Reddit reviews The Hidden Hand of American Hegemony: Petrodollar Recycling and International Markets (Cornell Studies in Political Economy)

Here

http://www.amazon.com/Hidden-Hand-American-Hegemony-International/dp/080142884X

The Hidden Hand of American Hegemony: Petrodollar Recycling and International Markets

Everyone forgets that in the 60's Israeli were the nutjobs and Saudi were our BFFs !!!

>Come on now. You dont think Pahlavi had anything to do with it? You dont think he was colluding? He just somehow landed into power again by chance?

Of course he might have also wanted to be in power. But the US and UK had much more interest in having the Shah back in place to keep business as usual. Operation AJAX was a foreign operation, not an inside job. They had a big interest in keeping oil prices down. But since prices of other commodities increased by more than 400% it was not possible for Iran and other OPEC members to keep it that way.

>Also, you fail to mention that all members of OPEC started upping the price in the 70s....not just the Shah. In fact, it was Saudi Arabia leading the way, and Iran following.

Sorry, but stop pretending that you know anything about the 70s economics. It's so wrong in so many places. Just read the article that was mentioned a while ago. Saudi Arabia did the opposite, they did not increase the oil price vote and started to pump more and caused a crash in oil prices.

>As I said, Saudi Arabia upped the price, but the US didnt overthrow them, did they?

I think the discussion is over for me. You have no clue about economics in the 70s. I did my master thesis regarding the oil crisis in the 70s. It is a fascinating time in so many levels. But what you are saying is utterly wrong. Saudi Arabia did not vote for a price hike and unilaterally flooded the market. They betrayed the OPEC cartel.

>In fact, the raising of oil prices benefited the US most of all. All the money was in dollars which boosted their economy and currency to make it the worldwide standard. Not only that, all the extra money the OPEC members were making was sent right back to American banks so American companies could use it to invest in their businesses and give predatory loans abroad. Its called Petrodollar Recycling.

Dude, stop with that BS. Iran did not invest in US bonds. Iran invested those oil revenues domestically or in US military equipment. But US bonds? Wrong. It was even wrong from Iran to invest oil revenues directly in the country, which caused a massive inflation. Read about the Dutch Disease.

Saudi Arabia started as of the late 70s with US bonds. You did not even understand the link about Petrodollar Recycling. Please read the book: The Hidden Hand of American Hegemony. US bonds were a topic as of the late 70s to get the money back from oil-producing countries. This is what Saudi Arabia is doing for the last 40 years and accumulated around $170 billion dollars in US bonds, and around $750 billion in US assets.

>So not only did it help boost the US economy, it also helped US dominate weaker economies in the Global South (who actually struggled with higher oil prices) and force them into roles of dependency on US loans (money which came from OPEC members excess oil money).

WTF, you have no clue about economics. Now it is clear. The US was 70% dependent on OPEC oil during the 70s. It caused the oil crisis during '73 and later in '79. If the oil price increases it has a negative effect on the economic growth. This is economics 1+1. Whenever the price of oil jumped, importing nations needed to adjust/lower their economic growth forecast. For example when the oil price increased by more than 380%. The US and western economies were suffering.

And why the hell are you talking about Global South?! The Global South is able to produce oil! They were not struggling due high oil prices. Stop with your Bullshit. You are telling so many lies or sciolism that is even worse than fake news.

Educate yourself, please!

If you are trying to reply, back your statements with sources.

There are far better pieces of literature than a state funded propaganda newspaper to gain knowlegde about such matters.

You will find that the most informative and insightful articles and books are written by...American authors.

quick examples:

Iran China relations

US petrodollar hegemony

Stop being pretentious...there might be a lot of criticism on Western journalism, but it's still the best the world has to offer. Iranian and Russian political "news" is nothing more than pure dishonest propaganda. You would be a fool for believing otherwise.