Skip to comments.
Mideast Banks Revolt Against US Dollar
Middle East Times ^
| 3/14/2006
| Staff Writers
Posted on 03/15/2006 8:58:19 AM PST by ex-Texan
click here to read article
Navigation: use the links below to view more comments.
first previous 1-20, 21-40, 41-59 last
To: ex-Texan
Iran and Syria are declaring economic war against the U.S. dollar. But other Arab nations are joining this revolt, too. I think there is more to this than just "economic warfare." I suspect these countries -- along with many other foreign investors -- are taking a good hard look at the U.S. economy and realizing that a prolonged period of inflation in the U.S. dollar is almost a certainty. This was the real reason for the 1973 "Arab oil boycott," and it's looking more and more like the early 1970s by the day around here.
To: defenderSD
Even if the USD declines, it is good for our exports and tourism.
42
posted on
03/15/2006 9:58:22 AM PST
by
Mi-kha-el
((There is no Pravda in Izvestiya and no Izvestiya in Pravda.))
To: guitfiddlist
I am not predicting the collapse of the dollar. I'm not a currency trader and I don't care about 4x issues.
But I am saying that Iran and Syria have been plotting this strategy for some time now. They want to create tough economic times for the U.S. They are using oil as a weapon against America. That is why Iran is starting the oil bourse. That is why the news media in Europe (and some in the U.S.) have been reporting that we are on an Oil Crusade in the M.E. "It's all about oil," shout CNN, CBS, and NBC. Yada, yada.
43
posted on
03/15/2006 10:23:14 AM PST
by
ex-Texan
(Matthew 7:1 through 6)
To: ex-Texan
To: thoughtomator
>>>>> I'll be amazed if it's still in use in 10 years from now.<<<<<
45
posted on
03/15/2006 11:08:17 AM PST
by
DTA
To: ex-Texan
Isn't the ME going through a stock market crash? Are they trying to deflect from that?
46
posted on
03/15/2006 11:28:14 AM PST
by
processing please hold
(Be careful of charity and kindness, lest you do more harm with open hands than with a clinched fist)
To: ex-Texan
Thanks ex-Tex for posting this. I've been reading some on this issue lately because it has raised my interests. This is simply one more piece in the assymetric warfare puzzle being waged against the USA by ME nations. They're just practicing death by a thousand cuts on us. If it hurts them too, so what? They're willing to martyr themselves to defeat us and they already live in a 3rd world shiitehole.
If they can knock the legs out from under us economically (rather than militarily), they know it'll make enough voting idiots over here mad enough to vote a Dhimmie into the POTUS in 2008, and then we go back to practicing euroweenie diplomacy with the ME like we did back in Jimmah's and Bubba's administrations. - OB1
47
posted on
03/15/2006 11:44:17 AM PST
by
OB1kNOb
(America is the land of the free BECAUSE of the BRAVE !!)
To: ex-Texan
It was rhetorical. I know where you stand.
48
posted on
03/15/2006 1:11:18 PM PST
by
Doohickey
(If you choose not to decide, you still have made a choice...I will choose freewill.)
To: PresidentFelon; cripplecreek
If we take the path pushed by the isolationist Paleo-cons we will all feel good about our "national integrity" while standing in soup lines. It is economic insanity. Thank you! This sounds like people I know who thought telling the boss off was worth getting fired for.
But didn't mind becoming financial burdens on their families and friends. How degrading.
This isn't "national integrity". It's foolishness.
49
posted on
03/15/2006 2:18:54 PM PST
by
Jorge
To: jazusamo
It surely did, but, let us not lose sight of the reaction. Is this how we are looked at because we say no to someone? We now have to say yes to all investment so to not hurt pepoles feelings? I say there are a whole lotta people confused about things...on both sides of the argument.
50
posted on
03/15/2006 2:30:05 PM PST
by
sit-rep
(If you acquire, hit it again to verify...)
To: ex-Texan
I'd like to see the list of countries that "allow the US to buy anywhere." I'll bet there are very few who do not restrict our ownership in some fashion. Mexico springs to mind, and doesn't Dubai have restrictions on foreign investments as well?
To: sit-rep
I don't think it is the "no" as much as the way the "no" was said. Had the whole thing been handled in a diplomatic way with private meetings, I'm sure something could have been worked out to everyones satisfaction and no embarrassment would have been suffered by anyone.
52
posted on
03/15/2006 2:48:39 PM PST
by
jazusamo
(:Gregory was riled while Hume smiled:)
To: jazusamo
...embarrassment would have been suffered by anyone. What the true crime is, the embarrassment is not over the way their citizens(Muslim) handle themselves at home, and abroad....
53
posted on
03/15/2006 3:00:34 PM PST
by
sit-rep
(If you acquire, hit it again to verify...)
To: ex-Texan
We should counter-threaten by saying we'll make it our nations mission to make oil obsolete in ten years.
They can go back to riding camels in that worthless sandbox.
54
posted on
03/15/2006 5:28:58 PM PST
by
Finalapproach29er
(Americans need to remember Osama's "strong horse" -"weak horse" analogy. Let's stop acting weak.)
To: ex-Texan
55
posted on
03/15/2006 6:49:58 PM PST
by
forester
(An economy that is overburdened by government eventually results in collapse)
To: ex-Texan
With the vast majority of net foreign trade surpluss tied up in United States treasuries....which so happen to be denominated in dollars...the dollar is not at risk because of this posturing...euro backed bonds are a piddle in comparison to our own...
Unless of course you think UAE, SA and the rest of the petro suppliers who recycles their windfalls back into those treasuries want to lose money on their investments.
Further the trade deficits we run also get recycled back into this country in the form of foreign investment in both debt and equity markets...also dollar denominated and backed...
I don't think this will have much of an effect on the dollar...
Read this article...I agree with it's author...
A euro challenge?
For the euro to begin to challenge the reserve role of the US dollar, a virtual revolution in policy would have to take place in Euroland. First the European Central Bank (ECB), the institutionalized, undemocratic institution created by the Maastricht Treaty to maintain the power of creditor banks in collecting their debts, would have to surrender power to elected legislators. It would then have to turn on the printing presses and print euros like there was no tomorrow. That is because the size of the publicly traded Euroland government-bond market is still tiny in comparison with the huge US Treasury market.
http://www.atimes.com/atimes/Middle_East/HC10Ak01.html
56
posted on
03/15/2006 7:03:13 PM PST
by
antaresequity
(PUSH 1 FOR ENGLISH - PUSH 2 TO BE DEPORTED)
To: antaresequity
same article as I linked in post #55
57
posted on
03/15/2006 8:14:09 PM PST
by
forester
(An economy that is overburdened by government eventually results in collapse)
To: ex-Texan
The UAE is acting like a spoiled child that didn't get it's way once on the playground and has now decided to take it's ball and go home.
To: ex-Texan
It has been some talks about trading oil in Euro in Norway too. It makes sense since our oil mostly is exported to the EU.
Navigation: use the links below to view more comments.
first previous 1-20, 21-40, 41-59 last
Disclaimer:
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson