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Iran, Venezuela declare war on petrodollar

 
Observer
User ID: 33172
United Kingdom
02/09/2006 08:19 AM
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Iran, Venezuela declare war on petrodollar
So it begins... the attack on the dollar is imminent.

[link to worldnetdaily.com]
Anonymous Coward
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Germany
02/09/2006 08:28 AM
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Re: Iran, Venezuela declare war on petrodollar
After Japan, China has the world's second-largest cache of foreign-exchange currency – some $800 billion today – an amount that is expected to grow to $1 trillion this year. In January 2006, China announced an intention to reduce 75 percent of its foreign-exchange reserves currently held in the dollar. Economists widely expect China's move will put downward pressure on the dollar, depending on how much diversification China decides to make into other world currencies. As Iran struggles to fight off world pressure over the defiant path it has chosen to take in pursuing nuclear technologies, Iran might well seek to convince China to hold significantly fewer dollars in their foreign-exchange reserves.

Venezuela and Iran have much in common – both countries are radically anti-America, both have extensive oil reserves, both are resolved to use oil as an economic weapon against the United States. The three countries voting against the IAEA resolution on Feb. 4 were Cuba, Syria and Venezuela. Iranian President Mahmoud Ahmadinejad has just accepted an invitation from Fidel Castro to visit Havana to attend the Sept. 11-16 Non-Aligned Summit and most likely to address the Cuban National Assembly.

A Tehran-Caracas Axis clearly extends also to Havana and Damascus. Whether we realize it or not, we are already involved in an economic war that could easily turn into a shooting war, starting with Iran.
Anonymous Coward
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02/09/2006 08:31 AM
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Re: Iran, Venezuela declare war on petrodollar
if they had any brains, they would
demand payment in gold
Anonymous Coward
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02/09/2006 08:50 AM
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Re: Iran, Venezuela declare war on petrodollar
yes that's a good point. There are not countries around the world with US dollars stuffed up to the rafters.

China alone has one trillion US dollars and is adding 50 billion a month. If they are smart, all these countries will be converting the monopoly money into something besides pieces of paper with pictures on them issued by a bankrupt entity, before it becomes wallpaper.
Anonymous Coward
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02/09/2006 08:51 AM
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Re: Iran, Venezuela declare war on petrodollar
secret key

not=now
Anonymous Coward
User ID: 1373
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02/09/2006 08:59 AM
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Re: Iran, Venezuela declare war on petrodollar
If they are smart, all these countries will be converting the monopoly money into something besides pieces of paper with pictures on them issued by a bankrupt entity, before it becomes wallpaper.

-----------------------------

Do you really think that these countries are so stupid as to keep paper dollars stuffed in their mattresses?

You all need to learn something about economics before you start worrying about what other countries are going to do to devaluate the dollar.

(Also, please tell me how it would be in China's interest to devaluate the dollar when that would decrease the value of their investments.)
Anonymous Coward
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02/09/2006 09:12 AM
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Re: Iran, Venezuela declare war on petrodollar
That was quick, link is dead already!
Anonymous Coward
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02/09/2006 09:18 AM
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Re: Iran, Venezuela declare war on petrodollar
There is no such term as "devaluate" mr wizard.

China does indeed have one trillion dollars in US treasury obligations Mr Wizard. US treasury obligations are US dollars.

Now hurry along and get to school.
ScienceOnly
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02/09/2006 09:37 AM
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Re: Iran, Venezuela declare war on petrodollar
I think there are a few countries that see the end to the hegemony of the US dollar and are buying gold, along with people and peoples that see the writing on the wall.

It is awsome to watch the global powers circle each other like great wild beasts, snarling and looking for a weakness in the opponent.

Right now, it looks like South America is teaming up with China, Korea, Iran, Russia, and a few more...that is an AWSOME combination of power and resources.

The NWO powers in London and Washington have been rocked back on their heels. How can they handle a Venezuela here, a Korea there, an Iran over there...all the while keeping the "Confidence game" going with the US dollar as world reserve currency?

Back when I just becam aware of some of these goings-on, I would muse, "If I were the leaders of a few foreign countries, I could break the USA without firing a shot." What I was doing was attempting to verbalize how fragile the house-of-cards really is.

After a little more time and maturity, I now realize that it will indeed take a war to undo the USA's death-grip on the world. This is because the London/USA will not just sit quietly and watch all this happen. They will not allow a Saddem here, or a Amahdinejad (sp) there to suddenly dismantle an oil selling scheme that has been making billions and billions for the world elite. No WAY! These guys are going to fight to the death to save their power base.

So the Chavezes and Ahmadinejades and Castros of the world are having to be cunning and shrewd in their dealings.

I believe it is just about checkmate time for the London/USA elite, and they are going to have to do something realy REALLY radical or all will be lost. Or, they can just let the ship sink, and make sure they're off of it when it does.

Very interesting times...Thank's for posting the article!

peace

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