Wednesday, March 22, 2006
Thanks to reader Byrne for the following link and comments. If you want to know the history of the current situation re: US and Iran, I join in his recommendation that you listen to the audio (mp3) file.
Byrne adds, "I have listened to it and he mentions the Iranian Oil Bourse within his discussion and the associated US military response. Strange though, that Engdahl does NOT mention what happened to the general trend of the Euro vs US Dollar graph after October 2000. The value of 1 Euro then was 85 US cents. The Euro then continued to strengthen (even past March/April 2003 when the US reverted Iraq's oil sales back to the US Dollar), up to a high in March 04 when 1 euro was worth 124 US cents. Part of the reason for the rise was the sluggish US economy and the use (from Jan 2002) of the Euro in circulation.
I found it interesting that he made no reference to this. Engdahl is correct inasmuch as it is the US military might that supports the dollar, as much as it hegemonic power (the two are obviously related). But the buck must stop somewhere.
Watch for China/Russia to stroll in when the US/Dollar is further weakened after the altercation with Iran. We will not get a chance to see if the Iran Bourse would affect the dollar, because the US/ISRAEL WILL make a military strike, I believe. "