Many things are starting to come together as we review what has occurred since Nixon took us totally off the gold standard in 1971. This was the end of our golden era of growth that started shortly after WWII and ended that dreadful day in 1971 when we were sold down the river by the same man who soiled our reputation worldwide with the Watergate scandal. During this golden era, everyone was prospering and making good money, including our vastly growing middle class, but the transnational corporations of the military-industrial complex were especially prosperous.

The owners of these huge corporations used their gargantuan profits to power their plans for world government by setting up subversive trusts and foundations, by donating to major universities to gain influence over our youth, by funding their pet projects at these universities to control the path of technology and innovation and most notoriously by purchasing and funding the best politicians and the best enemies that money could buy. This enabled these arrogant sociopaths to run our country from the shadows while our Illuminist-created enemies made their benefactors rich by waging cold wars and hot wars alike to put us in a perpetual struggle for perpetual peace and democracy so that these evil elitists could make perpetual and rapacious profits.

Also during this era of growth and prosperity, inflation was kept very mild, in the 2% to 3% range, in order to support our growth (and yes, those were both official and actual inflation figures from the good old days when we at least got some truth out of our government instead of the non-stop, pathological lying we have been forced to suffer from our reprobate government officials for the past three decades). This mild inflation was the result of our adherence to a watered down version of our original gold standard that kept our money supply in check until Nixon nixed the redemption of dollars held by foreign nations in exchange for our gold, thus completely removing us from the gold standard.

But if you want to create a world economy to pave the way for world government, you need lots and lots of money and credit, and the partial gold standard was making it impossible to sufficiently increase the money supply for this purpose. That is because a lot of those new dollars would have made their way into the dollar Forex reserves of foreigners who, for various reasons such as hedging against the inflation resulting from the increased supply of money, would have attempted to redeem a goodly portion thereof for the only real money, gold, and that would have quickly drained us of our gold reserves over a very short period of time as the elitists discovered from their London Gold Poole debacle in the late 1960's. Their attempt by use of this London Gold Poole to suppress the price of gold to cover up their mishandling of the US and UK economies by flooding the market with bullion (some of which may have come from Fort Knox) resulted in a bank holiday for London banks that had been drained of their gold by voracious demand, thus creating the real potential for a run on the banks.

Based on the foregoing, the elitists reasoned correctly that the removal of the remnants of our gold standard had the potential to create a shortage of gold and the price of gold would then have quickly risen in value as a result, which in turn would have set the inflationary alarm bells off, thus warning of the coming devaluation of the dollar and its potential fall from reserve status. In this manner, without gold backing it, the dollar might have collapsed under the weight of its vast increase in supply to power a world economy, so the elitists had to come up with a reason, other than gold-backing, for people around the world both to want, and to keep up a high demand for, the dollar.

The Illuminati had to make sure that the dollar remained the reserve currency of the world, thus preserving their power, wealth and influence until they were ready to make their big moves toward world government. So, under orders from their Illuminist masters, Kissinger and Nixon took us totally off the gold standard, and instead backed the dollar with oil, which was much more plentiful and which had a far greater overall pool of value that could not be exhausted as quickly as might have occurred with the comparatively tiny gold market. This was done by getting Saudi Arabia to agree to accept only dollars in exchange for their oil. In return, the US agreed to back and provide security for the unpopular and autocratic regimes of the Saudis, and this oil-for-dollars regimen was later adopted by OPEC nations as well, many of whom have pegged their currencies to the dollar.

Immediately after we made this stupid move from gold-backing to oil-backing, the money supply via the Fed and the Treasury exploded in the early 1970's to the very levels of insanity that we are experiencing today, remaining between 8% and 16% until 1985 before being tapered off to zero growth around 1993 after which the money supply exploded again to cover over the real estate debacle and recession of that time and to fund new initiatives for globalization and free trade, such as the WTO, NAFTA and CAFTA.

Despite the size of the oil market, the new explosion of dollars being pumped out prodigiously by the Fed to fund the kickoff of free trade, globalization, off-shoring and outsourcing in earnest in the 1970's led to rampant inflation that peaked out around 14% in 1980-1981 (note that we are currently over 12% by 1980 inflation standards and rising) until Paul Volcker put an end to it with double digit interest rates that sent us reeling into an ensuing recession. This rampant increase in money supply meant a devaluation of the dollar and the cheap oil was being paid for with ever-more-debauched dollars.

So in 1973, OPEC started an embargo, using the support of western powers for Israel during the Yom Kippur War as an excuse or justification to force prices up, as much to make up for the loss in value of the dollar as for revenge, just as they are doing today, but with a little more diplomacy in lieu of an outright embargo. The whole reason for the Yom Kippur War may have had as much to do with low oil prices as it did with revenge for the 1967 Six Day War.

This increase in oil prices actually backfired and was very problematic for OPEC and the elitists because the higher oil prices attracted local oil producers, often referred to as wildcatters, due to the fact that the price of oil had risen above the cost of production for companies working on a smaller scale. These smaller companies could now profitably compete with the foreign oil, and they went after our extraordinarily abundant domestic oil reserves to supply the markets. We have enough oil in Alaska, North Dakota, Montana, Texas, Colorado, Wyoming and the Gulf of Mexico to keep our country flush with oil for many decades without importing a single drop of foreign oil, much of it recoverable for only $16 per barrel.

The reason these local producers were problematic to the elitists was because prior to this development, the Illuminati were able to keep inflation under wraps at home by exporting much of the rampaging supply of debauched dollars overseas in return for foreign oil, as well as for foreign exports of goods, most notably from Japan, which helped create the bubble that destroyed the Japanese economy almost two decades ago. Thus, we quite literally were exporting our inflation to other countries by burgeoning their domestic supply of dollars, and we began doing this all over again since the start of the Clinton Administration via globalization, free trade, off-shoring, outsourcing, trade for foreign oil and illegal immigration. Just ask China and Japan with roughly a trillion each of dollar forex, OPEC countries with hundreds of billions of dollar forex each, and Mexico whose residents receive many billions of dollars every year from illegal Mexican aliens working here in the US. These local oil producers in the 1970's and 1980's were redirecting many of those oil dollars away from the OPEC countries and back into our domestic economy, thus powering inflation at home to rampant levels which also lead indirectly to the S&L crisis of the late 1970's and throughout the 1980's by destroying the value of mortgages held by banks as interest rates started to rise to combat the growing rate of inflation.

So what did the Illuminati do to stop all this domestic oil production from powering inflation? First, Volcker pushed interest rates up into double digits, increasing the cost of loans, which are so necessary in the oil business, thus increasing the cost of production to levels that ruined many smaller concerns. After that, the elitists had their big oil companies and commodities traders drive the price of oil down to below the cost of local production for smaller operators, and even for some of the larger ones for that matter. This ruined the smaller producers who lacked the staying power of the big oil companies. To this day, these smaller producers are afraid to tap our domestic reserves without some kind of guaranty from our government of a floor for oil prices to be set at about $25 per barrel. After peaking at $37 per barrel in 1980, oil dropped to as low as $15 dollars per barrel in 1986 and 1988 and all the way down to $12 per barrel in 1998. This is why, to this day, among various other reasons, much of our domestic oil remains untapped. This is also why many of the drilling and extraction techniques that are finally giving domestic producers access to otherwise tough-to-get oil reserves in recent years were not researched and developed decades ago.

So as you can see, the whole bio-fuel scheme is a total scam to enrich subsidized, elitist bio-fuel producers and to drive up food prices so that large elitist food-related corporations like Monsanto can make filthy rich profits on account of food shortages, subsidies and improper allocations of farmland and food crops while around the world people starve, have food riots and cry out in hunger. Many in our Congress still will not acknowledge their error in approving bio-fuel legislation because they have big political and economic stakes in ethanol and other bio-fuels. These miscreants are an absolute disgrace. Bio-fuels are inefficient, are damaging to engines and are totally unnecessary.

Give the small guys a floor of $25 per barrel and we'll have all the oil we need for decades without importing a single drop of foreign oil. The fact that this did not happen decades ago tells you all you need to know about where your current and past Congresses and Presidential Administrations stand or have stood. They are traitors and cretins of the highest order with precious few exceptions. They are nothing but a pathetic bunch of conniving, elitist bootlickers. The incumbents must all be voted out of office, except for Ron Paul, in order to put a stop to this madness. Otherwise, you will be forced, like our Founding Fathers, to do it the hard way. Prices for food and fuel will not come down unless you, the US citizen, demand in no uncertain terms that your government make them come down.

Robert Chapman is the long time publisher of The International Forecaster, a subscription advisory letter.

From:  newskete@luno.com