Friday, 9 November 2007

Dump the dollar!

An interesting article by Paul Craig Roberts here forecasting the knock-on effects of global loss of confidence in the dollar as a reserve currency and the implications for the USA's future as a world power.

During the Reform Bill crisis of 1831-2, when the Duke of Wellington's minority government vainly tried to block the measure, his opponents used the slogan "To stop the Duke, go for gold!"

Today's slogan should be "To stop the warmongers, dump the dollar!"


Anonymous said...

It's just a coincidence of course that Iraq stopped using the "world's reserve currency" in 2000 when it started trading oil in Euros. It's another coincidence that Iran started doing the same this year.

Anonymous said...

The power is within ourselves

Despite the fact that the US balance of trade lies in a perilous state, the USA has decided in favour of tough sanctions against Iran. The reasons they took this action is due to their allegation that Iran intends to obtain nuclear weapons of mass destruction and has links with terrorism. Ring any bells?

Yes exactly the same reasons were given for the illegal invasion and subsequent destruction of Iraq with the loss of over 1.2 million lives. The allegations once again are untrue and not based on intelligence or reality.

What is consistent however are the real reasons for this action, control of oil reserves and an attempt to defend the US dollar in its declining position as the world’s reserve currency used for oil transactions.

The fictitious story that Ahmadinejad threatened to wipe Israel off the face of the map is repeated daily, the fictional half truth that Ahmadinejad said the holocaust was a myth rather than it was a myth that a Jewish State had to be superimposed over Palestinian because of an alleged holocaust in Europe is repeated ad infinitum by the American and British press. Any day now I expect to hear that Ahmadinejad uses human shredders, eats babies and builds palaces with the oil revenue.

I don’t expect these sanctions to work, I don’t think even the American Government expects them to work, I can’t see the Russians, Chinese, Indians or even Europe refusing to buy Iranian oil because of the tantrums of a mad American president.

But nevertheless they are a sinister development, a step the US Government needs to take in the first instance as a prelude to a military attack.

Bush is already talking about WW111, it seems to me that despite public opinion around the world, even in the United States itself, he is intent on going ahead with it.

Perhaps we, the citizens of the world, could demonstrate to Bush that sanctions can be effective under certain circumstances and for the right reasons. It’s not just governments that can impose sanctions, the ultimate power actually lies with us, the citizens of the world that are tired of the genocide in the Middle East, who are tired of the continuous threats being issued by Washington and not only against Iran. Who are tired of American attempts to dominate the world

The power is in our pockets, we don’t have to buy American goods, or goods produced by American owned subsidiaries. There’s always an alternative to American produced motor vehicles, soft drinks, cosmetics, trash food or even entertainment.

Let’s hit the Americans in the place it hurts the most, in the trouser pocket area, so they can appreciate in just a small way how sanctions can be painful. You never know it just might bring them to their senses.

Michael Lee
Oxford UK

anticant said...

Admirable sentiments, Michael - but what is the non-American alternative to the internet and associated paraphernalia?

The most alarming piece of disinformation I've seen is the 'Times' report that the Americans "fear" the Israelis may attack Iran before they [the Americans] are ready to. I should think that in fact they'd be highly delighted [shades of Suez]!

Richard W. Symonds said...

I think a boycott of American goods is a good idea (aka sanctions) - it might be the only way for the American people to wake up, wise up and grow up to what is really being done to them - and the rest of the world.

Jose said...

The alternative, Anticant, is here in Europe. We must strengthen Europe, we the people of Europe must be more concerned with Europe than with anywhere else, America or Asia.

If we are intent on it we can do that Europe be respected by its behaviour and its actions. Respecting ourselves will always make others respect us.

But the first premise is that: respect our origins, if we are united nobody can do us any damage.

Richard W. Symonds said...

So, are we heading for Orwell's '1984' prophecy of 3 superstates :