For those of you old enough to remember The Doobie Brothers, their fourth album titled “What Were Once Vices are Now Habits” were actually prophetic words.
Ironically (or NOT) the album title reflected the changing lifestyle from the Hippie movement of the 1960s. (Peace, Love, Sex, Rock ‘n Roll, etc.)
Because by 1974 the “vices” of the 60s became habits for the young Hipsters, who, as fate would have it, are many of today’s leaders.
Unfortunately, these “leaders” did not learn much from that era.
Do you remember the Arab Oil Embargo that began in 1973?
It crippled many petroleum-based industries and sent us into a deep recession.
The embargo targeted nations that were perceived as supporting Israel during the Yom Kippur War.
And it eventually led to the US cutting a deal with the Saudis (via Henry “Heinz” Kissinger) to sell all their oil in dollars.
It was the genesis of the “Petro-Dollar.”
Prophetic Words
It was also the launchpad of the vice of corruption among the oil producing countries and the US.
You could say it was a mafia style monopoly. Because if you wanted oil, you had to pay in dollars.
Period.
To prove that point, guys like Saddam and Gaddafi tried to go around selling their oil in dollars and learned that lesson the hard way.
52 years later, the habits of corruption have peaked.
Why?
Massive changes in the oil industry continue to shake up the status quo…and they seem to be flying “under the radar.”
I’m referring to the Saudi’s transition from selling oil in dollars to cutting deals with China and Russia to sell oil in Yuan and Rubles. (They’re also negotiating the sale of oil in gold.)
It’s one of many reasons why gold is still moving up…and Silver is also moving up at a blistering pace
You can’t stop this trend…but you can profit from it.
Read our upcoming January issue of Simplifying Wall Street…in Plain English to learn more (HERE).
Otherwise, you may end up like another Doobie Brothers song “What a Fool Believes.”
Share this with a friend. Even if they don’t remember the Doobie Brothers. They’ll thank YOU later.
And tell them:
We’re Not Just About Finance
But we use finance to give you hope.
“And you shall know the truth, and the truth shall make you free.”
~John 8:32~
