The Saudis are not our friends.
America is being targeted by economic terrorism by many nations. If you can't see that, you are not paying attention.
The Saudis are not our friends.
America is being targeted by economic terrorism by many nations. If you can't see that, you are not paying attention.
America to the Saudi’s and Chinese:
“If you believe that Socialist and Communist economies can sustain free enterprise, have at it.”
OBTW: We’re elimnating the red tape for converting to nuclear power, resuming the mining of Utah coal, and drilling ANWR.
Business is business. Why should the Saudis suffer the financial losses associated with pegging oil to the crumbling dollar?
It is stupid and childish to blame others for a self-inflicted wound.
"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."
~~Ludwig von Mises
"Let me issue and control a nation's money supply, and I care not who makes its laws."
~~Mayer Amschel Rothschild
"I am one of those who do not believe the national debt is a national blessing... it is calculated to raise around the administration a moneyed aristocracy dangerous to the liberties of the country."
~~Andrew Jackson, letter, April 26, 1824
I have ever been the enemy of banks, not of those discounting for cash, but of those foisting their own paper into circulation, and thus banishing our cash. My zeal against those institutions was so warm and open at the establishment of the Bank of the United States, that I was derided as a maniac by the tribe of bank-mongers, who were seeking to filch from the public their swindling and barren gains.
~~Thomas Jefferson to John Adams, 1814
The circumstances of how it came to be heard, and then the context in which it was given (getting others to back off their threats against the dollar) — does not lend credence to the “question” as to whether it was a threat from the Saudis. You see, they’ve got a lot of their stuff wrapped up in the dollar. They’re not stupid.
The are all to be held accountable.
“The dollar could collapse if Opec officially admits considering changing the pricing of oil into alternative currencies such as the euro”
Yea, right, and with the Euro already high enough that German manufacturing exporters, which earn 33% of the German GDP, are already screaming because of the exports they are now losing to US and Asian manufacturers, so imagine what German unemployment, now around 11%, will be when the Saudis boost the Euro even higher.
Changing currency values are not zero sum events; the proper currency value is not automatically “higher”. Too low and your investors cannot expand internationally as well; too high and your domestic manufacturers cannot export as well.
Unlike the US, France and Germany are much more export dependent, as a % of GDP. Every 1% drop in the dollar to the Euro raises uses US exports and lowers Euro-denominated exports. I say, go ahead Saudis, hurt European exports, leave manufacturing to the US and Asia. You’ve been trying to make Europe your vassals anyway.
Currency traders like myself knows what this means: buy the dollar.
I agree. They don't know who they're messing with though.
Please note:
From: “When dollar falls, European exporters count their bruises” at: http://www.freerepublic.com/focus/f-news/1927222/posts
“The euro’s rise and dollar’s slide are squeezing European exporters’ profits or multiplying their losses, prompting layoffs and plant closings. Companies are not only curbing production of goods headed to U.S. buyers but also rethinking the way they do business.”
“The strong British pound, moribund Japanese yen and undervalued Chinese yuan also play roles in this tale of currency chaos, from a European exporter’s perspective. Nearly every day, another company announces more lost earnings and job cuts and blames the currency commotion.”
The fact is that international politics, not economics, not the underlying performance of economies (US vs EU) has bid up the Euro. Let the Saudis bid it up higher - then watch it crash when EU-denominated manufacturing is dead.
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Cacique's Recomended Reading List for week of November 12, 2007
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Here’s a crazy notion: Balance the federal budget. Pay down the national debt.
sounds like that old movie called “rollover”
Of course keep in mind “they” thought 9/11 (and pearl harbor) would cause the USA to instantly surrender.
Energy independence now. We have the Saudis, Venezuela, Iran, and China threatening to collapse our economy. It’s time to remove from them the ability to do this my making our own energy and spending within our means.
“The dollar could collapse if Opec officially admits considering changing the pricing of oil into alternative currencies such as the euro, the Saudi Arabian foreign minister has warned.”
This switch occurred years ago. The Euro pricing of OPEC crude is a fact, and has been for quite a while. Hmm, I posted here somewhere, can’t find it right now. I’ll keep looking.
Meanwhile, a quick look back, four years’ worth:
EU upset because US upset plans
to replace dollar with euro in oil trade (anti-dollar alert)
EV World | march 6, 2003 | W. Clark
Posted on 03/18/2003 2:20:57 AM EST by longtermmemmory
http://www.freerepublic.com/focus/f-news/867427/posts
German Sources Say Russia Might Price Its Oil in Euros
themoscowtimes.com | Thursday, Oct. 9, 2003 | staff
Posted on 10/08/2003 8:00:39 PM EDT by zacyak
http://www.freerepublic.com/focus/f-news/997747/posts
Putin: Why Not Price Oil in Euros?
moscow times | Oct. 10, 2003 | Catherine Belton
Posted on 10/11/2003 1:01:54 AM EDT by zacyak
http://www.freerepublic.com/focus/f-news/999266/posts
US Dollar plunge could lead to full-blown financial crisis
The Straits Times | 01.17.04 | William Choong
Posted on 01/18/2004 3:45:18 PM EST by Beck_isright
http://www.freerepublic.com/focus/f-news/1060474/posts
OPEC considers ditching the dollar
Business Report | 9/10/04 (Asia)
Posted on 02/09/2004 5:28:19 PM EST by Rams82
http://www.freerepublic.com/focus/f-news/1074714/posts
OPEC signals it wants high oil prices
Sify | Sunday, 27 February , 2005,
Posted on 02/27/2005 5:55:34 AM EST by M. Espinola
http://www.freerepublic.com/focus/f-news/1352006/posts
Iranian Alert - August 26, 2005 -
Heads Up!! The worst is about to happen
Regime Change Iran | 8.26.2005 | DoctorZin
Posted on 08/27/2005 3:43:32 PM EDT by DoctorZIn
http://www.freerepublic.com/focus/f-news/1471959/posts
Iran to replace dollar with euro in foreign deals
Breitbart.com | December 18, 2006
Posted on 12/18/2006 3:44:29 PM EST by TheTruthAintPretty
http://www.freerepublic.com/focus/f-news/1755344/posts
Venezuela may follow Iran on euro oil sales
rte | 12/24/06 | rte
Posted on 12/24/2006 7:38:20 AM EST by Flavius
http://www.freerepublic.com/focus/f-news/1758013/posts
Falling Dollar Puts Pressure on OPEC
Financial Times | July 23 2007 | Javier Blas
Posted on 07/23/2007 7:51:51 PM EDT by kellynla
http://www.freerepublic.com/focus/f-news/1870497/posts
Slippery Slope [$60 oil?]
Forbes | 11/3/2007 | Daniel Fisher
Posted on 11/03/2007 6:54:36 PM EDT by bruinbirdman
http://www.freerepublic.com/focus/f-news/1920613/posts
Oil Drops on Surprise Inventory Jump
(”There’s plenty of crude”)
YeeHow!/ApeHee | Thursday November 15, 2:04 pm ET
By John Wilen, AP Business Writer
Posted on 11/15/2007 3:12:06 PM EST by rightinthemiddle
http://www.freerepublic.com/focus/f-news/1926310/posts
his name is Soros....and probably that great middle American Buffet..
from Pitchfork Pat, three years apart:
Goodbye, Dollar - and Empire
The American Conservative | November 2004 | Pat Buchanan
Posted on 11/13/2004 2:40:59 PM EST by RedOhio
http://www.freerepublic.com/focus/f-news/1279227/posts
Sinking Currency, Sinking Country
World Net Daily | 11/02/07 | Pat Buchanan
Posted on 11/02/2007 8:23:12 AM EDT by Thorin
http://www.freerepublic.com/focus/f-news/1919962/posts
from almost a year ago:
Saudi king cancels planned 25% fuel price rise
(even oil countries are paying high gas prices)
bahrain | December 24, 2006 | reutuers
Posted on 12/24/2006 10:45:45 AM EST by Flavius
http://www.freerepublic.com/focus/f-news/1758066/posts
[snip] Saudi Arabia cancelled yesterday a planned 25 per cent rise in regular petrol prices on King Abdullah’s orders, a move seen as aimed at alleviating the impact of rising inflation and following a stock market crash... In April, the king also issued a decree slashing petrol and diesel prices by around 30 per cent in the world’s largest oil exporter. The move came during the stock market crash which wiped out more than half the value of the biggest Arab bourse and hit large numbers of small investors. SPA said the price of 95-octane petrol would remain at 0.60 riyal ($0.16) per litre, and would not be raised to 0.75 riyal as earlier announced by state oil company Aramco which planned to introduce the increase on Jan. 1. The new 91-octane petrol would be sold at 0.45 riyal per litre, instead of the earlier announced 0.60 riyal, SPA said. The Shura Council voted earlier this month against the price rise, a member of the consultative body said. [end]
Ever begin to wonder if one of the signs of the End Times will be constant iteration of the same doom and gloom predictions for years on end? Heh...
Dumping of US dollar could trigger ‘economic September 11’
The Australian | August 29, 2005
Posted on 08/31/2005 3:38:24 AM EDT by Travis McGee
http://www.freerepublic.com/focus/f-news/1473921/posts
UAE Turns Back on Dollar in Foreign Reserves Shake-up
Telegraph.uk | 3/14/2006 | Ambrose Evans-Pritchard
Posted on 03/18/2006 7:01:21 AM EST by ex-Texan
http://www.freerepublic.com/focus/f-news/1598648/posts
[snip] The United Arab Emirates is planning to switch 10pc of its foreign reserves from dollars to euros in the first sign of fall-out from Washington’s snub to Dubai Ports World last week... [end]
Dangers in a Dollar on the Edge
Washington Post | 12/08/06 | Robert J. Samuelson
Posted on 12/08/2006 7:08:32 AM EST by TigerLikesRooster
http://www.freerepublic.com/focus/f-news/1750333/posts
Dollar’s double blow from Vietnam and Qatar
Telegraph (UK) | 12:12am BST 04/10/2007 | By Ambrose Evans-Pritchard
Posted on 10/03/2007 10:09:00 PM EDT by DeaconBenjamin
http://www.freerepublic.com/focus/f-news/1906271/posts
The Death Of The Dollar ...
(Global anti-Americanism is a sign of sophistication)
The Global Guru | Nov 14, 2007 | Nicholas Vardy
Posted on 11/14/2007 11:50:39 AM EST by IrishMike
http://www.freerepublic.com/focus/f-news/1925654/posts
guffaw.
Shadow Government of The United States and the Decline of America
Source: InfoKill Datafeed
Published: November 12, 1998 Author: Unknown
Posted on 10/01/1999 22:07:00 PDT by Uncle Bill
http://www.freerepublic.com/forum/a37f592f42625.htm
