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psilomonkey
Twisted brainwrong of a oneoff man mental

Registered: 08/08/03
Posts: 812
Loc: Airstrip One
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Iran's upcoming Euro Oil Bourse
#5348385 - 02/28/06 06:14 AM (17 years, 10 months ago) |
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I think this could make for some very 'interesting' times ahead.
Quote:
The Iranians are about to commit an "offense" far greater than Saddam Hussein's conversion to the euro of Iraq?s oil exports in the fall of 2000. Numerous articles have revealed Pentagon planning for operations against Iran as early as 2005. While the publicly stated reasons will be over Iran's nuclear ambitions, there are unspoken macroeconomic drivers explaining the Real Reasons regarding the 2nd stage of petrodollar warfare - Iran's upcoming euro-based oil Bourse.
http://www.energybulletin.net/2913.html
Quote:
The Laboratoire europ?en d?Anticipation Politique Europe 2020 (LEAP/E2020) now estimates to over 80% the probability that the week of March 20-26, 2006 will be the beginning of the most significant political crisis the world has known since the Fall of the Iron Curtain in 1989, together with an economic and financial crisis of a scope comparable with that of 1929. This last week of March 2006 will be the turning-point of a number of critical developments, resulting in an acceleration of all the factors leading to a major crisis, disregard any American or Israeli military intervention against Iran. In case such an intervention is conducted, the probability of a major crisis to start rises up to 100%, according to LEAP/E2020.
http://www.europe2020.org/en/section_global/150206.htm
Well I guess we don't have long to wait and see, like I said, interesting times.
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Kamek


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Re: Iran's upcoming Euro Oil Bourse [Re: psilomonkey]
#5348430 - 02/28/06 07:11 AM (17 years, 10 months ago) |
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I feel shit really has to go down sometime soon so afterwards things can start getting better
Personally i can't wait for something significant to happen which will wake the world up
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Prajna
ReliablyUnreliable


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Re: Iran's upcoming Euro Oil Bourse [Re: psilomonkey]
#5350591 - 02/28/06 06:39 PM (17 years, 10 months ago) |
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People still have no idea that that's what all of this shit is REALLY about man. Thanks for bringing this up.
Fact is, America is very close to a complete failure of the dollar. Those who know the truth about all of this will understand what I am talking about...
Connect the dots people, research the economics behind 9/11 and see for yourselves how this "war on terror" is really a war to save the American Empire from crashing down.
American money, once severed from the gold standard was doomed to failure. American wealth depends on a marketing scheme that is based on oil being traded for American dollars. Without it, the whole house of cards comes tumbling down.
If you cannot destroy the leadership of Iran, and they are allowed to trade oil for a discounted Euro, then your economy is toast...
Sorry about your luck...
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d33p
Welcome to Violence

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Re: Iran's upcoming Euro Oil Bourse [Re: Prajna]
#5350690 - 02/28/06 07:11 PM (17 years, 10 months ago) |
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You do realize that if we went down, we would be bringing you and quite a few other nations down with us....
-------------------- I'm a nihilist. Lets be friends. bang bang
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Catalysis
EtherealEngineer

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Re: Iran's upcoming Euro Oil Bourse [Re: Prajna]
#5350740 - 02/28/06 07:31 PM (17 years, 10 months ago) |
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That is quite a simplified view of economics. There is no true difference in value between gold, paper, or information bytes. The only thing they have in common is that their value is determined by demand.
The truth is that the American dollar is roughly equivalent to the value of most other developed nations' currencies. That is, the dollar has about the same buying power in Europe as the Euro does. This means that income is similar in both countries when taking into account living costs. Part of this is because democracies inherently invest in other countries, spreading money and risk.
In the current international marketplace, a country's economy is really built on the value of the country itself. There is no point in spending trillions hoarding gold to represent your value when you already have value.
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Skeptikos
GeneticallyEngineeredBonobo

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Re: Iran's upcoming Euro Oil Bourse [Re: Catalysis]
#5350862 - 02/28/06 08:07 PM (17 years, 10 months ago) |
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Quote:
Catalysis said: There is no true difference in value between gold, paper, or information bytes. The only thing they have in common is that their value is determined by demand.
Not true, the gold supply is relatively inelastic, paper or electronic dollars can be created at will. Therein lies the danger of a fiat currency.
Quote:
In the current international marketplace, a country's economy is really built on the value of the country itself.
It seems that America's largest export is debt. Americans have their lowest savings rates since 1933. The U.S. government has a record debt. China and India are rising fast and actually PRODUCING goods as fast as America produces debt.
Quote:
There is no point in spending trillions hoarding gold to represent your value when you already have value.
My gold investments have been rising in value vs. the dollar. My investments in oil companies have been rising vs the dollar. What have your dollars been rising against?
It is short-sighted to believe that the current situation can continue indefinitely. There is no major power in history, that has avoided decline. There is no historical precedent for a country that continually goes deeper into debt as it's industrial base shrinks that has emerged economically unscathed.
The U.S. is dependent upon other countries to buy it's debt, the U.S. is dependent upon other countries using it's currency as the modern reserve currency. The U.S. is dependent on the Petro-dollar arrangements to maintain it's economic power. If the U.S. economy should go into a major recession and the country's ability to buy up exports from other countries should dry up, there will be no reason for other countries to continue to support the U.S. debt machine. The U.S. has made enemies the world over and they know all this.
-------------------- Sincerely, Skeptikos
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Annapurna1
liberal pussy

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Re: Iran's upcoming Euro Oil Bourse [Re: Prajna]
#5350892 - 02/28/06 08:15 PM (17 years, 10 months ago) |
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Quote:
Prajna said: People still have no idea that that's what all of this shit is REALLY about man. Thanks for bringing this up.
Fact is, America is very close to a complete failure of the dollar. Those who know the truth about all of this will understand what I am talking about...
Connect the dots people, research the economics behind 9/11 and see for yourselves how this "war on terror" is really a war to save the American Empire from crashing down.
American money, once severed from the gold standard was doomed to failure. American wealth depends on a marketing scheme that is based on oil being traded for American dollars. Without it, the whole house of cards comes tumbling down.
If you cannot destroy the leadership of Iran, and they are allowed to trade oil for a discounted Euro, then your economy is toast...
Sorry about your luck...
"petroeuro theory" has also been offered as the real reason for invading iraq...it does sound quite plausible..and i have by no means ruled it out...but there is still one piece missing ..if this were the case..then there would have been no reason for the neocons to fabricate a "war on terror" (which might also include varying degrees of complicity in 9/11)..when they could have just as easily sold their war agenda by simply telling the truth..since the alternative is all-out famine...
--------------------
"anchor blocks counteract the process of pontiprobation..while omalean globes regulize the pressure"...
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wilshire
free radical


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Re: Iran's upcoming Euro Oil Bourse [Re: psilomonkey]
#5351123 - 02/28/06 09:05 PM (17 years, 10 months ago) |
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i don't know if iran plans to stop accepting the u.s. dollar and take euros for oil instead. i don't thint it matters that much. currencies can be exchanged pretty easily.
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Skeptikos
GeneticallyEngineeredBonobo

Registered: 01/15/06
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Re: Iran's upcoming Euro Oil Bourse [Re: wilshire]
#5351145 - 02/28/06 09:13 PM (17 years, 10 months ago) |
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If the demand for dollars decreases, it matters very much. If the dollar declines in importance as a medium of exchange, there is less need to hold dollars. The less dollars held, the greater the supply. The greater the supply of a particular item, the less relative value attached to it. People like to unload items that are losing value, it is not wise to hold onto them.
-------------------- Sincerely, Skeptikos
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Kamek


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Re: Iran's upcoming Euro Oil Bourse [Re: Skeptikos]
#5352053 - 03/01/06 02:11 AM (17 years, 10 months ago) |
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My economics teacher said it's not a question of if the dollar will fall, but a question of when it will fall.
He said it could happen tomorrow, but predicted it would probably happen within the next 5 years or so...
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J4S0N
human


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Re: Iran's upcoming Euro Oil Bourse [Re: psilomonkey]
#5352374 - 03/01/06 05:23 AM (17 years, 10 months ago) |
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OPEC bailed out the US economy by agreeing to only trade with American dollars. This happened after the dollar stopped being backed by a gold standard. Now Iran wants out of OPEC and wants to create its own Bourse. Lots of people are worried about war because of this. This happens at the end of this month. The dollar will drop. Both Russia and China have HUGE reserves of American dollars. Both countries also have a deal with Iran to supply their energy.
-------------------- "The Central Intelligence Agency owns everyone of any significance in the major media." ~ William Colby, Former Director, CIA
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wilshire
free radical


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Re: Iran's upcoming Euro Oil Bourse [Re: Skeptikos]
#5352600 - 03/01/06 08:10 AM (17 years, 10 months ago) |
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If the demand for dollars decreases, it matters very much.
why would this decrease the demand for the dollar?
the dollar is backed internationally by US exports, not iranian crude.
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Skeptikos
GeneticallyEngineeredBonobo

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Re: Iran's upcoming Euro Oil Bourse [Re: wilshire]
#5352679 - 03/01/06 08:40 AM (17 years, 10 months ago) |
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If I stop using dollars and only use Euros, the demand for dollars will drop (though imperceptibly on an international scale). Likewise, when major players in the world economy stop using dollars for major purchases or stop accepting them for purchases, the demand for dollars will drop. If a currency is not inherently valuable and gets it's value as a medium of exchange, when people decrease their use of it and hence their demand for it, the currency will drop in value.
The dollar is held up by it's exclusive use as the currency of crude petroleum purchases, and also by U.S. DEBT exports and purchases of foreign goods. U.S. imports of goods vs. exports of goods are at record levels and the purchases of U.S. debt by those who export to the U.S. in order to keep their goods being bought by Americans are at record levels. This is the major source of the U.S. trade deficit. This deficit which leftists and right-wing protectionists lament, is a symptom of a deeper problem, it is not the underlying problem. Hence, protectionism is the wrong remedy.
-------------------- Sincerely, Skeptikos
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Kamek


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Re: Iran's upcoming Euro Oil Bourse [Re: wilshire]
#5352709 - 03/01/06 08:49 AM (17 years, 10 months ago) |
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never mind
I was going to say something similar but you beat me to it...
Edited by Paderas (03/01/06 08:51 AM)
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wilshire
free radical


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Re: Iran's upcoming Euro Oil Bourse [Re: Skeptikos]
#5352744 - 03/01/06 08:58 AM (17 years, 10 months ago) |
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The dollar is held up by it's exclusive use as the currency of crude petroleum purchases
no it isn't. like i said, the dollar is held up by US exports.
the american dollar is not backed by foreign crude. the only reason you can use a dollar to buy foreign crude is because that foreign crude producer knows he can spend dollars to buy american exports (or sell his dollar to someone else who knows the same thing).
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psilomonkey
Twisted brainwrong of a oneoff man mental

Registered: 08/08/03
Posts: 812
Loc: Airstrip One
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Re: Iran's upcoming Euro Oil Bourse [Re: wilshire]
#5352857 - 03/01/06 09:33 AM (17 years, 10 months ago) |
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The value of the dollar is based on how much people want dollars and how many dollars there are available, the old supply and demand.
You need dollars to buy American goods, American investment interests, and of course oil. If oil ceases to be exclusively traded in dollars the world needs less dollars and you have an over-supply situation. The laws of demand and supply will kick in.
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lonestar2004
Live to party,work to affordit.


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Re: Iran's upcoming Euro Oil Bourse [Re: wilshire]
#5352865 - 03/01/06 09:35 AM (17 years, 10 months ago) |
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This is all Hype.....i don't even think the dollar will fall after the Iranian Bourse.
In one day of London trading the market trades more than the entire oil market of Iran does all year.
-------------------- America's debt problem is a "sign of leadership failure" We have "reckless fiscal policies" America has a debt problem and a failure of leadership. Americans deserve better Barack Obama
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Kamek


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Re: Iran's upcoming Euro Oil Bourse [Re: lonestar2004]
#5352873 - 03/01/06 09:38 AM (17 years, 10 months ago) |
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Other countries might follow Iran when it changes to Euro...
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lonestar2004
Live to party,work to affordit.


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Re: Iran's upcoming Euro Oil Bourse [Re: psilomonkey]
#5352876 - 03/01/06 09:38 AM (17 years, 10 months ago) |
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are you predicting OPEC changing over to the Euro? or just Iran.
if all the oil nations drooped the dollar we would be in for a shock.
-------------------- America's debt problem is a "sign of leadership failure" We have "reckless fiscal policies" America has a debt problem and a failure of leadership. Americans deserve better Barack Obama
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Kamek


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Re: Iran's upcoming Euro Oil Bourse [Re: lonestar2004]
#5352890 - 03/01/06 09:42 AM (17 years, 10 months ago) |
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Maybe some other countries that aren't too friendly with the US will follow Iran in changing to Euro...
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lonestar2004
Live to party,work to affordit.


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Re: Iran's upcoming Euro Oil Bourse [Re: Kamek]
#5352896 - 03/01/06 09:44 AM (17 years, 10 months ago) |
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you know this shit happens in Latin America and Asian countries all the time. (currency bankruptcy)
if it did happen here it would suck for us and all the other countries that we owe money, and give money too. but i bet we would be back in the game soon.
-------------------- America's debt problem is a "sign of leadership failure" We have "reckless fiscal policies" America has a debt problem and a failure of leadership. Americans deserve better Barack Obama
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Kamek


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Re: Iran's upcoming Euro Oil Bourse [Re: lonestar2004]
#5352930 - 03/01/06 09:54 AM (17 years, 10 months ago) |
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If the US goes down i don't think they'd be getting back up any time soon... Look at Russia...
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lonestar2004
Live to party,work to affordit.


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Re: Iran's upcoming Euro Oil Bourse [Re: Kamek]
#5353137 - 03/01/06 10:54 AM (17 years, 10 months ago) |
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I have a mini forex account, and love to read about currencies.
my prediction is China, Japan, Korea, Singapore etc. will all let the Dollar Devalue against their currencies. (they will Eat lots of greenbacks) that will cut our debt in half by 2008. Coincidently right before the presidential elections.
-------------------- America's debt problem is a "sign of leadership failure" We have "reckless fiscal policies" America has a debt problem and a failure of leadership. Americans deserve better Barack Obama
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Prajna
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Re: Iran's upcoming Euro Oil Bourse [Re: lonestar2004]
#5354264 - 03/01/06 05:18 PM (17 years, 10 months ago) |
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Everything that skeptikos has said so far in this post is 100% accurate. Thanks for explaining this issue better than I probably could have...
Brilliant move with the gold BTW...I just bought 12 ounces last week and I expect that before this year is over we will see at least 900 dollars an ounce on our investment. 
This is why we see the assualt on Hugo Chavez right now too, he has also threatened to convert to euro's and is currently setting up a south american institution for this purpose as we speak. Saddam was the first to try it in 2000, he used it as a weopon, an economic bomb essentially...
It was underestimated at the time but the States quickly realized that trading oil in Euro's might catch on and cause a reserve dollar dump off which to some extent it already has. The prospect of a petroEuro seems to be something that the world is willing to lose money for. Their giant reserves of forced U.S dollars are basically worthless anyway, the U.S is good at writing treasury notes but refuses to pay them back due to being broke.
It's my opinion that the U.S can and will try to stop this by all military means, but I am betting against the American dollar with gold futures because it is plainly obvious that they will probably fail.
I would advise anyone reading this to take it VERY seriously and do the reasearch, and protect yourselves accordingly... Especially if you are an American.
A couple hours of google searching should be sufficient enough to convince you of it's truth.
Familiarise yourself with the fiat currency to start with, and then look up the bourse. It will give you a foundation to understand some of the jargon...
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wilshire
free radical


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Re: Iran's upcoming Euro Oil Bourse [Re: psilomonkey]
#5354278 - 03/01/06 05:26 PM (17 years, 10 months ago) |
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The value of the dollar is based on how much people want dollars and how many dollars there are available
true.... but the rest of what you said isn't quite so.
currency tends to confuse people, all the more so when we're dealing with international trade.
so there's america, europe, and iran. the iranians trade oil for american and european goods. the americans trade american goods for european goods and iranian oil. the europeans trade european goods for american goods and iranian oil. this is what matters. as long as everyone is still producing, selling, and buying goods, it doesn't matter what the medium of exchange is.
the value of the dollar is not backed by the fact that you can buy oil with it. it's backed by the fact that you can buy american goods with it. it doesn't matter if the iranians stop taking dollars unless they also stop buying american goods. if they stop taking dollars, but they still want american goods, they're going to have to buy them with euros from europeans, who will buy them with dollars from americans.
the iranians don't buy a lot of american goods as it is. they use their dollars to purchase from their other trade partners, and those dollars eventually get spent buying american goods. if they don't take dollars for oil, and use euros instead, it will only mean that everyone who would have otherwise had dollars to spend will not... there goes the oversupply problem. if they want american goods, they'll have to get some dollars to pay for them... perhaps by selling us the iranian crude they bought (it really doesn't matter).
do you see this? the demand for the dollar is ultimately backed by the demand for american goods.
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Skeptikos
GeneticallyEngineeredBonobo

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Re: Iran's upcoming Euro Oil Bourse [Re: wilshire]
#5356686 - 03/02/06 08:45 AM (17 years, 10 months ago) |
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Quote:
wilshire said: The dollar is held up by it's exclusive use as the currency of crude petroleum purchases
no it isn't.
Why do you deliberately misrepresent what I said by omission? I said, "The dollar is held up by it's exclusive use as the currency of crude petroleum purchases, and also by U.S. DEBT exports and purchases of foreign goods." "... the purchases of U.S. debt by those who export to the U.S. in order to keep their goods being bought by Americans are at record levels." Notice the use of the word 'and.' Prior to that, I also stated, "when major players in the world economy stop using dollars for major purchases or stop accepting them for purchases, the demand for dollars will drop. If a currency is not inherently valuable and gets it's value as a medium of exchange, when people decrease their use of it and hence their demand for it, the currency will drop in value."
Quote:
like i said, the dollar is held up by US exports.
Like I said, "America's largest export is debt." Apparently we are both correct. I also said, "U.S. imports of goods vs. exports of goods are at record levels." This is in reference to the largest trade deficit in the history of the world! In order to help keep our currency strong, foreigners buy up our monetized debt. Should they decide to drop that debt it if it is no longer advantageous to them, they will effectively increase the quantity of dollars in circulation. They can also just not refinance the U.S. government's debt after redeeming their notes when they become due. This will necessitate a raise in interest rates in order to attract buyers for the debt, or just good 'ol printing up of dollars. The new Fed chairman, Bernanke, has stated that he would even use helicopters to drop money all over the country if he felt it necessary (shades of Wiemar Germany - get you wheelbarrow now before the price goes up).
Quote:
the american dollar is not backed by foreign crude.
You are correct, and I never said it was. The U.S. dollar is backed by NOTHING, except people's desire to use it.
Quote:
the only reason you can use a dollar to buy foreign crude is because that foreign crude producer knows he can spend dollars to buy american exports (or sell his dollar to someone else who knows the same thing).
The petro dollar arrangement is a result of an agreement between the U.S. government to support the House of Saud in exchange for the Saudis accepting only U.S. dollars in exchange for oil. Again, America's largest export is DEBT. Foreigners accept dollars for the same reason most people use Windows, it's the way things have been since they can remember and everyone else is doing it. The roots of this go back to 1944, when 730 delegates from 44 nations met in Bretton Woods, New Hampshire. The countries agreed on fixed range of monetary exchange based upon gold. Here's the neat part, the U.S., being the largest holder of gold in the world, having the strongest economy with the largest industrial base and having a set relationship of dollar to gold ($35 an ounce) had set up the dollar to be the de facto reserve currency. Foreigners put their faith in the dollar, 'knowing' dollars could be redeemed for gold. This situation persisted until 1971 when Nixon slammed the gold 'window' shut by stopping the direct convertibility of the U.S. dollar to gold. By this time the dollar had become firmly entrenched as the reserve substitute for gold the world over. However, there is no logical reason to suppose that this situation will persists in perpetuity.
The dollar is held up by people's desire to hold and use it vs. the supply in circulation (the old 'supply and demand,' ECON 101). The things that I referred to have great influence on the supply of dollars in circulation and people's desire to use them. When enough people's desires change we will see changes in monetary relationships.
-------------------- Sincerely, Skeptikos
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Prajna
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Re: Iran's upcoming Euro Oil Bourse [Re: Skeptikos]
#5357397 - 03/02/06 12:58 PM (17 years, 10 months ago) |
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I can't understand why the average american can't grasp this, but it is true. Your major export to the world is your own debt...
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Luddite
I watch Fox News


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Re: Iran's upcoming Euro Oil Bourse [Re: Prajna]
#5435731 - 03/23/06 07:43 PM (17 years, 10 months ago) |
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Launch of Iranian oil trading hits wall Oil exchange unlikely to begin till at least midyear
JOHN PARTRIDGE INVESTMENT REPORTER Tuesday, March 14, 2006 Printer Friendly version
As the nuclear standoff pitting Iran against the West continues, some conspiracy theorists are more focused on another plan that the Middle Eastern nation is pursuing.
But they are jumping the gun if they still figure Iran is within days of launching a new international oil exchange that would sell its own and other Middle Eastern oil producers' black gold in euros rather than U.S. dollars -- and which, the theory goes, could ultimately torpedo the greenback and the U.S. economy.
Despite repeated reports over the past 18 months or so that the planned bourse would finally open for business on March 20, 2006 -- and go head to head with the New York Mercantile Exchange and the ICE Futures Exchange in London -- the start date has been postponed by at least several months and maybe more than a year.
"In the middle of 2006, we are able to start the bourse," Mohammad Asemipur, special adviser on the project to Iran's Oil Minister, said when reached in Tehran. The plan is to trade petrochemical products first, with a crude oil contract coming last, a rollout that likely will take three years, he said.
"Oh, crikey, it's at a much earlier stage than people would think," said British consultant Chris Cook, who claims credit for coming up with the idea for the exchange in the first place and is a member of the consortium headed by the Tehran Stock Exchange that is charged with bringing the project to life.
"You can rest assured, there will not be a crude oil contract, Gulf-based, in my opinion, within a year -- and that would be really pushing it," Mr. Cook, a former director of ICE's predecessor, the International Petroleum Exchange, said when reached in Scotland.
The electronic exchange is to be located on Kish Island in the Persian Gulf, an Iranian duty- and tax-free zone.
There has been far less talk about the planned bourse in the mainstream media than on the Internet, particularly on websites aimed at gold bugs and other economic conspiracy theorists.
The theory is that all trades through the new bourse would be made in euros, not the U.S. dollar, which for decades has been the world's primary reserve currency, as well as the one in which oil and most other commodities have been priced. As a result, European nations and other countries, especially Middle East oil producers, tired of having to buy billions of now weakening greenbacks to pay for their energy purchases, would no longer have to do so.
This, the conspiracy theorists contend, would knock the stuffing out of the U.S. currency and hasten the decline and fall of the American Empire, all the while allowing Iran to stick it to the Great Satan.
But, the theory continues, Washington will pre-empt all this by using Iran's nuclear ambitions as a pretext for attacking the country.
Kamal Daneshyar, chairman of Iran's Majlis [parliamentary] Energy Commission reportedly told the Iranian Students News Agency in December that the exchange would at first operate in both dollars and euros, but gradually move to the European currency exclusively. He was also quoted as saying that this would enable Iran to get even with the U.S. for the economic damages it has inflicted on the Islamic republic.
Dr. Asemipur, meanwhile, was noncommittal on the currency question, saying market participants, not the Iranian government, would make the decision. He also denied the planned bourse could harm the U.S. economy.
Mr. Cook dismissed the idea that Iran's goal is to use the bourse to sabotage the greenback. "I have a technical term for that," he said. "Bollocks!"
As for trading oil in euros, he said the Iranians likely would find it very difficult, at least in the next several years. "Basically, there aren't enough euros in circulation, and nor are there likely to be," he said.
Mr. Cook cited a recent article on Hong Kong-based Asia Times Online by William Engdahl, who specializes in the geopolitics of oil.
"For the euro to begin to challenge the reserve role of the U.S. dollar, a virtual revolution in policy would have to take place in Euroland," Mr. Engdahl wrote. "First the European Central Bank . . . would have to surrender power to elected legislators. It would then have to turn on the printing presses and print euros like there was no tomorrow."
A full challenge to the U.S. dollar as the world central bank reserve currency, Mr. Engdahl added later, would entail a "de facto declaration of war on the 'full-spectrum dominance' of the United States today," and that is something no country or group of countries is yet willing to launch.
http://www.workopolis.com/servlet/Content/fasttrack/20060314/RIRAN14?section=Energy
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TheCow
Stranger

Registered: 10/28/02
Posts: 4,790
Last seen: 15 years, 6 months
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Re: Iran's upcoming Euro Oil Bourse [Re: Skeptikos]
#5435867 - 03/23/06 08:30 PM (17 years, 10 months ago) |
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You keep explaining that if people dont want dollars, the US economy will fail. This is obvious, you have yet to show a link between Iran accepting Euro's and the fall of the US economy. You are sidestepping the main issue in favor of sensationalism.
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Rogues_Pierre
Stranger


Registered: 03/03/06
Posts: 99
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Re: Iran's upcoming Euro Oil Bourse [Re: TheCow]
#5437308 - 03/24/06 06:37 AM (17 years, 10 months ago) |
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Obviously, if no one accepts the US dollar, then all economies will fail except the US economy.
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Edited by Rogues_Pierre (03/24/06 09:59 AM)
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Rogues_Pierre
Stranger


Registered: 03/03/06
Posts: 99
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Re: Iran's upcoming Euro Oil Bourse [Re: Rogues_Pierre]
#5437770 - 03/24/06 10:07 AM (17 years, 10 months ago) |
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Skeptikos
GeneticallyEngineeredBonobo

Registered: 01/15/06
Posts: 145
Loc: Rome, west side
Last seen: 15 years, 2 months
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Re: Iran's upcoming Euro Oil Bourse [Re: TheCow]
#5445426 - 03/26/06 09:54 PM (17 years, 10 months ago) |
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Quote:
TheCow said: You keep explaining that if people dont want dollars, the US economy will fail. This is obvious, you have yet to show a link between Iran accepting Euro's and the fall of the US economy.
No single event will bring about the fall of the US economy, though a single watershed event may mark the beginning of the fall. There has been a long history of those in positions of political power and politically connected businesses in our country betraying our country for personal gain or political expediency. There is also an apparent tendency for people to ignore warnings while they enjoy the moment. People's time horizons tend to encompass mainly their own life experiences, history may be learned but it is seldom learned from.
Quote:
You are sidestepping the main issue in favor of sensationalism.
No, I am expanding on the topic to bring awareness to people who may not prefer to plant their heads in the sand. The US economy has been placed in a very precarious position, if you and others ignore history and economic facts, you do so at your own peril and that of your countrymen. It is foolish to think that we can continue upon our present course indefinitely without repercussions.
-------------------- Sincerely, Skeptikos
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Luddite
I watch Fox News


Registered: 03/23/06
Posts: 2,946
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Re: Iran's upcoming Euro Oil Bourse [Re: Skeptikos]
#5452662 - 03/28/06 07:21 PM (17 years, 10 months ago) |
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Just about every country in the world invests in the USA. I doubt that these investors would want to lose money on their investments. A lot of arabs invest in the USA, too.
Edited by Luddite (03/28/06 07:23 PM)
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Luddite
I watch Fox News


Registered: 03/23/06
Posts: 2,946
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Re: Iran's upcoming Euro Oil Bourse [Re: Luddite]
#5452688 - 03/28/06 07:29 PM (17 years, 10 months ago) |
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