Posted on 02/19/2006 1:58:44 PM PST by Racehorse
Iran and Venezuela joined forces to undermine the U.S. dollar.
Last year, Venezuelan President Hugo Chavez announced that his country's plans to move its foreign-exchange holdings out of the dollar into the euro, calling for the creation of a South American central bank designed to hold in euros all the foreign-exchange holdings of the participating countries.
On the other hand, Iran started since 2003 demanding oil payment in euros, not dollars, although the oil itself was still priced in dollars. The Islamic Republic has already announced plans of opening the Iranian Oil Bourse in March, challenging by that the NYMEX (the New York Mercantile Exchange) and IPE (London's International Petroleum Exchange).
Iranian and Venezuelan lawmakers have recently signed a document condemning nuclear weapons, yet stressing all nations’ right to peaceful uses of nuclear energy.
During a visit he paid recently to the Venezuelan capital Caracas, Iranian Parliament speaker Ghulam Ali Haddad stated that the U.S. persistent rejection to recognise Iran’s right to pursue nuclear technology to be used for civilian purposes was "only a pretext."
"They are worried that we want to be independent," Hadad Adel said.
[. . .]
But what did the Iranian diplomat mean by saying that the U.S. is "worried that we want to be independent" Iran is already an independent and not an occupied country- He didn’t mean the military occupation. . . . Mr Adel didn’t mean the military occupation, but becoming independent of the U.S. dollar.
[. . .]
By joining forces in a move expected to deal a major blow to the U.S. economy, Iran and Venezuela are encouraging and creating a golden opportunity for other states to shift foreign-exchange holdings out of dollars and into euros or other currencies.
(Excerpt) Read more at aljazeera.com ...
Hugo is such a little punk.
Let's just skip the formalities ...
He needs to have a fatal accident!
agree.
First let's stop giving them money, for oil or anything else. They appear to prefer it that way, so let's go for it!
Sure it will be painful (here) but what doesn't kill us, makes us stronger. I know I could use more exercise, riding a bike to work or carpooling wouldn't hurt most of us. And if we really really had to, I suspect we in this great country can come up with alternatives if we get desperate enough.
I'm surprised Kerry has been silent! Hasn't Hugo nationalized ton of companies including, the Heinz factory?
Hugo Chavez is just an attention whore.
"The Russians watched the budget for the U.S. military increase, culminating in Reagan's grand promise to create the Strategic Defense Initiative -- better known as Star Wars. While many U.S. experts doubted whether such a missile shield was even feasible -- and it never was built -- the Soviets were not among the skeptics. They pulled out the generals to give endless press conferences on the insanity of such an "aggressive" move, and the papers were apoplectic with criticism.
But Reagan repeatedly upped the ante -- and the Soviets realized that the costs of matching him militarily were beyond their means. The Soviet economy was languishing: Military spending ate up 14% of the budget, while growth slowed to 2.2% -- too weak to meet the nation's economic goals."
Use less oil. Burn more coal.
With Nut-Jobs like Chavez around, we need offshore drilling more than ever. With the clowns in FL, CA seeking to ban such drilling, it puts us in a dangerous position. Anybody that supports such a ban is supporting Chavez, and his Iran buddies, and further US subservience to foreign psychos.
The U. S. does not buy oil from Iran. If the U. S. stopped buying Venezuela's oil that nation would shrink up and blow away.
In their dreams.
We're probably going to see if your theory holds water since the Chinese are dealing with Hugo to put Venezuelan oil under contract to them, and Hugo is now threatening to cut the oil he ships to us by 1/2 in the near future.
The Vens economy would tank inside 60 days if they stopped shipping. Hugo knows it but runs his mouth anyway.
He could do that, but that would free up someone else's production for us to use. Check out today's Dilbert for Dogbert's wonderful description of fungible and the oil markets.
Islamocommienazis everywhere, unite!
The race to the end of this dispensation is gaining momentum.
Got Jesus?
You're just trying to cheer us all up....aren't you.
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