cromagnum Posted August 22, 2006 Share Posted August 22, 2006 Our whole economic system depends on continuing the current monetary arrangement, which means recycling the dollar is crucial. Currently we borrorw over $700 billion every year from our gracious benefactors, who work hard and take our our paper for goods.... Then we borrow all the money we need to secure the empire(defense budget $450billion)plus more.. The military might we enjoy becomes the backing of our currency. There are no other countries that can challenge our military superiotity, and therefore they have little choice but to accept the dollars we declare are todays gold.. This is why countries that challenge the system----like Iraq, Iran and venezuela----become targets of our plans for regime change... Petro dollars and regime change! http://www.house.gov/paul/congrec/congrec2006/cr021506.htm Link to comment Share on other sites More sharing options...
SD Jarhead Posted August 25, 2006 Share Posted August 25, 2006 That is a very enlightening read...I'm suprised no one has commented on it to this point. I think that we may be heading in to a recession like we saw in the late 70's. Most Americans have borrowed themselves into a big hole using home equity, which is drying up quickly. With all the creative lending schemes that allowed people to buy a house, there will be many foreclosures before you know it once the economy takes a downward turn. It's just like our country borrowing...some day you'll have to pay the piper. The question is when? Link to comment Share on other sites More sharing options...
cromagnum Posted August 25, 2006 Author Share Posted August 25, 2006 That is a very enlightening read...I'm suprised no one has commented on it to this point. I think that we may be heading in to a recession like we saw in the late 70's. Most Americans have borrowed themselves into a big hole using home equity, which is drying up quickly. With all the creative lending schemes that allowed people to buy a house, there will be many foreclosures before you know it once the economy takes a downward turn. It's just like our country borrowing...some day you'll have to pay the piper. The question is when? 751299[/snapback] Thank you for the comments on the subject... I have looked at this angle for about 3 months and found it interesting, I will post some links in this post in about 20 minutes... The economic relationship to the petrol dollar and the U.S. economy and ''possible rational for war and that includes the other reasons such as broken resolutions,wmd's and installing a democracy to promote western democracy in the mid-east is all open to debate, I'm not discounting any rational just would like to discuss and further my knowledge... I am clearly at a disadvantage in global economics and the relationship of the us petro dollar in that subject, but I am reading and learning about it and eager to read other posters educated opinions and thoughts on the subject. An article about the the U.S. dollar crisis on the horizon. http://www.globalresearch.ca/index.php?con...210&articleld=1 Oil currency, and the war on iraq. http://www.feasta.org/documents/papers/oil1.htm Iran. http://www.energybulletin.net/2913.html The proposed Iranian oil bourse. http://www.financialsense.com/editorials/p.../2006/0120.html Thats it for now, I'm hitting the rack in 30 minutes. Good morning everybody, I will add a few links, hope thats not to big of a deal. If this is a problem, please pm me and discuss your concerns,I am comfortable with diplomacy and will ammend the error of my ways accordingly, peace! Cost of war. http://costofwar.com/embed.html A macroeconomic and geostrategic analysis of the situation http://www.ratical.org/ratville/CAH/RRiraqWar.html Oil currency Geopolitics:Europe,China,Iran and the United States. http://peakoil.com/static/editorial/Oil_Cu...Geopolitics.htm Link to comment Share on other sites More sharing options...
cromagnum Posted August 25, 2006 Author Share Posted August 25, 2006 I, too, read the speech and am browsing thru the 'macroeconomic' one second from bottom. This is eye-opening when you reconcile with some of the events in the recent past and, now, the drumming up for war w/ Iran in the not-too-distant future. All I could say is 'wow.' Waging a war (among other reasons (tho the other reasons were always dubious to me for the same reason why Cananda doesn't invade us b/c we sentence X-amount of people to death row) including saying Iraq had WMD when surprise, surprise it didn't) to maintain the value of our dollar and to try to control people of the world to essentially use our paper money to shop. I've been waiting for someone else to comment on the veracity; I'm no economist. We hear NONE of this in the press, even the in-depth press and supposedly expert commentators. I wonder why that is.... Is this what the Dems were saying "No war for oil"? Tho that doesn't seem to grasp what the concept here is was about and I don't remember ever hearing about dollar hegemony. Then again, I like to joke that I'm less well-read than the average bus driver. I'm sure someone here will probably call me the 'L-word' or call me 'unpatriotic' but hanging onto the last vestiges of the dollar's power is, to me, a sh---y reason to be among the top two reasons, after the BS is filtered out, to start a war. 751751[/snapback] I found it interesting myself, and I wondered why news sources never mention it, at least I have never witnessed this issue in the news.. Resolutions,WMD's,Regime change, ((((Petro dollar?))))??? Or we could ask the bush administration, they are true and credible I know from only talking to '' hired investors in stocks'' who claim the media is iffy sometimes when it comes to investment news, they said that, not me, meaning the conventional media is shadowy to an extent...But if a us congressman is willing to make this claim about hegemony, maybe there is something there? Maybe the bigguns in the forum will come in the thread and say yay or nay with an explanation so we all can gain more knowledge from those in the know and a better understanding of the petro dollar and its good and bad in the global economy and the what ifs? Come on GG CTM or posters that are knowledgable on the subject whats the deal with this petro dollar, Junk? or possible? Link to comment Share on other sites More sharing options...
GG Posted August 25, 2006 Share Posted August 25, 2006 Come on GG CTM or posters that are knowledgable on the subject whats the deal with this petro dollar, Junk? or possible? 751853[/snapback] Use the search function - circa 2002-2003. Also sheck out all posts from a guy who was a ghost and is one now. No need to rehash everything that's been written. Link to comment Share on other sites More sharing options...
chicot Posted August 26, 2006 Share Posted August 26, 2006 I found it interesting myself, and I wondered why news sources never mention it, at least I have never witnessed this issue in the news.. Resolutions,WMD's,Regime change, ((((Petro dollar?))))??? Or we could ask the bush administration, they are true and credible I know from only talking to '' hired investors in stocks'' who claim the media is iffy sometimes when it comes to investment news, they said that, not me, meaning the conventional media is shadowy to an extent...But if a us congressman is willing to make this claim about hegemony, maybe there is something there? Maybe the bigguns in the forum will come in the thread and say yay or nay with an explanation so we all can gain more knowledge from those in the know and a better understanding of the petro dollar and its good and bad in the global economy and the what ifs? Come on GG CTM or posters that are knowledgable on the subject whats the deal with this petro dollar, Junk? or possible? 751853[/snapback] I seem to remember TPS (I think he's an economist?) having something to say on this subject a while back. Link to comment Share on other sites More sharing options...
TPS Posted August 26, 2006 Share Posted August 26, 2006 I seem to remember TPS (I think he's an economist?) having something to say on this subject a while back. 752066[/snapback] Thanks for remembering Chicot. If anyone is interested I wrote a paper on the topic and would be happy to send you a copy. Link to comment Share on other sites More sharing options...
cromagnum Posted August 26, 2006 Author Share Posted August 26, 2006 Thanks for remembering Chicot. If anyone is interested I wrote a paper on the topic and would be happy to send you a copy. 752151[/snapback] I would like to read the report, I quess you will fax it? if so I will doudble check to make sure it's hooked up and pm you the fax#.. Or could you post in this thread a summary of your report and your take on the petro dollar? Link to comment Share on other sites More sharing options...
GG Posted August 27, 2006 Share Posted August 27, 2006 Thanks for remembering Chicot. If anyone is interested I wrote a paper on the topic and would be happy to send you a copy. 752151[/snapback] I'll take a read - draft@gobills.net Link to comment Share on other sites More sharing options...
Pine Barrens Mafia Posted August 28, 2006 Share Posted August 28, 2006 Thanks for remembering Chicot. If anyone is interested I wrote a paper on the topic and would be happy to send you a copy. 752151[/snapback] Count me in...this is fascinating stuff. Link to comment Share on other sites More sharing options...
TPS Posted August 28, 2006 Share Posted August 28, 2006 Count me in...this is fascinating stuff. 753855[/snapback] Anyone who wants a copy, please give me an email address to send it to. Link to comment Share on other sites More sharing options...
Pine Barrens Mafia Posted August 28, 2006 Share Posted August 28, 2006 I know, YouTube isn't exactly a resource, but I found this link: Water power without the expensive fuel cell process? outstanding Link to comment Share on other sites More sharing options...
Gavin in Va Beach Posted August 28, 2006 Share Posted August 28, 2006 Ready to see the dollar collapse? Or maybe China will just buy the United States? Time to start hoarding gold and learning Mandarin... http://www.msnbc.msn.com/id/14535192/site/newsweek/ Link to comment Share on other sites More sharing options...
TPS Posted August 28, 2006 Share Posted August 28, 2006 Ready to see the dollar collapse? Or maybe China will just buy the United States? Time to start hoarding gold and learning Mandarin... http://www.msnbc.msn.com/id/14535192/site/newsweek/ 754324[/snapback] Thanks. That's a good article. Link to comment Share on other sites More sharing options...
Pine Barrens Mafia Posted August 28, 2006 Share Posted August 28, 2006 Thanks. That's a good article. 754354[/snapback] Anyone else find this a tad bit oxymoronic? "The People's Bank" Why don't they just drop the sham of communism and call themselves what they are.... a corporatist state. Link to comment Share on other sites More sharing options...
GG Posted August 28, 2006 Share Posted August 28, 2006 Yup, the yellow sky is falling. Link to comment Share on other sites More sharing options...
Pine Barrens Mafia Posted August 28, 2006 Share Posted August 28, 2006 Yup, the yellow sky is falling. 754418[/snapback] What's your take on cromag's petrodollar fearmongering? Link to comment Share on other sites More sharing options...
GG Posted August 28, 2006 Share Posted August 28, 2006 What's your take on cromag's petrodollar fearmongering? 754419[/snapback] Same as it has been for a long time, it's petrodollar fearmongering. The time to fear the Euro as a competitive currency will be when France decides to subrogate its fiscal and monetary policies for the good of the European Union. (I should be fair, not just France, but Germany & Italy, as well) Link to comment Share on other sites More sharing options...
cromagnum Posted August 28, 2006 Author Share Posted August 28, 2006 What's your take on cromag's petrodollar fearmongering? 754419[/snapback] Did I say there is no doubt that the petrodallar is being reconstituted. Or I know where the Petro Dollars are, their east-west-north-and south around baghdad. I never said that this is what this wars about and is about. I merely asked due to reading about a U.S. politicians speech about this issue. And checking the web for more info..And I needed to ask people who have experience and understanding in this matter...Fearmonering, C'mon! it's just an open discussion. Code red on the terror thingy? After I became a member of bills daily, because of the football board and ppp due to enjoyable and very knowledgeable posters, I decided to post and create new topics.. On Feb/1/06/ I started a thread on ppp discussing bin laden. You replied at 11:34 2/1/06 with this: Ladies and Gentleman, I'd like to point out Exhibit ''B'' on the failure of American education. I doubt this poster could even LOCATE Afghanistan on a map unassisted, and yet, somehow he's qualified to comment on foreign affairs. Were Doomed. And I admitted I quit school, and knew where afghanistan is, I said afghanistan is the northern neighbor of the sub-continent India....I then asked you where do you believe Bin Laden is?.....You said your quess would be SUADI ARABIA. You spelled it wrong for one...And yellowlinesandarmadillo called you on it..You kept up with your rant, and never discussed the topic....How's the fear mongering Fyou:smiley search going? Link to comment Share on other sites More sharing options...
TPS Posted August 29, 2006 Share Posted August 29, 2006 Did I say there is no doubt that the petrodallar is being reconstituted. Or I know where the Petro Dollars are, their east-west-north-and south around baghdad. I never said that this is what this wars about and is about. I merely asked due to reading about a U.S. politicians speech about this issue. And checking the web for more info..And I needed to ask people who have experience and understanding in this matter...Fearmonering, C'mon! it's just an open discussion. Code red on the terror thingy? 754473[/snapback] You're right, my favorite politician, that libertarian from Texas, Ron Paul said it. I love that guy.... The dollar's influence today, and its precarious status as reserve currency, has more to do with Asia's export-driven growth strategy (see the article Gavin linked to) than the petrodollar issue, though it will certainly speed the demise of the dollar as international reserve currency as Russia, Iran, et al, price oil in euros. I also believe the US (administration) is more interested in controlling access to oil than maintaining its price in $s. As for the euro, there is an increasing demand to hold non-dollars as reserves by central banks, and the euro is the only other (real) option until China opens up its financial markets. Link to comment Share on other sites More sharing options...
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