Fragile Dollar Hegemony: Iran’s Oil Bourse could Topple the Dollar
5 February 2008, 19:28
Does Iran really need a new bourse? After all, if you have kept up with real news on the net, Abu Dhabi, Kuwait, the United Emirates, heck virtually every oil exporting country in the world, major exceptions Canada and Saudi Arabia, have already unpegged their currencies from the US dollar and are using other more stable currencies, [mostly euros, yen and the yuan] for all their oil transactions.
It is lunacy for any oil exporter to continue to peg their nation’s currency to an exorbitantly overvalued US dollar. To continue to do so will only drag their own economies to the ground.
This is one major reason as to why the US dollar keeps falling, most of the world’s oil exporting countries are getting rid of the dollar for their oil transactions and they are getting rid of those dollars fast.
This means end game for the neocons and their military adventures.
For without a vibrant economy and a stable currency, empire building is unsustainable and too often self-destructive. Just ask the Romans, the French of the late 18th Century, or the Soviets for that matter.
How can anyone run a military machine as gargantuan as the US military with a dollar that shrinks at every turn and with an economy that is rapidly going down the tubes?
Remember the US is no longer and hasn’t been for nearly a decade, the world’s industrial giant, nor is it the world’s greatest economic power either, the nations of the Far East have taken over the former position, and as of this past year, the EU has a greater GDP than the US.
A nation that continues to feed its giant military machine (the US outspends the rest of the world COMBINED in defense expenditures, well over $500 billion a year) on a receding economy burdened with an aging & dwindling industrial base as well as a humungous debt load of over $9 trillion will very soon go bankrupt. Very soon, as in within two or three years if not sooner.
Can you spell ’Weimar Republic’?
And the final clincher: 55% of the US national debt is in the hands of foreign central banks, who are also rapidly trading in those dollars for something of real value and stability.
AS Napoleon succintly said ’An army travels on its stomach’.
Quite true, and without any REAL money, there will soon be no food in the US military’s stomach and no real stomach to fight endless, useless and costly wars all for the sake of a fake "Pax Americana".
Does Iran really need a new bourse? After all, if you have kept up with real news on the net, Abu Dhabi, Kuwait, the United Emirates, heck virtually every oil exporting country in the world, major exceptions Canada and Saudi Arabia, have already unpegged their currencies from the US dollar and are using other more stable currencies, [mostly euros, yen and the yuan] for all their oil transactions.
It is lunacy for any oil exporter to continue to peg their nation’s currency to an exorbitantly overvalued US dollar. To continue to do so will only drag their own economies to the ground.
This is one major reason as to why the US dollar keeps falling, most of the world’s oil exporting countries are getting rid of the dollar for their oil transactions and they are getting rid of those dollars fast.
This means end game for the neocons and their military adventures.
For without a vibrant economy and a stable currency, empire building is unsustainable and too often self-destructive. Just ask the Romans, the French of the late 18th Century, or the Soviets for that matter.
How can anyone run a military machine as gargantuan as the US military with a dollar that shrinks at every turn and with an economy that is rapidly going down the tubes?
Remember the US is no longer and hasn’t been for nearly a decade, the world’s industrial giant, nor is it the world’s greatest economic power either, the nations of the Far East have taken over the former position, and as of this past year, the EU has a greater GDP than the US.
A nation that continues to feed its giant military machine (the US outspends the rest of the world COMBINED in defense expenditures, well over $500 billion a year) on a receding economy burdened with an aging & dwindling industrial base as well as a humungous debt load of over $9 trillion will very soon go bankrupt. Very soon, as in within two or three years if not sooner.
Can you spell ’Weimar Republic’?
And the final clincher: 55% of the US national debt is in the hands of foreign central banks, who are also rapidly trading in those dollars for something of real value and stability.
AS Napoleon succintly said ’An army travels on its stomach’.
Quite true, and without any REAL money, there will soon be no food in the US military’s stomach and no real stomach to fight endless, useless and costly wars all for the sake of a fake "Pax Americana".