Her Majesty’s Fool, Sir Lancelot Oliphant
In 1932 a shabby group of Arabian camel-driver-look-alikes paid a visit to the British Foreign Office with the request to invest in drilling for oil in Arabia. The Arabs had strong preference for the British, the super power at the time (until they committed suicide when they obeyed the Americans to declare war on Germany, that was in dispute with Poland over the German town of Danzig, so the Americans and Soviets could take over Europe, but we digress). The British however concentrated on recent oil finds in Persia and Mesopotamia and the serving mandarin sir Lancelot Oliphant said ‘no’.
Oliphant chose to slam an open door. He replied that “British firms might hesitate to accept a report not drawn up by a British expert”, and expressed doubt “as to the readiness of British firms to sink capital in a little-known country at the present time”.
Two weeks after the British rejection, the Americans discovered oil in Bahrain, off the Saudi coast. Saudi-Arabia, the future largest oil producer of the planet, would be firm in the American pocket, until today.
[bbc.com] – The diplomat who said ‘No’ to Saudi oil
Editor: without this fatal decision it is unlikely that the Americans could have pumped as many (petro) dollars into the world’s financial system as they managed to do, until the inevitable moment will arrive when the world’s factory China will decide that they have enough dollars and decide to dump the dollar by sending them back to sender and the dollars will rain over America like in a giant ticker tape parade.