“America is addicted to oil..." - george w bush 31 january 2006, state of the union address.
Will the Iranian Oil Bourse Threaten the Dollar?
see also: Iran’s Oil Exchange threatens the Greenback
Iran continues to push its weight around. Now it proposes to begin pricing oil in euros. Unfortunately, just about everyone would benefit—except the United States.
For half a century, the American dollar has been the reserve currency of the world. Seventy percent of all currency reserves are in American dollars.
This has a lot to do with the fact that oil, the most important commodity traded in the world, is mostly priced in U.S. dollars. The majority of countries, being oil importers, have to buy their oil in U.S. dollars. This, together with related economic considerations, encourages them keep most of their foreign currency in dollars.
The debt-burdened U.S. economy is dependent upon this high demand for its currency in order to remain afloat. The day this demand comes to end will portend disaster for the American economy.
There is a move underway, however, to effect just such a reversal of the dollar’s fortunes. In particular, the world’s second-largest producer of crude oil—and declared enemy of the United States—Iran, seeks to end the predominance of America’s currency.
Several weeks ago, Tehran reconfirmed that it plans to create a euro-based exchange in oil—to compete with the London and New York dollar-denominated oil exchanges, both American-owned.
The proposed March 2006 launch of the Iranian oil bourse (iob), if successful, would give the euro a foothold in the international oil trade, solidifying its status as an alternative oil transaction currency. This, in turn, could be a catalyst for a major currency flight from the dollar to the euro—and a disaster for America.
The iob will see crude oil, petrochemicals and other commodities of the same kind traded in euros.
Iran no doubt has multiple motives for making this move.
For one, it makes sense economically, especially since the European Union is Iran’s biggest trading partner. But more importantly, it would strike a blow to Iran’s archenemy America—and, by hoping to make Iran the main hub for oil deals in the region, help drive the Islamic Republic forward in its quest for regional supremacy.
George Perkovich, an Iran expert at the Carnegie Endowment for International Peace in Washington, stated it frankly: “It’s part of a very intelligent, creative Iranian strategy—to go on the offense in every way possible and mobilize other actors against the U.S.” (Christian Science Monitor, August 30).
Iran is eager to eliminate American influence. For Iran, which foresees a “clash of civilizations” between Islam and America—which holds the banner for the West—undermining the dollar could prove to be its best and most effective strike against a more capable military foe.
Asia Times reported that only one major actor stands to lose if oil-trading in euros takes hold: the U.S. By contrast, “Oil in euros would benefit millions … in the EU and its trading partners …. And it would loosen the grip the U.S. has on opec members” (August 26).
“One of the Federal Reserve’s nightmares may begin to unfold in the spring of 2006,” one expert on the subject stated, “when it appears that international buyers will have a choice of buying a barrel of oil for $60 on the nymex [New York Mercantile Exchange] and ipe [London’s International Petroleum Exchange] or purchase a barrel of oil for €45 to €50 via the Iranian bourse” (Global Politician, September 2).
If oil-trading in euros were to get going, the already-existent global trend of foreign currency reserves being shifted from dollars to euros would rapidly accelerate. In turn, “countries switching to euro reserves from dollar reserves would bring down the value of the U.S. currency. Imports would start to cost Americans a lot more …. As countries and businesses converted their dollar assets into euro assets, the U.S. property and stock market bubbles would, without doubt, burst” (The Foundation for the Economics of Sustainability, Nov. 15, 2004).
The snowballing effect of a reserve currency switch would be catastrophic for the U.S., according to the Global Politician. The U.S. “would simply have to stop importing” (op. cit.).
Considering America’s industrial and agricultural heartland has been gutted over the last half century, this possibility could be grave. As one commentator put it, the impact of the Iran oil bourse on the U.S. dollar—and the follow-on effect on the U.S. economy—could be worse than Iran launching a “direct nuclear attack.”
Should Iran’s planned euro-based oil-trading mechanism get off the ground and gain international popularity, the U.S. dollar will weaken and the euro strengthen—helping to hasten the economic decline of the U.S. and propelling the European Union into dominance.
Though many economists consider the chances of Iran’s ambitions being successful as remote, we can know from Bible prophecy that the U.S. financial system will be brought down—along with the U.S. dollar as the reserve currency.
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with apologies to chris williams' sissyman blog.
first off we dont feel that governor blanco is an evil or particularly a bad person we think that she just has bad advisors.
having said that we think its a great idea that she has to take the la legislators on a bus tour of hurricane ravaged new orleans prior to opening the special session. its important that they see just what all these years of (political) corruption have done to our state.
we feel that the legislature should come together and take this tour and some legislators attempts to polititize this event is uncalled for and is pretty lame.
any legislator who doesnt go on governor blanco's bus tour of new orleans is a sissy.
related news articles:
Some legislators rap Blanco’s visit to N.O. Legislature tepid about tour
Cenla legislators have doubts about special session
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for some reason when we saw this story linked from the dead pelican (thanks chad) it brought to mind the old classic chris rock comedy routine called "niggers versus black people" in that routine rock points out differences in what he calls black people and niggers. what particularly came to mind is how according to rock: "Niggers always want credit for some shit they're supposed to do. They'll brag about stuff a normal man just does. They'll say something like, “Yeah, well I take care of my kids.” You're supposed to, you dumb motherfucker. “I ain't never been to jail.” Whaddya want? A cookie? You're not supposed to go to jail, you low-expectation-having motherfucker!"
item 19 in the governors call is starting to get some play on a few talk radio shows this week. we cant understand why the governor etc feels the need to change the voting laws when there are already laws in place for citizens to vote absentee. why create more work for themselves?
they could be shooting themselves in the foot anyway because why on earth would these people vote for them again? we mean look how they were treated in the first place - their homes flooded and destroyed, thousands of them left stranded for days at the superdome and at the convention center. and on and on.
this should have showed them once and for all how when the chips are down how very little the powers that be think of them and this after they have been good lap dogs to them all these years.
they just assume that they will continue to vote and support them like nothing has happened. scary. the only bright spot if this is successful in passing this time is that the old boy network in their wanton hubris failed to take all this into account and their lap dogs finally wake up and turn on them voting them out in droves. hey its our blog we can dream, ok. lol.
EXTERNAL LINK
====the last trumpet newsletter is one of our favorite monthly publications we wish there was a new issue everyday but we can understand how much work it takes to produce something like this even on a monthly schedule. we arent even professional writers or even amateur writers and we know how hard it is to scribble out a few lines of text that hopefully makes sense. its funny how something sounds fine in our head as compared to how it looks in printed form. before the internet we loved to write letters now its hard to concentrate and we blame it on instant messaging, yeah thats it its all msn's fault but then again isnt everything msn's fault?
you may click on the title or here to read this months complete article.
During the witches’ sabat of Yule in 2005 beginning on December 20th, sixty-six soldiers from thirty countries were made U.S. citizens during a ceremony that was held in the former palace of Sadam Hussein. The ceremony was held under a three-pillared rotunda with a brilliant crystal chandelier. (3) The symbolism is triumviral power, or power of three, under crystal light. The capitol with its ceremonial rotunda has always been known as the temple of Zeus or Jupiter. In fact, the word capitol is defined in the dictionary as “temple of Jupiter.”
We know that war is a horrible thing. It is so horrible that in ancient witchcraft it was believed that in the spirit realm, two dogs were fighting and they inspired men and nations to fight. The planet Mars was believed to be the god of war and was called the angry red planet. In these modern times, patterns of witchcraft are still found. In Washington, D.C., we have a five-sided war house called the Pentagon. In the occult, the number five is the number of death, and plans made in this building have proven to be the death of many millions of people throughout the world. It is truly a structure of wars and rumors of war. The antichrist forces, who still use astrology to plan wars, believe that the best time to launch such projects is the period between March 20th and May 1st, because Mars is dominant in the zodiac during that time. Remember Iraq?
There is now a new addition to the Pentagon. On the eve of Friday the 13th of January, 2006, it was announced that an Ark of the Covenant has been installed in the Pentagon’s synagogue for the purpose of holding the Torah scrolls. (9) It was designed and produced by Moshe Gani, a student of the Kabbalah, which is Jewish witchcraft. This is more of your tax money in action. So much for the separation of church and state!
In Cambodia, a new strain of malaria has been found which has an one hundred percent mortality rate, causing death within forty-eight hours. The parasite that causes the disease is different from any other ever known, for it has the ability to restart the heart of its victim for up to two hours after the initial demise of the person. Cambodian General Ary Serey said, “We have obtained samples of this new parasite and plan to learn how it starts the heart and other major organs of the deceased.” Authorities also said, “The victim behaves in extremely violent ways from what is believed to be a combination of brain damage and a chemical released into the blood during resurrection.” (21) It has been called an outbreak of zombism.
On June 6th, 2006, which is 06/06/06, a major movie is to be released called The Beast. This is the 6th day before the full moon followed by eleven days before the witches’ sabat of Midsummer. The movie is being produced by Jerimah Farwell and was written and is being directed by Brian Flemming. It will be distributed by VIVID films. Not only is the movie to be released on 06/06/06, but it was carefully timed so that it would take exactly 666 days to make the movie. The movie is about a Christian high-school student named Danielle, whose father is a biblical scholar who discovers proof positive that Jesus Christ never existed. The plot centers around the abduction of this scholar by fanatical Christians to keep people from finding out that Jesus Christ did not exist. (27) One witch recently spoke out and said “Finally, a film that proves Jesus Christ never existed; I can’t wait!”
Should we wonder at all why judgment is falling on our nation and this entire wicked world? We know that England recently legalized homosexual marriages, and the knighted Sir Elton John married his boyfriend in a very high-profile wedding. (37) Former President Bill Clinton sent the sodomite newlyweds a video tape congratulating them, using the Yiddish words “Mazel tov”, which means congratulations. Clinton said, “The world needs more people like Elton John.” (38) This is the same Bill Clinton that Dr. Billy Graham said would make a good evangelist and that his wife Hillary should be President of the United States.
When people begin to think like Bill Clinton, is it any wonder that the number one movie in American theaters is Brokeback Mountain, which is a story of two homosexual cowboys, including one who is a “gay” prostitute. As of January 18th, 2006, this movie had already taken in over 33,000,000 dollars. (39)
We are made to remember that Jesus warned us in Luke 17:28 that at the time of His coming it would be like it was in the days before Sodom was destroyed. Are we in those days? On the 13th of January, 2006, Friday the 13th, the mayor of our largest city, Michael Bloomberg of New York, accepted the title conferred upon him by Margarita Lopez, a former councilwoman and lesbian leader. Michael Bloomberg was given the title of Honorary Lesbian, and he accepted it gladly. Bloomberg praised Lopez and said he would find ways to continue to work with her. (40)
our question: if the jews are gods chosen people and god has vowed to protect israel what do they need us (the usa) protecting them for? it seems to us that pResident bush is actually admitting that he doesnt really believe in gods holy word and that god is either a liar or incapable of protecting isreal or both. looks like the jews dont believe in god or his word either.
