-
The
trillions of U.S. dollars floating around outside the borders could
come back here in a panic if the dollar were to weaken relative to
other currencies.
-
There
were weapons of mass destruction in Iraq, in the form of a
threat to use the EURO currency. The petrodollar depends upon Iraq's
oil reserves to defend the United States dollar against the EURO and
other currencies. In 2001, well before Iraq's invasion, the dollar
faced uncertainty as an overpriced, debt heavy currency against a
new and robust EURO. The dollar was losing ground. Had
the United States and its coalition not intervened militarily in
Iraq, the Euro strategy so overwhelmingly embraced by Saddam Hussein
and his advisers would have ultimately been Iraq's weapon of mass
destruction, with its principal target being the US economy!
-
In
2002, the US debt was $6 trillion against a gross domestic product
of $9 trillion. Global economies have dollars to service foreign
debts, and accumulated dollar reserves sustain the exchange value of
their own currency. The world's central banks hold dollar reserves
equal to their currency in circulation. The more pressure to devalue
a currency, the more dollar reserves are required. This makes each
economy dependent upon the US dollar, or known as dollar hegemony,
constructed mainly by oil -- in other words, oil producing nations
historically only accepted dollars, until the EURO. But with this
currency game, the US essentially owns the world oil trading market
for free, and allows the US to build its debt based upon credit
assets they don't physically own. With The United States in control
of Iraq, oil trade reverts to dollars.
-
Keeping
oil priced exclusively in dollars was enough cause for waging war in
Iraq after Iraq's bold switch to EURO oil payments in 2002. The
White House public relations campaign chose to pick emotional reason
for invasion. OPEC, North Korea, Iran, and Russia now plan to trade
in EUROs as the dollar continues to slide in value.
-
Economist
commentator Sonja Ebron wrote, "An OPEC switch from the dollar
to the euro would bring a quick and devastating dollar and Wall
Street crash that would make 1929 look like a $50 casino bet."
-
The
greatest financial weapon against the United States is the EURO. It
is the first currency to present a threat against the dollar. The
EURO is a shared currency of 15 European nations centered upon
Germany and France. The economies and populations of the euro
countries are as large as that of the United States, and more
tightly bound to the Middle East. As large as the European Union
appears today, it continues to grow. The United States is
landlocked. The world is suddenly too small for the dollar to grow.
-
Now
that The United States of America has taken both Iraq and
Afghanistan and controls those country's natural resources, the
dollar plans a brighter future, or a stable one at best. Iraq trades
(again) in dollars.
-
Protesters
claimed George W Bush was invading Iraq for oil. That was only
partly true. US-led invasions of Iraq and Afghanistan were for oil,
but not for consumption. Pre-Iraq invasion, Saddam Hussein was
trading in EUROs. Afghanistan is key to piping oil out of the
Caspian Basin.
-
The
United States will flex muscle against any commodity threats against
the petrodollar. The fight for oil is second to religion as the
reason and cause for war throught history, and yet oil itself is a
relatively new commodity to consumers.
-
The
greatest financial weapon against the United States is the EURO. It
is the first currency to present a threat against the dollar. As
large as the European Union appears today, it continues to grow.
Since 1945 the dollar has been the global oil transaction currency.
These dollars are recycled from oil production to the US as Treasury
Bills and assets in US stocks and real estate, which is a
substantial portion of the financial market. The EURO becomes the
alternative currency to nations wishing to switch.
-
The
US either takes over the assets they trade, like Iraq, or convince
the rest of the world to exchange their currency for dollars. The US
is urging Tony Blair not to adopt the EURO for this purpose. The
EURO is new, has little debt. The US dollar has a substantial debt,
but is heavily used. The European Union itself is a larger consumer
of oil than the US.
-
Europol
believes there are groups gearing up to flood the world with their
fake currency products. (A joint
Colombian-US Secret Service raid that recently hauled in a record
$41 million in fake US dollars, already packed for export, rang
alarm bells in Europe and Washington.)
-
The
last big wave of overseas counterfeiting was the high-quality copies
of US $100 bills that flooded several continents in the 1990s,
apparently originating in Iran and North
Korea. These fakes had the dual aim of profit for the
producers and distributors and destabilization of the US economy by
attacking the world's favorite money.
-
More
than $300 million of Palestinian Authority funds were diverted by
Yasser Arafat into a previously undisclosed Swiss bank account and
the money can no longer be traced. The Palestinian Authority is
paying members of the al-Aqsa Martyrs' Brigades, an armed militia
responsible for carrying out suicide attacks against Israelis, up to
$50,000 a month.
-
It
was reported that thousands of Saudi Arabian princes, alone, have
between $500 billion and one trillion dollars in American banks and
government bonds. That's just one family. Imagine if the Arab and
Muslim world would adopt a two-pronged strategy: one
politico-financial, the other cultural. Imagine when Muslim money
and resources will be wielded as financial power.
-
Osama
bin Laden has been able to accumulate millions of dollars using
legitimate businesses such as charities, nongovernmental
organizations, mosques, banks and other financial institutions to
help raise and move their funds. How does it work? Take Saudi Arabia
for example. This Gulf monarchy is a state in which no taxes are
imposed on the population. Instead, Saudis have a religious tax, the
zakat, requiring all Muslims to give at least 2.5 percent of
their income to charities. Many of the charities are truly dedicated
to good causes, but others merely serve as money laundering and
terrorist financing apparatuses. While many Saudis contribute to
those charities in good faith believing their money goes toward good
causes, others know full well the terrorist purposes to which their
money will be funneled.
What makes penetration and control of money transactions in the Arab
world especially difficult is the Hawala system--the unofficial
method of transferring money and one of the key elements in the
financing of global terrorism. The system has been going for
generations and is deeply embedded in the Arab culture. Hawala
transactions are based on trust; they are carried out verbally
leaving no paper trail.
-
Bin
Laden, who in a recent tape, discussed the economic damage to the
United States that he was inflicting.
This got no attention. The expenditure of $300 billion and counting
in Iraq and Afghanistan is not understood in the context of
financial weapons.
-
There
are three forms of jihad the military jihad, the
economic jihad and the cultural
jihad. Finally, Americans should understand that Europe’s
contemporary anti-Americanism is a financial threat of great
importance. The United States merchandise trade deficit
increased from $550 billion in 2003 to more than $650 billion in
2004. This deficit is expected to widen further in 2005. From these
and other facts, Moscow and Beijing anticipate a major market
correction and a crisis. This would be logical for Marxists who
expect a crash of the capitalist system.
-
According
to George Soros, Russia is intentionally switching some of its oil
transactions from U.S. dollars to euros. “The oil-exporting
countries’ central banks have been switching out of dollars mainly
into euros, and Russia … plays an important role in this,” Soros
explained. “The higher the price of oil, the more dollars there
are to be switched to euros…”
-
Our
enemies are aware of our fragile financial situation. They are at
work on the financial weapons. I sense that no one is watching our
financial gates for suicide bombers.
