Beginning of major world crisis?

An excellent speech was deliever by Rep. Ron Paul earlier this month before the US House.
Not knowing much of the history of the money supply in this country, I read the whole speech and wondered how I missed all of this! Of course, pre-internet it was harder to get info...
Anyway, this is a GREAT read and a must of those who need a quick course in the dollar:
www.house.gov...

Since printing paper money is nothing short of counterfeiting, the issuer of the international currency must always be the country with the military might to guarantee control over the system. This magnificent scheme seems the perfect system for obtaining perpetual wealth for the country that issues the de facto world currency. The one problem, however, is that such a system destroys the character of the counterfeiting nation’s people-- just as was the case when gold was the currency and it was obtained by conquering other nations. And this destroys the incentive to save and produce, while encouraging debt and runaway welfare.
..........

Realizing the world was embarking on something new and mind boggling, elite money managers, with especially strong support from U.S. authorities, struck an agreement with OPEC to price oil in U.S. dollars exclusively for all worldwide transactions. This gave the dollar a special place among world currencies and in essence “backed” the dollar with oil. In return, the U.S. promised to protect the various oil-rich kingdoms in the Persian Gulf against threat of invasion or domestic coup. This arrangement helped ignite the radical Islamic movement among those who resented our influence in the region. The arrangement gave the dollar artificial strength, with tremendous financial benefits for the United States. It allowed us to export our monetary inflation by buying oil and other goods at a great discount as dollar influence flourished.

............

There was no public talk of removing Saddam Hussein because of his attack on the integrity of the dollar as a reserve currency by selling oil in Euros. Many believe this was the real reason for our obsession with Iraq. I doubt it was the only reason, but it may well have played a significant role in our motivation to wage war. Within a very short period after the military victory, all Iraqi oil sales were carried out in dollars. The Euro was abandoned.

I've been searching and studying the reasons and causes for what troubles the World for the past couple of years...

.....reading many books on the subject..

.....and the article (or speech) by Ron Paul on the URL address you posted is simply the best summary I've seen to date of the big picture of how America steered off course, why we are in such a bind today and why the World is so unstable as a result........

It is a very important read that should be shared with all Americans......

Originally posted by Toadmund
The whole US military machine gulps up $$$ in huge quantities, and if you can kill the money, then you can kill the machine. The bearings of US power and confidence are greased with the greens.

I remember William Blum in the introduction to his book "Rogue State" saying:

If I were the president, I could stop terrorist attacks against the United States in a few days. Permanently. I would first apologize to all the widows and orphans, the tortured and impoverished, and all the many millions of other victims of American imperialism. Then I would announce, in all sincerity, to every corner of the world, that America's global interventions have come to an end, and inform Israel that it is no longer the 51st state of the USA but henceforth—oddly enough—a foreign country. I would then reduce the military budget by at least 90% and use the savings to pay reparations to the victims. There would be more than enough money. One year's military budget of $330 billion is equal to more than $18,000 an hour for every hour since Jesus Christ was born. That's what I'd do on my first three days in the White House.

On the fourth day, I'd be assassinated.

That about sums up the U.S. spending on D-Fence.

[edit on 24-2-2006 by HardToGet]

WWIII? No way. But Iran's nukes are gonna be taken out for sure by the US of A and Israel (By end March, before the oil trade in Euros is scheduled to start?). There'll be a lot of hue and cry, smoke and dust (pun unintended!!) raised but thats it. It's NOT the start of WWIII. It will be a limited 'episode' and there will be no graduated response. Perhaps a few Iranian missiles kicking up sand over Israeli dunes.
We are all into deep conspiracy theories- Russia attacking US, NK attacking SK, US/Israel clobbering Syria, China taking on Russia. Blah blah blah...
You name the combination, you get it. Theories galore and of course, one can see the 'deep analyses' by so called 'experts' all over the net!
It's all bull# to the core!!
The present geopolitical situation does not portend WWIII at this juncture. PERIOD. Maybe things will change within a decade, but not in the near future.
So relax and uncork your beer!

[edit on 24-2-2006 by mikesingh]

Hey guys I was able to get some of this information mainstream. I E-mail this info to a radio host thats on AM640 up here in Toronto. Its Torontos biggest radio station and the guy talks politics on Saturaday from 10-2 at night. Last night he talked about how Iran was about to switch to the Euro for trade with oil and everything else posted in the original thread. I got the info out alittle so I hope some of you people are able to get in contact with radio hosts where you live and get the information out too.

The world is always in some kind of crisis. Can anyone recall a time where someone wasnt saying there is crisis somewhere on the this planet. I dont,same old #, different day if you ask me.

Got to thinking about this. The dollar has been going down hill since we got away from the gold/silver standard. The fiat money we use today is built upon debt (for every dollar you have in debt you are in the black if you are a lender) and the world economy is a US dollar based economy for the most part. A few countries have switched to the Euro and are not dollar based. The Fed tells the Treasurey Department starts printing monopoly money because of "counterfeiters" but doesn't take the other money completely out of circulation around the world to stop that source. We are running up a huge speding deficit and have had a huge trade imbalance with most coutries that produce stuff we like to buy. All of this culminates with a crazy in Venezuela...and a crazy in Iran....and a war in Iraq....and the Muslims rioting....and the Chinese pist at us for supporting the Taiwanese....and what do you get.....business as usual. People are going to say "the sky is falling" throughout the ages and in the future you will get more of the same. Be ready in all situations and you will never be suprised by anything if you live through the initial stages.

et al what he ^ said.

[edit on 9/3/06 by OneGodJesus]

Here comes the push to claim Iran is the new BIG THREAT to the US.. its all starting to fall in place...

Kansas really is gonna go bye bye...


Rice: U.S. faces 'no greater challenge' than Iran

Sorry.. after reading the above from CNN I just went into a daze. Everything ive been reading on ATS about Iran, the end of March, Euros... its all starting to come together... *sigh*

Yes it's all going down.....See people it's all starting to make sense, people are waking up....The line that is crossed next....is the line that which we can't step back....there is no stepping back after this....The globalists also know this, once it's pushed past the point, the flood gates of hell are coming, they need more chaos to bring in the power and control. If you feel something, well it's true....one spark is all it takes...the change is coming.....

the world is screw either way. we have ourselves to blame....

lets all join the army so we can go and fight. that way we won't die, resisting the draft.

say this could also be the beginning of a new era, an era of attention to detail, fine paint brushes and cheap glue.

look on the bright side. at least we'll all learn how to sew.

***go toohey's extra dry***


[edit on 10-3-2006 by spearhead]

I have been concerned about these issues since about october when I heard of the federal reserves plans and even more so after hearing about Iran's plans about trading oil in Euros . I pay poker online for a living and my savings are my bankroll for play. For the past few years 75% of my money was in U.S.$ In January however I transfered the 75% to Euros because I have been in such doubt. There is no doubt in my mind that the $ is in for a huge fall soon, I wouldnt go so far as to put an exact date on it though. We shall just need to wait and see. Alot of people are in for a very sore surprise I think.

Indeed....everyone must read this now www.amin.org... it pretty much explains it all, with Iran and that Euro thing.....You gotta get the word out...it's not about evil terrorists and a bomb.....They're gonna do this for other reasons...but the plan is gonna go sour....and they know it....but in actuality thats the whole point...ORDER OUT OF CHAOS.....Don't fall into the mind control of the threat...get the word out!!!

Originally posted by kaibraine
For the past few years 75% of my money was in U.S.$ In January however I transfered the 75% to Euros because I have been in such doubt.

You could use that money to buy tanglible objects, such as gold or silver. Check out the cheuvreux gold report. They're predicting for gold to rise up to $900 or more.

And of course, the first casualty of war is truth:

The United States Federal Reserve (the Fed) has announced that it will stop reporting the M3 money supply data of the US dollar on March 23, 2006. This has started some speculation in the investment and banking community on the possible instability in the dollar system that the Fed is trying to hide. (The Federal Reserve is a system of eight to twelve regional reserve banks, owned by its commercial member banks and supervised by the Federal Reserve Board.)

Source: en.wikipedia.org...

For those who don't know, M3 is a form of measurement of a nations money supply, which, crucially, includes reserves of dollars held by foreign banks.

The writing on the wall is that the USD in the years to come is about to tank, as nations start to dump it in favor of more stable currencies. M3 has been reported since the 50's, and it's a standard economic indicator that just about any central bank should keep track of. There is no way whatsoever that the Fed will not be keeping track of this figure- they just feel they shouldn't be reporting it anymore, after all these years. Go figure.

Some sites where you can read some of the best articles about M3 and the economy are:

www.gold-seek.com
www.321gold.com
www.gold-eagle.com
www.kitco.com

Originally posted by yeoldehomer
Anyone else feel like the world is coming to an end? Or have things been like this for ages:-

* Global Warming
* Terrorism
* Nukes
* Chinese (particularly that speech by the defence minister)
* Iran
* ETC ETC ETC

Not a good time to be living IMO. I mean, its great now, but things are getting worse.

I'd like to add the H6N1 virus to your list. Just wait for migrating birds this summer for it to hit the US. A pathogen gets my bet for the next HUGE change to life as we know it.

~~


just today, 10 March, i scanned over the article from the thread-starter post.
Along with the 2 factors US-Iraq & M3 info the author [LEAP/E2020] spoke of other factors+aspects+nodes=>
it got a bit into what i think is astrological jargon
which is pretty much the model for another 'time' oriented forcasting program aka 'Merlin', which also forcasts & prognosticates.

all well & good,
but...i'm wondering IF another factor/aspect that LEAP/E2020 used in the formula for deciding
that 20-26 March 2006 would be a beginning of a year long crisis....Would have been the anticipated buy-out & take-over of the Contracts & Operation of the Sea-Ports in NY. NJ, Phil, Balt, Miami, & some in TX.
by Dubai PortsWorld & the U.A.E. ...??

in as much, a +6 Billion $$ deal is not a instant decision sorta thing!
there were underwriters, transfer agents, banking interests, geo-political strategies by all the countries involved to mull over and address.

OR, was the possible backlash, on security grounds, one of the possible dynamics that was anticipated??
since Pres. GW Bush is characterized as thick-&-friendly to business and the World of Saudi, and by proximity, the cousin Arabs of the U.A.E.
? could Pres GW Bush, knowing that the engineered and managed devaluation of USD was presently under way, have been dealing from the bottom of the deck all along with the Ports Deal??

Its quite conveinient an article; "Arab Firms Reassessing U.S. Holdings"
is a new twist or backlash of the soured PortsDeal (####.abcnews.go.com/)

Was/is there a shrewed conspiracy being played out?
which will allow the vast sums of $$$ that Arab firms & emirs have invested in the US, to be re-allocated elsewhere, with nary an eyebrow being raised-----because the ME, and Arabian investors were treated indignantly by the Congress and Public Opinion?? as their monies and govt's are held out to be suspicious and tied to terror(isms)...whats it called? xenophobic ?

Originally posted by JamesinOz
Some sites where you can read some of the best articles about M3 and the economy are:

www.gold-seek.com
www.321gold.com
www.gold-eagle.com
www.kitco.com

Small correction; www.Gold-seek.com should read:

www.goldseek.com

This has been firmly debunked on Dailykos (certainly not a pro-neocon site) by somebody who actually works in international petroleum industry.

That quoted article is so much baloney:

If the IOB only accepts the euro for oil, any country could buy oil from any oil-producing nation using euros instead of dollars. The Iranian plan is not limited to purchasing one oil-producing country's oil with euros.

Guess what? There is NOTHING that prevents anybody from pricing oil in whatever currency they want---TODAY.

Much oil is not traded on the major futures exchanges (NYMEX, NYC, and IPE, London) and is instead negotiated privately party-to-party.

They could choose to write their terms in whatever they wanted.

If pricing oil in a certain currency were so valuable, why doesn't the IPE price oil in euros or sterling? Because it's pointless.

A futures contract in oil in euros is exactly equal to a futures contract for oil in dollars plus a euro/dollar forward contract. These can be easily arranged.

The net trading and depth in the currency markets massively exceeds that of the oil trade globally. What fraction of global oil trade would Iran's new bourse get? almost zilch.

And if Iran does have an oil bourse---it would be excellent for Western interests. Why? Because a critical factor is the stability and reliability for trading and settlement. Settlement in oil futures happens with *physical delivery*, which usually means some some place in Louisiana/Texas for NYMEX and Rotterdam for the IPE, if I'm not mistaken. This has to be absolutely protected for people to trust the exchange as a counterparty.

If Iran trades oil on a commodity exchange, then physical delivery to a well known transfer point, most likely Dubai, has to be guaranteed. Iran threatening to close oil shipping or its own prodution is completely counter the interests of setting up an oil exchange. Hence, if Iran had an oil exchange it would be good for Western interests, because it would mean that powerful and wealthy people in Iran would have an interest in maintaining stability and oil flows in order to guard their financial interests.

The fate of the US dollar is determined by interest rates and capital flows and central bank decisions. These days, that means the central banks of Japan and China, and then Europe and USA.

The petroeuro vs petrodollar is preposterous: anybody with dollars can convert to euros at an instant. So if people wanted petroeuros instead of petrodollars they can have them today. Whatever Iran does is completely irrelevant.

Dubai, a far more stable country than Iran, has an oil exchange too, but it has far less significance than NYMEX and IPE. What would Iran do to make theirs so much better? What's their advertising, "Hey, come trade oil here! Crazy presidents make it so much more exciting!"

Originally posted by mbkennel

The petroeuro vs petrodollar is preposterous: anybody with dollars can convert to euros at an instant. So if people wanted petroeuros instead of petrodollars they can have them today. Whatever Iran does is completely irrelevant.

On the one hand, I agree that concerns about the Iranian oil bourse are overhyped. It remains to be seen just how popular such an exchange would be.

But, you are missing a fundamental point- sure, anyone can change money at any tim they want. BUT- it's both more expensive to do so, AND more risky- that's a major reason why oil-importers keep dollar reserves to begin with. So they can pay for oil without having to worry about fluctuating exchange rates or the costs of exchange.