The War To Save The U.S. Dollar

[54anickel]

http://www.axisoflogic.com/artman/publish/article_5716.shtml

snip>
ROGUE STATES

The first OPEC member to show serious disloyalty to the dollar was Iran, which has expressed interest in the euro since 1999. In January 2002, George W. Bush named Iran in his "axis of evil", provoking a wave of anti-American demonstrations reminiscent of the Khomeini era, and undoubtedly setting back the political and religious liberalization of that country. Undeterred, Iran converted most of its currency reserves to euros during 2002, and a proposal to price Iran's oil in euros has been submitted to the central bank and the parliament.

Let us see whether the Americans find an excuse to destabilize Iran's toddling democracy in favor of a dictatorship that just happens to prefer dollars to euros.

The second offender was Venezuela. In 2000, Venezuela's President Hugo Chavez convened a conference on the future of fossil fuels and renewable energy. The report of the conference, delivered by Chavez to the OPEC summit in September 2000, recommended that OPEC set up a computerized barter system so that members could trade oil for goods and services without the use of dollars or any other currency. The chief beneficiaries would be OPEC's poorer customers, who did not have large currency reserves. Chavez made 13 barter deals. In one of them, Cuba provided health services in Venezuelan villages.

In April 2002 there was a coup against the twice-elected President Chavez. The coup was welcomed by the Bush administration and by editorials in numerous American newspapers, but collapsed after two days, leaving evidence that the U.S. administration was behind it <1>.

more before and after this snippet....

[Tinoire]

1. Haha. I have about 100 posts on this subject.

That's what almost all these wars & coups are based on right now- saving the almight dollar. It's also the main reason France & Germany got into such a pissing contest with us over Iraq because they want the Euro to be OPEC's dominating currency. He whose currency controls the oil doesn't need to back his currency up with anything since you can just dicate what your money is worth. Their reluctance to join us had nothing to do with morals, look how fast France made our heads spin when they worked "in perfect coordination" with Bush on Haiti.

Will read this later. Thanks for posting.

The dollar is doomed and so is our entire way of life. I hope enough people wake up to this truth so that we can react in time. Time... is... ticking!

Peace

[papau]

2. Japan's central Bank has given up! - - the yen is moving up now!

:-)

[brokensymmetry]

3. That's interesting.

It appears to be another nail in the coffin for the dollar.

[Chicago Democrat]

4. What Currency is a safe haven?

Me and my portfolio wanna know? Euros? Australian Dollar? Swiss Francs? I'm going overseas at least my money is.

[54anickel]

5. No where to run to, No where to hide. Bwahahaha - Seriously though

I've seen a lot of articles pointing to the Swiss Franc (besides gold) as being considered the safe-haven. Why, in this environment of terrorism, I have no idea. :shrug:

[UpInArms]

6. kick

good article 54anickel -

thanks for the post :hi:

[Tinoire]

7. The first sentence about summed it all up:

The Americans could live with Saddam until he started selling oil for euros instead of U.S. dollars. Then the Europeans could live with him.

In 1973, the Organization of Petroleum Exporting Countries (OPEC) quadrupled the price of oil but continued to accept only U.S. dollars in payment, so that demand for dollars soared. From then on, the dollar was effectively backed by oil instead of gold -- and the U.S. government didn't even have to own the oil!

===

Thanks again

[freeforall]

8. Just a little prophecy...

When the Euro was adopted in January 2002 by many European countries, my first thought was that it would be the dominant currency by 2010.

If Bush gets in again (by some disastrous occurrence), watch some more countries switch to the Euro.

They all hate him.

Can you spell R-E-V-E-N-G-E?