 00:39:32,560 --> 00:39:38,239 Speaker 1: rate debts would have would have a terrible time, and 596 00:39:38,680 --> 00:39:44,440 Speaker 1: predictively layoffs would occur. Companies would close, people would get fired. 597 00:39:47,760 --> 00:39:51,040 Speaker 1: And the worst thing is that pretty much anything that 598 00:39:51,080 --> 00:39:55,600 Speaker 1: you own just devalues so badly, your home, your car, 599 00:39:55,840 --> 00:40:00,400 Speaker 1: everything that vote, especially that boat. Way to go guys, 600 00:40:00,880 --> 00:40:04,720 Speaker 1: really good investment. So could this happen, would it happen? 601 00:40:05,120 --> 00:40:07,799 Speaker 1: Should it happen? What do you what do you think? 602 00:40:07,840 --> 00:40:11,719 Speaker 1: Because this is one of those things where whether it's 603 00:40:11,760 --> 00:40:16,399 Speaker 1: good or bad depends upon where you live, your personal situation. 604 00:40:17,640 --> 00:40:21,319 Speaker 1: You know, we we know that one person's vision of 605 00:40:21,440 --> 00:40:25,840 Speaker 1: paradise is not often someone else's, right, Ben, I just 606 00:40:25,880 --> 00:40:28,840 Speaker 1: want to say here that I sometimes when we're in 607 00:40:28,880 --> 00:40:31,600 Speaker 1: this room together discussing a topic, or when I'm over 608 00:40:31,640 --> 00:40:39,600 Speaker 1: there editing something we're looking at, I forget how how privileged, uh, 609 00:40:39,680 --> 00:40:41,879 Speaker 1: the life of an American is because of a lot 610 00:40:41,920 --> 00:40:43,680 Speaker 1: of these systems that are set up, and this one 611 00:40:43,719 --> 00:40:48,200 Speaker 1: in particular, the whole Petro dollar system, the way it 612 00:40:48,200 --> 00:40:51,239 Speaker 1: it makes us all a little just that much more 613 00:40:51,280 --> 00:40:56,080 Speaker 1: wealthy by having a strong currency in this way. Um, 614 00:40:56,120 --> 00:40:58,160 Speaker 1: I take I realized. I take that, along with a 615 00:40:58,200 --> 00:41:00,520 Speaker 1: whole host of other things for granted us being an 616 00:41:00,560 --> 00:41:05,080 Speaker 1: American citizen. Did you ever see there was a comic 617 00:41:05,120 --> 00:41:10,080 Speaker 1: strip that I I loved for some very gallows humorous reasons. 618 00:41:10,120 --> 00:41:14,080 Speaker 1: But there's one panel strip I saw from from somewhere, 619 00:41:14,120 --> 00:41:16,960 Speaker 1: and listeners, maybe you remember this too. Uh. It was 620 00:41:17,040 --> 00:41:20,760 Speaker 1: a scene where there were three people who had jobs 621 00:41:20,920 --> 00:41:24,359 Speaker 1: walking past a homeless person right holding out a cup 622 00:41:24,440 --> 00:41:27,960 Speaker 1: for change, and above their heads they had the amount 623 00:41:28,040 --> 00:41:31,080 Speaker 1: of debt they have. You know this is familiar. You've 624 00:41:31,120 --> 00:41:33,600 Speaker 1: seen this, and you know there's like a student loan 625 00:41:34,080 --> 00:41:36,800 Speaker 1: or a series of student loans, and then credit cards 626 00:41:36,880 --> 00:41:40,120 Speaker 1: and like mortgage or whatever, and they're all in the negative, 627 00:41:40,160 --> 00:41:42,800 Speaker 1: all these people walking by, and then the homeless guy's 628 00:41:42,920 --> 00:41:46,960 Speaker 1: up like six dollars and forty two cents, And it 629 00:41:47,560 --> 00:41:54,359 Speaker 1: really affects your perspective, you know. Um, so what you're 630 00:41:54,360 --> 00:41:58,640 Speaker 1: saying though about about privilege and about how isolated people 631 00:41:58,760 --> 00:42:02,319 Speaker 1: can be. The weird just things seem normal if you 632 00:42:02,400 --> 00:42:06,239 Speaker 1: do them long enough. You know. Wow, Okay, well, out 633 00:42:06,239 --> 00:42:08,000 Speaker 1: of context, that quote is going to come back to 634 00:42:08,080 --> 00:42:16,800 Speaker 1: haunt me. Speaking of haunting, do you hear that? Whoa Okay, 635 00:42:16,800 --> 00:42:23,440 Speaker 1: all right, now I'm hearing you. Oh hey, oh, ladies 636 00:42:23,440 --> 00:42:27,560 Speaker 1: and gentlemen, it's our super producer. No, no, you know 637 00:42:27,840 --> 00:42:31,879 Speaker 1: the ghost. I was just being a spooky ghost. It's 638 00:42:31,920 --> 00:42:34,960 Speaker 1: trying to be a spooky guest. You got no worries? Yeah, 639 00:42:35,200 --> 00:42:41,640 Speaker 1: you got me. I cried a little gonna lie, yeah, 640 00:42:41,800 --> 00:42:45,200 Speaker 1: super spook. So what do you what do you think 641 00:42:45,239 --> 00:42:47,680 Speaker 1: about this whole thing? Man? Do you think that wars 642 00:42:47,880 --> 00:42:50,759 Speaker 1: are wars for oil? I mean I've always kind of 643 00:42:50,760 --> 00:42:54,040 Speaker 1: had a sense that that was the case. Um, but 644 00:42:54,080 --> 00:42:55,640 Speaker 1: it's kind of just been one of those sort of 645 00:42:55,640 --> 00:42:58,040 Speaker 1: gut feeling things from watching the news and just seeing 646 00:42:58,560 --> 00:43:00,839 Speaker 1: the white politics plays out now it's all about he's 647 00:43:00,880 --> 00:43:02,680 Speaker 1: got the resources and stuff. So I guess I can't 648 00:43:02,680 --> 00:43:06,000 Speaker 1: really back it up with any data. Well there are 649 00:43:06,040 --> 00:43:10,120 Speaker 1: there are statements though, where people mention uh, Like various 650 00:43:10,160 --> 00:43:14,200 Speaker 1: government officials on the left and the right mentioned uh 651 00:43:14,400 --> 00:43:17,560 Speaker 1: stuff about resources for oil. There was one I think 652 00:43:17,560 --> 00:43:21,680 Speaker 1: it was a senator, um, a senator from somewhere, and 653 00:43:22,080 --> 00:43:25,200 Speaker 1: he said something I loved when he said uh. Someone 654 00:43:25,239 --> 00:43:26,960 Speaker 1: asked him, like, what do you have to see so 655 00:43:27,280 --> 00:43:29,360 Speaker 1: that the blah blah blah and blah blah blah country 656 00:43:29,480 --> 00:43:31,960 Speaker 1: is ultimately about oil? And he said, of course, what 657 00:43:32,040 --> 00:43:40,160 Speaker 1: do you think national interest means national branded? That's one guy, Yeah, 658 00:43:40,800 --> 00:43:44,840 Speaker 1: secure that oil, right right? So like, what what do 659 00:43:44,880 --> 00:43:46,640 Speaker 1: you think do you think it would be? The world 660 00:43:46,680 --> 00:43:49,319 Speaker 1: would be a better place if this wasn't around, or 661 00:43:50,000 --> 00:43:54,919 Speaker 1: if the patronage system didn't exist. I mean it would 662 00:43:54,960 --> 00:43:57,080 Speaker 1: be I think the world would be a better place 663 00:43:57,120 --> 00:43:59,680 Speaker 1: if other people didn't have things that that other people 664 00:43:59,760 --> 00:44:03,799 Speaker 1: want and everyone could just get along and power from 665 00:44:04,080 --> 00:44:10,200 Speaker 1: magic just out of here, solar power, oh goodness of 666 00:44:10,200 --> 00:44:13,720 Speaker 1: our hearts, heart power, like like a care bear powered 667 00:44:16,120 --> 00:44:19,480 Speaker 1: everything industry with the care Bear stair, we'd be in 668 00:44:19,520 --> 00:44:25,560 Speaker 1: good shape. But we would be enslaving bears. We would 669 00:44:25,640 --> 00:44:30,160 Speaker 1: have care bears under the hood. This is ridiculous. Yeah, okay, okay, really, 670 00:44:30,200 --> 00:44:32,600 Speaker 1: do you guys think we there will be a small 671 00:44:32,719 --> 00:44:37,160 Speaker 1: number of humans at least that will someday have ubiquitous 672 00:44:37,239 --> 00:44:41,520 Speaker 1: energy that isn't causing emissions. Absolutely. I don't know if 673 00:44:41,520 --> 00:44:44,360 Speaker 1: they'll still be humans by that point, but yeah, sure, 674 00:44:44,560 --> 00:44:49,080 Speaker 1: if if everybody, if we managed to keep this crazy 675 00:44:49,320 --> 00:44:53,279 Speaker 1: ride called Homo sapiens going, then eventually, whether it's Homo 676 00:44:53,320 --> 00:44:56,520 Speaker 1: sapiens or whatever comes after us will have some sort 677 00:44:56,560 --> 00:45:00,000 Speaker 1: of some some sort of technology that will be interstinct, 678 00:45:00,000 --> 00:45:03,839 Speaker 1: wishable from magic to us. They will look like they're 679 00:45:03,920 --> 00:45:07,399 Speaker 1: care bear staring, and then all of a sudden, the 680 00:45:07,440 --> 00:45:12,759 Speaker 1: moon moves. Yeah, I mean, I guess the moon is 681 00:45:12,760 --> 00:45:15,600 Speaker 1: always moving. I'm trying to imagine the reason that you 682 00:45:15,680 --> 00:45:17,760 Speaker 1: need to we need you know, we need to change 683 00:45:18,400 --> 00:45:22,440 Speaker 1: I don't know the way the water is currently over here. 684 00:45:22,520 --> 00:45:25,919 Speaker 1: Let's change the tide. Okay, good, Maybe that's maybe that's 685 00:45:25,960 --> 00:45:28,160 Speaker 1: the future. That's how you get all your energy. You 686 00:45:28,200 --> 00:45:31,640 Speaker 1: have an oscillating moon and then you can just capture 687 00:45:31,680 --> 00:45:33,840 Speaker 1: the energy through turbines. I don't know if the science 688 00:45:33,920 --> 00:45:35,759 Speaker 1: is there yet. But I like that you're thinking big 689 00:45:36,680 --> 00:45:38,840 Speaker 1: and no. I'm sorry, man, I was excited about this. 690 00:45:38,880 --> 00:45:40,520 Speaker 1: I was being I was being so rude. What have 691 00:45:40,680 --> 00:45:42,800 Speaker 1: what have you been thinking about? This is the moment 692 00:45:42,840 --> 00:45:44,840 Speaker 1: with you. We want to hear from you. You know, 693 00:45:44,880 --> 00:45:46,600 Speaker 1: I just try to throw in my two cents. Ben. 694 00:45:46,920 --> 00:45:49,160 Speaker 1: You know I'm a I'm a blank slate on a 695 00:45:49,200 --> 00:45:55,960 Speaker 1: sunny day. Huh open sunny day altered it a little bit? 696 00:45:59,280 --> 00:46:01,440 Speaker 1: What am I thinking? Um? Well, the pea key on 697 00:46:01,480 --> 00:46:03,720 Speaker 1: my laptop doesn't work anymore, so I've got the virtual 698 00:46:03,800 --> 00:46:05,200 Speaker 1: keyboard up and every time I have to hit a P, 699 00:46:05,320 --> 00:46:06,759 Speaker 1: I gotta click the mouse on the P on the 700 00:46:06,800 --> 00:46:10,000 Speaker 1: virtual keyboard. So that's good. Is this episode entitled the 701 00:46:10,040 --> 00:46:12,040 Speaker 1: etro Dollar and it went No, I've had that's what 702 00:46:12,080 --> 00:46:14,879 Speaker 1: the virtual keyboards for him? Oh, man, I feel bad. 703 00:46:15,080 --> 00:46:19,040 Speaker 1: We should lay off things that require you to type P. Well, 704 00:46:19,080 --> 00:46:21,080 Speaker 1: you know what it is. It is the word podcast. 705 00:46:21,360 --> 00:46:26,520 Speaker 1: You know, just you couldn't handle it anymore. Just as 706 00:46:26,520 --> 00:46:29,600 Speaker 1: a reminder of everyone listening, Nol produces from where he's 707 00:46:29,600 --> 00:46:33,200 Speaker 1: sitting all of the house to works podcasts. He's one 708 00:46:33,239 --> 00:46:36,560 Speaker 1: man machine or one man army. You're one man army. 709 00:46:36,800 --> 00:46:42,239 Speaker 1: That is correct. It's very kind of you guys. It's true. 710 00:46:43,520 --> 00:46:47,319 Speaker 1: All right, So, uh, really quickly before we wrap this 711 00:46:47,360 --> 00:46:49,880 Speaker 1: thing up, I just wanted to make a quick announcement. 712 00:46:50,400 --> 00:46:54,080 Speaker 1: There is a big life change occurring in my one 713 00:46:54,120 --> 00:46:57,759 Speaker 1: of those my life. Uh, I'm just gonna go out 714 00:46:57,760 --> 00:47:00,120 Speaker 1: and say it. My wife and I are having our 715 00:47:00,200 --> 00:47:03,360 Speaker 1: first baby. I'm not doing anything. She's doing all the 716 00:47:03,400 --> 00:47:06,480 Speaker 1: work and I'm just kind of standing there, going, hey, 717 00:47:06,719 --> 00:47:09,560 Speaker 1: can I get you some water? That's pretty much what 718 00:47:09,600 --> 00:47:11,680 Speaker 1: I what I've been doing for the past few months here, 719 00:47:12,360 --> 00:47:15,040 Speaker 1: and I'm going to be away. That is happening imminently, 720 00:47:15,760 --> 00:47:19,040 Speaker 1: so I will be away from the studio for a bit. 721 00:47:19,760 --> 00:47:22,480 Speaker 1: I might swing in when I get a chance. Um. 722 00:47:23,160 --> 00:47:25,880 Speaker 1: You will notice on our YouTube page they're going to 723 00:47:25,960 --> 00:47:29,680 Speaker 1: be several classic videos. It's actually I think our last 724 00:47:29,840 --> 00:47:33,800 Speaker 1: batch of classic episodes that we are going to produce, 725 00:47:33,880 --> 00:47:35,880 Speaker 1: and not classic as in the style, but as in 726 00:47:36,280 --> 00:47:39,839 Speaker 1: videos from the original House Stuff Works channel, which we've 727 00:47:39,880 --> 00:47:43,480 Speaker 1: been slowly moving to. This will be the last bit 728 00:47:43,680 --> 00:47:47,200 Speaker 1: that we need to get over there. And by the way, 729 00:47:47,239 --> 00:47:50,040 Speaker 1: I think we hit three hundred and fifty thousand subscribers 730 00:47:50,040 --> 00:47:54,439 Speaker 1: on YouTube and that's huge. Thank you so seriously, thank you. 731 00:47:54,800 --> 00:47:57,560 Speaker 1: Oh my goodness. Yeah, I just want to say thank 732 00:47:57,600 --> 00:48:01,600 Speaker 1: you guys so much because this is your show, and 733 00:48:01,760 --> 00:48:04,719 Speaker 1: we've said it before, it's a free show. A lot 734 00:48:04,760 --> 00:48:09,560 Speaker 1: of stuff is free on the internet, so this, this 735 00:48:09,640 --> 00:48:12,600 Speaker 1: support means a hell of a lot to us. And 736 00:48:12,840 --> 00:48:17,040 Speaker 1: uh it's also you know, no offense, like it's cool 737 00:48:17,360 --> 00:48:20,600 Speaker 1: the show stuff is cool. But congratulations, Matt, thank you 738 00:48:20,719 --> 00:48:23,839 Speaker 1: very much. So if you well, thank you man. So 739 00:48:23,880 --> 00:48:27,440 Speaker 1: if you want to talk to us about the Petro dollar, 740 00:48:27,480 --> 00:48:31,040 Speaker 1: about anything we've talked about in past episodes, or if 741 00:48:31,040 --> 00:48:32,879 Speaker 1: you want to give me some parenting advice, I could 742 00:48:32,880 --> 00:48:36,520 Speaker 1: take it because I am lost right now. But you 743 00:48:36,520 --> 00:48:39,560 Speaker 1: know what will make it work, the whole bottle situation. 744 00:48:39,719 --> 00:48:41,719 Speaker 1: Just you know, I just have to gripe really fast 745 00:48:41,760 --> 00:48:44,680 Speaker 1: putting things together for babies, all of the all of 746 00:48:44,719 --> 00:48:47,520 Speaker 1: the different uh, I don't even know what most of 747 00:48:47,560 --> 00:48:51,160 Speaker 1: them are called, like the gliders and the other things. 748 00:48:51,200 --> 00:48:54,799 Speaker 1: Everything Greako makes no offense. Greako just very difficult to 749 00:48:54,800 --> 00:48:57,680 Speaker 1: put together. So anyway, I can't wait to have a 750 00:48:57,760 --> 00:49:01,640 Speaker 1: kid and then really worry about him falling off of 751 00:49:01,640 --> 00:49:03,520 Speaker 1: one of these great co machines that I put together 752 00:49:03,560 --> 00:49:06,680 Speaker 1: hopefully correctly. So anyway, you can write to us about 753 00:49:06,680 --> 00:49:09,000 Speaker 1: any of that stuff. You can find us on Facebook, 754 00:49:09,000 --> 00:49:11,360 Speaker 1: you can find us on Twitter. We are conspiracy stuff 755 00:49:11,400 --> 00:49:14,200 Speaker 1: on both of those. You can let's see, you can 756 00:49:14,200 --> 00:49:16,040 Speaker 1: go to stuff they don't want you to know dot com. 757 00:49:16,120 --> 00:49:18,360 Speaker 1: You can listen to all of these. Hopefully you're listening 758 00:49:18,400 --> 00:49:19,880 Speaker 1: to this on stuff they don't want you to know 759 00:49:19,960 --> 00:49:23,720 Speaker 1: dot com. If you are, you are awesome. You're awesome 760 00:49:23,760 --> 00:49:26,920 Speaker 1: either way for having this in your ears. But thank you. 761 00:49:27,320 --> 00:49:30,160 Speaker 1: Uh and there's one last thing, ben Ah. Yes, if 762 00:49:30,200 --> 00:49:32,640 Speaker 1: you have an idea and you'd like to email us, 763 00:49:32,680 --> 00:49:37,719 Speaker 1: if you have a story about your time abroad or 764 00:49:37,760 --> 00:49:40,560 Speaker 1: something relates to Petro Dollar, we'd like to hear it. 765 00:49:40,600 --> 00:49:43,399 Speaker 1: We want to hear more about this situation. We want 766 00:49:43,440 --> 00:49:47,560 Speaker 1: to hear whether it's true, whether it's utter bunk, and 767 00:49:47,600 --> 00:49:51,520 Speaker 1: we want to hear from you. And that's the end 768 00:49:51,640 --> 00:49:55,000 Speaker 1: of this classic episode. If you have any thoughts or 769 00:49:55,160 --> 00:49:58,960 Speaker 1: questions about this episode, you can get into contact with 770 00:49:59,040 --> 00:50:01,080 Speaker 1: us in a number of from ways. One of the 771 00:50:01,120 --> 00:50:03,000 Speaker 1: best is to give us a call. Our number is 772 00:50:03,040 --> 00:50:07,120 Speaker 1: one eight three three std w y t K. If 773 00:50:07,160 --> 00:50:08,960 Speaker 1: you don't want to do that, you can send us 774 00:50:08,960 --> 00:50:12,200 Speaker 1: a good old fashioned email. We are conspiracy at i 775 00:50:12,320 --> 00:50:16,040 Speaker 1: heart radio dot com. Stuff they don't want you to know. 776 00:50:16,280 --> 00:50:19,280 Speaker 1: Is a production of I heart Radio. For more podcasts 777 00:50:19,280 --> 00:50:21,520 Speaker 1: from my heart Radio, visit the i heart radio app, 778 00:50:21,600 --> 00:50:24,440 Speaker 1: Apple Podcasts, or wherever you listen to your favorite shows.