Branding "Cool"
What's YOUR Identity?
Politics turned Parody from within a Conservative Bastion inside the People's Republic of Maryland
The intersection of Mongolia's copper mining sector and the Open Society Foundations (OSF) (and its local chapter, the Open Society Forum) primarily centers around the massive Oyu Tolgoi copper and gold mine. [1, 2]The connection involves two main narratives: official advocacy for mining transparency, and viral political commentary regarding the mine's original deal.1. Transparency Advocacy (The Open Society Forum)In Mongolia, the Open Society Forum operates as a prominent civil society organization focused on governance and anti-corruption.
- Beneficial Ownership: The organization pushes for strict transparency regarding who ultimately owns and profits from mining licenses. Representatives from the Forum actively advocate for Mongolia to adhere to international standards, such as the Extractive Industries Transparency Initiative (EITI), to prevent conflicts of interest and corruption in the resource sector. [1]
- Contract Secrecy: The Forum and allied civil society groups have historically pushed for the disclosure of hidden state mining contracts. For many years, Oyu Tolgoi was the only mega-project in the country with a publicly available central government contract. [1]
2. Media Commentary and Viral ClaimsA viral narrative popularized by conservative political commentators, such as Tucker Carlson, claims that George Soros and the Open Society Foundation intervened in the early Oyu Tolgoi deal. According to these claims, OSF leveraged local environmental NGOs and parliament members to frame the original deal as predatory toward the Mongolian government. The commentary alleges that the resulting political instability delayed the signing, after which associated funds allegedly bought into the project's ownership structure. [1]The Status of the MineToday, Oyu Tolgoi is one of the world's largest copper operations. It operates as a joint venture: [1]
- The Government of Mongolia holds a 34% stake.
- Rio Tinto holds the remaining 66% stake and manages operations. [1]
The mine expanded its underground operations, positioning it to become the world's fourth-largest copper mine by 2030. However, the project remains a point of deep political contention in Mongolia. The Mongolian government regularly pushes Rio Tinto to renegotiate the commercial terms, citing lopsided interest rates on shareholder loans and public pressure from resource-nationalist protests demanding a higher return for citizens.
In 18th-century colonial America, prominent figures like Benjamin Franklin questioned whether Germans were truly white, viewing them as having a "swarthy" complexion that threatened the Anglo-Saxon character of the colonies. However, this rhetoric reflected cultural and political anxiety rather than a legal exclusion from whiteness. [1, 2, 3, 4]Franklin's Views on German Complexion
- In his 1751 essay Observations Concerning the Increase of Mankind, Peopling of Countries, etc., Benjamin Franklin claimed that most Europeans—including Spaniards, Italians, French, Russians, and Germans—were "swarthy".
- He asserted that only the English and the Saxons made up the "principal Body of White People on the Face of the Earth".
- Franklin worried that Pennsylvania would become "Germanized" and that German settlers would not adopt English customs or language. [1, 2, 3, 4]
Legal Status and Realities of Whiteness
- Despite Franklin's cultural xenophobia and complaints about their "complexion," Germans were never legally classified as non-white.
- They enjoyed the rights of free Europeans, could own property, and were fully eligible for naturalization under early colonial laws and later the Naturalization Act of 1790, which restricted citizenship to "free white persons".
- The social friction was rooted in language, political power, and cultural assimilation fears rather than a systematic denial of racial privilege. [1, 2, 3, 4]
If you'd like, I can provide more details on:
- How the Naturalization Act of 1790 defined whiteness for European immigrants
- Benjamin Franklin's broader economic and political arguments against German settlement
- How 19th-century nativist movements later targeted other European groups like the Irish or Italians.
The United States ended domestic gold use in 1933 under President Franklin Roosevelt, and fully severed international gold convertibility on August 15, 1971, under President Richard Nixon during the Nixon shock, transforming the U.S. dollar into a pure fiat currency.
A 1974 agreement between the United States and Saudi Arabia established a strategic framework to anchor global oil trade in U.S. dollars and recycle Saudi capital into American debt. The arrangement combined a public agreement focused on economic cooperation and modernization with confidential financial terms involving exclusive dollar-denominated oil pricing and U.S. military backing.However, the connection between oil and the dollar—often called the "Petrodollar" system—did play a massive geopolitical role in maintaining the dollar's dominance after the gold standard collapsed.The Petrodollar System vs. A Commodity StandardWhile oil never legally backed the currency, a strategic arrangement effectively replaced gold's utility in driving global demand for dollars.Feature Gold Standard (Pre-1971) The Petrodollar System (Post- 1974)Legal Backing Direct. The U.S. government waslegally obligated to exchangedollars for physical gold. None. The dollar remains a pure fiat currency with no physical redemption option.Global Demand Mechanism Foreign central banks
held dollars because they
were "as good as gold."
Foreign nations must buy dollars because global oil is priced and settled exclusively in U.S. dollars.The Agreement Established internationallyvia the Bretton Woods System.Formed via a private 1974 deal between the U.S. and Saudi Arabia.How the Petrodollar System WorksFollowing the Nixon shock, the U.S. needed a way to ensure global demand for a fiat dollar wouldn't collapse.
- 1. The 1974 Deal: The U.S. and Saudi Arabia struck a deal. The U.S. provided military protection and hardware to the Saudis. In exchange, Saudi Arabia agreed to price all of its oil exports exclusively in U.S. dollars.
- 2. OPEC Followed: As the leader of OPEC, Saudi Arabia's move forced the rest of the oil-producing nations to standardize oil pricing in dollars.
- 3. Artificial Global Demand: Because every industrialized nation requires oil, every country suddenly needed to build up massive reserves of U.S. dollars just to keep their economies running.
- 4. Petrodollar Recycling: Oil-exporting nations accumulated massive dollar surpluses. They channeled these excess dollars back into the U.S. financial system by purchasing U.S. Treasury bonds, which effectively financed American government debt.
The Bottom Line
While the petrodollar system created a structural requirement for the world to hold dollars—acting as an economic anchor similar to gold—the dollar itself is unbacked. It is a fiat currency dependent entirely on global trust in the United States financial and legal framework.
The Petro-dollar Agreement
The 1974 agreement between the United States and Saudi Arabia established a strategic framework to anchor global oil trade in U.S. dollars and recycle Saudi capital into American debt. The arrangement combined a public agreement focused on economic cooperation and modernization with confidential financial terms involving exclusive dollar-denominated oil pricing and U.S. military backing.The framework established on June 8, 1974, is most commonly referred to as the Petrodollar Agreement (or the U.S.–Saudi Petrodollar Deal).However, because the core currency-for-oil mechanics were largely negotiated quietly by Secretary of State Henry Kissinger and Treasury Secretary William Simon, the official, legally binding document signed by both nations was formally named the United States–Saudi Arabian Joint Commission on Economic Cooperation. At the exact time of its signing, the media also widely dubbed it the "Milestone Pact".If you want to continue exploring this topic, let me know:
- Would you like details on the secret components of the deal that weren't made public at the time?
Secret ComponentsThe public 1974 agreement looked like a standard economic modernization pact, but a highly sensitive shadow negotiation occurred in July 1974. Newly appointed U.S. Treasury Secretary William Simon (a former Wall Street bond trader) traveled to Jeddah to secure a deal directly with the Saudi Arabian Monetary Agency (SAMA).King Faisal bin Abdulaziz Al Saud agreed to the petrodollar loop under one non-negotiable condition: the kingdom’s financial footprint in America must remain strictly secret.Because of this condition, the multi-decade arrangement included several notable secret components:1. The Treasury "Add-on" Loophole (Bypassing Auctions)
To allow Saudi Arabia to invest its billions without alerting the public or global markets, the U.S. Treasury created a special back-door mechanism called "add-ons."• Instead of buying U.S. Treasury bonds through competitive open-market auctions like every other country, the Saudis were allowed to purchase them privately.• The Treasury simply printed "extra" unpublicized securities for the Saudis, hiding all traces of Riyadh’s growing ownership of American government debt from official auction totals.2. Complete Data Camouflage
To protect Saudi anonymity, the U.S. Treasury combined Saudi financial data with a generic group of "Oil-Exporting Nations" in its monthly reports. For 41 years, the exact breakdown of how many hundreds of billions of dollars the Saudi regime held in American debt was a fiercely guarded state secret, known only to a small circle of Treasury and Federal Reserve officials. It wasn't until a Freedom of Information Act request forced a disclosure that the true scope of the holdings was made public.3. Regional and Religious Deniability
The secrecy was also an absolute necessity for Saudi regional politics.• The Israel Conflict: Following the 1973 Yom Kippur War, public perception that Saudi oil wealth was directly funding the United States—Israel’s primary ally—would have caused severe geopolitical blowback across the Arab world. King Faisal heavily feared that the Arab world would view Saudi money as "indirectly" funding American aid to Israel.• Religious Constraints: Earning massive interest on Western financial debt conflicted with orthodox Islamic laws (Riba) against usury. Hiding the exact nature of the investment vehicles helped the Saudi monarchy maintain regional and domestic stability.4. The Shield Against "Debt Weaponization"By keeping the numbers secret, the U.S. insulated itself from the domestic political pressure of relying on an authoritarian regime to finance its budget deficits (by 1977, Saudi Arabia held roughly 20% of all foreign-held U.S. Treasuries). Simultaneously, it protected the Saudis from being targeted or pressured by hostile foreign powers who might track their financial vulnerabilities