FWIW, William Engdahl says he can confirm Robert Fisk's report about the dollar

[Slimprofits]

http://www.engdahl.oilgeopolitics.ne..._collapse.html

The secret plan was first reported by respected Middle East correspondent, Robert Fisk, in the UK Independent. Fisk claims to have confirmed existence of the plan from Arab as well as Hong Kong Chinese sources. I have confirmed from very senior and well-informed Gulf sources that the talks are in fact real.

[..]

What is not clear is what the potential response of Germany and France, the two pivot powers within the EU will be. If they decide to cast their lot with oil producing and consuming countries, they open their doors to vast new trade and investment potentials from the countries of Eurasia. If they cringe from that and decide to remain with the British Pound and US dollar, they will inevitably sink along as the dollar Titanic sinks.

Interesting because I don't think Engdahl's ever been accused of harboring a political agenda, unlike Fisk.

[GRG55]

Re: FWIW, William Engdahl says he can confirm Robert Fisk's report about the dollar

http://www.engdahl.oilgeopolitics.ne..._collapse.html



Interesting because I don't think Engdahl's ever been accused of harboring a political agenda, unlike Fisk.

Senior officials I have spoken with here in the GCC in the past week won't deny it.

However they are unanimous in the view that Saudi Arabia will be the last to abandon the USA and the Dollar, and any such move is a long, long way in the future. When pressed the explanation is always "Saudi Arabia is different from every other place in the world"...

...and anyone that has ever set foot inside that Kingdom can confirm just how true that statement really is...

[blazespinnaker]

Re: FWIW, William Engdahl says he can confirm Robert Fisk's report about the dollar

I suspect they're more likely in talks about how to convince each other not to jump all at once, secretly hoping that they can somehow beat the other to the punch.

It's really in nobody's interest to leave the dollar though, except probably the US!

It's more in everyone's interest for the US to get its act together.

[doom&gloom]

Re: FWIW, William Engdahl says he can confirm Robert Fisk's report about the dollar

get our act together? you'll see this first....

[Tybee Island]

Re: FWIW, William Engdahl says he can confirm Robert Fisk's report about the dollar

Saudi Arabia will be the last to act and will suffer the most from not being preemptive. The UAE is already far ahead of them and Iran and Russia's joint announcements this morning only confirm that what is a rumor today is in fact old news. They are implementing what was decided over a year ago.

Putin is among the most skilled political tacticians in modern history, and is not to be underestimated.

[BiscayneSunrise]

Re: FWIW, William Engdahl says he can confirm Robert Fisk's report about the dollar

Agree with your sentiment on Putin.

The problem that Oil producing Arabs have is that on one hand they need to protect themselves from a declining dollar but on the other they can't afford to weaken the US economically or geopolitically.

Ever since the Royal Navy entered the Persian (Arabian) Gulf in the 1820's the Arab states there have relied on western powers to protect them from unfriendly neighbors (Ottomans, Nazi's, Soviets,).

With a weakened US, the Arab elites will be left to the tender mercies of the domestic radicals, Iranians, and Russians.

[goadam1]

Re: FWIW, William Engdahl says he can confirm Robert Fisk's report about the dollar

Agree with your sentiment on Putin.

The problem that Oil producing Arabs have is that on one hand they need to protect themselves from a declining dollar but on the other they can't afford to weaken the US economically or geopolitically.

Ever since the Royal Navy entered the Persian (Arabian) Gulf in the 1820's the Arab states there have relied on western powers to protect them from unfriendly neighbors (Ottomans, Nazi's, Soviets,).

With a weakened US, the Arab elites will be left to the tender mercies of the domestic radicals, Iranians, and Russians.

Golly, then a good way to protect dollar hegemony would be to destabilize or keep Iran from getting nukes but not defuse the threat and to increase troops in the region to keep as much energy producing states under our security umbrella. The problem is Obama is on the quest for peace and Pakistan isn't a 100% ally.

The great irony is the more we waste on military and the more we pollute the world monetary system with our bad debt the longer we hold off he day of reckoning.

[mooncliff]

Re: FWIW, William Engdahl says he can confirm Robert Fisk's report about the dollar

My reaction to the Fisk article was: Why is this news?

The party has gone on far too long, and now comes the petrodollar recycling Ponzi scheme hangover. If anything, I am amazed they kept it going this long.

http://en.rian.ru/russia/20091014/156468599.html

[c1ue]

Re: FWIW, William Engdahl says he can confirm Robert Fisk's report about the dollar

However they are unanimous in the view that Saudi Arabia will be the last to abandon the USA and the Dollar, and any such move is a long, long way in the future. When pressed the explanation is always "Saudi Arabia is different from every other place in the world"...

Parse that carefully and you'll note that what is said is not that Saudi Arabia will not switch, it is that they won't lead the movement. Given the numbers of US troops in and around SA, this is not surprising...

Putin is among the most skilled political tacticians in modern history, and its not to be underestimated.

There's not much skill necessary here. Russia is the only other nation which can even contemplate replacing the US de facto military oversight of Persian Gulf security.

With Iran, Iraq, and Afghanistan, the US has committed to spend more even in its time of greatest economic peril to confirm its existing status. In particular Russia has been given prime levers for both Iran (explicit/illicit breaking of gasoline embargoes) and Afghanistan (supply flights, sanctuary in the Central Asian Republics for Afghan fighters, etc).

What there is need of is patience. That Putin seems to have.

The problem is Obama is on the quest for peace and Pakistan isn't a 100% ally.

Are you satirizing the Nobel or being serious?

[BiscayneSunrise]

Re: FWIW, William Engdahl says he can confirm Robert Fisk's report about the dollar

Golly, then a good way to protect dollar hegemony would be to destabilize or keep Iran from getting nukes but not defuse the threat and to increase troops in the region to keep as much energy producing states under our security umbrella. The problem is Obama is on the quest for peace and Pakistan isn't a 100% ally.

The great irony is the more we waste on military and the more we pollute the world monetary system with our bad debt the longer we hold off he day of reckoning.

Just finished watching two great finishes: Florida over Arkansas and USC over Notre Dame.

A strong military follows a strong dollar/economy. A strong military does not guarantee a strong economy as evidenced by the Soviets.

Our military budget pales in comparison to the trillions squandered propping up the FIRE economy. I don't think we can blame failure of the "American Empire" on military waste and geopolitical overreaching. Our geopolitical weakness is a direct result of a weakening economy.

I'm not sure I get your point about Obama's pursuit of peace and Pakistan's weaknesses as they pertain to dollar strength.

Now signing off to watch my precious Hurricanes. Cheers!

[Slimprofits]

Re: FWIW, William Engdahl says he can confirm Robert Fisk's report about the dollar

My reaction to the Fisk article was: Why is this news?

The party has gone on far too long, and now comes the petrodollar recycling Ponzi scheme hangover. If anything, I am amazed they kept it going this long.

http://en.rian.ru/russia/20091014/156468599.html

It's news because Fisk's report was picked up by every mainstream outlet you can't think of.

People that normally don't pay attention to anything about the currency wars heard about it Fisk's report if they picked up a newspaper or read any news online in the days after it was printed.

For example:

http://www.walletpop.com/blog/2009/1...u-hold-for-td/

[MarkL]

Re: FWIW, William Engdahl says he can confirm Robert Fisk's report about the dollar

get our act together? you'll see this first....

Considering the rapidly advancing state of genetics, and the rapidly declining state of politics... I actually think this literally could be true.

[Slimprofits]

Re: FWIW, William Engdahl says he can confirm Robert Fisk's report about the dollar

http://en.rian.ru/russia/20091014/156468599.html

20:5014/10/2009

Russia is ready to consider using the Russian and Chinese national currencies instead of the dollar in bilateral oil and gas dealings, Prime Minister Vladimir Putin said on Wednesday.

The premier, currently on a visit to Beijing, said a final decision on the issue can only be made after a thorough expert analysis.

“Yesterday, energy companies, in particular Gazprom, raised the question of using the national currency. We are ready to examine the possibility of selling energy resources for rubles, but our Chinese partners need rubles for that. We are also ready to sell for yuans,” Putin said.

[Slimprofits]

Re: FWIW, William Engdahl says he can confirm Robert Fisk's report about the dollar

http://www.reuters.com/article/compa...31520620091017

COCHABAMBA, Bolivia, Oct 17 (Reuters) - Venezuelan President Hugo Chavez said on Saturday that countries including Venezuela, Russia and Iran had proposed the U.S. dollar should be replaced as the currency used for the oil trade.

"We've been talking about this in OPEC. Venezuela agrees and there are other countries, such as Iran and Russia that have also proposed this idea," Chavez told reporters in the central Bolivian region of Cochabamba, where he was attending a summit of leftist Latin American presidents.

[Slimprofits]

Re: FWIW, William Engdahl says he can confirm Robert Fisk's report about the dollar

It's news because Fisk's report was picked up by every mainstream outlet you can't think of.

People that normally don't pay attention to anything about the currency wars heard about it Fisk's report if they picked up a newspaper or read any news online in the days after it was printed.

For example:

http://www.walletpop.com/blog/2009/1...u-hold-for-td/

I've read versions of the following article on about ten different local newspaper websites this week.

http://www.post-trib.com/business/18...iz1016.article

Smart investors can still take advantage of decline in dollar