Termites May Have Caused Every Global Economic Crisis Since The 1960s
We all know that termite infestations can be costly. Termites are so destructive to valuable property that it could be said that termites rob people of their money. However, in some cases, termites actually have devoured paper money. Termites have successfully infiltrated safes full of money only to devour all the currency being stored within. This rare but very real problem does not just involve personal safes, as termites have even entered large bank vaults. As you can imagine, bankers have been shocked to find only small crumbs where stacks of currency were once located.
You are certainly familiar with the staggering wealth that Arabic royals enjoy. Much of this modern wealth is due to the vast amounts of oil located in the middle-eastern regions of Asia. These vast oil-reserves went largely undiscovered until the early 1960s when Sheikh Shakhbut bin Sultan al-Nahyan discovered an ocean of oil beneath an area of Abu Dhabi. This oil was immediately sold to the western world and paid for with gold bullion. Gold bricks were the preferred form of currency among oil profiteers in the middle east. However, British bankers were soon unable to continue paying for oil in gold bullion. This prompted a prominent british banker to diplomatically suggest paying for the oil with paper currency. The Sheikh reluctantly agreed, and the problem was solved. However, termites would soon destroy this diplomatic agreement with their own selfish appetites.
Not long after the sheik received his first payment of one million pounds, the British banker was called back to Abu Dhabi. The sheik was furious, as it turned out that termites had eaten their way into a chest containing the one million pounds of paper currency. The sheik demanded that the British pay another million pounds, and this time, in gold. Luckily, the termites did not eat the metal strips contained in each form of paper currency, so the British accepted these strips as proof that the money existed. The metal strips were returned to the bank of England, and the sheik agreed to another payment in the form of paper currency. Some argue this situation resulted in the devaluation of gold bullion, which ultimately led to several economic disasters since. The economic demand for gold is not what it once was. In other words, termites are partly responsible for the global economic disasters that have occurred since the 1960s.
Putting the above story aside, do you believe that the billions of dollars that termite damage costs the world each year results in economic slumps?