The plot deepens greatly as we learn that the oil, which was property of the Libyan govt, was offered for sale by the rebel pirates. Potential customers included a couple Israelis who flew in on a private jet and took a motor launch to negotiate a deal on board the tanker. The duo, along with another national accomplice, remain in custody in a country where one absolutely doesn't want to find themselves incarcerated.
This is another act of international piracy personally foiled by our president's signature. There were no casualties. Apparently, the crack teams of Navy Seals have gained a reputation that now raises the white flag of surrender on sight. Thank goodness for that, because even though his part in neutering this plot will go totally unrecognized by the GOP, even a minor flesh wound of a US special ops soldier would raise screams for impeachment from the usual sources.
For those here who don't understand why we would be involved in this matter, we have to understand that when we left the gold standard back in the late '60s, our money began being backed by barrels of oil. Before any country can buy crude, they have to convert their currency to what has become known as the Petrodollar. If the flow of oil about the globe becomes hindered in any way, our economy is severely at stake. That's why we're the only country on Earth that needs (or has) nuclear aircraft carriers. Penny ante privateers should not, and can not, be a factor in what that $50 in your pocket can buy in the 21st century.
Like it or not, our individual standard of living is wholly dependent upon standing waist deep in oily crude. We're all Clampetts now.
Any change in how we back our currency will take figuratively as long as the time it takes to turn around a fully laden supertanker, and even then, what can we use to represent the value of our greenbacks? The only thing we seem to have an abundantly reliable national supply of is political hot air and football games. Perhaps the answer for the future of our economy is food. We have the ability to grow a lot of corn and wheat, and everyone on the planet has a need for it in one form or another.
= new reply since forum marked as read