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Ram

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Sage Dave. Imran Khan may be a bit of an exception, 14 years in politics and not getting a single seat, ridiculed by all and being the square root of fark all in politics, despite receiving vast funding. Now, all of a sudden, this person with no taint against him has become one of the top leaders in Pakistan, which has suffered under consecutive administrations of extreme corruption and topped off by the current PPP govt. THat said, the Tehreek e Insaf does have Javed Hashmi and Shah Mahmood Qureshi in its cadre.
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  • blutto

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    ...looks like the vampire squids may take one in the five hole...will be very interesting how this plays out...

    ...will the potential deal get squashed before its official...amended after the fact?...

    ...or will the squids reach for the nuclear option?...

    --------------------------------------------------------------------------------------------------------------------------

    BRUSSELS - A person familiar with the negotiations to slash Greece's massive debt says private creditors participating in the deal would face an overall loss on their bondholdings of around 70 per cent.

    Athens and representatives of banks and other investment funds holding Greek government bonds over the weekend came close to a final deal designed to make Greece's debt sustainable. That is a precondition for further bailout money for Greece from the eurozone and the International Monetary Fund.

    The person said Monday that the 70 per cent loss was produced by cutting the bonds' face value in half, reducing the average interest rate to less than 4 per cent and pushing repayment of the bonds decades into the future.

    The person spoke on condition of anonymity because the talks are confidential.
     
    ---------------------------------------------------------------------------------------------------------------------------

    Cheers

    blutto
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  • blutto

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    Sage Dave. Imran Khan may be a bit of an exception, 14 years in politics and not getting a single seat, ridiculed by all and being the square root of fark all in politics, despite receiving vast funding. Now, all of a sudden, this person with no taint against him has become one of the top leaders in Pakistan, which has suffered under consecutive administrations of extreme corruption and topped off by the current PPP govt. THat said, the Tehreek e Insaf does have Javed Hashmi and Shah Mahmood Qureshi in its cadre.

    ...so how is the potential of hostilities vis a vis Iran playing out on the Indian sub-continent?....are responses simply tied to the issue of oil/energy or are there other issues that play into it?...is there a left right split on the issue?...where does the moneyed classes and miltary factions stand on this?...do Pakistan and India have similar/different stands?...

    ...and is it true the India will go along with rumoured Iranian requests that oil be paid with gold?....and if so, how will that affect Indian/US relations?...and that could be the biggie because that conflict may just be about currency and not WMD's as is assumed ( err, sold )....

    ...sorry for the barrage of questions but inquiring minds are itching to know...

    Cheers

    blutto
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  • « Last Edit: January 30, 2012, 18:32 by blutto »

    Amsterhammer

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    I always enjoy Ram's takes on 'our' big issues. The view from India is often so different to the standard views we usually hear. Refreshing perspective.
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  • Rock On and keep the Faith


    Ram

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    ...so how is the potential of hostilities vis a vis Iran playing out on the Indian sub-continent?....are responses simply tied to the issue of oil/energy or are there other issues that play into it?...is there a left right split on the issue?...where does the moneyed classes and miltary factions stand on this?...do Pakistan and India have similar/different stands?...

    ...and is it true the India will go along with rumoured Iranian requests that oil be paid with gold?....and if so, how will that affect Indian/US relations?...and that could be the biggie because that conflict may just be about currency and not WMD's as is assumed ( err, sold )....

    ...sorry for the barrage of questions but inquiring minds are itching to know...

    Cheers

    blutto


    It really isn't as important an issue around here in the subcontinent as one would think. There's not much doubt that the memo scandal is by far the biggest news in the subcontinent, of course more in Pakistan than India. After all, it is election season and the biggest state goes to polls along with a few others.

    To the second question, for us in India, this is mainly an energy issue but if there's a Nuke on the way, the problems could be felt a bit closer home, mainly due to the Saudi reaction.
    http://articles.economictimes.indiatimes.com/2012-01-29/news/30674049_1_asian-clearing-union-oil-trades-oil-payments
    A third of the oil imported is from Iran, that alone should be a huge deterrent to buckle under pressure from the sanctions.

    Now to answer the third question of whether there is a left right split. If the govt doesn't stop trade with Iran (and from the statements, it appears that India won't), there won't be an issue with the Indian left. If India's public oil companies stop importing oil (though it won't happen), the effects on kerosene subsidies can vastly affect the govt and the subsequent rise in petrol and diesel prices will be very sharp, raising an already alarming level of inflation. That wouldn't make the opposition parties too happy.

    How is the payment for the oil to be done? Nothing official has been released yet and just yesterday RBI's deputy governor (second in command) stated that India's looking at viable options, including payment through Rupees.
    Gold? I don't know. India has the 11th or 12th highest amount in terms of gold reserves, so it is an option. I'd think Rupees may be more likely. Even the Euro is a possible option as this article states
    http://www.deccanherald.com/content/223339/india-wont-cut-oil-imports.html

    As for India-US relations, I'm not sure again. It wouldn't be wise of the US administration to weaken relations with a stable govt in a vital region for the “war on terror”. With the situation in Pakistan playing out the way it is there, I'd say it is even more important to not let hostilities grow India. The subservient ally Pakistan (not difficult ally as is shown) may also start to stand up for the nation if the rhetoric from the PTI is to be believed. Things will not suddenly change, but the US/NATO will not just have it their way as has been the case in the past few years. The same goes for India, there's still the implementation part of the Nuclear pact to be done and that's going to be vital to maintain positive relations between the two nations.

    A final footnote, there is definitely going to be no military intervention from India. The military is controlled by a strong govt and has only been used for defending shores.
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  • « Last Edit: January 31, 2012, 05:26 by ramhasajammytrike »

    blutto

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    Good Evening Mr. R...trike,

    ...awesome response...thank you very much...

    Cheers

    blutto
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  • Ram

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    Morning blutto.

    I have to add, if the military/security forces have overstepped their mark, they are mainly domestic rather than in other shores.
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  • blutto

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    ...serious stuff? most certainly...funny? oh yeah!

    ---------------------------------------------------------------------------------------------------------------------
     Awesome
     
    Irked by abortion bill, Va. senator adds rectal exams for men
     
    Roanoke Times: The state Senate this afternoon gave preliminary approval for legislation that would require pregnant women to undergo ultrasound imaging before an abortion, but not before rejecting a Democratic senator’s attempt to add what she described as “a little gender equity” to the bill.
     
    Democrat Janet Howell of Fairfax County proposed requiring men to undergo a rectal exam and a cardiac stress test before getting prescriptions for erectile dysfunction drugs such as Viagra.
     
    “This is a matter of basic fairness,” Howell said.

    -----------------------------------------------------------------------------------------------------------------
     
    Cheers

    blutto
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  • « Last Edit: January 31, 2012, 05:57 by blutto »

    Ram

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    I'd like a probe into this matter.
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  • blutto

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    ...ok...someone didn't sleep well last and then felt like he got thwacked with a 2x4 soon after stumbling out of bed...the following is the result...sorry if it offends your most tender sensibilities ( for those out there that have same )...so, first some brilliance, then some yoiks...

    ...first the brilliance...

    A THOUGHT FOR TODAY:

    If you wish to make an apple pie truly from scratch, you must first invent the universe. -Carl Sagan, astronomer and writer (1934-1996)

    ...and now the yoiks..

    ....first, as what the fornicate are these arse-holes thinking ???????????....as if their last idea wasn't stupid enough, now they are doubling down with off the scale stupid...and I'm sure someone in that organization is thinking...wow....this is really leading edge science type stuff....and the fornicatetards in charge are thinking...wow...now I can buy that new yacht...and I'm thinking...wow... we are now royally and truly fornicateed...

     http://grist.org/industrial-agriculture/monsantos-new-seeds-could-be-a-tech-dead-end/

    ...and now something to make you sleep better at night...guaranteed....because after reading this you are guaranteed to drink yourself into a stupor and pass out...OK, technically that is not sleeping but you get the drift...as in guilty doesn't equal suspected either....

     ...seems suspected is now the new guilty beyond a shadow of a doubt...which I believe consitutes a genuine there is a definitely a brave new world ahead alert...might be a good time for everyone to start concentrating on stuff like say, Lance, and stop dealing with the big questions because some of the answers may end up hurting you real bad...because they know where you live and what you think....

     http://motherjones.com/mojo/2012/01/panetta-obama-signs-killings-americans-suspected-terrorism

     Cheers

    blutto

     


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  • « Last Edit: January 31, 2012, 13:29 by blutto »

    Amsterhammer

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    I'd like a probe into this matter.

     ;D

    Good morning to my two fellow 'serious' sh!t posters. :P

    There's plenty to go around....where to begin?

    The Florida primary today, looks like Mitt has indeed re-taken the lead from the appaling Newt, who is determined to fight Mitt all the way to the convention.

    Norwegian killer loony Breivik has agreed to, and been allowed to, give  a tv interview before his trial starts. ::)

    The EU reached a deal on the way forward from the economic crisis. The deal apparently includes the Greeks getting shafted.

    More militant attacks in Pakistan....

    And then, there's Syria. It looks like the UN is finally manning up a bit and taking a position - they will call on Assad to stand down!  ;D Assad will tell them to f*** off and the killing of civilians will continue unabated until someone, somewhere, decies that enough is enough. Do not hold your breath. >:(
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  • Ram

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    Evening Amster.
    Straight face.

    300 Taliban militants attack a Pakistani checkpost according to a military official. Hard to believe how this organisation is going to form constructive talks.
    7 soldiers and 25 militants were killed.

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  • Amsterhammer

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    Evening Amster.
    Straight face.

    300 Taliban militants attack a Pakistani checkpost according to a military official. Hard to believe how this organisation is going to form constructive talks.
    7 soldiers and 25 militants were killed.

    My next question to you was going to be about these prospective talks between Karzai and the heathens. I really can't see anything coming of this. A decision will soon be required by NATO/US: do we keep pumping billions of bucks, and lose more lives, in a bottomless pit of a confrontation that will never achieve 'victory' in the conventional sense, OR do we let the Afghans just get on with it themselves, which will invariably lead to the heathen bearded ones regaining power? Some dilemma. :(
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  • Ram

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    There are two ways to look at it. One way is purely the American's point of view, like the journalist from the LA times who appears on Dateline London. Obama is in no way answerable to the Afghan people and is to the American population. A war against an invisible enemy in unfavourable terrain isn't going to strengthen the case for troops to remain there.

    The other way, and the way politics seems to be run these days, is to consider historical backgrounds of each case, be it Germany spearheading each country's bailouts or as in this case. We can't forget (and I'm sure you haven't) that if it weren't for the Soviet war, and the US and Pakistani intelligence, the Taliban would have been a toothless organisation. There may be a case of historical responsibility being taken on by the Obama administration (or it could be a simple case of lost pride due to retreat).

    What will weigh more importantly on the govt should be telling in the future course of the war.

    Looking at it from a purely Indian (and supposedly parts of Afghanistan) point of view, I'd hope that the US/NATO stay and play a constructive role in creating a more stable Afghanistan because the current President Hamid Karzai, I believe, is the pits of the politicians society. What would that constructive role be? Electoral institutions, the base for proper education of all sections of society and finding viable crops to be a substitute for the vast opium farms there. India is one of the softest targets for extremist groups like the Taliban, the Indian Airlines IC 814 hijacking, and due to the Kashmir situation is also seen as an enemy by such groups.

    Historically, Afghanistan has been one of the hardest places to conquer. It has been the case since the days of Alexander. Climate, disease and an impossible terrain have meant that even the fiercest military in the faced defeat. Although in Alexander's case, the morale was already supposedly down because of the countless battles and supposed innumerable troops of Magadha empire.
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  • « Last Edit: January 31, 2012, 17:00 by ramhasajammytrike »

    DinZ

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    ...ok...someone didn't sleep well last and then felt like he got thwacked with a 2x4 soon after stumbling out of bed...the following is the result...sorry if it offends your most tender sensibilities ( for those out there that have same )...so, first some brilliance, then some yoiks...

    ...first the brilliance...

    A THOUGHT FOR TODAY:

    If you wish to make an apple pie truly from scratch, you must first invent the universe. -Carl Sagan, astronomer and writer (1934-1996)

    ...and now the yoiks..

    ....first, as what the fornicate are these arse-holes thinking ???????????....as if their last idea wasn't stupid enough, now they are doubling down with off the scale stupid...and I'm sure someone in that organization is thinking...wow....this is really leading edge science type stuff....and the fornicatetards in charge are thinking...wow...now I can buy that new yacht...and I'm thinking...wow... we are now royally and truly fornicateed...

     http://grist.org/industrial-agriculture/monsantos-new-seeds-could-be-a-tech-dead-end/

    ...and now something to make you sleep better at night...guaranteed....because after reading this you are guaranteed to drink yourself into a stupor and pass out...OK, technically that is not sleeping but you get the drift...as in guilty doesn't equal suspected either....

     ...seems suspected is now the new guilty beyond a shadow of a doubt...which I believe consitutes a genuine there is a definitely a brave new world ahead alert...might be a good time for everyone to start concentrating on stuff like say, Lance, and stop dealing with the big questions because some of the answers may end up hurting you real bad...because they know where you live and what you think....

     http://motherjones.com/mojo/2012/01/panetta-obama-signs-killings-americans-suspected-terrorism

     Cheers

    blutto

    I love the way that the issue in the second article appears to be the killing of Americans suspected of terrorism without trial. Anyone else is fair game
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  • Amsterhammer

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    Re: News, politics, serious stuff (no religion!)
    « Reply #46 on: February 01, 2012, 13:40 »
    A question/suggestion for those with an interest in this topic -

    There came a point in the other place when it seemed to be a good idea to divorce the US election from the  General politics topic. Subsequent posting levels in that topic would appear to have justified the decision to divorce the two.

    The US election circus will, of course, continue all year. We may, therefore, be faced with the same decision here. At the moment though, I believe that there are only two or three posters (Scott, Hitch, blutto) other than myself  with a certain and ongoing interest in this subject, so I think that a separate topic would be both premature and unnecessary.

    I'd like to ask anyone interested for their thoughts on how to proceed. For my part, I have no problem with continuing specific US election discussion in the relevant established topic over there, rather than only two or three of us spamming this topic with such talk.
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  • blutto

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    Re: News, politics, serious stuff (no religion!)
    « Reply #47 on: February 01, 2012, 14:30 »
    A question/suggestion for those with an interest in this topic -

    There came a point in the other place when it seemed to be a good idea to divorce the US election from the  General politics topic. Subsequent posting levels in that topic would appear to have justified the decision to divorce the two.

    The US election circus will, of course, continue all year. We may, therefore, be faced with the same decision here. At the moment though, I believe that there are only two or three posters (Scott, Hitch, blutto) other than myself  with a certain and ongoing interest in this subject, so I think that a separate topic would be both premature and unnecessary.

    I'd like to ask anyone interested for their thoughts on how to proceed. For my part, I have no problem with continuing specific US election discussion in the relevant established topic over there, rather than only two or three of us spamming this topic with such ta

    ...maybe letting the water find its own level ( so to speak ) may be the best course at this time...though the idea of having an extensive thread menu also has its appeal ( which in the early stages may have to be imposed rather grown organically )...either way we seem to be having fun but that is a thing that we should at some point consider...

    ....hmmm...hmmm...maybe leaning toward an imposed more extensive menu ( though not a big lean )...

    Cheers

    blutto
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  • Amsterhammer

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    Re: News, politics, serious stuff (no religion!)
    « Reply #48 on: February 01, 2012, 14:40 »

    ....hmmm...hmmm...maybe leaning toward an imposed more extensive menu ( though not a big lean )...

    Cheers

    blutto

    So, you favor a separate topic?
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  • blutto

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    Re: News, politics, serious stuff (no religion!)
    « Reply #49 on: February 01, 2012, 15:10 »
    So, you favor a separate topic?

    ....errr...yes...

    Cheers

    blutto
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  • blutto

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    Re: News, politics, serious stuff (no religion!)
    « Reply #50 on: February 01, 2012, 15:10 »
    ...well this is a start....and I hope it continues unabated until the prisons are full...though I'm not holding my breath...

    ...if it helps bring the financial world ( esp the vampire squids ) down to earth we may have a chance at a financial recovery....

    http://ca.news.yahoo.com/u-charge-ex-suisse-traders-subprimes-sources-010811053.html

    Cheers

    blutto
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  • « Last Edit: February 01, 2012, 15:11 by blutto »

    Amsterhammer

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    Re: News, politics, serious stuff (no religion!)
    « Reply #51 on: February 01, 2012, 15:25 »
    Pff, a few small fish go to court, the big boys get jobs at the Fed and in Washington. It's all so thoroughly depressing and rotten in US politics and finance.
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  • blutto

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    Re: News, politics, serious stuff (no religion!)
    « Reply #52 on: February 01, 2012, 15:41 »
    James Clapper, US director of national intelligence, also says Tehran is keeping option open to develop nuclear weapons

    By Julian Borger, diplomatic editor

    January 31, 2012 "The Guardian" -- America's top intelligence official has claimed that Iran's leadership was now more willing than before to carry out an attack inside the US, and that intelligence agencies were worried about plots against US and allied interests around the world.

    In a report to Congress, the director of national intelligence, James Clapper, said a plot to blow up the Saudi ambassador in a Washington restaurant - which the US blamed on Iran's Revolutionary Guard - "shows that some Iranian officials, probably including supreme leader Ali Khamenei, have changed their calculus and are now more willing to conduct an attack in the United States in response to real or perceived US actions that threaten the regime".

    Clapper added: "Iran's willingness to sponsor future attacks in the United States or against our interests abroad probably will be shaped by Tehran's evaluation of the costs it bears for the plot against the ambassador as well as Iranian leaders' perceptions of US threats against the regime."

    US officials have expressed concern that the Revolutionary Guards' Quds Force, responsible for external operations, could have sleeper cells in the US or over the border in Mexico and the rest of Latin America.

    Clapper's statement was the latest salvo in a war of words between the west and Iran over Tehran's nuclear programme and planned oil embargos by both the US and European Union.

    Clapper said Iran was "keeping open the option to develop nuclear weapons".

    "We do not know, however, if Iran will eventually decide to build nuclear weapons," Clapper said, pointing out in answer to questions from senators that there were "certain things [the Iranians] have not done" that would be necessary to build a warhead.

    The intelligence chief said despite the threatened oil embargos, due to take effect in five months' time, "Iran's economic difficulties probably will not jeopardise the regime".

    ...oh dear gawd!...don't want to get way tinfoil hat here but this has false flag written all over it...doesn't it????...

    ...the Iranians couldn't possibly be this stupid...or could some faction within Iran be that stupid and go rogue...

    Cheers

    blutto
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  • Zam

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    Re: News, politics, serious stuff (no religion!)
    « Reply #53 on: February 01, 2012, 15:44 »
    Cnn saying an Amtrak train derailed.
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  • blutto

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    Re: News, politics, serious stuff (no religion!)
    « Reply #54 on: February 01, 2012, 17:19 »
    ...a bit of old history, and somewhat off the beaten path but well worth it... I dream of writing this well...

    http://www.lettersofnote.com/2012/01/to-my-old-master.html


    ....and below the intro from the site I sourced this from...


     I'm enormously pleased to bring you this treasure.

    Please take a minute, if you have one, to read it through. You won't be displeased — it's a treat from end to end. This man is smart and he has style, a sense of humor, kindness, and justice. The attack comes slowly, and it's elegant.

    The tone of the whole is pitch-perfect; the closing, a masterpiece of nuance and understatement. Enjoy

    Cheers

    blutto
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  • « Last Edit: February 01, 2012, 17:23 by blutto »

    Amsterhammer

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    Re: News, politics, serious stuff (no religion!)
    « Reply #55 on: February 01, 2012, 17:35 »
    ...a bit of old history, and somewhat off the beaten path but well worth it... I dream of writing this well...

    http://www.lettersofnote.com/2012/01/to-my-old-master.html

    Cheers

    blutto

    Wow! Stunning. Beautiful. Thank you, I'll be passing this on. ;)
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  • Cobblestoned

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    Re: News, politics, serious stuff (no religion!)
    « Reply #56 on: February 01, 2012, 22:07 »
    James Clapper, US director of national intelligence, also says Tehran is keeping option open to develop nuclear weapons

    By Julian Borger, diplomatic editor

    January 31, 2012 "The Guardian" -- America's top intelligence official has claimed that Iran's leadership was now more willing than before to carry out an attack inside the US, and that intelligence agencies were worried about plots against US and allied interests around the world.

    In a report to Congress, the director of national intelligence, James Clapper, said a plot to blow up the Saudi ambassador in a Washington restaurant - which the US blamed on Iran's Revolutionary Guard - "shows that some Iranian officials, probably including supreme leader Ali Khamenei, have changed their calculus and are now more willing to conduct an attack in the United States in response to real or perceived US actions that threaten the regime".

    Clapper added: "Iran's willingness to sponsor future attacks in the United States or against our interests abroad probably will be shaped by Tehran's evaluation of the costs it bears for the plot against the ambassador as well as Iranian leaders' perceptions of US threats against the regime."

    US officials have expressed concern that the Revolutionary Guards' Quds Force, responsible for external operations, could have sleeper cells in the US or over the border in Mexico and the rest of Latin America.

    Clapper's statement was the latest salvo in a war of words between the west and Iran over Tehran's nuclear programme and planned oil embargos by both the US and European Union.

    Clapper said Iran was "keeping open the option to develop nuclear weapons".

    "We do not know, however, if Iran will eventually decide to build nuclear weapons," Clapper said, pointing out in answer to questions from senators that there were "certain things [the Iranians] have not done" that would be necessary to build a warhead.

    The intelligence chief said despite the threatened oil embargos, due to take effect in five months' time, "Iran's economic difficulties probably will not jeopardise the regime".

    ...oh dear gawd!...don't want to get way tinfoil hat here but this has false flag written all over it...doesn't it????...

    ...the Iranians couldn't possibly be this stupid...or could some faction within Iran be that stupid and go rogue...

    Cheers

    blutto

    That sounds like Rumsfeldish.
    No, not you, blutto.  ;D

    What a drama. Why don't they just leave those fairy tales away this time and just bomb them back into stoneage ?
    Greetings from Old Europe.
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  • DinZ

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    Re: News, politics, serious stuff (no religion!)
    « Reply #57 on: February 01, 2012, 22:38 »
    OK Apologise for my ignorance but my knowledge of american politics is very limited, and the little i do know comes from watching Jon stewart.

    Saw Mitt Romney's win in Florida and realised i had no real idea what the different candidates stand for. Pretty certain from what i have seen i am unlikely to like any of them but thought i should try and understand which ones i should be more wary off.

    anyone out there want to have a stab at a dummies guide to the main candidates?
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  • Amsterhammer

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    Re: News, politics, serious stuff (no religion!)
    « Reply #58 on: February 02, 2012, 00:34 »
    OK Apologise for my ignorance but my knowledge of american politics is very limited, and the little i do know comes from watching Jon stewart.

    Saw Mitt Romney's win in Florida and realised i had no real idea what the different candidates stand for. Pretty certain from what i have seen i am unlikely to like any of them but thought i should try and understand which ones i should be more wary off.

    anyone out there want to have a stab at a dummies guide to the main candidates?

    Jon Stewart is a good place to start!  ;)

    I'll be happy to give you my thumbnail sketches, though Scott might come in and disagree.

    Realistically, the nomination for Republican challenger to Obama in November can only be between Mitt Romney and Newt Gingrich. The other two remaining contenders, Ron Paul and Rick Santorum, swear that they will continue through the primaries up to the Republican convention (in August, I believe). They have no chance, unless some unimaginable miracle takes place.

    Romney - ex-governor, filthy rich, earned a lot of his money by dubious business practices. By today's standards he is a relatively 'liberal' Republican, though he has hardened his views in order to increase appeal to conservative Reps. You can't be 'conservative' enough for Rep. voters in 2012.

    Gingrich - ex-speaker of the House, a man who was drummed out of office by a bi-partisan committee during Clinton's second term for various unsavory and unethical practices. He claims to be the only true, and electable conservative in the race. He is a sneak, aworm, and a liar.

    Paul - a libertarian nutcase who is unelectable. His few good ideas (withdraw troops, stop fighting foreign wars) are counter-balanced by a plethora of lunatic positions on health, social security, rights of aliens, gay marriage, states rights.

    Santorum - a catholic, religious and social conservative senator from Pennsylvania, who is probably the most extremely conservative one of all. He is also unelectable.

    My personal preference is for Gingrich as candidate, for one simple reason. Romney is much of a muchness with Obama. Gingrich is a real contrast to the President. Moreover, with Gingrich as candidate, I am absolutely convinced that many moderates and independents among the electorate will get up and vote on the day, which they may well not do with Romney as candidate.

    I guess it's clear that I see the sitting President as by far the lesser of two evils, even though he has been a great disappointment to me and millions of others who voted for him in 08.
  • ReplyReply

  • blutto

    • Road Captain
    • Country: 00
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    Re: News, politics, serious stuff (no religion!)
    « Reply #59 on: February 02, 2012, 05:19 »
    ...sorry for continuing to harp on the Iranian issue but I feel this is gonna be very interesting as it unfolds( assuming of course that the US just doesn't go beserk and just level the country )...here is yet another article on the issue and in this case with some very interesting backstory elements....

    ---------------------------------------------------------------------------------------------------------------------------

    In return Saudi Arabia, and by extension OPEC, agreed to sell their oil in US dollars only.  As if that weren’t sweet enough, as part of the deal, they were required to invest their profits in US treasuries, bonds and bills. The real zinger is that all countries purchasing oil from OPEC had to do so in US dollars, or ‘petrodollars’. 

    This strengthened the US dollar, resulting in a steady US economic growth cycle throughout the 80’s and 90’s. Countries purchasing OPEC oil started buying US treasury bills, bonds and securities to ensure they could continue purchasing OPEC oil.  This worked fine for the US until 2001.

    No plan, however well formulated, functions smoothly indefinitely.

    2001, enter Saddam Hussein. He floated a plan to sell oil for European currencies in lieu of petrodollars.

    ......taken from...   http://www.informationclearinghouse.info/article30409.htm

    Cheers

    blutto
  • ReplyReply
  • « Last Edit: February 02, 2012, 05:20 by blutto »

     



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