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Pilger On Irans Forthcoming Euro-based Oil Bourse.....

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A likely scenario or scaremongering ?.....................

The Next War -- Crossing The Rubicon February 11, 2006 By John Pilger

........snip...................

...........an American attack on Iran, which is very real and probably imminent.

Blair knows this. He also knows the real reasons for an attack and the part

Britain is likely to play. Next month, Iran is scheduled to shift its

petrodollars into a euro-based bourse. The effect on the value of the dollar

will be significant, if not, in the long term, disastrous. At present the

dollar is, on paper, a worthless currency bearing the burden of a national

debt exceeding $8trn and a trade deficit of more than $600bn. The cost of

the Iraq adventure alone, according to the Nobel Prizewinning economist

Joseph Stiglitz, could be $2trn. America's military empire, with its wars

and 700-plus bases and limitless intrigues, is funded by creditors in Asia,

principally China.

That oil is traded in dollars is critical in maintaining the dollar as the

world's reserve currency. What the Bush regime fears is not Iran's nuclear

ambitions but the effect of the world's fourth-biggest oil producer and

trader breaking the dollar monopoly. Will the world's central banks then

begin to shift their reserve holdings and, in effect, dump the dollar?

Saddam Hussein was threatening to do the same when he was attacked.

While the Pentagon has no plans to occupy all of Iran, it has in its sights

a strip of land that runs along the border with Iraq. This is Khuzestan,

home to 90 per cent of Iran's oil.

"The first step taken by an invading force," reported Beirut's Daily Star,

"would be to occupy Iran's oil-rich Khuzestan Province, securing the

sensitive Straits of Hormuz and cutting off the Iranian military's oil

supply." .........................continued

USENET.........uk.politics.misc

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We've been over this many times, Pilger is just recycling what has been discussed in many circles for months now, in the real world Iran is busily shifting out of all their Euro assets because of the threat of sanctions.

Ironically somebody just praised Pilger as a quality journalist in a different thread. Yeah, it seems he always has a new shocking revelation, obviously the background to his story took his just under two minutes on Google.

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Swiss Francs anyone?

So the Swiss will just end up holding dollars as liquidity backing for the franc, I don't think this is the end of civilization.

I'd be more worried about the Sterling in the medium term, last year we switched to being a net importer of fuel, eventually we will be purchasing £0.5b a month in imported fuel and we'll cease to have a petro-currency, this will make all imports more expensive.

Weak currency, lost tax revenues, expensive imports, no manufacturing base to drive exports, I wouldn't want to be living in that country! Hrm, crap.

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Pilger is one of the few that have not been silenced by the media machine and is amongst the growing army of people who openly say that the 9/11 was an inside job and carried out with the full backing of George W bush and his farther.

http://pilger.carlton.com/print/124759

American corrupt leaders are not going to go bankrupt like Russia did but will have a go at taking the whole world on.

Poor Americans have been so brain washed that they let the government kill thousands of their own people on 9-11 in a vain attampt to preserve their standard of living.

Would you trust a government like that ?

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A likely scenario or scaremongering ?.....................

USENET.........uk.politics.misc

"That oil is traded in dollars is critical in maintaining the dollar as the

world's reserve currency"

central banks choose to hold dollars but not for the reason that oil is dollar denominated. dollars from oil sales can be immediately traded for another currency,if oil was denominated in euro people would just change it to dollars as they choosse to hold dollars,a weak dollar would help americas exports and may cut trade deficit.

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Pilger is one of the few that have not been silenced by the media machine and is amongst the growing army of people who openly say that the 9/11 was an inside job and carried out with the full backing of George W bush and his farther.

It's very kind of you to undermine Pilger's credibility like that. I will take even less notice of what he has to say in the future.

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Pilger is one of the few that have not been silenced by the media machine and is amongst the growing army of people who openly say that the 9/11 was an inside job and carried out with the full backing of George W bush and his farther.

Pilger says nothing of the sort. His point is only that the neocons have used 9/11 as an alibi for the PNAC. Rubbishing Pilger wont' work because people can read what he says for themselves.

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We've been over this many times, Pilger is just recycling what has been discussed in many circles for months now, in the real world Iran is busily shifting out of all their Euro assets because of the threat of sanctions.

Ironically somebody just praised Pilger as a quality journalist in a different thread. Yeah, it seems he always has a new shocking revelation, obviously the background to his story took his just under two minutes on Google.

Hi BuyingBear

I'm the 'somebody' that cited Pilger as a reasonable example of a journo earlier today - glad you credited me as a 'somebody' rather than a 'nobody' as I'm just a 'newbie' and not from the exhaulted ranks of HPC Veterans - perhaps a little bit of easy (i.e. Pilger-like, in your opinion) research on your part might have enabled you to mention the name of the poster you were referring to?

Anyway, I think you might find that Pilger made his name and reputation decades ago working for the likes of World In Action and The Mirror (back when it was a credible newspaper) - risking his life in war zones etc. I guess he must have done all that by sitting on his backside at a PC and criticising? Does that sound familiar?

Journos were being criticised (rightly) on this site earlier today for not reporting the important topics of the day - now you're criticising Pilger for adding his relatively well-known opinion to the petrodollar debate. Frankly, who cares if you are bored with the topic? With what I've read so far it sounds credible enough to have some influence on the Iran situation, expecially after what happened in Iraq. I'd like to hear more about why this is or is not a credible theory. Can you shed more light on Iran's movement away from assets held in Euros?

Cheers

LL

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I'd like to hear more about why this is or is not a credible theory. Can you shed more light on Iran's movement away from assets held in Euros?

Iran 'moves assets out of Europe'

Though I hear there is still a roaring trade in national flags.

There is never any single reason behind things, it's a multitude of factors over many years, whether it be the status of the US Dollar, the Euro, Iran, Iraq or how Carol Smiley still manages to get on TV.

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TO CONCLUDE THEN....

Am I right in thinking the Iran dollar/euro thingy will not actually have much effect on the dollar?

Opinions differ................

II. Iranian Oil Bourse

The Iranian government has finally developed the ultimate "nuclear" weapon that can swiftly destroy the financial system underpinning the American Empire. That weapon is the Iranian Oil Bourse slated to open in March 2006. It will be based on a euro-oil-trading mechanism that naturally implies payment for oil in Euro. In economic terms, this represents a much greater threat to the hegemony of the dollar than Saddam's, because it will allow anyone willing either to buy or to sell oil for Euro to transact on the exchange, thus circumventing the U.S. dollar altogether. If so, then it is likely that almost everyone will eagerly adopt this euro oil system:

The Europeans will not have to buy and hold dollars in order to secure their payment for oil, but would instead pay with their own currencies. The adoption of the euro for oil transactions will provide the European currency with a reserve status that will benefit the European at the expense of the Americans.

The Chinese and the Japanese will be especially eager to adopt the new exchange, because it will allow them to drastically lower their enormous dollar reserves and diversify with Euros, thus protecting themselves against the depreciation of the dollar. One portion of their dollars they will still want to hold onto; a second portion of their dollar holdings they may decide to dump outright; a third portion of their dollars they will decide to use up for future payments without replenishing those dollar holdings, but building up instead their euro reserves.

The Russians have inherent economic interest in adopting the Euro - the bulk of their trade is with European countries, with oil-exporting countries, with China, and with Japan. Adoption of the Euro will immediately take care of the first two blocs, and will over time facilitate trade with China and Japan. Also, the Russians seemingly detest holding depreciating dollars, for they have recently found a new religion with gold. Russians have also revived their nationalism, and if embracing the Euro will stab the Americans, they will gladly do it and smugly watch the Americans bleed.

The Arab oil-exporting countries will eagerly adopt the Euro as a means of diversifying against rising mountains of depreciating dollars. Just like the Russians, their trade is mostly with European countries, and therefore will prefer the European currency both for its stability and for avoiding currency risk, not to mention their jihad against the Infidel Enemy.

Only the British will find themselves between a rock and a hard place.............continued

Iranian oil bourse

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A likely scenario or scaremongering ?.....................

Scaremongering - and consistently taking an unconventional perspective doesn't make Pilger a credible journalist (I speak as an editor who wouldn't touch this sort of copy with a barge-pole.)

The US is in no position to take on Iran - it has neither the manpower nor the funding.

The DoD is struggling to meet its current spending commitments (see the QDR - there have been some significant cuts) and it relied on massive supplementals to meet the costs associated with Iraq and Afghanistan.

It's current manpower resources are so stretched that it could only become active in another theatre by introducing conscription.

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The US is in no position to take on Iran - it has neither the manpower nor the funding.

The DoD is struggling to meet its current spending commitments (see the QDR - there have been some significant cuts) and it relied on massive supplementals to meet the costs associated with Iraq and Afghanistan.

It's current manpower resources are so stretched that it could only become active in another theatre by introducing conscription.

Yes, the Army is using what it calls stop loss.

http://www.csmonitor.com/2006/0131/dailyUpdate.html

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Justice mentioned 9/11 being an "inside job". That I do not believe and I doubt any balanced person would, but, there is credible technical/scientific opinion that the buildings were demolished by charges. This is not as fanciful as it may appear. The original plot against the Twin-Towers (in the mid 1990s) was to topple one tower against the other so that they both crashed down across lower Manhattan, killing perhaps 100,000 people in an apocalyptic vision of destruction. It is plausible that in reaction to that, US security placed charges in the buildings so that, come absolute extremis, it would be possible to demolish the buildings by controlled collapse to avert a greater tragedy.

If this is so, then the question is, who gave the order, knowing that hundreds of fire-fighters would die? Did somebody panic? This would be the real scandal.

I have not looked into this in enough detail to decide whether there is anything in it or not, but I find it plausible that it MIGHT have happened that way - SNAFU rather than conspiracy.

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Justice mentioned 9/11 being an "inside job". That I do not believe and I doubt any balanced person would, but, there is credible technical/scientific opinion that the buildings were demolished by charges. This is not as fanciful as it may appear. The original plot against the Twin-Towers (in the mid 1990s) was to topple one tower against the other so that they both crashed down across lower Manhattan, killing perhaps 100,000 people in an apocalyptic vision of destruction. It is plausible that in reaction to that, US security placed charges in the buildings so that

Stop talking ******, try actually visiting the US sometime instead of just reciting delusional fiction if you've read on some crackpot website, the security services have enough problems as it is without having to wreak havoc on themselves by blowing up their own buildings and killing their own citizens. Do you think they woke up one day and said "I know lets blow something up then everyone can ask why we and our entire civil defense is incompetent and off-guard". Get real.

If you're still left wondering why journalists don't take this site seriously then look no further than today's conspiritorial ramblings.

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Stop talking ******, try actually visiting the US sometime instead of just reciting delusional fiction if you've read on some crackpot website, the security services have enough problems as it is without having to wreak havoc on themselves by blowing up their own buildings and killing their own citizens. Do you think they woke up one day and said "I know lets blow something up then everyone can ask why we and our entire civil defense is incompetent and off-guard". Get real.

If you're still left wondering why journalists don't take this site seriously then look no further than today's conspiritorial ramblings.

Well, there is the USS Liberty

And there was a plan in the 60's to blow some national icon up and blame the Cubans but it was never carried out.

Anyone remember 'The Power of Nightmares" shown on BBC2 a while ago? The invisible enemy and the enemy that never was. I think its available on informationclearinghouse.info

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This is from George Monbiot, back in April 2003:

url=http://www.monbiot.com/archives/2003/04/22/the-bottom-dollar/

Last year, Javad Yarjani, a senior official at OPEC, the oil producers’ cartel, put forward several compelling reasons why his members might one day start selling their produce in euros. Europe is the Middle East’s biggest trading partner; it imports more oil and petrol products than the US; it has a bigger share of global trade; and its external accounts are better balanced. One key tipping point, he suggested, could be the adoption of the euro by Europe’s two principal oil producers: Norway and the United Kingdom, whose Brent crude is one of the “markers” for international oil prices. “This might”, Yarjani said, “create a momentum to shift the oil pricing system to euros.”

If this happens, then oil importing nations will no longer need dollar reserves in order to buy oil. The demand for the dollar will fall, and its value is likely to decline. As the dollar slips, central banks will start to move their reserves into safer currencies, such as the euro and possibly the yen and the yuan, precipitating further slippage. The US economy, followed rapidly by US power, could then be expected to falter or collapse.

And now the threat may become a reality. I think the US takes this seriously, their certainly paranoid. Invasion seems very unlikely and many countries would fear a transfer of power away from the US to the Islamic Middle East. The US use a kind of inverse blackmail – use our dollars or you’ll shoot yourself.

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Well, there is the USS Liberty

And there was a plan in the 60's to blow some national icon up and blame the Cubans but it was never carried out.

Anyone remember 'The Power of Nightmares" shown on BBC2 a while ago? The invisible enemey and the enemy that never was. I think its available on informationclearinghouse.info

So the Israelis blew up the twin towers, targeting the financial establishment in the heart of New York? Hrm, I think we're getting to the bottom of things now. I also hear they suck the blood of the innocent and I woke up with a mark on my arm, could this mean something ?!?

I'm quite aware of Adam Curtis' work :-

Much of the currently perceived threat from international terrorism, the series [The Power of Nightmares] argues "is a fantasy that has been exaggerated and distorted by politicians. It is a dark illusion that has spread unquestioned through governments around the world, the security services, and the international media."

What I saw on the morning of July 7th might well of been a nightmare but it certainly wasn't imagined nor was it a "fantasy". Even the majority of the naive fools that followed him woke up to the fact long before then.

You don't need to create boogeymen, we have enough of our own.

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So the Israelis blew up the twin towers, targeting the financial establishment in the heart of New York? Hrm, I think we're getting to the bottom of things now. I also hear they suck the blood of the innocent and I woke up with a mark on my arm, could this mean something ?!?

Eh, I didn't say the Israelis were involved. I was just pointing out that Govts can have ulterior motives.

I'm quite aware of Adam Curtis' work :-

What I saw on the morning of July 7th might well of been a nightmare but it certainly wasn't imagined nor was it a "fantasy". Even the majority of the naive fools that followed him woke up to the fact long before then.

You don't need to create boogeymen, we have enough of our own.

That same sentiment goes for Orwells work 1984?

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Eh, I didn't say the Israelis were involved. I was just pointing out that Govts can have ulterior motives.

That same sentiment goes for Orwells work 1984?

*yawn* If only I could live in Curtis' world where we can defy reality, that's 1984 style, trains just blow themselves up, it's all a dream, it didn't really happen, it's a "fantasy" and families don't really lose brothers, sisters, fathers and mothers, people aren't maimed for life.

Alternatively you could just ******ing wake up.

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*yawn* If only I could live in Curtis' world where we can defy reality, that's 1984 style, trains just blow themselves up, it's all a dream, it didn't really happen, it's a "fantasy" and families don't really lose brothers, sisters, fathers and mothers, people aren't maimed for life.

Alternatively you could just ******ing wake up.

And Govts perpetuating war is just a fallacy made up by Orwellians. Lets see, first there was communism, then the even more abstract war on terror.

I think if you understood Curtis you'll find he is talking about the myths behind the reality. I don't know how you come to your warped conclusion.

I'd rather wake up and smell the shit, not bury my head in it.

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  • 301 Brexit, House prices and Summer 2020

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