For those of you old enough to remember The Doobie Brothers, you’ll recall their fourth album titled “What Were Once Vices are Now Habits.”
The album title reflected the changing lifestyle from the Hippie movement of the 1960s. (Peace, Love, Sex, Rock ‘n Roll, etc.)
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” didn’t 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.
It eventually led to the US cutting a deal with the Saudis (via Henry “Heinz” Kissinger) to sell all of their oil in dollars.
It was the genesis of the “Petro-Dollar.”
It was also the launchpad of the vice of corruption among the oil producing countries and the US.
If you wanted oil, you had to pay in dollars.
44 years later, the habits of corruption have peaked. 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.)
You can’t stop this trend…but you can profit from it.
Read our 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.”