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1970: Saudi Arabia warns USA that further supply of Israel with weapons may lead to an oil embargo.
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'''The Brotherhood of Saint Sophia''' existed from 1919 to 1944 (dates vary according to source) and was headed by the Russian Orthodox Archpriest Fr. [[Sergei Bulgakov]]. N.D. Talberg named the following persons as members of the Brotherhood: Sergei Bulgakov, A.V. Kartashev, S.S. Bezobrazov, N.A. Berdyaev, V.V. Vysheslavtsev, S.L. Frank, V.V. Zenkovsky, Prince G.N. Trubetskoy, and P.V. Struve.<ref>[ N.D. Talberg, Dvuglavyi Orel (The Double-headed Eagle) No. 4, pp. 7-8; "Vozbuditeli Raskola", (The Instigators of Schism), pp. 12-13, publ. by Doloi zlo (Away with Evil), Paris, 1927. (Quoted from: Bp. Gregory Grabbe, "The Church and its Teaching in Life", Jordanville, 1992, v. 3, p. 947.) </ref>
  
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1971: After the embargo ("oil shock") Nixon threatens Saudi Arabia with military intervention.  
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A.V. Kartashev composed the “Provisional Charter for the Brotherhood of St. Sophia — Holy Wisdom” which was approved in 1918 by Patriarch Tikhon. The Brotherhood’s aim was to help unite Orthodox Christians, particularly through fostering fraternal relationships between Russian Orthodox thinkers, via preaching, teaching and engaging in cultural initiatives. It was a hierarchical religious society quite unique in the Orthodox Christian world in that it closely resembled Catholic religious orders. It was three-tiered, consisting of brothers-novitiates, brothers-disciples, and brothers-elders, bonded together by a common religious vow. The Brotherhood’s leadership Council was composed of twelve brothers-elders. Bulgakov was elected as Council Chairperson and Zenkovsky elected as Council Secretary.<ref>[M. A. Kolerov (1995) The Brotherhood of St. Sophia, Russian Studies in Philosophy, 34:3, 26-61]</ref>
  
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==Petrodollar==
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The Russian-French theologian Fr. Sergius Bulgakov was an extremely influential figure in the [[Eastern Orthodox]] resurgence among Russian intellectuals at the start of the 20th Century and was largely responsible not just for the Brotherhood’s formation, but also its continuation. He was trained as a political economist, and was a Marxist at first, then an Idealist, and finally an Orthodox believer. He was ordained a priest in 1918. Eventually forced out of Russia, he then took up residence in France and taught at the St. Sergius Institute in Paris. His theological speculations on Divine Wisdom became known as [[Sophiology]] and provoked heated discussion. Never prevailing in Orthodox circles, even in France where Bulgakov’s influence was greatest, Sophiology was eventually condemned as heretical by the Moscow Patriarchate in 1935.<ref>[decree of Moscow Patriarchate dated 24 August, 1935, No.93]</ref>  For Bulgakov the [[Theotokos]] St. Mary was the world soul and the “Pneumatophoric hypostasis”, a Bulgakov neologism.<ref>[Walter Nunzio Sisto The Mother of God in the Theology of Sergius Bulgakov: The Soul of the World, Routledge (2017)]</ref> [[Imiaslavie]] was another controversial theological view within the Orthodox world which Bulgakov and other members of his Brotherhood defended and promoted. It is ironic that the Brotherhood’s efforts to create unity within Orthodoxy through devotion to Holy Wisdom and the Holy Name actually resulted in divisiveness and heresy accusations. Bulgakov’s ideas were eventually well received by some notable Catholics however who integrated them into their own thought, such as Cardinal [[Hans Urs von Balthasar]] and [[Valentin Tomberg]], among others.
  
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Agreements 1973-75 betweeen the OPEC Cartel members and USA offering weapons, infrastructure<ref>http://ftmdaily.com/wp-content/uploads/2012/03/US-Saudi-Arabian-Joint-Commission-on-Economic-Cooperation.pdf</ref> and military protection especially from Israel, if in turn they sell *only* for dollars and - importantly - reinvest their petrodollars in U.S. debt securities held in Western banks.  
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On June 11, 2018 a fellowship inspired by the Brotherhood of Saint Sophia formed calling itself The Brood of Holy Wisdom. According to its social media site it is a [[transodox]] form of [[new monasticism]] open to all genders rather than an Eastern Orthodox Christian Brotherhood. It’s focus, like the original Brotherhood of Saint Sophia, is upon deepening appreciation for and fostering kinship through the love of Holy Wisdom, working together as a Sophiologically centered spiritual community.
  
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The petrodollar system provides at least three immediate benefits to the United States:
+
== Bibliography ==
  
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* It increases global demand for U.S. dollars
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*Katerina Clark and Michael Holquis ''Mikhail Bakhtin'', Belknap Press (1985)
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* It increases global demand for U.S. debt securities
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*Erwin Fahlbusch Jan Milic Lochman, John Mbiti, Jaroslav Pelikan (Editors) ''The Encyclopedia Of Christianity Volume 5'', Eerdmans (2008)
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* It gives the United States the ability to buy oil with a currency it can print at will
+
*Paul L. Gavrilyuk ''Georges Florovsky and the Russian Religious Renaissance (Changing Paradigms in Historical and Systematic Theology)'', Oxford Univ. Press (2015)
−
 
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*M. A. Kolerov (1995) “The Brotherhood of St. Sophia”, Russian Studies in Philosophy, 34:3, 26-61
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<ref>http://ftmdaily.com/preparing-for-the-collapse-of-the-petrodollar-part-2/</ref>
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*Ludmilla Perepiolkina ''Ecumenism: A Path to Perdition'', Ludmilla Perepiolkina (1999)
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<ref>http://inflationdata.com/articles/2014/05/30/oil-petrodollars-gold/</ref>
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*Katy Leamy ''The Holy Trinity: Hans Urs Von Balthasar and His Sources'', Pickwick (2015)
−
 
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*Marc Raeff ''Russia Abroad: A Cultural History of the Russian Emigration, 1919-1939'' Oxford Univ. Press (1990)
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Secondary benefits include:
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*Svein Rise (Author), Staale Johannes Kristiansen (Editor) ''Key Theological Thinkers: From Modern to Postmodern'', Routledge (2013)
−
 
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*Walter Nunzio Sisto ''The Mother of God in the Theology of Sergius Bulgakov: The Soul of the World'', Routledge (2017)
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* Exploitation of lesser developed 'oil shocked' economies (IMF)
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*Anonymous [but known to be Valentin Tomberg], Robert Powell (Translator), Hans Urs von Balthasar (Afterword) ''Meditations on the Tarot: A Journey into Christian Hermeticism'', TarcherPerigee (2002)
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* Interest earning and increased leverage in the Eurodollar market
 
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* Hot money for speculation and currency attacks
 
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==Key Citations==
 
−
 
 
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http://faculty.georgetown.edu/imo3/petrod/petro2.htm
 
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Petrodollars: Problems and Prospects
 
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by
 
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Dr. Ibrahim M.Oweiss
 
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Address before the Conference on The World Monetary Crisis
 
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Arden House, Harriman Campus, Columbia University
 
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March 1 - 3, 1974
 
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First, the placement of petrodollar surpluses of the Arab oil exporting nations in the United States may be   
 
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regarded politically as hostage capital. In the event of a major political conflict between the United
 
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States and an Arab oil-exporting nation, the former with all its military power can confiscate or freeze
 
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these assets or otherwise limit their use. It can impose special regulations or at least use regulations for
 
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a time, in order to attain certain political, economic, or other goals. It may be argued that such actions
 
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are un-American, since they are a direct violation of the sacred principles of capitalism and economic
 
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freedom. Nevertheless, the U.S. government resorted to such weapons twice in the l980s against Iranian and
 
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Libyan assets. It follows, therefore, that governments placing their petrodollar surpluses in the United 
 
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States may lose part of their economic and political independence. Consequently, the more petrodollar
 
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surpluses are placed in the United States by a certain oil-exporting nation, the less independent such a
 
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nation becomes.
 
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It is worth noting that the difference between the volume of oil actually supplied and the volume that
 
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should have been supplied in observance of standard microeconomic theory is in fact a subsidy granted, in
 
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real terms, to oil-importing nations such as the United States, Germany, France, and Japan.1
 
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The process of petrodollar recycling makes it possible for commercial banks of industrialized nations,
 
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international lending institutions, and Arab banking consortia to provide financial assistance to
 
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less-developed countries (LDCs). Western Europe, Japan, and the United States buy oil from oil-exporting
 
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countries (OECs). LDCs pay for oil imports and other foreign goods and services with money borrowed front
 
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Western commercial banks. The process of recycling is complete when those commercial banks and institutions
 
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obtain cash and investments from OECs.
 
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http://www.globalresearch.ca/the-real-reason-russia-is-demonized-and-sanctioned-the-american-petrodollar/5402592
 
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in 1973 the Richard Nixon administration began negotiations with the government of Saudi Arabia to establish 
 
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what came to be referred to as the petrodollar recycling system. Under the arrangement, the Saudis would 
 
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only sell their oil in U.S. dollars, and would invest the majority of their excess oil profits into U.S.
 
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banks and Capital markets. The IMF would then use this money to facilitate loans to oil importers who were
 
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having difficulties covering the increase in oil prices. The payments and interest on these loans would of  
 
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course be denominated in U.S. dollars.
 
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This agreement was formalised in the “The U.S.-Saudi Arabian Joint Commission on Economic Cooperation” put
 
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together by Nixon’s Secretary of State Henry Kissinger in 1974. The system was expanded to include the rest
 
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of OPEC by 1975. This was a major economic success for the U.S. As long as the world needs oil, and as long
 
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as oil is only sold in U.S. dollars, there will be a demand for dollars, and that demand is what gives the 
 
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dollar its value.
 
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The petrodollar is the only life support machine left for the U.S. and this is precisely why Washington goes 
 
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after any country that tries to destroy it.
 
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Engdahl, Century of War, p.162ff
 
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The dynamic created by the Anglo-American decoupling of the
 
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dollar from gold in August 1971, followed by the 400 per cent forced
 
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inflation of the price of oil, had created a catastrophe for the majority
 
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of the world’s population who lived in the developing sector.
 
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Under the threat of losing access to further borrowings from the
 
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World Bank and the private banks of the industrial nations, these
 
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less-developed countries were forced to divert precious funds from
 
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industrial and agricultural development into simply reducing this
 
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balance-of-payments deficit. Their oil imports had to be paid, and
 
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paid in dollars, while the cost of their raw materials exports had fallen
 
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sharply in the global recession of 1974–75.
 
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Private U.S. and European banks stepped into the breach [...]
 
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David Mulford, at the time the head of White
 
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Weld & Co.’s London Eurodollar operations, was appointed director
 
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and principal investment adviser of the Saudi Arabian Monetary
 
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Agency (SAMA), the central bank of Saudi Arabia, the largest OPEC
 
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oil producer and a country dominated by American Big Oil.
 
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Little publicity was given to this rather unusual appointment of a national
 
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of the country against which Saudi Arabia had only months earlier
 
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enjoined an oil embargo.
 
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Along with White Weld, SAMA enjoyed
 
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the confidential investment advice of the elite London merchant
 
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bank, Baring Brothers.
 
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The U.S. Treasury had signed an agreement
 
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in Riyadh with the Saudi Arabian Monetary Agency, whose mission
 
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was ‘to establish a new relationship through the Federal Reserve Bank
 
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of New York with the [U.S.] Treasury borrowing operation. Under
 
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this arrangement, SAMA will purchase new US Treasury securities
 
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with maturities of at least one year,’ explained assistant secretary
 
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of the U.S. Treasury, Jack F. Bennett, later to become a director of
 
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Exxon. Bennett’s memo explaining the arrangements was dated February 1975
 
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and addressed to Secretary of State Kissinger.4
 
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This arrangement, needless to say, proved enormously valuable
 
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for the United States dollar and for the fi  nancial institutions of New
 
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York and the London Eurodollar markets. The world was forced to
 
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buy huge amounts of dollars more or less continuously, in order
 
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to purchase essential energy supplies. Even more extraordinary,
 
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this OPEC dollar-pricing agreement remained in force despite the
 
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subsequent enormous losses to OPEC as the dollar gyrated up and
 
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down through the next decade and more.
 
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One consequence of the directed recycling of these petrodollars
 
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into London and New York was the emergence of American banks
 
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as the giants of world banking, paralleling the emergence of their
 
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clients, the Seven Sisters oil multinationals, as the giants of world
 
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industry. The Anglo-American oil and banking combination so
 
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overwhelmed the scale of ordinary enterprise that their power and
 
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influence seemed invincible.
 
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[affect of 'oil shock' and petrodollar system on lesser developed countries]
 
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If the methods look more than a little like a perverse variation on
 
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the old mafia ‘protection racket’ game, this is understandable. The
 
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same Anglo-American interests which manipulated political events
 
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to create a 400 per cent increase in the oil price then turned to the
 
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countries which were the victims of assault and ‘offered’ to lend them
 
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petrodollars to finance the purchase of the costly oil and other vital
 
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imports — at a vastly inflated interest cost, of course.
 
−
 
 
−
http://ftmdaily.com/preparing-for-the-collapse-of-the-petrodollar-system/
 
−
 
 
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the United States offered weapons and protection of their oil fields from
 
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neighboring nations, including Israel.
 
−
 
 
−
http://ftmdaily.com/preparing-for-the-collapse-of-the-petrodollar-part-2/
 
−
 
 
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According to the agreement, the United States would offer military protection for Saudi Arabia’s oil fields.
 
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The U.S. also agreed to provide the Saudis with weapons, and perhaps most importantly, guaranteed protection
 
−
from Israel.
 
−
 
 
−
==References==
 
−
<references/>
 

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The Brotherhood of Saint Sophia existed from 1919 to 1944 (dates vary according to source) and was headed by the Russian Orthodox Archpriest Fr. Sergei Bulgakov. N.D. Talberg named the following persons as members of the Brotherhood: Sergei Bulgakov, A.V. Kartashev, S.S. Bezobrazov, N.A. Berdyaev, V.V. Vysheslavtsev, S.L. Frank, V.V. Zenkovsky, Prince G.N. Trubetskoy, and P.V. Struve.[1]

A.V. Kartashev composed the “Provisional Charter for the Brotherhood of St. Sophia — Holy Wisdom” which was approved in 1918 by Patriarch Tikhon. The Brotherhood’s aim was to help unite Orthodox Christians, particularly through fostering fraternal relationships between Russian Orthodox thinkers, via preaching, teaching and engaging in cultural initiatives. It was a hierarchical religious society quite unique in the Orthodox Christian world in that it closely resembled Catholic religious orders. It was three-tiered, consisting of brothers-novitiates, brothers-disciples, and brothers-elders, bonded together by a common religious vow. The Brotherhood’s leadership Council was composed of twelve brothers-elders. Bulgakov was elected as Council Chairperson and Zenkovsky elected as Council Secretary.[2]

The Russian-French theologian Fr. Sergius Bulgakov was an extremely influential figure in the Eastern Orthodox resurgence among Russian intellectuals at the start of the 20th Century and was largely responsible not just for the Brotherhood’s formation, but also its continuation. He was trained as a political economist, and was a Marxist at first, then an Idealist, and finally an Orthodox believer. He was ordained a priest in 1918. Eventually forced out of Russia, he then took up residence in France and taught at the St. Sergius Institute in Paris. His theological speculations on Divine Wisdom became known as Sophiology and provoked heated discussion. Never prevailing in Orthodox circles, even in France where Bulgakov’s influence was greatest, Sophiology was eventually condemned as heretical by the Moscow Patriarchate in 1935.[3] For Bulgakov the Theotokos St. Mary was the world soul and the “Pneumatophoric hypostasis”, a Bulgakov neologism.[4] Imiaslavie was another controversial theological view within the Orthodox world which Bulgakov and other members of his Brotherhood defended and promoted. It is ironic that the Brotherhood’s efforts to create unity within Orthodoxy through devotion to Holy Wisdom and the Holy Name actually resulted in divisiveness and heresy accusations. Bulgakov’s ideas were eventually well received by some notable Catholics however who integrated them into their own thought, such as Cardinal Hans Urs von Balthasar and Valentin Tomberg, among others.

On June 11, 2018 a fellowship inspired by the Brotherhood of Saint Sophia formed calling itself The Brood of Holy Wisdom. According to its social media site it is a transodox form of new monasticism open to all genders rather than an Eastern Orthodox Christian Brotherhood. It’s focus, like the original Brotherhood of Saint Sophia, is upon deepening appreciation for and fostering kinship through the love of Holy Wisdom, working together as a Sophiologically centered spiritual community.

Bibliography

  • Katerina Clark and Michael Holquis Mikhail Bakhtin, Belknap Press (1985)
  • Erwin Fahlbusch Jan Milic Lochman, John Mbiti, Jaroslav Pelikan (Editors) The Encyclopedia Of Christianity Volume 5, Eerdmans (2008)
  • Paul L. Gavrilyuk Georges Florovsky and the Russian Religious Renaissance (Changing Paradigms in Historical and Systematic Theology), Oxford Univ. Press (2015)
  • M. A. Kolerov (1995) “The Brotherhood of St. Sophia”, Russian Studies in Philosophy, 34:3, 26-61
  • Ludmilla Perepiolkina Ecumenism: A Path to Perdition, Ludmilla Perepiolkina (1999)
  • Katy Leamy The Holy Trinity: Hans Urs Von Balthasar and His Sources, Pickwick (2015)
  • Marc Raeff Russia Abroad: A Cultural History of the Russian Emigration, 1919-1939 Oxford Univ. Press (1990)
  • Svein Rise (Author), Staale Johannes Kristiansen (Editor) Key Theological Thinkers: From Modern to Postmodern, Routledge (2013)
  • Walter Nunzio Sisto The Mother of God in the Theology of Sergius Bulgakov: The Soul of the World, Routledge (2017)
  • Anonymous [but known to be Valentin Tomberg], Robert Powell (Translator), Hans Urs von Balthasar (Afterword) Meditations on the Tarot: A Journey into Christian Hermeticism, TarcherPerigee (2002)
  • ↑ [ N.D. Talberg, Dvuglavyi Orel (The Double-headed Eagle) No. 4, pp. 7-8; "Vozbuditeli Raskola", (The Instigators of Schism), pp. 12-13, publ. by Doloi zlo (Away with Evil), Paris, 1927. (Quoted from: Bp. Gregory Grabbe, "The Church and its Teaching in Life", Jordanville, 1992, v. 3, p. 947.)
  • ↑ [M. A. Kolerov (1995) The Brotherhood of St. Sophia, Russian Studies in Philosophy, 34:3, 26-61]
  • ↑ [decree of Moscow Patriarchate dated 24 August, 1935, No.93]
  • ↑ [Walter Nunzio Sisto The Mother of God in the Theology of Sergius Bulgakov: The Soul of the World, Routledge (2017)]
    • Retrieved from "https://wikispooks.com/w/index.php?title=Wikispooks:Sandbox&oldid=187108"