World’s Reserve Currency War I = Cold War 2.0 = WW III (?) (September 8, 2014)
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7 “Someday someone will realize that the attacks on Saddam Hussein in Iraq and on Muammar Gaddafi in Libya were motivated in part by their efforts to undertake oil sales in something other than American dollars. If the American dollar is no longer the world’s petro dollar and reserve currency, America will not be able to dictate and drive world economic affairs. America wants Europe to be dependent on America and American gas and on the American dollar, not on Russia and Russian gas and on some financial measure and medium other than the American dollar. And along comes Putin who is peddling oil and gas using something other than the American dollar.”
8 “That makes Putin ‘Public Enemy No. 1.’ So the U.S. is imposing economic sanctions on the Russians which are also economic sanctions on the Europeans and others. The only way for the U.S. to compel continued use of the petro dollar is to be the empire providing, controlling and protecting the petro supply. Now the U.S. is trying to provide rather than just control and protect the supply. For decades, the U.S. imported oil and gas from countries that disregarded environmental standards and now the U.S. is disregarding environmental standards and seeking to export gas produced using fluids and processes that are destructive to the land and water here in the good old U.S. of A. What are we doing?”
7 “America is on the retrograde in overdrive. Until recently, America ‘imported’ oil and ‘exported’ the pollution necessary to produce it. Now America seeks to ‘export’ gas and ‘import’ the pollution and degradation necessary to produce it. Pollution and degradation are externalities that are not paid by the oil and gas companies. If the oil and gas companies internalized the costs of the pollution and degradation, they could pass the costs on to the consumer and allow the consumer to decide how much oil and gas should be produced.”
8 “And look at those we call our allies. Among other countries, Britain, France, Poland and Bulgaria are refusing to embrace fracking and the resulting environmental damage. U.S. interests are interested in obtaining access to the gas reserves in the Ukraine and using fracking techniques to extract the gas. The lawyers and the lobbyists have been deployed. The sons of the Ruling Class like Kerry-Heinz and Biden are positioned and poised to make a killing.”
7 “Only after many others get killed. America cannot secure and dictate the distribution of the gas to Europe and others as quickly as Russia and Europe will be required to respond to the economic sanctions. Russia and Russians are much more resilient and resourceful than America and Americans. The Russians won World War II for the West. Starting World War III with them is not likely to end well. The Russians will develop workarounds to circumvent the economic sanctions and may dislodge the almighty dollar from the world stage.”
8 “The Europeans also need to learn to accommodate, but they could balk this winter at freezing to fuel the U.S. dollar.”
7 “They could sew American dollars together to make a shawl. Americans devised ‘Hoover blankets’ from newspapers and Europeans could craft ‘Benjamin blankets’ from American bucks. No one will strenuously dispute that it is or soon will be ‘Cold War 2.0’.”
8 “The Chinese may break the tie. China and Russia and other countries could work together to circumvent the sanctions and develop a competing and competitive international economy devoid of the dollar. Russia could provide China with access to the Arctic and allow them to proceed in the South China Sea.”
7 “Then America would boycott all Chinese goods. See how they like that.”
8 “A friend is convinced that all the gold in Ft. Knox and all of Germany’s gold in the Federal Reserve Bank of New York was transferred to the Chinese to stave off a sale of Treasury bonds. They may be prepared. The economic sanctions are seen as exercises of ‘soft power,’ yet they may expose how soft the American economy really is today.”
7 “That is why so many powerful interests are lobbying so aggressively for the U.S. to use ‘hard power.’ Wars are big business; wars are good for business. Look at all the misinformation involving the attack on the aircraft flying on flight MH17 that is bandied about to justify military action. False Flag capers are the easiest way to get the populace to rally ‘round the flag.”
8 “Here there be dragons.”
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8 “Here there be no angels. The Russian oligarchs who control the gas fields are as corrupt as the U.S. bankers who control oil and gas prices. Look at the shenanigans and manipulations during the summer of 2008. No one does anything.”
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Bumper stickers of the week:
Strategy: Cut off your face to spit your face
Dollar slaves; Dollar serfs