Bill Arnold wrote: > >> It wouldn't matter to us much if they didn't control a commodity that >> the whole world has developed a dependence on. >> Oil >> When OPEC decided to flex their muscle in the mid 70's, it sent shock >> waves through out the entire world economically speaking. Double >> digit inflation, double digit unemployment and the deepest economic >> problems that the U.S. had faced since the great depression. > > > Yup, that really sucked. >
You seem to forget that was due to the fact that USA broke the Bretton Woods agreement which stated that dollar was to be tied to gold reserves in USA. The dollar stopped being backed by gold, it started devaluating and the OPEC took action. _______________________________________________ Post Messages to: ProFox@leafe.com Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
