Stacy Summary: Thanks all who sent this to me and posted in comments! Yes, this is the most important story I have read in all the years that Max and I have been making films about the Death of the Dollar. And it is because the author of the article, Robert Fisk, who will not only be very well connected in the region, doesn’t often (if ever) write about finance or commodities, he’s not going to have any particular position to promote.
- The Demise of the Dollar (Robert Fisk)
Stacy: Here’s the money quote from Fisk’s article. To me, it sounds like China is vocally drawing a line in the sand. After this, I don’t think there can possibly be any carpet bombing of Iran where China has major oil investments.
Against the background to these currency meetings, Sun Bigan, China’s former special envoy to the Middle East, has warned there is a risk of deepening divisions between China and the US over influence and oil in the Middle East. “Bilateral quarrels and clashes are unavoidable,” he told the Asia and Africa Review. “We cannot lower vigilance against hostility in the Middle East over energy interests and security.“
Stacy: Fisk’s conclusion sounds an awful lot like some statements in Death of the Dollar made in 2006.
Iran announced late last month that its foreign currency reserves would henceforth be held in euros rather than dollars. Bankers remember, of course, what happened to the last Middle East oil producer to sell its oil in euros rather than dollars. A few months after Saddam Hussein trumpeted his decision, the Americans and British invaded Iraq.
At the time we made Death of the Dollar 2, I spoke to an oil analyst at a major oil research firm who told me that pricing oil in dollars wouldn’t matter if it were only Iraq or only Venezuela, for example; it would only matter, he said, if all nations move away from pricing in dollars. This opinion is echoed in Death of the Dollar 2 by Dr. Manouchehr Takin, former Senior Officer at OPEC, who says if oil were traded in other currencies but the dollar, then, of course, it would mean there would be less demand for dollars. Dr. Gerard Lyons, Chief Economist at Standard Chartered, also points out that they were advising Gulf nations to move away from the dollar and what the implications then would be for both the Gulf and the US. And then Dr. Paul Craig Roberts talks about the ‘exorbitant privilege’ and why it is important. And I am quite certain you could find headlines from early 1900′s through 1945 as sterling was losing its status as reserve currency. (It’s a multi-decade volatile process . . . but today no other single nation wants to take on the mantle of reserve status for along with the ‘exorbitant privilege’ comes apparently the ‘exorbitant burden’ of deficits).
Just as the US demonstrates overwhelming force against tiny nations like Haiti, Honduras or Cuba when they exhibit the smallest sign of defiance or independence, so too the US does the same with Middle East countries. It is not that they matter in any but the smallest of trade with the US, it is the precedence of defiance and independence that the US tries to nip in the bud before it spreads. It’s like Guiliani’s ‘broken window’ shock and awe policing.
The Original Death of the Dollar:
Death of the Dollar, Part 2 (stay tuned til the last few seconds when Max whistles in the graveyard!):
Updates: Gold 1026.90 1028.60 1030.10 1035.60
- Saudi Bank Governor Denies Talks to Replace Dollar (no denial yet from France)
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Stacy do you see anything missing in between these two articles?
Original:
“In the most profound financial change in recent Middle East history, Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.”
News wire:
”
The move would see oil priced not in dollars but in a unit based on a basket of currencies including the Chinese yuan, the Japanese yen, and a new currency intended for use by the Gulf emirates, according to a report in Tuesday’s Independent newspaper. The paper added that the transistion from the dollar to a new currency will take almost a decade.”
Where had France and euro mentions gone??
Looks like they are aiming for 2018 to make the switch, this is going to take a while though, and many things could happen in that time.
Oops.. it’s in the headline
i need more coffee..
@Stacy ..strange that your Anto-Spam system blocked my post on this 4 times ! .. until I finally used a TinyURL !
I’d say that if money is the only means to retain law and order in a society it has regressed into lawlessness. Law and order that needs to be enforced and rewarded by money basically isn’t. Law works through people voluntary adopting its principles. If people do not want to create order the game stops. Here you see the dirfference between the US and some european countries, where people are inclined to follow rules without a direct incentive..
this isn’t news to the blogosphere but it’ll be interesting to how this gets played out in the MSN now this story has gone mainstream. Will it be a non denial denial, silence or outright denial?
IMF policies deepened financial crisis, says CEPR
http://tinyurl.com/yfxdrcc
The response to al-Qaida and the ‘War on Terry’
http://tinyurl.com/ye5e8mg
MI5 weren’t worried by Islamic terrorism before we invaded. So much for “fighting them over there or fighting them here” argument.
Report on Wall Street banks’ bailouts says US Treasury misled public
http://tinyurl.com/y96u93m
@Ah.Nix – good question, will try to find out where you can listen to the KDKA interview; it went down very well from what I hear
@Ilya – re: Chavez’s budget based on $40 oil; it’s not that he is being pessimistic, it has to do with making sure that they are in control of their budget; all oil producers do this, you will see it all the time in the Gulf nations, they try to be pessimistic with their oil projections so that all sorts of politicians and lobbyists don’t try to spend the money before it is even in the govt coffers
Well. This is part of the plan the elite group of people have in store for us.. I am not a very strong believer of this NWO-shit but the news, the events taking place speak for themselves.
I think the real question is why the headline on Drudge is stated in the fashion of “ARABS PLOT…” The last time I read/heard that kind of headline, war was within earshot. I wonder if this is all a headfake, but as wepollock (YT) pointed out that Austrailia has raised interest rates at this point.
Law is only respected if it’s seen to the done for all of society not imposed like taxes on only the masses while others face no consequences for illegal actions.
@Paul – the Drudge headline reads that because he is appealing to his audience who will think of the Gulf nations as their dependents; China, Japan, Russia and France are relatively independent in the mind of Americans; but the Gulf should do what the US says or get bombed . . . that’s the message he is sending
@Patrick – have your coffee yet?
@Stacy
What is your take on this news? It seemed to have come out of nowhere in the evening in the US, and then it’s prominently on Drudge. It’s on Bloomberg now. Apparently Saudi Arabia has denied this (but some pundits say that denial is worse than ignoring the story entirely).
The markets are definitely responding. Do you feel like this is a headfake or the real deal?
I heard this on the radio this morning as I woke up. What a wonderful start to the day!
I believe I’ve noticed a trend on this blog recently; that more of the links Sherbert is pasting are to MSM sites. This seems to be due to the MSM reporting more of what is actually going on. Does anyone else feel this, or am I wrong about that?
the climax of pakula’s “Rollover”
the arabs drop the dollar and gold skyrockets
http://www.youtube.com/watch?v=iicB80Mwz8w
This move is only sinister if you believe the US Federal Reserve continuing to function as the world’s brain, with the goods traded in USD its body, is a natural state of affairs. H.W. Bush’s NWO would have been built on maintaining USD hegemony.
A gradual transition to a basket dominated by USD won’t be that abrupt a transition. Even after the US loses its exorbitant privilege, it will still likely be the world’s dominant economy. If true, this would mark the end of the Anglo-American establishment, not the end of the US as a major economic power..
@stacy
I took green tea actually.. little bit healthier.
Hmm Brits adopting euro, when? Don’t think that Germans would like to have another Spain or Greece emptying ECB coffers.
This video is culled from Rollover (1981), but also intercut with news footage from the onset of the current financial crisis. If you haven’t seen the film already, it can be difficult to tell when the video transitions between film and news footage.
http://www.youtube.com/watch?v=GPYLJoq_40Y
The IMF came close to instituting an SDR Substitution Account while the film was being made. The GCC appears poised to affect a functionally equivalent changeover, using the same basket of currencies and commodities BRIC nations have been calling for in recent months.
Sorry if this already posted.
Can’t keep up, very busy
Soros Half Hour. V interesting.
http://link.brightcove.com/services/player/bcpid607698505?bctid=28217116001
Scotland ignores US wishes and release Lockerbie man. Russia gets its way on missiles. Dalai Lama is ignored at the request of China.
Yep, there we see the US influence in worldwide freefall!
Expect San Marino to make some uncompromising noises soon.
FT Alphaville on the sceptics:
Indy and the secret plot to topple the dollar
Posted by Gwen Robinson on Oct 06 09:10.
Bloomberg also sceptical and reporting official denials, but the analyst from CMC they asked for comment agreed on the general interest in finding (or constructing) an alternative to the dollar.
* FT Alphaville among the sceptics
It cannot be that this event has nothing to do with the Iranian war threat.
@harry_w – LOL! Alphaville says that Robert Fisk is controversial because of ANDREW SULLIVAN’s “fisking’ a column by Fisk? Too funny. The same Andrew Sullivan who breathlessly reported anonymous tweets
by the state deptfrom Tehran as news?caution :with all of the extreme negative sentiment and hype last few months about demise of us dollar , could this be just another ‘buy the rumour ‘ kind of story , with good old fisky being just the ultimate crowd pleaser ? not questioning long term viability of us dollar , just the timing ? i expect u.s. dollar has one or two major rallies left in it before it goes the way of history .
@larry – yes, Max and I talked about that last night; it seems the dollar is crazy oversold . . .
from REUTERS:
Oil states say no talks on replacing dollar
http://www.reuters.com/article/newsOne/idUSTRE59507620091006
@Patrick … Euro
In 1999-2001, I predicted that the Euro will eventually not survive simply because of the cultural differences , let alone the Economic aspects which are IMO absurd.
You are already seeing the bickering between the Euro nations , the “givers” and the “takers” .. and even the “takers” are protesting thanks to the now centralized and uncontrollable inflation caused by the corrupt EU establishment.
Some check-points in recent history :
# Italy’s finance Minister wanted to “take a holdiday” from the Euro … Berlusconi & Brussels said “no”.
# Italy and Spain wanted to introduce 2-Euro paper-notes to brake inflation – Brussels said “no”.
# Germany has basically said recently that they will not bail out the other failing Euro members
And all the BIG TALK about the Maastrich Treaty stipulating that 63% was the UPPER limit for state-debt.
They are now ALL over 63% AFAIK !
I expect to see the bickering get worse as we go forwards .
BTW… Germany’s HRE was quietly fully nationalized last night ( was until now only partly nationalized ). A few months ago there was talk about HRE being systemically important … so I guess they had to rescue HRE to save all the other big German banks. In other words … a secret bank bailout by the German tax payer !
The many German books – written by serious people – that I’ve read over the last 10 years have all heavily criticized the move from national to EU-centralized Financial Control.
Some key points I predicted BTW :
a) the size of the corruption pool will accelerate and get completely out of hand ( other people’s money becomes even more anonymous and therefore easier to take / spend ).
b) the “one interest-rate for all EU countries” will cause chaos
c) the birth of the Euro will cause WW volatility due to becoming an alternative to the US$
d) A “United Europe” without a “united” Defense Concept is not united.
It made me sick to watch the Eurocrats “keeping their heads down for years” … while the Bosnian conflict continued .. not far away from us !
I suppose interfering too soon might have woken up Europeans to what a United Europe really means !
Enough said I think.
the last paragraph by Fisk was scary. i hope they are not stupid enough to embark on a 3rd war
Iran announced late last month that its foreign currency reserves would henceforth be held in euros rather than dollars. Bankers remember, of course, what happened to the last Middle East oil producer to sell its oil in euros rather than dollars. A few months after Saddam Hussein trumpeted his decision, the Americans and British invaded Iraq.
Hi MaxnStacy
I would love to hear max talking about the dead peasant insurance.
Neofeudalism here we come.
@Jack … war ?
The BRIC countries have been crystalizing over the last few years to form a front against the US/UK ponzi financial scheme.
I doubt that war is on the cards at all .
Sure , there will be posturing and threats as usual, but the main players (US China) have far too much to lose to lose in an all out war.
Of course, who knows how far Brezinski is prepared to go !
And Brezinski is IMO the only real risk to the future !
Obama runs out of money:-
http://www.bloomberg.com/apps/news?pid=20601087&sid=aRuiJDCk.HD4
Mike
Who needs countries, when you can become a world citizen:
It has what is called a ‘legal personality’, so will not need to make future changes by treaty but by acting as the superstate it now is.
Increasingly, the provinces of Europe, “which until today were countries”, will need its
permission to exist at all.
That passport you hold is not British, but European. You are a European citizen. British Embassies abroad are European Embassies
The Positive to come out of all this centralization is, no borders means no wars!!,..oops I forgot about all the “terrorists”,…you know,..all those folk who disagree with current policy,..dissenters, extremists, deniers, ..basically anyone with the ability to think!
Resistance is futile,…
http://www.youtube.com/watch?v=HULRmDGdv_E
Fisk’s conclusion is poignant. Excellent even.
@stacy ,.. any chance of getting fisky on the show ?,[ i bet both he and max have a lot to talk about ] , perhaps max can tease some more information out of him ? give us the sauce ? ; ) i always like my news served hot with lots of ‘sauce ‘or ‘sauces’ ,boom! boom !
alternate opinion on the oil/dollar news. http://globaleconomicanalysis.blogspot.com/2009/10/ridiculous-hype-over-secret-oil.html
‘So who is this young Vic Tanny bitch
Who wish to be queen for a day?
Who would sacrifice the great grandsons and daughters
Of her jealous mother
By sucking their brain
Until their ability to think was amputated
By pimping their instincts
Until they were fat, horny and strung-out
In her neurotic attempt to be queen of the universe
Who is this bitch’
(excerpt)
America Eats Its Young – Funkadelic (1972)
http://tinyurl.com/ncb9ne
‘Our father
Which art on Wall Street
Honored be thy buck
Thy kingdom came
This be thy year
From sea to shining sea
Thou givest me false pride
Funked down by the riverside
From every head and ass, may dollars flow
Give us this pay
Our daily bread
Forgive us our goofs
As we rob from each other
He maketh me to sell dope to small children
For thou art evil
And we adore thee
Thy destruction and thy power
They comfort me
My Cadillac and my pinky ring
They restoreth me in thee
Yea, though I walk through the valley of the shadow of poverty
I must feel their envy
For I am loaded, high and all those other goodies That go along with the good god big buck’
(excerpt) Eulogy and Light – Funkadelic (1970)
@Chalcedonite. Countries are going to maintain large USD reserves so long as they must purchase oil from OPEC with them. Countries don’t maintain large USD reserves just so they can watch them depreciate. Switching from USD to a basket of currencies and commodities would diversify risks.
“The oil pricing policy during that period [1970 to 2000] is compared with two baskets of currencies, which are proposed in order to explore the most advantageous scenario. The calculated results indicated that OPEC members could have achieved a total current savings of at least $170 billions Dollars if the price of oil was linked to a basket of currencies from 1970 to 2000. These savings are approximately equivalent to the revenues generated in at least 1 year of OPEC’s average rate of oil production and export.”
http://www.actapress.com/PaperInfo.aspx?PaperID=30302&reason=500
‘Some people have gone so far as to predict that if OPEC were to demand payments in SDRs (Special Drawing Rights-the IMF’s “paper gold”), the U.S. might consider this “an act of strangulation” (see Terence McCarthy’s article in Ramparts, March 1975). It is now clear, however, that this fear is unfounded. OPEC’s announcement at the recent meeting in Gabon of its intention to price oil in SDRs did not raise even a mild protest from the U.S.’
Energy, Petrocurrency, and the World’s Future
by Robert Swann, 1975
http://www.smallisbeautiful.org/publications/essays_swann/energy_petrocurrency_jm.pdf
You have to wonder what sort of arm twisting went on behind the scenes in ’75. And what sort may be going on now.
@ the man from glad … I don’t think it is that simple
@Chalcedonite. Any model which doesn’t take into account the role of the petrodollar is an oversimplification.
@Phil
Kleptocracy is omnipresent either in US, EU, China or Croatia. EU is technocrato/kleptocratic agenda that has one important factor to keep the motor running and that is rise of another empire (Baroso admited it).
The only way Germany, UK, France, Italy and rest of western euope is by luring developing central-easetern european countries into EU bureaucratic lock-down using them as human commodity resources (i.e. cheap labor & f#ck bunnies), that’s why they want Turkey in but not just yet (they don’t need 2 many fck bunnies now, population is still reasonably stable).
As for war in Balkans, things are too complicated to judge anyone. I understand it now when Croatia wanted to recognize independence of Kosovo but it was afraid to do it right away fearing it would loose still fragile economic ties with Serbia. In politics there are too many equations and they are not driven by humanity or equality but by greed & power.
@y’all
My country the UK…is and has been such a frikkin’ ponce…we would do anything just so we could live of other peoples..in the past when we were killing our friends from overseas.. we tried to giving them…lessons on discipline, empericism…and though we were wrong at least we knew our time was up and we had to leave..and find a new game… sure we cheated, we killed and we robbed…hey there aren’t many countries that haven’t…the death of the dollar when??? I dunno…but I do feel if and when it happens america will not go quietly…dunno ’bout WW3 but…I do see us heading towards a day when america would be prepared to fuck everybody on this planet up…for whoever or whatever they see as being thier new paymaster or just so they don’t ever have to learn from thier mistakes or admit they were wrong!!!
Like others have said, the fact this is broken by Fisk…well it simply can’t be dismissed.
But anyone who thinks the US Empire (and it’s banking class masters) will go down without a fight is sorely mistaken! It is a phenomenally envious and avaricious beast with 1500 warheads on hair trigger.
There WILL be a global thermonuclear exchange initiated by the US over this development. You can “bank” on it. It could be tomorrow, next year, or in six years, but it IS going to happen – unless there is a military coup d’etat in the Washington by a group of generals who are NOT insane.
Fortunately, for all of us, Russia has far superior air defenses and ICBMs, plus there is no chance in hell that Europe – aside from the equally deluded UK, along with Canada, Australia, and Israel – is going to go along with the Empire’s lunacy.
Now it should be become apparent to everyone why the US condones and protects ISRAEL: a lunatic terrorist state with 200 warheads poised to take out Arab capitols and, if necessary, take out EUROPEAN capitals for the sole purpose of blackmailing them into this war.
After the Cold War was over the US thought it could just slowly erode Russia into “failed state” status without war, but after Putin brought Russia back from the edge, those plans were scrapped and they began preparations for a first strike: ABMs.
After 9/11 I was 99% certain I would live to see global nuclear war. Today I am 100% certain – barring internal revolution or a coup.
@y’all
…and also if america doesn’t take us all out..with it’s madness… the real problem in the future will be one similar to the effect germany has had on israel…america will have to face up to the fact they have created a world full of pissed terrorists….rant over!!!
After some deep thought on the subject, I’ve come to think that perhaps Fisk is being tutored to write in that direction. The fact that he ends his piece about the motives behind the invasion of Iraq to me is a blatant gesture of calling out the US–”I know what hand you’re holding pal…are you going to play it?”
And maybe in that way, it’ll deter the US from doing anything at all simply on the basis of being exposed. The timing of this article would be particularly interesting because Iran just announced not to long ago for their conversion into Euros, no?
Fisk went viral and told the world what the US has done and perhaps will do. Will the US be so predictable?
@illya
I was going to say internal and as well as external terrorism…I can’t read and post that quickly…but it seems…the doomsayer in all of us is coming out today…I think america will become ungovernable for sure!!!
can you hear the darth vader theme being played on the feds accordian
The secret meeting may be a diversion, but if so, with what intent? To discredit such speculation? It certainly seems to have touched a nerve.
If nothing else, we’ve seen the Dollar drop just on news that OPEC’s oil-for-USD policy may gradually get phased out. Did that happen just because of an irrational association?.
@Supergreek
This article sent a chill up my spine. I’ll leave it at that for now, off to slaughter, i mean work, like a good little lamb.
@y’all
I need a break from all this WAR…pronounced…WHOAAH!!!
from chicago….illinois.
Hypnotic Brass Ensemble – War.
http://www.youtube.com/watch?v=Ospt8g4i-9k
@Ilya. Russia’s participation in these talks would be crucial for its role as a military deterrent against insane reactions on the US’ part. OPEC probably wouldn’t have to nerve to try this w/o Russia backing them up. That one of the reasons this overall scenario sounds so plausible.
@y’all
typos:america is and will become ungovernable…and also ‘Talk of WAR.
@illya
Link…please!!!
@larry – would love to talk to Fisk . . . anyone have his email or mobile number?
@Stacy. Maybe you could reach him through one of these addresses:
* News Desk: [email protected]
* Foreign Desk: [email protected]
* Features: [email protected]
I could be wrong, but my feeling is that the markets would not have responded in the way they have today if oil trading in something other than dollar were no big deal.
@y’all
for any interested….who don’t know about ‘vic tanny’…read the wiki excerp on this page…IMO a great analogy for america’s situation…and a great visual…coincidence!!!
@y’all
oops!!! Victor ‘vic’ Tanny…link.
http://www.scripophily.net/victaeninde1.html
@Stacy. It looks like either Mish or a lot of forex traders have OPEC’s oil-for-USD policy wrong. Judging from how many USD OPEC nations accumulate, it appears to mean what it says. OPEC nations get paid for their oil in USD. So at least as many petrodollars need to be in circulation as OPEC sells oil for.
Russia surpassed Saudi Arabia as the world’s largest oil producer last month. Russia increased its output 1.7 percent to a post-Soviet high in September from a year earlier, after OAO Rosneft starting pumping from a new field in August. Production rose to 10.01 million barrels a day from 9.84 million, the Energy Ministry’s CDU-TEK unit said Oct. 2.
http://www.bloomberg.com/apps/news?pid=20601081&sid=aLe2iy5N5eZs
https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=330200&messageId=396592
Alliance Oil Company Ltd. (formerly West Siberian Resources Ltd) (the “Company”)
announces that it has launched an offering of US$ 225 million principal amount
of convertible bonds (“Bonds”) due 2014 (the “Bond Offering”) and US$100 million
in newly issued shares in the form of Swedish depository receipts (“SDRs”)
listed on Nasdaq OMX Nordic (the “Equity Offering”). The proceeds from the
offerings are intended to be used to further strengthen the Company’s balance
sheet and liquidity position, to reduce short term debt and to provide
additional flexibility for both organic growth opportunities and potential
acquisitions.
http://www.allianceoilco.com/?p=start&afw_lang=en
Russia Today on the Independent story:
http://www.youtube.com/watch?v=mezD3f9QjD0
Prediction!
Any chance (which was probably slim anyway) of Peter Schiff winning just evaporated. In this video he tells Saudis how they can tank the dollar. They just have to buy gold. I can see the campaign commercial: “Schiff plots with Saudis to topple America!”:
http://www.youtube.com/watch?v=q0Weo7X3Y0U&feature=related
FRANCES !!! where you bin,.?
Re; trying to contact Fisk. Don’t bother. I tried and was told they don’t forward mail to him.
As for Shedlock, he’s saying that Fisk is either lying or being set up? This brings up a few possibilities:
He either does lousy research. Or has no idea of Fisk’s solid reputation in the Middle East, his extensive connections and more.
We didn’t invade Iraq because Sadaam wanted to switch from dollars to euros? There’s a ton of reputable sources that say he’s wrong. Which means Shedlock is showing his neocon bias?
Why would Fish make this up? Also, assume for a second that he is being set up by someone (ala Judith Miller formerly of the NYT)? What would that accomplish.
Looks like the “economic pundits” are really bored right now.
@Stacey
You might be able to reach him through Alan Bock of antiwar.com., I know they’re in touch,
abock at ocregister dot com
@Dedo:
Thought I’d learn more if I talked less.
Been reading y’all though.
Dedo:
Looks like oil will be sold through Kasakastinitintan or whatever. Free’s up Iran for the looters.
Interesting too how the bonds were sold as sdr-denominated financial instruments.
@Frances,…I wish you wouldn’t,…I love reading your comments,…the most informative on the site, might I add!
(I’m not frikin’ brown nosin’ either) : )
@T:
No one is doing anything without an UN security council mandate. So unless the neocons want to fight the allied NATO forces ‘we’ operate out of the insanity of the UN.
EU banking regulation hegemony is coming as well:
http://www.bloomberg.com/apps/news?pid=20601102&sid=aoK0x3qYrfCI
http://www.reuters.com/article/pressReleasesMolt/idUSTRE58O6DA20090925
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6846072.ece
http://www.bis.org/publ/bcbs162.pdf?noframes=1
The spigot will be turned off completely: Basel Committee’s putting a kink in the hose.
Thanks Dedo: IF ONLY THE WORLD SAW OUT OF YOUR EYES.
But really, I could polish up my q’s and p’s a bit when it comes to rant-free writing!
Dedo, Did Mike King really disappear? *POOF* We will CARRY ON THE TRADITION OF OUR CAPtain.
That’s some of the best reporting on our situation I’ve seen anywhere.
Thank you for telling it how it is with Obama. This is a welcome balance to Stacy’s Utopian, dreamy delusions about Obama. Poor girl.
Why is it that the younger generation in the West, mainly US, seem to understand how system works, and the older generations are blind and oblivious?
http://www.examiner.com/examiner/x-25578-Cincinnati-Economy-Examiner~y2009m10d6-Revisiting-the-Inflation-vs-Deflation-Argument
@Frances, The US never got that mandate it wanted to invade Iraq.
@TheManFromGlad:
Looks like they want sanctions first, as in Iraq.
@Ilya:
That can’t be you, is it? The picture of the Russian babe avantar?
I thought this resembled you:
http://monstermonday.com/wp-content/uploads/2008/12/monster-monday-2008-12-14.jpg
@T. The Independent might not forward e=mails, but they might be willing to facilitate an interview with one of their reporters.
@Frances. Trade sanctions against OPEC?
@TheManFromGlad:
Oh. The UN Security Council has ballied about the trade sanctions against Iran for a time now:
http://www.dailypress.com/news/world/sns-ap-eu-iran-nuclear-talks-sanctions,0,6454093.story
In his own opening remarks, President Obama said today’s resolution represented agreement on a broad framework of action to end the complex dangers posed by nuclear weapons in the post-cold-war world. To that end, he pledged that the United States would host a Summit in early 2010 and pursue deeper cuts in its nuclear arsenal, as well as agreements with the Russian Federation towards the total elimination of nuclear weapons. He said the resolution also emphasized the Council’s authority to respond to violations of its resolutions, including those on Iran and the Democratic People’s Republic of Korea. “The world must stand together and demonstrate that international law is not an empty promise,” he added.
http://www.un.org/News/Press/docs/2009/sc9746.doc.htm
Iran seems willing to comply as evidenced by their agreement to stop enriching uranium. But the Anglo/Dutch interests see Iran as an occupied or heavily influenced country.
http://www.globalsecuritynewswire.org/gsn/nw_20090917_3617.php
@Frances. I see what you’re saying. The UN probably will try to appease the US over Iran, up to a point. I was wondering how the US might respond if OPEC started selling oil for something other than straight USD. Not even very many members of the coalition of the willing would be willing to stop buying oil from the rest of OPEC.