ARAB STATES LAUNCH SECRET MOVES WITH CHINA, RUSSIA, FRANCE TO STOP USING DOLLAR FOR OIL TRADING

Drudge Report ^ | 5 October 2009 | Drudge

[edpc]

ARAB STATES LAUNCH SECRET MOVES WITH CHINA, RUSSIA, FRANCE TO STOP USING DOLLAR FOR OIL TRADING... DEVELOPING...

[edpc]

Not so secret moves, anymore.

Just a headline for now....

[RC2]

Yep.....and these are our trusted friends. Ain’t this fun?

[taxcontrol]

Then by all means, lets become an oil exporting nation. Between technology for drilling, bio fuels, and coal to liquids, we can produce far more fossil fuel that we currently consume.

Get rid of some of the anti-diesel anti-coal rules. Then we start taxing the export of fuels to pay down the debt.

[edcoil]

When your President tells the world you nothing special, why would anyone invest in you.

[petitfour]

Meanwhile, we’re fighting a war against these people in Afghanistan even though the ones who started the war are from the ARAB STATES. BO should be all for this secret move. And so should the Clintons and their lackeys. They didn’t want us to be a Super Power.

[WoofDog123]

the writing is on the wall for the dollar. You can bet every country that does substantial trade in dollars has been looking at alternatives, since FedGov is monetizing debt and printing tbills like there is no tomorrow.

[RS_Rider]

That would require an administration who wanted this country to succeed.

[DJ Frisat]

"... we can produce far more fossil fuel that we currently consume.

Get rid of some of the anti-diesel anti-coal rules. Then we start taxing the export of fuels to pay down the debt."

Oh, yeah -- that's gonna happen...

Have you looked at the composition of our Federal Gov't lately?

[alecqss]

I know that many on Mid East are fuming at Zero's focus on getting Israeli concessions to never-ending "Palestinian" demands rather than on Iran's nukes.
I predict 2 or even 3 outcomes. PLO will launch another so-called intifada (instigated by Iran), Arabs (and possibly Israel) will try to diversify allies and the military conflict w/Iran will ensue.
Not so zero results after all...

[GiovannaNicoletta]

bookmark

[silverleaf]

Why should the US dollar be any more exceptional than any other currency? BO has spent the past 2 years telling the world what miserable losers we are and how we are not going to presume to lead anymore.

With the world needing fewer dollars, I guess the presses will be rolling overtime to prin our own money to buy our own debt.... armageddon?

[LasVegasMac]

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAA (that was my alarm clock sound)

You had a really strange dream, dude.......

"Then by all means, lets become an oil exporting nation.

:)

[The Great RJ]

They perceive the US as weak both financially and politically and think they could do this without fear of retribution by our impotent president.

[Spottys Spurs]

Cut all foreign aid, withdraw from the United Nations and withhold all financial support, close our borders, deport ALL illegals immediately..

That’s a good start..

Then, tell the Chinese to use those securities they own as toilet paper. It’ll be worthless anyway!

I have had it with all the P-C crap in dealing with these fools. No one overseas gives a damn about the USA.

Change the composition of Congress, get a new Administration in and start over. If it goes this far, what do we have to lose!

[DonaldC]

And they are right.

[taxcontrol]

Maybe a wakeup call for the voter???
Maybe a 2010 turn around in the House and a couple of Senate seats?
Maybe Palin in 2012 with a solid majority in the Senate and House and a return to CONSERVATISM?

One can dream can’t they?

[Spottys Spurs]

And, begin every serious effort to use our own energy resources. Screw the Arabs! Let them eat their oil.

No food exports! Period!!

[Starboard]

All this makes you wonder how much longer we can go on without a major market crash.

[RaceBannon]

FARS told everyone this was coming 2 years ago...

[Starboard]

our impotent president.

IMPOTUS.

[taildragger]

Their desire to destroy us without a shot is at hand and they are ready to sieze the moment.

WE are broke, one reason for the Tea PArties IMHO is that Washington won't tell us the truth on that alone, when in fact we coudl deal with the truth.

All we need is for China to say not on our debt, and it all comes tumbling down.

[silverleaf]

No food exports?
Dude.

Who do you think has been buying up the world’s farmland and locking up operating the ports used to ship it out?

Did you think that was a silly rumor that Hillary Clinton went to China after inauguration and talked about giving the Chinese “eminent domain” in the USA?

[taildragger]

What food.......... the EPA is cutting water to California and many farms will go belly up and it is becoming a dustbowl. Can you say the mother of all Perfect Storms?

How does Soros benefit from this all is my question.....

[silverleaf]

If Harry Dent is right this time, by mid 2010 the DOW may be headed to 3800 or less.

[enduserindy]

“Then by all means, lets become an oil exporting nation.”

I nominate you for 2012.That would solve a lot of our economic woes jut on the policy announcement.

[just me]

The Democrats morally bankrupted the US, and BO has financially bankrupted the dollar. It won’t belong before we become slaves to the state...

[silverleaf]

Soros will eat. Soros will decide who else gets to eat.

[Spottys Spurs]

Somewhere/somehow, Goldman Sachs will make a bundle out this chaos!

[Navy Patriot]

One of several steps necessary to complete the utter destruction of the United States of America.

The final step is the Federal default on Treasury bonds.

The American people will understand what it's like to live in Zimbabwe, conned into servitude.

[ex-snook]

Isn’t this the time to say ‘we need to cut taxes and import more’?

[ex-snook]

"The Democrats morally bankrupted the US, and BO has financially bankrupted the dollar. It won’t belong before we become slaves to the state... "

Sorry, this was a bipartisan FU.

[NeoCaveman]

If true, this is the black swan event.

[Starboard]

The market is levitating. The national debt is astronomical and growing exponentially, our currency is steadily losing value, there are no incentives to run a business in this country, personal taxes are going to rise, inflation is getting ready to take off, etc. Eventually there’s going to be a reality check.

[Navy Patriot]

No food exports! Period!!

They're ahead of you, they already own lots of farmland and will be able to buy all the rest with freightrain loads of inflated US dollars.

You will be offered a peon tenant farmer job, that or starve (or steal from your fellow Americans).

[just me]

Yep sorry... Republicans these days have no spine.....

[Navy Patriot]

Eventually there’s going to be a reality check.

It will be too late.

[Navy Patriot]

Sorry, this was a bipartisan FU.

Correct.

[dalebert]

lol sory that might make us competitive with other nations....can’t do that

[Milton Miteybad]

Get rid of some of the anti-diesel anti-coal rules. Then we start taxing the export of fuels to pay down the debt.


Just from the standpoint of logic, it seems self-defeating to place a tariff on your own exports, thereby rendering them less competitive in price than the same commodities sold by other nations without such an export tariff.

Also, I think there may be some constitutional issues with levying tariffs on U. S. exports. This issue appears to be covered by Article I, Section 9, U. S. Constitution, which reads (in relevant part):

No tax or duty shall be laid on articles exported from any state.



While I have no particular problem with producing sufficient energy for export, to the extent we may actually be able to do so, this export tariff idea needs a lot of work, frankly.

[marron]

Not surprising. You can’t dump two trillion dollars down the toilet without inflating the dollar.

The dollar has been a solid measure since Reagan. I remember when, if you wanted solid, you went with Swiss Francs or even German deutchmarks. A solid dollar isn’t an act of nature, it is an act of will. We just devalued the dollar without admitting it, but no one is fooled.

[Mariner]

INFLATION OF $$$$$ the US Dollar

[ajwharton]

The $ is toast, but this article was written by Robert Fisk, whose antipathy for the US knows no bounds. Taking with a grain of salt.

[wac3rd]

Larry Sinclair disagrees with you.

[Nuc1]

Then by all means, lets become an oil exporting nation. Between technology for drilling, bio fuels, and coal to liquids, we can produce far more fossil fuel that we currently consume. Get rid of some of the anti-diesel anti-coal rules. Then we start taxing the export of fuels to pay down the debt.

You are absolutely correct. And it would be so easy to do. You don't think this is what the administration had in mind all along, do you.

[Bobalu]

[Let's Roll]

DITTO - BUMP!

[HereInTheHeartland]

We need a massive push for nuclear power now.
10 years ago would have been better

[Nuc1]

They perceive the US as weak both financially and politically and think they could do this without fear of retribution by our impotent president.

I gotta say I agree with em on that.

[Perchant]

Why would this be a bad thing?

[RFEngineer]

“Yep.....and these are our trusted friends. Ain’t this fun?”

When our government spends us into oblivion, even our friends need to act in their own best interests, along with our enemies.