After World War II people around the world thought that it was last major war on Earth. This does not look appearing now.
In 1944 major countries of world sat in New Hampshire (Bretton wood conference) to declare Dollar as a world currency backed by gold (Gold Standard).US had reserve gold to print paper money. US started printing money and were enjoying it from 1945 to 1965 everything was fine but in 1965 US had war with Vietnam and in the effect of war the US economy started to tumble.
Until 1970 US was printing more and more dollar to overcome financial crisis. This made countries to start disbelieving in dollar and ask for gold in return of dollar.US had printed more dollar than gold it had. Redeem of gold would have destroy US economy. Therefore, US president Nixon ended gold back dollar and started printing more and more dollar to strengthen the economy. Dollar value in international market was gradually plunging as it was only paper money not backed by gold.
Nixon took a very smart move, went to Arabs and asked to take dollar in exchange of oil. US also promised to give protection and weapons (This is called Petro-Dollar system). This was the first seed sown for the current war. Other OPEC members (Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, United Arab Emirates and Venezuela) also followed Saudi Arabia exchange policy. US economy started to emerge but other countries (China and Japan etc) had to make export oriented policies to get dollar to purchase oil.US economy is like a vehicle which cannot run without oil.
In 1999 enemy of Dollar had come into the picture "Euro". In 2000 Iraqi president (pro Russia-China) Saddam Hussain decided to sell oil in Euro. This assured his death warrant. US economy (dollar) might derail if Iraq and other OPEC members follow it. Therefore in 2003 Bush invaded Iraq on the pretext of chemical weapons to save the dollar and destroy the entire country .After Saddam, Iraq again started selling oil in dollar. Libya's Gaddafi declared using gold Dinar in exchange for oil in 2010. He also tried to form an African union and was planning to launch a satellite which was going to serve African nations. Gaddafi's step was against US and European nations who have been sucking the entire Africa continent for years. So US and EU invaded Libya and killed Gaddafi.
Syria moved away from the dollar in 06 and Iran in 08. Now US has to keep Russia and China away from natural resources (oil and natural gas) and has to compete Euro/Yuan/Rubel as well. Today the US-backed wars in Ukraine and in Syria are but two fronts in the same strategic war to cripple Russia and China and to rupture any Eurasian counter-pole. Natural gas has become the favored “clean energy” source for the 21st Century and the EU is the world’s largest growth market for gas, a major reason US wants to break the Russia-EU supply dependency to weaken Russia and keep control over the EU via loyal proxies like Qatar.
The world’s largest known natural gas reservoir sits in the middle of the Persian Gulf straddling part in the territorial waters of Qatar and part in Iran. China signed an agreement with Iran to develop gas pipeline infrastructure to bring the gas to China.
To be continued….