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Clueless_Academic

Venezuela Moves All Its Reserves To Euroland -

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Just a link from 'BusinessWeek' outlining how Venezuelan President Hugo Chavez has pull out of US Investments + switched all holdings to EuroLand -

http://www.businessweek.com/ap/financialne...me_down&chan=db

Iran is also set to open its Euro denominated 'Oil Bourse' in early 2006 - see

http://www.atimes.com/atimes/Global_Economy/GH26Dj01.html

http://www.financialsense.com/fsu/editorials/2005/0823.html

These stories suggest that the US Dollar could soon come under pressure as the Global Reserve or Fiat Currency as more countries switch to Euro holdings.

Also would be interesting to see if other oil exporters, such as Russia, move towards Euro priced transactions.

Geopolitical events are now unfolding which could have serious consequences for the UK economy due to its established links with the USA -

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Thats the real reason Iran WILL be attacked very soon.

Chavez is dead meat also for the same reasons. He has tasted his last Turkey.......................

I very much doubt that, don't **** with China and Russia they need cheap oil too.

Wary about American foreign policy, he has expanded his relations with Russia, China, India and Iran. Many believe he may face more coups. The oil asset of Venezuela makes it vulnerable. But China, India and Russia have interest in the same. That may make some difference. The BRIC alliance (Brazil, Russia, India and China) will oppose any invasion or external intervention in Venezuela. It will interest to see how BRIC will defend its Venezuelan oil interests in case of a similar crisis.

http://www.indiadaily.com/editorial/2304.asp

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Chavez has a long dislike of the US. As for moving away from the USD as a reserve currency, there has been whispers, if that does happen I don't think there's a great deal America can do about it apart from stabalising their currency.

If America does decide to pick a fight on someone, I think it will be againsta soft target. Venezuela or Iran may be just a bit too hard. They will probably have to reintroduce the draft too, which is something I think they are mulling over anyway. So if you're poor and live in America, you better sharpening your Rambo knife.

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So if you're poor and live in America, you better sharpening your Rambo knife.

Not a problem: when they come to draft you, put on a dress and tell them you're gay.

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Chavez has a long dislike of the US.

Chavez is afraid that the US is going to assassinate him and/or invade Venezuela. He and just about everyone else think that the US was behind the attempted coup against him in 2002 and he believes that his assassination was ordered for the first time then. A few weeks ago a right-wing Christian nut called Pat Robertson called on US TV for Chavez to be assassinated and the adminsitration refused to condemn what he had said. Some believe Robertson to have been acting as an organ of propaganda, planting the seed of an idea that Chavez is going to be killed. Before this is dismissed as a crazy conspiracy theory, as a strange number of ideas seem to be these days, note that last week the FBI shot dead a bloke called Ojeda Rios in Puerto Rico - regarded by the US as a terrorist but by many people in Puerto Rico as the head of their independence movement. The US takes people out without a second thought, whenever it suits them. And that latest assassination, of course, adds to the massive anti-US sentiment in the region. Anyway, Chavez dumping the dollar very likely says a lot more about politics in the Americas than the state of the dollar (not that it isn't in a bad way). That's my understanding of the situation, anyway.

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Guest Bart of Darkness
Chavez is afraid that the US is going to assassinate him and/or invade Venezuela.

Probably the former. It's cheaper after all and the US may be in danger of running of of troops to invade (sorry, "liberate") other countries with.

Edited by Bart of Darkness

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The US takes people out without a second thought, whenever it suits them. And that latest assassination, of course, adds to the massive anti-US sentiment in the region. Anyway, Chavez dumping the dollar very likely says a lot more about politics in the Americas than the state of the dollar (not that it isn't in a bad way). That's my understanding of the situation, anyway.

Yes, agreed. This is more about politics than economics although, of course, the oil from Ven is very important.

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Yes, agreed. This is more about politics than economics although, of course, the oil from Ven is very important.

Surely politics IS economics? They don't do things on points of principle after all! It's all about the Houblons homie... B)

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Hmm, yes, I think you are right but, at the same time, there is now this boy in Ven who is basically sticking his fingers up to the US. The others who have done this in Latin America did not have oil.

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Guest magnoliawalls
Surely politics IS economics? They don't do things on points of principle after all! It's all about the Houblons homie... B)

Slightly off the topic of this thread but that is one of the most annoying things about economists - they purport to have a scientific and objective approach to a subject that is inherently political.

You cannot separate economics and politics and it is going to be very interesting to see how the US respond to Chavez. Of course we may never really know what agreements are reached and actions taken behind the scenes :ph34r:

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Hmm, yes, I think you are right but, at the same time, there is now this boy in Ven who is basically sticking his fingers up to the US. The others who have done this in Latin America did not have oil.

that is very significant, yes... and before the US starts thinking that they can squash the problem with limited repercussions, they might start finding problems popping up all over the world more frequently than they can be sqaushed.

Tough times ahead for the US. Still, you make your bed, you have to lie in it I suppose :rolleyes:

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They will probably have to reintroduce the draft too, which is something I think they are mulling over anyway.

A military draft would literally put the US in the same or worse category as the terrorists and dictators they supposedly oppose.

Once again the US killing innocent people in the pursit of profit.

:angry: :angry: :angry: :angry:

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A military draft would literally put the US in the same or worse category as the terrorists and dictators they supposedly oppose.

Once again the US killing innocent people in the pursit of profit.

:angry: :angry: :angry: :angry:

Unfortunately for the US commanders, many experienced troops aren't re-enlisting. Not only have many experienced the horrors of Iraq, but they then have to put up with the fact that Haliburton employess get about 4x their salary for doing a similar job (supply runs etc.).

Introducing a draft will probably make a bad situation worse. Sadly they are seriously considering it.

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Venezuela presents a huge problem to the US. For the first few years of Chavez's democratically electred reign the Venezuelan oligarchy aided by the US tried to cripple and sabotage the country (imagine every TV channel running bring-down-the-elected-government stories day in day out).

The trouble is, a majority of venezuelans are now clearly better off under Chavez and he's become something of a national hero, so a mere assination would do little to dampen 'Chazevism' with no obvious fascist junta for the US to help in like with Chile in '73. It could backfire terribly.

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Venezuela presents a huge problem to the US. For the first few years of Chavez's democratically electred reign the Venezuelan oligarchy aided by the US tried to cripple and sabotage the country (imagine every TV channel running bring-down-the-elected-government stories day in day out).

The trouble is, a majority of venezuelans are now clearly better off under Chavez and he's become something of a national hero, so a mere assination would do little to dampen 'Chazevism' with no obvious fascist junta for the US to help in like with Chile in '73. It could backfire terribly.

personally, I can't wait for the US to kill the Hugo Boss wearing Chavs...f**king dole-scum, breeding like flies and stinking the place up.

Did I miss something here?

Edited by marko

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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