1. PETRODOLLAR AND GOLD
Group members:
Abdul Sattar
Beena Naz
Syed Ghalib
Imad Masood
Zara Nasir
Anum Azhar
Neelum Akhtar

2. Interpretation of verse 60 of Surah al-Kahf
• Where the two seas meet (the sea of practical
knowledge, and the sea of divine knowledge),
and that this intersection where the two overlap
is where true knowledge can be found.

3. About: Sheikh Imran Hosein
• Born in the Caribbean island of Trinidad in 1942.
• Studied at several institutions of higher learning including the
University of Karachi, the University of the West Indies, Al Azhar
University and the Graduate Institute of International Relations in
Switzerland.
• He worked for several years as a Foreign Service Officer in the
Ministry of Foreign Affairs of the Government of Trinidad and
Tobago but gave up his job in 1985 to devote his life to the mission
of Islam.

4. Count…

5. Count…

6. Petrodollar

7. Sheikh Imran Nazar Hosen explains,
• “Oil functioning as Gold” for last 40 years
Last 40 years wickedness & it‟s relation to US Dollar
dominance
• 1973-74 oil boycott & Shah Faisal

8. What are Petrodollars?
• Petrodollar is a United States dollar earned by
a country through the sale of petroleum.
• Coined by Ibrahim Oweiss , a professor of
economics at Georgetown University, in 1973.

9. Inestopedia explains ‘Petrodollars’
• Petrodollars refers to the money that Middle
Eastern countries and members of OPEC receive
as revenue from Western nations and then put
back into those same nations‟ banks.
• For example if Libya were to receive money from
the U.S. for oil and then put the money into a
U.S. bank, that deposited money is referred to as
petrodolalrs.

10. Petrodollar
• The term, petrodollar, should not be confused
with petrocurrency which refers to the actual
national currency of each petroleum exporting
country.
• In addition to the United States petrodollar, a
petrodollar can also refer to the Canadian
dollar in transactions that involve the sale
of Canadian oil to other nations.

11. Petro euro
• A petroeuro is a petroleum trade valued in the
euro as opposed to the US dollar (a petrodollar).
• OPEC may choose dollar, euro, yen, or any
currency providing perceived advantage,
politically or economically

12. What is Petro Dollar Recycling?
• Petrodollar
"recycling" refers to
the $ reflows to the
rest of the world
that result from the
use oil-exporting
countries (mainly
OPEC countries)
make of their oil
receipts

13. Presentation by Saleh M. Nsouli
Director, Offices in Europe
International Monetary Fun
AT the CESifo‟s International Spring Conference
Berlin, March 230-24, 2006

14. Historical review of the term
“petrodollar”

15. OPEC
• Formed at a meeting held on
September 14, 1960 in
Baghdad, Iraq, by five Founder
Members: Iran, Iraq, Kuwait,
Saudi Arabia and Venezuela.
• Algeria,Angola,Ecuador
,Iran ,Iraq ,Kuwait ,Libya
,Nigeria,Qatar, Saudi
Arabia ,United Arab
Emirates,Venezuela
• OPEC is the biggest and the
most successful cartel in the
world.

16. • Few years later, French demanded redemption of its
paper-dollar holdings in gold. But the USA rejected
as it actually didn't have enough gold for the dollars
it had already printed and spent all over the world,
thus committing an act of bankruptcy.

17. Reserves
Saudi oil Iran’s total oil
reserves are the Venezuela is
second with reserves are
largest in the
world, estimated total oil reserves estimated of 138
to be around 264 at 172 billion billion barrels
billion barrels, barrels at the and production
25% of world oil end of 2009 amounts to 2.4
reserves. million barrels per
day.

18. History
• Nixon Shock made USD a fiat
currency posed a great threat
to the US as its supremacy as a
reserve currency
• In 1971,US made a secret deal
with the Saud‟s to keep selling
the oil in US dollars and invest
a certain percent in T- bills. In
return, the Americans
provided the Saudis with
military support and special
voting rights in the IMF

19. So the USA went to the Saudis and cut
a deal – OPEC denominate all sales
of oil in US dollars.

20. Since the agreements of 1971 and
1973[1], OPEC oil is exclusively
sold in US dollars.

21. • The Americans laid out their
terms. They were simple, and
two-fold.
• The Saudis must agree to price
all of their oil sales in U.S.
dollars only. (In other words,
the Saudis were to refuse all
other currencies, except the
U.S. dollar, as payment for
their oil exports.)
• The Saudis would be open to
investing their surplus oil
proceeds in U.S. debt
securities.

22. Why petro against dollar for US?
• The petrodollar system has proven beneficial to
the U.S. economy.
• It increases global demand for U.S. dollars
• It gives the United States global demand for U.S.
debt securities
• The ability to buy oil with a currency it can print
at will.

23. Result of Petrodollar warfare: Ditching
the Dollar for Gold
• Petrodollar warfare
• Consistent demand for the US Dollar
• Higher budget & sustainability for US
• Stronger Dollar (US)
• Price of petrol is more stable

24. Concept of Foreign aid due to
Petrodollar introduction
• Arab oil-exporting countries also used their surpluses to
fund foreign aid programs, with Arab nations being one
of the largest donors of foreign aid since 1973.
• . The IMF also introduced a new lending facility during
this period called the Oil Facility

25. Petrodollar warfare
• The phrase petrodollar warfare refers to a hypothesis that one of the
driving forces of United States foreign policy over recent
decades[when?] has been the status of the United States dollar as
the world's dominant reserve currency and as the currency in which
oil is priced.
• . The term was coined by William R. Clark, who has written a book
with the same title.
• The phrase oil currency wars is sometimes used with the same
meaning.

26. Dubai as an example of petrol’s
worth

37. So come on.
What are you
waiting for ?
You can’t let all
the workers
run out of a
job.

38. Just keep
on filling
up your
petrol
tanks.

40. Present

41. Iraq
• In 2002 Saddam Hussein
decided to sell oil against euro
instead of dollar.
• Americans waged a war
against Iraq to revert sales of
oil back to dollar.

42. Libya
• Wanted to replace the
petrodollar against petro gold
system.
• Planning to introduce the gold
dinar.
• The gold dinar would have
given middle eastern and
African countries to turn
around to the US dollar.

43. Iran
• Iran and Russia announced
they would trade using their
own domestic currencies as
opposed to the U.S. dollar.
• India‟s choice to pay for
Iranian oil with gold will push
gold even higher while keeping
the value of the dollar on a
steady decline.
• Iran’s total oil reserves are
estimated of 138 billion barrels
and production amounts to 2.4
million barrels per day.

44. Iran & Venezuela joins hands together

45. Venezuela

46. Iranian Oil Bourse
“This notion that the United States is getting ready
to attack Iran is simply ridiculous ...Having said
that, all options are on the table.”
– President George W. Bush, February 2005
Military operations against Iran relate to the
macroeconomics of „petrodollar recycling‟ and the
unpublicized but real challenge to U.S. dollar supremacy
from the euro as an alternative oil transaction currency.

47. India
• India signed an agreement
with Iran to buy oil against
gold instead of US dollar.
• Following the foot steps of
India china also looks forward
to buy oil against gold which
would decrease the value of US
dollar and increase the value
of gold.

48. Russia
• Russia's gold backed currency challenged the
dollar
• Post cold war era.

49. Future

50. Result of Petrodollar warfare: Ditching
the Dollar for Gold
• Petrodollar warfare
• Consistent demand for the US Dollar
• Higher budget & sustainability for US
• Stronger Dollar (US)
• Price of petrol is more stable

51. 21ST CENTURY SLAVERY

52. An introduction into the international
monetary and economic system
enslaving the world. What lies ahead?
• Shaykh Imran Hosein is a leading, world-renowned Islamic
Philosopher, Scholar and author, specializing in world politics,
economy, eschatology, and modern international relations. He has
studied Islam, Philosophy and International Relations at several
universities and institutions of higher learning, including al-Azhar
University in Cairo, the University of the West Indies in Trinidad,
the University of Karachi and the Aleemiyah Institute of Islamic
Studies in Karachi, and the Graduate Institute of International
Studies in Geneva. He is the best-selling author of Jerusalem in the
Quran.
• http://www.kn-ow.com/watch?v=20120121-Imran-Nazar-Hosein

53. Islam. The Petro-Dollar And Beyond
• Monetary collapse
• Leads to economics collapse
• Masses leads to poverty &
slavery

54. The Gold Dinar & Silver Dirham:
Islam and the future of Money

55. World War III or Armageddon War
• That will be the end of the American Empire,
the end of funding for the US military and the
destruction of the US economy.
• The great scam is coming to an end and
there's not a lot that the USA can do about it,
except start another world war!!!
• Wait and Watch… Only few years/months
ahead.

56. References
1. A New American Century? Iraq and the hidden euro-dollar wars by F. William Engdahl
The URL of this article is: http://globalresearch.ca/articles/ENG401A.html
2. THE GOLD DINĀR AND SILVER DIRHAM: ISLAM AND THE FUTURE OF MONEY by
Sheikh Imran Nazar hosein
3. Preparing for the Collapse of the Petrodollar System by Jerry Robinson
4. The Rise of the Petrodollar System: "Dollars for Oil" by Jerry Robinson
5. The Petrodollar Wars: The Iraq-Petrodollar Connection by Jerry Robinson
6. ISLAM, THE PETRO-DOLLAR AND BEYOND by Sheikh Imran Nazar hosein
http://www.imranhosein.org/articles/islam-and-money/418-islam-the-petro-dollar-and-
beyond.html?showall=1

57. 7. India abandons US dollar to purchase Iranian oil
http://www.youtube.com/watch?v=6u7KnXyrKmQ
8. Petrodollar Recycling And Global Imbalances Presentation by
Saleh M. Nsouli1 Director, Offices in Europe International Monetary Fund
At the CESifo's International Spring Conference Berlin, March 23-24,
2006
http://www.imf.org/external/np/speeches/2006/032306a.htm
9. Result of petrodollar warfare: Ditching the Dollar for GOLD! by
leveragemarketers | on September 12, 2012
http://www.empowernetwork.com/leveragemarketers/blog/result-of-
petrodollar-warfare-ditching-the-dollar-for-gold/

58. Video Referencing
1. http://www.youtube.com/watch?v=8T9ICWOYC
NQ
2. http://www.youtube.com/watch?v=KK6IVDtvzjk
3. http://www.youtube.com/watch?v=713lC9wh4_U
4. http://www.youtube.com/watch?v=wha9lTKN7Zg
5. Ron Paul: The PetroDollar - Part ¼
http://www.youtube.com/watch?v=SxVZ945JR5g