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| petrodollar collapse 2019: Socio-Historical Roots of Yemen’s Collapse Jude Kadri, 2023-05-05 The book dives into the socio-historical roots of the current ‘disintegration’ of the Yemeni state, proposing that it is the result of a long process of devaluation of the Yemeni economy through imperialistic means, in the historical era of Advanced American imperialism—starting in the 1970s—that is facing the rise of China since the 1980s. As the United States feels threatened by the blossoming of Chinese influence on the Red Sea and the strategic maritime straits of Hormuz and Bab-el-Mandeb, it is of utmost importance to understand the centrality of the war on Yemen. The disintegration of the Yemeni state since 2015, involving the disintegration of Yemeni sovereignty (in part through the fragmentation of the country), is a means of creating political chaos in a strategic country. The goal is to limit the growth of Chinese influence in the region of the Arab world, which threatens the financial superstructure of the global economic system based on the US dollar. |
| petrodollar collapse 2019: The Crash of Flight 3804 Charlotte Dennett, 2020-04-02 “Charlotte Dennett has written an excellent book summarizing the geopolitics of the Middle East historically through to current events. . . . This is an amazing piece of historical writing. . . . Students, foreign affairs ‘experts’ and officials should have this work as required reading.”—Jim Miles, Palestine Chronicle “[Dennett is] an expert in resource-based politics.”—Time Unraveling the mystery of a master spy’s death by following pipelines and mapping wars in the Middle East. In 1947, Daniel Dennett, America’s sole master spy in the Middle East, was dispatched to Saudi Arabia to study the route of the proposed Trans-Arabian Pipeline. It would be his last assignment. A plane carrying him to Ethiopia went down, killing everyone on board. Today, Dennett is recognized by the CIA as a “Fallen Star” and an important figure in US intelligence history. Yet the true cause of his death remains clouded in secrecy. In Follow the Pipelines, investigative journalist Charlotte Dennett digs into her father’s postwar counterintelligence work, which pitted him against America’s wartime allies—the British, French, and Russians—in a covert battle for geopolitical and economic influence in the Middle East. Through stories and maps, she reveals how feverish competition among superpower intelligence networks, military, and Big Oil interests have fueled indiscriminate attacks, misguided foreign policy, and targeted killings that continue to this day. The book delivers an irrefutable indictment of these devastating forces and demonstrates how the brutal violence they incite has shaped the Middle East and birthed an era of endless conflict. Follow the Pipelines also brings new questions to the fore: To what lengths has the United States negotiated with the Taliban, Al Qaeda, and ISIS to secure Big Oil’s holdings in Syria, Iraq, Afghanistan, and Yemen? Was the Pentagon’s goal of defeating ISIS a fraudulent pretext for America’s occupation of Syrian eastern provinces and a land grab for oil? Did the infamous double agent Kim Philby, who worked for the British while secretly spying for the Russians, have anything to do with Dennett’s death? Why have the US and China made North Africa the next major battleground in the Great Game for Oil? Part personal pilgrimage, part deft critique, Dennett’s insightful reportage examines what happens to international relations when oil wealth hangs in the balance, and she shines a glaring light on what so many have actually been dying for. |
| petrodollar collapse 2019: Blowout Rachel Maddow, 2019-10-01 #1 NEW YORK TIMES BESTSELLER • Big Oil and Gas Versus Democracy—Winner Take All “A rollickingly well-written book, filled with fascinating, exciting, and alarming stories about the impact of the oil and gas industry on the world today.”—The New York Times Book Review In 2010, the words “earthquake swarm” entered the lexicon in Oklahoma. That same year, a trove of Michael Jackson memorabilia—including his iconic crystal-encrusted white glove—was sold at auction for over $1 million to a guy who was, officially, just the lowly forestry minister of the tiny nation of Equatorial Guinea. And in 2014, revolutionaries in Ukraine raided the palace of their ousted president and found a zoo of peacocks, gilded toilets, and a floating restaurant modeled after a Spanish galleon. Unlikely as it might seem, there is a thread connecting these events, and Rachel Maddow follows it to its crooked source: the unimaginably lucrative and equally corrupting oil and gas industry. With her trademark black humor, Maddow takes us on a switchback journey around the globe, revealing the greed and incompetence of Big Oil and Gas along the way, and drawing a surprising conclusion about why the Russian government hacked the 2016 U.S. election. She deftly shows how Russia’s rich reserves of crude have, paradoxically, stunted its growth, forcing Vladimir Putin to maintain his power by spreading Russia’s rot into its rivals, its neighbors, the West’s most important alliances, and the United States. Chevron, BP, and a host of other industry players get their star turn, most notably ExxonMobil and the deceptively well-behaved Rex Tillerson. The oil and gas industry has weakened democracies in developed and developing countries, fouled oceans and rivers, and propped up authoritarian thieves and killers. But being outraged at it is, according to Maddow, “like being indignant when a lion takes down and eats a gazelle. You can’t really blame the lion. It’s in her nature.” Blowout is a call to contain the lion: to stop subsidizing the wealthiest businesses on earth, to fight for transparency, and to check the influence of the world’s most destructive industry and its enablers. The stakes have never been higher. As Maddow writes, “Democracy either wins this one or disappears.” |
| petrodollar collapse 2019: The Dollar Trap Eswar S. Prasad, 2015-08-25 Why the dollar is—and will remain—the dominant global currency The U.S. dollar's dominance seems under threat. The near collapse of the U.S. financial system in 2008–2009, political paralysis that has blocked effective policymaking, and emerging competitors such as the Chinese renminbi have heightened speculation about the dollar’s looming displacement as the main reserve currency. Yet, as The Dollar Trap powerfully argues, the financial crisis, a dysfunctional international monetary system, and U.S. policies have paradoxically strengthened the dollar’s importance. Eswar Prasad examines how the dollar came to have a central role in the world economy and demonstrates that it will remain the cornerstone of global finance for the foreseeable future. Marshaling a range of arguments and data, and drawing on the latest research, Prasad shows why it will be difficult to dislodge the dollar-centric system. With vast amounts of foreign financial capital locked up in dollar assets, including U.S. government securities, other countries now have a strong incentive to prevent a dollar crash. Prasad takes the reader through key contemporary issues in international finance—including the growing economic influence of emerging markets, the currency wars, the complexities of the China-U.S. relationship, and the role of institutions like the International Monetary Fund—and offers new ideas for fixing the flawed monetary system. Readers are also given a rare look into some of the intrigue and backdoor scheming in the corridors of international finance. The Dollar Trap offers a panoramic analysis of the fragile state of global finance and makes a compelling case that, despite all its flaws, the dollar will remain the ultimate safe-haven currency. |
| petrodollar collapse 2019: The Report: Saudi Arabia 2019 Oliver Cornock, Home to an estimated 15% of the world’s proven oil reserves and the single-largest economy in MENA, Saudi Arabia is a key regional and global player. The Vision 2030 blueprint sets out regulatory, budget and social reforms that will be implemented over the coming decade as the nation sets about curbing its reliance on crude oil production and export, which accounted for 43.5% of GDP in 2018. |
| petrodollar collapse 2019: The Hidden Hand of American Hegemony David E. Spiro, 1999 This study... makes a significant contribution to the literature of international political economy. The book also is a useful point of departure for further exploration by historians of finance, economics, and business. The data on capital flows alone constitute a valuable resource for all analysts.... The book is closely argued within the author's established methodological framework. It engages the reader in lively argument.? Michael R. Adamson ? Business History Review Between 1973 and 1980, the cost of crude oil rose suddenly and dramatically, precipitating convulsions in international politics. Conventional wisdom holds that international capital markets adjusted automatically and remarkably well: enormous amounts of money flowed into oil-rich states, and efficient markets then placed that new money in cash-poor Third World economies. David Spiro has followed the money trail, and the story he tells contradicts the accepted beliefs. Most of the sudden flush of new oil wealth didn't go to poor oil-importing countries around the globe. Instead, the United States made a deal with Saudi Arabia to sell it U.S. securities in secret, a deal resulting in a substantial portion of Saudi assets being held by the U.S. government. With this arrangement, the U.S. government violated its agreements with allies in the developed world. Spiro argues that American policymakers took this action to prop up otherwise intolerable levels of U.S. public debt. In effect, recycled OPEC wealth subsidized the debt-happy policies of the U.S. government as well as the debt-happy consumption of its citizenry. |
| petrodollar collapse 2019: Sleeping with the Devil Robert Baer, 2003-07-15 “Saudi Arabia is more and more an irrational state—a place that spawns global terrorism even as it succumbs to an ancient and deeply seated isolationism, a kingdom led by a royal family that can’t get out of the way of its own greed. Is this the fulcrum we want the global economy to balance on?” In his explosive New York Times bestseller, See No Evil, former CIA operative Robert Baer exposed how Washington politics drastically compromised the CIA’s efforts to fight global terrorism. Now in his powerful new book, Sleeping with the Devil, Baer turns his attention to Saudi Arabia, revealing how our government’s cynical relationship with our Middle Eastern ally and America’ s dependence on Saudi oil make us increasingly vulnerable to economic disaster and put us at risk for further acts of terrorism. For decades, the United States and Saudi Arabia have been locked in a “harmony of interests.” America counted on the Saudis for cheap oil, political stability in the Middle East, and lucrative business relationships for the United States, while providing a voracious market for the kingdom’ s vast oil reserves. With money and oil flowing freely between Washington and Riyadh, the United States has felt secure in its relationship with the Saudis and the ruling Al Sa’ud family. But the rot at the core of our “friendship” with the Saudis was dramatically revealed when it became apparent that fifteen of the nineteen September 11 hijackers proved to be Saudi citizens. In Sleeping with the Devil, Baer documents with chilling clarity how our addiction to cheap oil and Saudi petrodollars caused us to turn a blind eye to the Al Sa’ud’s culture of bribery, its abysmal human rights record, and its financial support of fundamentalist Islamic groups that have been directly linked to international acts of terror, including those against the United States. Drawing on his experience as a field operative who was on the ground in the Middle East for much of his twenty years with the agency, as well as the large network of sources he has cultivated in the region and in the U.S. intelligence community, Baer vividly portrays our decades-old relationship with the increasingly dysfunctional and corrupt Al Sa’ud family, the fierce anti-Western sentiment that is sweeping the kingdom, and the desperate link between the two. In hopes of saving its own neck, the royal family has been shoveling money as fast as it can to mosque schools that preach hatred of America and to militant fundamentalist groups—an end game just waiting to play out. Baer not only reveals the outrageous excesses of a Saudi royal family completely out of touch with the people of its kingdom, he also takes readers on a highly personal search for the deeper roots of modern terrorism, a journey that returns time again and again to Saudi Arabia: to the Wahhabis, the powerful Islamic sect that rules the Saudi street; to the Taliban and al Qaeda, both of which Saudi Arabia helped to underwrite; and to the Muslim Brotherhood, one of the most active and effective terrorist groups in existence, which the Al Sa’ud have sheltered and funded. The money and arms that we send to Saudi Arabia are, in effect, being used to cut our own throat, Baer writes, but America might have only itself to blame. So long as we continue to encourage the highly volatile Saudi state to bank our oil under its sand—and so long as we continue to grab at the Al Sa’ud’s money—we are laying the groundwork for a potential global economic catastrophe. |
| petrodollar collapse 2019: Islam in Historical Perspective Alexander Knysh, 2016-10-26 Islam in Historical Perspective provides readers with an introduction to Islam, Islamic history and societies with carefully selected historical and scriptural evidence that enables them to form a comprehensive and balanced vision of Islam’s rise and evolution across the centuries and up to the present day. Combining historical and chronological approaches, the book examines intellectual dialogues and socio-political struggles within the extraordinary rich Islamic tradition. Treating Islam as a social and political force, the book also addresses Muslim devotional practices, artistic creativity and the structures of everyday existence. Islam in Historical Perspective is designed to help readers to develop personal empathy for the subject by relating it to their own experiences and burning issues of today. It contains a wealth of historical anecdotes and quotations from original sources that are intended to emphasize its principal points in a memorable way. This new edition features a thoroughly revised and updated text, new illustrations, expanded study questions and chapter summaries. |
| petrodollar collapse 2019: Delinking Samir Amin, 1990-04 Is it possible for the Third World to escape from the constraints imposed by the world's economic system? What room for manoeuvre do these states have, and are they condemned to dependence? These are some of the questions Samir Amin confronts in Delinking. He argues that Third World countries cannot hope to raise living standards if they continue to adjust their development strategies in line with the trends set by a fundamentally unequal global capitalist system over which they have no control. The only alternative, he maintains, is for Third World societies to 'delink' from the logic of the global system - each country submitting its external economic relations to the logic of domestic development priorities, which in turn requires a broad coalition of popular forces in control of the state. Delinking, he shows, is not about absolute autarchy, but a neutralizing of the effects of external economic interactions on internal choices. |
| petrodollar collapse 2019: Operation Juárez Lyndon H. LaRouche, Jr., 2019-05-12 Written in August 1982, Operation Juárez emerged from Lyndon LaRouche’s intense work to forge a policy alliance among the leaders of the United States, Mexico, and India, to replace the bankrupt international financial system with a just New World Economic Order, based on principles derived from Alexander Hamilton’s American System of Economics. As the author explains in his foreword: “We have named this report ‘Operation Juárez,’ in memory of the proper alliance between the American Whigs of the United States and the Mexican liberals from whose ranks Juárez emerged as a leading figure” – ie, the Lincoln-Juárez alliance. Immediately prior to writing Operation Juárez, LaRouche, who had been in dialogue with President Reagan’s closest advisers even prior to his inauguration in early 1981, had just travelled to New Delhi where he met with Prime Minister Gandhi on April 23, 1982, and he then visited Mexico where he met with President López Portillo on May 27, 1982. As Mexico and the entire developing sector were being subjected to withering economic warfare by a desperately bankrupt City of London and Wall Street, LaRouche presented to both heads of state a battle plan to win the war and create a New World Economic Order. After meeting with President López Portillo in May, LaRouche was invited back to Mexico in early July 1982, where he met with top advisers to the Mexican President, who asked him to put his policy proposals in writing for further study and consideration. LaRouche did that within a matter of weeks, completing Operation Juárez on August 10, 1982. Shortly thereafter, President López Portillo implemented many of LaRouche’s recommendations; but with Mexico's prospective allies undermined via British Imperial operations, Mexico was not strong enough on its own to withstand the British Imperial response. Nonetheless, developing nations studied closely Mr. LaRouche’s strategy and you will recognize, as you read this book, the congruence between ongoing actions on the world stage today and the principles outlined in this book. The congruence is not an accident! |
| petrodollar collapse 2019: Mexico's Oil Mexico, 1940 |
| petrodollar collapse 2019: Dealing in Virtue Yves Dezalay, Bryant G. Garth, 1996 With examples from England, the United States, Sweden, Egypt, Hong Kong, and many other countries, Dezalay and Garth explore how international developments in turn transform domestic methods for handling disputes. Finally, they analyze the changing prospects for international business dispute resolution given the growing presence of international market and regulatory institutions such as the EEC, NAFTA, and the World Trade Organization. |
| petrodollar collapse 2019: Unclear Physics Målfrid Braut-Hegghammer, 2016-08 Many authoritarian leaders want nuclear weapons, but few manage to acquire them. Autocrats seeking nuclear weapons fail in different ways and to varying degrees—Iraq almost managed it; Libya did not come close. In Unclear Physics, Målfrid Braut-Hegghammer compares the two failed nuclear weapons programs, showing that state capacity played a crucial role in the trajectory and outcomes of both projects. Braut-Hegghammer draws on a rich set of new primary sources, collected during years of research in archives, fieldwork across the Middle East, and interviews with scientists and decision makers from both states. She gained access to documents and individuals that no other researcher has been able to consult. Her book tells the story of the Iraqi and Libyan programs from their origins in the late 1950s and 1960s until their dismantling. This book reveals contemporary perspectives from scientists and regime officials on the opportunities and challenges facing each project. Many of the findings challenge the conventional wisdom about clandestine weapons programs in closed authoritarian states and their prospects of success or failure. Braut-Hegghammer suggests that scholars and analysts ought to pay closer attention to how state capacity affects nuclear weapons programs in other authoritarian regimes, both in terms of questioning the actual control these leaders have over their nuclear weapons programs and the capability of their scientists to solve complex technical challenges. |
| petrodollar collapse 2019: Sustainable Entrepreneurship, Renewable Energy-Based Projects, and Digitalization Amina Omrane, Khalil Kassmi, Muhammad Wasim Akram, Ashish Khanna, Md Imtiaz Mostafiz, 2020-12-27 Sustainable Entrepreneurship is nowadays considered as a discipline at the cross-roads of many others. This book describes recent cases, techniques and tools proposed for leaders, entrepreneurs, and practitioners who are involved and responsible for making strategic decisions in their companies and aiming at sustainable development. This book highlights the use of new business models/methods that can be employed by organizations and researchers to save millions of dollars, to enhance the economic growth, as well as to resolve environmental and social issues, via sustainable networks, renewal energy distribution, and social/green entrepreneurship. It will provide a comprehensive discussion of practical techniques, like Machine Learning, Robotics, Photovoltaic solar energy, in the field of renewable energy, and other digital tools, such as digital marketing, crowdsourcing platforms, and digital currency. Meanwhile, it will enlighten the way for entrepreneurs and decision makers by helping them to learn how to grow their business. The focus will be on how to benefit from these techniques to develop sustainable and renewable energy-based projects, as well as digitalized new ventures. The book walks the reader through the latest emerging trends in digitalization that can support practitioners, managers, entrepreneurs, and researchers to help them appreciate the application of sustainable solutions in various functional domains. |
| petrodollar collapse 2019: The Case for the Green New Deal Ann Pettifor, 2019-09-17 In 2008, the first Green New Deal was devised by Pettifor and a group of English economist and thinkers, but was ignored within the tumults of the financial crash. A decade later, the ideas was revived within the democratic socialists in the US, forefront by Alexandria Ocasio Cortez. The Green New Deal demands a radical and urgent reversal of the current state of the global economy: including total de-carbonisation and a commitment to fairness and social justice. Critics on all sides have been quick to observe that the GND is a pipe dream that could never be implemented, and would cost the earth. But, as Ann Pettifor shows, we need to rethink the function of money, and how it works within the global system. How can we bail out the banks but not the planet? We have to stop thinking about the imperative of economic growth-nothing grows for ever. The program will be a long term project but it needs to start immediately. |
| petrodollar collapse 2019: The Real Oil Shock Ryan C. Smith, 2022-08-31 The rise of the global financial industry is treated by many economists as a critical component of the rise of neoliberalism. What few address is the role of the 1973 OPEC Oil Embargo and the 1979 Oil Shock in making modern financialization possible. Here, it will be demonstrated that the dramatic transfer of wealth from the industrialized, capitalist world to OPEC’s members triggered by the Oil Embargo and the Oil Shock created a vast pool of liquid capital. Oil prices inflation, as a result of Embargo and Shock, also triggered a balance of payments crisis that created unprecedented global demand for credit. Processing this capital and mitigating the inflationary pressures which followed the 1973 Shock encouraged the development of more liquid, internationally mobile instruments that made financialization possible and ushered in the effective privatization of money creation. This transformation of the creation of money, the rise of a new global debt cycle, and petrocapital-fuelled changes to financial practices laid the foundations of modern finance and the neoliberal world order as we know them. |
| petrodollar collapse 2019: The Colder War Marin Katusa, 2014-11-10 How the massive power shift in Russia threatens the political dominance of the United States There is a new cold war underway, driven by a massive geopolitical power shift to Russia that went almost unnoticed across the globe. In The Colder War: How the Global Energy Trade Slipped from America's Grasp, energy expert Marin Katusa takes a look at the ways the western world is losing control of the energy market, and what can be done about it. Russia is in the midst of a rapid economic and geopolitical renaissance under the rule of Vladimir Putin, a tenacious KGB officer turned modern-day tsar. Understanding his rise to power provides the keys to understanding the shift in the energy trade from Saudi Arabia to Russia. This powerful new position threatens to unravel the political dominance of the United States once and for all. Discover how political coups, hostile takeovers, and assassinations have brought Russia to the center of the world's energy market Follow Putin's rise to power and how it has led to an upsetting of the global balance of trade Learn how Russia toppled a generation of robber barons and positioned itself as the most powerful force in the energy market Study Putin's long-range plans and their potential impact on the United States and the U.S. dollar If Putin's plans are successful, not only will Russia be able to starve other countries of power, but the BRIC countries (Brazil, Russia, India, and China) will replace the G7 in wealth and clout. The Colder War takes a hard look at what is to come in a new global energy market that is certain to cause unprecedented impact on the U.S. dollar and the American way of life. |
| petrodollar collapse 2019: The Oil Crisis Raymond Vernon, 1976 The authors of the collected essays try to forret out the meaning of the fifteen-month period of the world's oil markets crisis that began in October 1973. |
| petrodollar collapse 2019: Why Not Default? Jerome E. Roos, 2019-02-12 How creditors came to wield unprecedented power over heavily indebted countries—and the dangers this poses to democracy The European debt crisis has rekindled long-standing debates about the power of finance and the fraught relationship between capitalism and democracy in a globalized world. Why Not Default? unravels a striking puzzle at the heart of these debates—why, despite frequent crises and the immense costs of repayment, do so many heavily indebted countries continue to service their international debts? In this compelling and incisive book, Jerome Roos provides a sweeping investigation of the political economy of sovereign debt and international crisis management. He takes readers from the rise of public borrowing in the Italian city-states to the gunboat diplomacy of the imperialist era and the wave of sovereign defaults during the Great Depression. He vividly describes the debt crises of developing countries in the 1980s and 1990s and sheds new light on the recent turmoil inside the Eurozone—including the dramatic capitulation of Greece’s short-lived anti-austerity government to its European creditors in 2015. Drawing on in-depth case studies of contemporary debt crises in Mexico, Argentina, and Greece, Why Not Default? paints a disconcerting picture of the ascendancy of global finance. This important book shows how the profound transformation of the capitalist world economy over the past four decades has endowed private and official creditors with unprecedented structural power over heavily indebted borrowers, enabling them to impose painful austerity measures and enforce uninterrupted debt service during times of crisis—with devastating social consequences and far-reaching implications for democracy. |
| petrodollar collapse 2019: Our Country, Then and Now Richard C. Cook, 2024-01-01 Our Country Then and Now takes us on a 400-year journey through America’s history, providing unique snapshots from African enslavement, native dispossession, financial scandals, and wars of expansion and aggression, interspersed with tales from author Richard C. Cook’s ancestry—from Puritan forebears to fighters in the American Revolutionary War and the Civil War, to Midwest Pioneer farmers and their relations with native nations. As a former NASA whistleblower, then US Treasury analyst, Cook dwells in particular on how the financial oligarchy aggrandized itself via a fractional reserve banking system that ultimately corrupted America’s originally proclaimed democratic and egalitarian values. He addresses how the British, European, and US bankers hijacked the American monetary system by placing it under control of the Money Trust through the creation of the Federal Reserve System in 1913, how this then financed the British takedown of rival Germany, triggered the Great Depression by shipping US gold to Britain and Europe, and led to the Bretton Woods agreements, the creation of the International Monetary Fund, and the Marshall Plan, which combined to place the world’s economy under the control of the US dollar. After World War II, the US financial oligarchs created the “national security state” headed by the CIA to rule the world through assassinations, financial thievery, and overthrow of governments. They elevated the Soviet Union into a bogeymen to justify the vast quantity of Federal Reserve “money printing” required to subsidize an out-of-control war budget and hundreds of US military bases around the world. These measures led to worldwide dollar supremacy under control of the Rockefeller dynasty, with the US National Security State—aka today’s “Deep State”—and the CIA set up to enforce the bankers’ financial hegemony that has lasted until now. Finally Cook addresses his efforts, along with Stephen Zarlenga of the American Monetary Institute and Congressman Dennis Kucinich, that resulted in the NEED Act of 2011 intended to end the Federal Reserve, and restore democratic control over the nation’s financial system, explaining how such reforms could save the US from today’s terminal hollowed-out economy. |
| petrodollar collapse 2019: A Century of War F. William Engdahl, 2012 Control the oil and you control entire nations, said Kissinger. Oil is an instrument of world domination in the grip of the Anglo-American empire. This is a story about power, power over entire nations and continents. Century of War is a gripping account of the murky world of the international oil industry and its role in world politics. Scandals about oil are familiar to most of us. From George W. Bush's election victory to the wars in Iraq and Afghanistan, US politics and oil enjoy a controversially close relationship. William Engdahl takes the reader through a history of the oil industry's grip on the world economy. His revelations are startling. A thin red line runs through modern world history, covered in oil and blood. This book is not for the faint of heart, but for those who can see beyond the daily media manipulation of reality that is called news. |
| petrodollar collapse 2019: Disruption Michael De Groot, 2024-03-15 In Disruption, Michael De Groot argues that the global economic upheaval of the 1970s was decisive in ending the Cold War. Both the West and the Soviet bloc struggled with the slowdown of economic growth; chaos in the international monetary system; inflation; shocks in the commodities markets; and the emergence of offshore financial markets. The superpowers had previously disseminated resources to their allies to enhance their own national security, but the disappearance of postwar conditions during the 1970s forced Washington and Moscow to choose between promoting their own economic interests and supporting their partners in Europe and Asia. De Groot shows that new unexpected macroeconomic imbalances in global capitalism sustained the West during the following decade. Rather than a creditor nation and net exporter, as it had been during the postwar period, the United States became a net importer of capital and goods during the 1980s that helped fund public spending, stimulated economic activity, and lubricated the private sector. The United States could now live beyond its means and continue waging the Cold War, and its allies benefited from access to the booming US market and the strengthened US military umbrella. As Disruption demonstrates, a new symbiotic economic architecture powered the West, but the Eastern European regimes increasingly became a burden to the Soviet Union. They were drowning in debt, and the Kremlin no longer had the resources to rescue them. |
| petrodollar collapse 2019: Diffusion of Democracy Barbara Wejnert, 2014-01-09 This study of democratization since 1800 provides new data to explore the relationship between socioeconomic development and democracy over the last 200 years. Barbara Wejnert examines both countries and regions, and argues that the role of diffusion mechanisms (as opposed to internal factors) is especially significant, as are regional effects. |
| petrodollar collapse 2019: The Triumph of Broken Promises Fritz Bartel, 2022-08-09 Communist and capitalist states alike were scarred by the economic shocks of the 1970s. Why did only communist governments fall in their wake? Fritz Bartel argues that Western democracies were insulated by neoliberalism. While austerity was fatal to the legitimacy of communism, democratic politicians could win votes by pushing market discipline. |
| petrodollar collapse 2019: The Hidden Hand of American Hegemony David E. Spiro, 2019-06-30 Between 1973 and 1980, the cost of crude oil rose suddenly and dramatically, precipitating convulsions in international politics. Conventional wisdom holds that international capital markets adjusted automatically and remarkably well: enormous amounts of money flowed into oil-rich states, and efficient markets then placed that new money in cash-poor Third World economies. David Spiro has followed the money trail, and the story he tells contradicts the accepted beliefs. Most of the sudden flush of new oil wealth didn't go to poor oil-importing countries around the globe. Instead, the United States made a deal with Saudi Arabia to sell it U.S. securities in secret, a deal resulting in a substantial portion of Saudi assets being held by the U.S. government. With this arrangement, the U.S. government violated its agreements with allies in the developed world. Spiro argues that American policymakers took this action to prop up otherwise intolerable levels of U.S. public debt. In effect, recycled OPEC wealth subsidized the debt-happy policies of the U.S. government as well as the debt-happy consumption of its citizenry. |
| petrodollar collapse 2019: Capitalism in America Alan Greenspan, Adrian Wooldridge, 2018-10-16 From the legendary former Fed Chairman and the acclaimed Economist writer and historian, the full, epic story of America's evolution from a small patchwork of threadbare colonies to the most powerful engine of wealth and innovation the world has ever seen. Shortlisted for the 2018 Financial Times and McKinsey Business Book of the Year Award From even the start of his fabled career, Alan Greenspan was duly famous for his deep understanding of even the most arcane corners of the American economy, and his restless curiosity to know even more. To the extent possible, he has made a science of understanding how the US economy works almost as a living organism--how it grows and changes, surges and stalls. He has made a particular study of the question of productivity growth, at the heart of which is the riddle of innovation. Where does innovation come from, and how does it spread through a society? And why do some eras see the fruits of innovation spread more democratically, and others, including our own, see the opposite? In Capitalism in America, Greenspan distills a lifetime of grappling with these questions into a thrilling and profound master reckoning with the decisive drivers of the US economy over the course of its history. In partnership with the celebrated Economist journalist and historian Adrian Wooldridge, he unfolds a tale involving vast landscapes, titanic figures, triumphant breakthroughs, enlightenment ideals as well as terrible moral failings. Every crucial debate is here--from the role of slavery in the antebellum Southern economy to the real impact of FDR's New Deal to America's violent mood swings in its openness to global trade and its impact. But to read Capitalism in America is above all to be stirred deeply by the extraordinary productive energies unleashed by millions of ordinary Americans that have driven this country to unprecedented heights of power and prosperity. At heart, the authors argue, America's genius has been its unique tolerance for the effects of creative destruction, the ceaseless churn of the old giving way to the new, driven by new people and new ideas. Often messy and painful, creative destruction has also lifted almost all Americans to standards of living unimaginable to even the wealthiest citizens of the world a few generations past. A sense of justice and human decency demands that those who bear the brunt of the pain of change be protected, but America has always accepted more pain for more gain, and its vaunted rise cannot otherwise be understood, or its challenges faced, without recognizing this legacy. For now, in our time, productivity growth has stalled again, stirring up the populist furies. There's no better moment to apply the lessons of history to the most pressing question we face, that of whether the United States will preserve its preeminence, or see its leadership pass to other, inevitably less democratic powers. |
| petrodollar collapse 2019: Quantitative Investing Lingjie Ma, 2020-09-07 This book provides readers with a systematic approach to quantitative investments and bridges the gap between theory and practice, equipping students to more seamlessly enter the world of industry. A successful quantitative investment strategy requires an individual to possess a deep understanding of the financial markets, investment theories and econometric modelings, as well as the ability to program and analyze real-world data sets. In order to connect finance theories and practical industry experience, each chapter begins with a real-world finance case study. The rest of the chapter introduces fundamental insights and theories, and teaches readers to use statistical models and R programming to analyze real-world data, therefore grounding the learning process in application. Additionally, each chapter profiles significant figures in investment and quantitative studies, so that readers can more fully understand the history of the discipline. This volume will be particularly useful to advanced students and practitioners in finance and investments. |
| petrodollar collapse 2019: Systemic Remediation Chijioke Francis Nwosu, 2024-08-20 Since the issues and discourses surrounding sustainable development entered its phase in our contemporary world, the political, social, economic, ecological, and cultural existence of our modern world has inevitably adopted varied measures to respond better to the demands of our time. This book contributes to the global call for transitions and transformations towards a more sustainable human society. This contribution is specific, dialogic and comparative and also has deep cultural and ethnological consciousness based on the Nigerian experiences and, by extension, the African experience. The research work presents as its background the hypothesis that varied forms of structures—socio-political, socio-economic, socio-ecological and socio-cultural—unite to constitute ‘structural sins’ (John Paul II) and, consequently, the banes to authentic and sustainable development. These dysfunctional structures were critically analysed and evaluated. Furthermore, the research work takes up the contemporary discourse on sustainable development, beginning with earlier development concepts, the impactful contribution of social documents of the church to development discourse, the timeline of the general global and sustainable development approach and governance, as well as the specifics of the twin documents of the year 2015, namely Agenda 2030 and Laudato Si. Again, an indigenised manuscript for development discourse known as Nigeria Vision 20:2020 was examined to delineate the fact that forms of indigenous efforts to discuss and administrate the development process are noticeable. However, such efforts have remained negatively exploited by both internal and external man-made corrupt factors. One such factors discussed in this book, among others, is the failure of Nigeria since independence to stabilise its power and energy sector. |
| petrodollar collapse 2019: The Political Economy of Natural Resource Funds Eyene Okpanachi, Reeta Chowdhari Tremblay, 2021-08-13 This book aims to foster a better understanding of the particular challenges faced by resource-dependent countries or jurisdictions in managing their resource revenues through natural resource funds (NRFs). It explores the varieties of natural resource management strategies as dictated primarily by domestic politics, and how the potential negative distributional consequences of resource wealth management (the resource curse) may add political dimensions and potential conflicts to decisions about NRFs in ways that other sovereign wealth funds (SWFs) do not experience. By bridging the existing academic and practical knowledge gap arising from the limited attention given to the domestic politics of NRFs and state-society relations, this edited book is a valuable resource for academics, policymakers, and civil society actors in resource-driven economies and especially those interested in learning from comparative experiences of natural resource wealth management through NRFs. |
| petrodollar collapse 2019: Debt And The Less Developed Countries Jonathan David Aronson, 2019-02-22 Scholars and practitioners from the fields of economics, political science, sociology, and government discuss the nature and importance of debt in the international system and question whether international debt is a necessary element of international development or a potential root of international economic collapse (and of the demise of the dollar as denominator of the monetary realm). They then turn specifically to the impact of external debt on developing countries, exploring the potential for both positive and negative effects. In the final section of the book they look at the interactions between debtors and creditors when loans begin to sour. |
| petrodollar collapse 2019: The Foreign Policies Of Arab States Bahgat Korany, Ali El-Din Hillal Dessouki, 2019-07-09 Middle East politics have been proverbial for their changeability. The 1970s ushered in petro-politics, for instance, but OPEC's international status declined markedly in the following decade. Similarly, the Arab world's ostracism of Egypt in the 1970s following its separate peace with Israel was turned around in the 1980s; the late 1980s also brought PLO acceptance of the State of Israel. Interstate relations were not the only arena to experience significant alterations; state-society relations also underwent dramatic changes, such as the acceleration of privatization in erstwhile socialist regimes. Then the 1990s opened with a political earthquake: the Gulf Crisis. The second edition of this highly acclaimed text offers a penetrating analysis of trends in Arab foreign policies since the book was originally published in 1984, including an early analysis of the effects of Iraq's invasion of Kuwait and the subsequent coalition victory over Iraq. In addition, the authors have included new chapters on Jordan—at the heart of the Arab world—and on the Sudan—the region's link to sub-Saharan Africa. Their inclusion allows a fuller understanding of the foreign policies of states that occupy crucial geopolitical positions but wield little tangible power. Moreover, in many of its chapters the book raises the crucial question of how the foreign policies of these countries can cope with the prevalence of political change. |
| petrodollar collapse 2019: A-level Geography Topic Master: Global Systems Simon Oakes, 2019-07-29 Exam board: AQA, Edexcel, OCR, WJEC/Eduqas Level: A-level Subject: Geography First teaching: September 2016 First exams: Summer 2017 (AS); Summer 2018 (A-level) Master the in-depth knowledge and higher-level skills that A-level Geography students need to succeed; this focused topic book extends learning far beyond your course textbooks. Blending detailed content and case studies with questions, exemplars and guidance, this book: - Significantly improves students' knowledge and understanding of A-level content and concepts, providing more coverage of Global Systems than your existing resources - Strengthens students' analytical and interpretative skills through questions that involve a range of geographical data sources, with guidance on how to approach each task - Demonstrates how to evaluate issues, with a dedicated section in every chapter that shows how to think geographically, consider relevant evidence and structure a balanced essay - Equips students with everything they need to excel, from additional case studies and definitions of key terminology, to suggestions for further research and fieldwork ideas for the Independent Investigation - Helps students check, apply and consolidate their learning, using end-of-chapter refresher questions and discussion points, plus tailored advice for the AQA, Edexcel, OCR and WJEC/Eduqas specifications - Offers trusted and reliable content, written by a team of highly experienced senior examiners and reviewed by academics with unparalleled knowledge of the latest geographical theories |
| petrodollar collapse 2019: Mexico's Search For A New Development Strategy Dwight S. Brothers, 2019-08-16 Papers commissioned for the Yale/Mexico Conference (New Haven, April, 1989) are organized around four themes: the economic and socio-political context; contemporary macroeconomic issues; alternative development strategies, and; financial sector reform agenda. |
| petrodollar collapse 2019: Monsters to Destroy Navin A. Bapat, 2019-11-04 Terrorism kills far fewer Americans annually than automobile accidents, firearms, or even lightning strikes. Given this minimal risk, why does the U.S. continue expending lives and treasure to fight the global war on terror? In Monsters to Destroy, Navin A. Bapat argues that the war on terror provides the U.S. a cover for its efforts to expand and preserve American control over global energy markets. To gain dominance over these markets, the U.S. offered protection to states critical in the extraction, sale, and transportation of energy from their terrorist internal and external enemies. However, since the U.S. was willing to protect these states in perpetuity, the leaders of these regimes had no incentive to disarm their terrorists. This inaction allowed terrorists to transition into more powerful and virulent insurgencies, leading the protected states to chart their own courses and ultimately break with U.S. foreign policy objectives. Bapat provides a sweeping look at how the loss of influence over these states has accelerated the decline of U.S. economic and military power, locking it into a permanent war for its own economic security. |
| petrodollar collapse 2019: Dollar Implosion! Kaya Colak, 2019-02-05 Dollar Implosion!: Return of the Gold Standard is a unique combination of allegory and nonfiction that revolves around the life of middle-aged Johnny who symbolizes the United States of America. Johnny once ruled his neighborhood like a king. But as middle age crept up on him, he was faced with divorce and imminent bankruptcy. Johnny is forced to reinvent himself and adapt to the rapidly changing world around him. Similarly, the American empire is enduring the challenges of a middle-aged empire. Its currency, the US dollar, will soon collapse due to unsustainable massive government debt and historical forces beyond its control. Its middle class is being squeezed by both the public and private sector. The individual citizen finds himself battling large corporations and government at the same time. Ultimately, the current system that favors the wealthy and large corporations will implode. From the ashes of the outdated financial system will rise a more equitable financial and political system based on the return of the gold standard. |
| petrodollar collapse 2019: Critical Risks of Different Economic Sectors Dmitry Chernov, Didier Sornette, 2019-12-03 This book explores the major differences between the kinds of risk encountered in different sectors of industry - production (including agriculture) and services - and identifies the main features of accidents within different industries. Because of these differences, unique risk-mitigation measures will need to be implemented in one industry that cannot be implemented in another, leading to large managerial differences between these broad economic sectors. Based on the analysis of more than 500 disasters, accidents and incidents - around 230 cases from the production sector and around 280 cases from the service sector - the authors compare the risk response actions appropriate within different sectors, and establish when and how it is possible to generalize the experience of dealing with risks in any given industry to a wider field of economic activity. This book is mainly intended for executives, strategists, senior risk managers of enterprise-wide organizations and risk management experts engaged in academic or consulting work. By setting out clearly the sector differences in risk management, the authors aim to improve the practice of general risk assessment with regard to identifying and prioritizing risks, and of risk control with regard to planning appropriate mitigation measures. |
| petrodollar collapse 2019: Hydraulic Fracturing in Unconventional Reservoirs Hoss Belyadi, Ebrahim Fathi, Fatemeh Belyadi, 2019-06-18 Hydraulic Fracturing in Unconventional Reservoirs: Theories, Operations, and Economic Analysis, Second Edition, presents the latest operations and applications in all facets of fracturing. Enhanced to include today's newest technologies, such as machine learning and the monitoring of field performance using pressure and rate transient analysis, this reference gives engineers the full spectrum of information needed to run unconventional field developments. Covering key aspects, including fracture clean-up, expanded material on refracturing, and a discussion on economic analysis in unconventional reservoirs, this book keeps today's petroleum engineers updated on the critical aspects of unconventional activity. - Helps readers understand drilling and production technology and operations in shale gas through real-field examples - Covers various topics on fractured wells and the exploitation of unconventional hydrocarbons in one complete reference - Presents the latest operations and applications in all facets of fracturing |
| petrodollar collapse 2019: Global Economic Prospects, January 2015 World Bank Publications, 2015-01-26 As in previous years, global growth disappointed in 2014, but a lackluster recovery is underway, with increasingly divergent prospects in major economies and developing countries. Looking ahead, growth is expected to rise slowly, supported by continued recovery in highincome countries, low oil prices, and receding domestic headwinds in developing economies. However, continued weak global trade growth and gradually tightening financial conditions will constrain the recovery. Risks to the outlook remain tilted to the downside. In addition to discussing global and regional economic developments and prospects, this edition of Global Economic Prospects includes four essays that analyze key challenges and opportunities currently confronting developing countries: fiscal policy as a countercyclical policy tool; causes and implications of cheap oil; weak trade that fails to act as an engine of growth; and remittances as a means of steadying consumption during sudden stops. Global Economic Prospects is a World Bank Group Flagship Report. On a semiannual basis (January and June), it examines global economic developments and prospects, with a special focus on developing countries. The report includes analysis of topical policy challenges faced by developing countries through in-depth research in the January edition and shorter analytical pieces in the June edition. |
| petrodollar collapse 2019: The Oxford Handbook of Terrorism Erica Chenoweth, Richard English, Andreas Gofas, Stathis N. Kalyvas, 2019-03-19 The Oxford Handbook of Terrorism systematically integrates the substantial body of scholarship on terrorism and counterterrorism before and after 9/11. In doing so, it introduces scholars and practitioners to state of the art approaches, methods, and issues in studying and teaching these vital phenomena. This Handbook goes further than most existing collections by giving structure and direction to the fast-growing but somewhat disjointed field of terrorism studies. The volume locates terrorism within the wider spectrum of political violence instead of engaging in the widespread tendency towards treating terrorism as an exceptional act. Moreover, the volume makes a case for studying terrorism within its socio-historical context. Finally, the volume addresses the critique that the study of terrorism suffers from lack of theory by reviewing and extending the theoretical insights contributed by several fields - including political science, political economy, history, sociology, anthropology, criminology, law, geography, and psychology. In doing so, the volume showcases the analytical advancements and reflects on the challenges that remain since the emergence of the field in the early 1970s. |
| petrodollar collapse 2019: The Green Paradox Hans-Werner Sinn, 2012-02-03 A leading economist develops a supply-side approach to fighting climate change that encourages resource owners to leave more of their fossil carbon underground. The Earth is getting warmer. Yet, as Hans-Werner Sinn points out in this provocative book, the dominant policy approach—which aims to curb consumption of fossil energy—has been ineffective. Despite policy makers' efforts to promote alternative energy, impose emission controls on cars, and enforce tough energy-efficiency standards for buildings, the relentlessly rising curve of CO2 output does not show the slightest downward turn. Some proposed solutions are downright harmful: cultivating crops to make biofuels not only contributes to global warming but also uses resources that should be devoted to feeding the world's hungry. In The Green Paradox, Sinn proposes a new, more pragmatic approach based not on regulating the demand for fossil fuels but on controlling the supply. The owners of carbon resources, Sinn explains, are pre-empting future regulation by accelerating the production of fossil energy while they can. This is the “Green Paradox”: expected future reduction in carbon consumption has the effect of accelerating climate change. Sinn suggests a supply-side solution: inducing the owners of carbon resources to leave more of their wealth underground. He proposes the swift introduction of a “Super-Kyoto” system—gathering all consumer countries into a cartel by means of a worldwide, coordinated cap-and-trade system supported by the levying of source taxes on capital income—to spoil the resource owners' appetite for financial assets. Only if we can shift our focus from local demand to worldwide supply policies for reducing carbon emissions, Sinn argues, will we have a chance of staving off climate disaster. |
Petrodollars: Definition, History, Uses - Investopedia
Jul 17, 2024 · Petrodollars are U.S. dollars earned from crude oil exports. Read about petrodollar recycling and the history of the petrodollar.
Petrocurrency - Wikipedia
Petrocurrency (or petrodollar) is a word used with three distinct meanings, often confused: Dollars paid to oil-producing nations ( petrodollar …
What Is the Petrodollar? - The Balance
Jun 4, 2022 · A petrodollar is a U.S. dollar paid to an oil-exporting country that cannot be spent on imports for that country. The 1945 U.S.-Saudi …
How Petrodollars Affect the US Dollar - Investopedia
Aug 5, 2024 · The politicization of dollarization—the American use of the powerful dollar to punish so-called "rogue" regimes—has led to a …
What is Petrodollar? Key Concepts and Implications
May 22, 2024 · The petrodollar system operates on a straightforward principle: oil-exporting countries sell their oil in US dollars. This system was …
Petrodollars: Definition, History, Uses - Investopedia
Jul 17, 2024 · Petrodollars are U.S. dollars earned from crude oil exports. Read about petrodollar recycling and the history of the petrodollar.
Petrocurrency - Wikipedia
Petrocurrency (or petrodollar) is a word used with three distinct meanings, often confused: Dollars paid to oil-producing nations ( petrodollar recycling )—a term invented in the 1970s meaning …
What Is the Petrodollar? - The Balance
Jun 4, 2022 · A petrodollar is a U.S. dollar paid to an oil-exporting country that cannot be spent on imports for that country. The 1945 U.S.-Saudi agreement created the petrodollar. The …
How Petrodollars Affect the US Dollar - Investopedia
Aug 5, 2024 · The politicization of dollarization—the American use of the powerful dollar to punish so-called "rogue" regimes—has led to a backlash, but the petrodollar system remains firmly in …
What is Petrodollar? Key Concepts and Implications
May 22, 2024 · The petrodollar system operates on a straightforward principle: oil-exporting countries sell their oil in US dollars. This system was established in the early 1970s when the …
Petrodollar - Meaning, System, Agreement, End, Collapse
The petrodollar system implicates the US dollar globally accepted for oil exports. In other words, it is typically the international practice of trading oil for American dollars rather than another …
America's Petrodollar System: A Timeline of the Rise and Fall of …
May 17, 2011 · The petrodollar system, created in the Nixon-Kissinger era, was likely one of the most brilliant economic moves in recent political memory. However, the system began …
What Is the Petrodollar? Benefits and Drawbacks | Tony Robbins
The petrodollar system is essentially the global practice of exchanging oil for US dollars, rather than any other currency. This means that no matter what country is buying the oil, they pay the …
Definition of Petrodollars - Georgetown University
Petrodollar surpluses, accrued in the process of converting subsoil wealth into an internal income-generating capital stock, refers to oil production that exceeds such needs but is transformed …
What Is the Petrodollar? Meaning, Pros & Risks | Blueberry.
Learn about the petrodollar system, its impact on global trade, USD demand, and oil markets. Explore its benefits, risks, and future outlook.
