Thursday, 8 October 2009

Arab States Have Launched Secret Moves To Stop Using U.S. Currency For Oil Trading

In the most profound financial change in recent Middle East history, Gulf Arabs are planning - along with China, Russia, Japan and France - to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.

Secret meetings have already been held by finance ministers and central bank governors in Russia, China, Japan and Brazil to work on the scheme, which will mean that oil will no longer be priced in dollars.

The plans, confirmed to The Independent by both Gulf Arab and Chinese banking sources in Hong Kong, may help to explain the sudden rise in gold prices, but it also augurs an extraordinary transition from dollar markets within nine years.

http://www.huffingtonpost.com/2009/10/06/arab-states-have-launched_n_310826.html

This is not going to go unchallenged by the US government. Economic matters are regarded as a US National Security issue. What will we see next ? More false flag terror to initiate a War with Iran ? A derivatives implosion in the financial markets ? A serious bio-weapons release ? What will be used to seed anarchy and tame dissent here ?

[Posted at the SpookyWeather blog, October 8th, 2009.]

2 comments:

steven andresen said...

spook,

It occurs to me that the Republicans as "right-wingers" who applaud Obama's failures, may not go along with any action by the United States lead by Obama to maintain or promote dollar hegemony.

I say this for a couple of reasons.

The Republican screamers are focused on doing anything they can to defeat Obama lead initiatives. They would resist whatever Obama would do to defend the dollar because when he loses, they think, they win.

I believe the right wing also believes that Obama leads a secret conspiracy to promote one world government. They would promote anything that would tend to destroy Obama's efforts to create such a world dictatorship of the "proletariat." Hence, they would want to see the dollar weakened.

I have friends who argue that the Bush faction of the right wing, those guys involved in the military and intelligence projects like Ieraq, Afghanistan, and the Columbia project, do not care whether oil is priced in dollars, depite the fact that the American economy depends on such a deal. This is because these large corporations are now internationally based and don't now care what happens to the people on the ground in this country.

I wonder whether a U.S. attack on Iran would just hasten these moves to dump the dollar. The fact is many of these countries have reasons to stick it to us and another unjust war on Iran might persuade them that Iran is the line the U.S. should not cross.

So, Obama goes in to Iran because he's own by the corporations, or by the military, or by Israel, it doesn't matter. The push back will be certain steps to cripple the U.S. economy.

Or, does this not make sense?

SpookyPunkos said...

Steve,

What you are saying makes very good sense.

I cannot fault what you are stating here. I think your point about the nature of the corporations and their international aspect is very telling.

I'd like to emphasise that I don't think that it's "about Obama" at all. As you know, the left/right theatre is only important as it distracts the population. At present it looks like many people are now fed up with the show and want to see results. Congress overall has never been popular, and now we are seeing Obama's poll ratings plummet.

The main issue here is about control from the players behind the scenes. I think that people like Alex Jones might be right. The uber rich in the US, the ones that buy the politicians, and the intel/military establishment, would not be too worried if there was a dollar crisis.

Depending on the situation, the Obama puppet can usher in a dictatorship while trying to fix a problem that was "not America's fault" or he can be the scape goat for a massive disaster pinned on US policy that will bring in a right wing dictator.

I'm not sure what plans are afoot, I suspect the former plan rather than the latter. I think that impoverishing the country and exercising a level of martial law would be the goal. The aim is to get to a stage like seen in such movies as The Running Man. No kidding.

The internet would be censored too.

I think that much of this scenario HAS to require a huge false attack, like a nuclear 911. The aim would be to set up a calamity, or a series of massive calamities. 911 was so effective so why not do this on a much grander scale ? I'm sure there are attempts in the pipeline but there's also resistance from within the intelligence community. Not everyone out there is a power mad, strategic minded maniac.

Also, to counter US rivals, I would not be surprised to see the calamities involving bio weapons: pandemics focused on China and Europe. More likely in China than the latter.

Less Chinese will level the playing fields when the US goes down.

The game, for those in strategic planning, is to stop dissent, to keep control of the game. The World/US Economy will be going down anyway so they need a mechanism to retain power rather than see the "angry mob" rise up and wash away the institutions that are partly to blame here.

Yes, I don't think there would be too much real concern about the dollar falling here by the powers that be. However, for most people, including economists, American businesses etc, this dollar crisis is something that is not welcome !

The problem for the resistance here is that the dollar/US economy has been fundamentally weakened by larger forces- US gov policy, new Laws and is beholden to the actions of a few - basically the big banks/ federal gov in the derviatives market + via astronomical government debt.

The choice in seeing how things go is not in the hands of the people who will be suffering the most. The US population is certainly living under a giant sword of damocles. The only "solution" is to educate people about the dangers. At this point, stopping an economic disaster is nigh on impossible. As for false flag attacks, we need more eduation about 911 & criminal trials or a benevolent coup followed by a return to the rule of law and Constitution.