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Join Us At Today's Iranian Alert Thread – The Most Underreported Story Of The Year!
"If you want on or off this Iran ping list, Freepmail DoctorZin”
Posted on 08/27/2005 12:43:32 PM PDT by DoctorZIn
To read today’s thread click here.
Join Us At Today's Iranian Alert Thread – The Most Underreported Story Of The Year!
"If you want on or off this Iran ping list, Freepmail DoctorZin”
There was talk in the mid 90's of switching from the Dollar to the Euro, that is a fact.
Oil is traded in England, I forgot the town, the main body of oil trading, and right now, due to the influence of England and their reluctance to surrender to the EU their sovereignty, that is holding this all back.
BUT, if this is ever changed....
If it happened, though, Europe stands to gain all the more.
Right now, the Euro is valued higher than the dollar, always did.
With the cost of oil being traded in Euros and not dollars, that means that our money loses face value becauseit is no longer needed to buy oil with.
That would make the Euro the strongest currency in the world, and our national influence reduced to that of a military mercenary.
China is taking over manufacturing jobs, imagine what would happen if the value of the dollar plummted, how much more quicker would manufacturing leave the US just to keep making a profit on sales?
Maybe, but think of this:
How do countries invest? They buy bonds in other governments, right?
Many countries invest in the US, right? They have corporate headquarters here, right? Foreign owned, but located here, right?
All that money they invested in AMERICAN dollars just went down the drain. If the value of the dollar went down, then the return on their investments goes down.
What happens when a stock goes down in price? People sell, right?
Those govt bonds that other countries invested in just lost 50% of their value, do you think they will keep them or sell when they can?
How will we pay of BILLIONS of dollars in govt bonds? They will print money.
How do you pay for money you print? You cant. It is a false float.
Also, when foreign goods raise in price, our own buying power drops. It will mean a slow return to the US of some jobs that already left overseas, but, too many companies sent their machines overseas to make goods, not just ideas.
Also, the buying up of dollars that are rapidly plummeting in value is a lose/lose situation. It would be like buying up Confederate dollars in 1864...
Doubtful this would happen. There would be a better chance of the U.S. using nuclear blackmail to stay afloat.
GeneralBob, check this news out. I'm concerned.
Thanks, DoctorZin. I'm still reading.
Judging by the adamant way in which Russia rejected the referral of Iran to the Security Council last week, how China is hesitant to do so, and how wishwashy India is being, I'd say that they're all thinking long term regarding Iran, this oil bourse, and the standing of the US dollar, which is against the ropes.
China, in some ways, might be tacitly *begging* the US to attack Iran just so China would have a chance to 'annex' Taiwan once and for all.
Everything pivots on Iran, where the US/UK/Israel are essentially on one side, and the rest of the world is on the other.
Thus the stakes do not ultimately bother neocons. As did Hitler by invading Poland, the neocons will also "go for broke" and bet the house by attacking Iran, and any power that backs it.
"In my life, I have always gone for broke." - Hitler to Goebbels, after being warned against invading Poland by his own army generals.
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