The Shareef he don’t like it, crashin’ the casbah!
Shoura Members Want Govt to Halt Stock Crash
Petrodollars worthless? Then try our nukebucks backed by ICBMs!
JEDDAH, 14 March 2006 — Saudi stocks plunged to new lows yesterday, sending shockwaves among investors as Shoura Council members urged intervention
by the Finance Ministry and the governor of the Saudi Arabian Monetary Agency (SAMA) to prevent a market crash.
Muhammad Al-Qunaibet, a Shoura member and deputy chairman of the Committee for Economic and Energy Affairs, asked the council to call Finance Minister
Ibrahim Al-Assaf to explain the worsening stock market situation.
“Such a move is essential to allay fears of the public over the unjustifiable stock market crash,” Al-Qunaibet told a weekly meeting of the
150-member Shoura Council. “What is happening now at the stock market is not a correction but a crash,” he added.Please visit the link provided for the complete story.
back on dollar in foreign reserves shake-up
The United Arab Emirates is planning to switch 10% of its foreign reserves from dollars to euros in the first sign of fall-out from Washington's snub
to Dubai Ports World last week.
Sultan bin Nasser Al Suwaidi, the governor of UAE's central bank, said the plan was designed to achieve a better balance in the $19.1bn reserves of
the oil-rich Gulf federation, almost entirely held in dollars.Please visit the link provided for the complete story.
Arab central banks move assets out of dollar
The empire says,"Give us oil or your head on a skillet!"
Middle Eastern anger over the decision by the US to block a Dubai company from buying five of its ports hit the dollar yesterday as a number of
central banks said they were considering switching reserves into euros.
The governor of the UAE central bank, Sultan Nasser al-Suweidi, said the bank was looking to convert 10 per cent of its reserves, which stand at $23bn
(£13.5bn), from dollars to euros. "They are contravening their own principles," he said. "Investors are going to take this into consideration
[and] will look at investment opportunities through new binoculars."
Syria has switched the state's foreign currency transactions to euros from dollars, the head of the state-owned Commercial Bank of Syria, Duraid
Durgham, said.Please visit the link provided for the complete story.
Iran vows to use its oil as a weapon
TEHRAN -- Iran threatened yesterday to use oil as a weapon if the UN Security Council imposes sanctions over its nuclear program.
Iran is the No. 2 producer in the Organization of Petroleum Exporting Countries and has partial control over the narrow Strait of Hormuz at the mouth
of the Persian Gulf. The strait is an essential passage for crude oil from key producers such as Saudi Arabia, Kuwait, the United Arab Emirates and
Pourmohammadi's statements were the most specific yet -- and the first explicitly targeting oil -- in a series of threats issued by Iranian officials
as the Security Council discusses what action to take over Iran's nuclear program. Washington says Iran wants to produce atomic weapons.Please visit the link provided for the complete story.
Pentagon examining chances of Israeli strike
If you can't join or pillage them, blow them all up!
Last week, former Israeli Chief of Staff Moshe Ya'alon said in Washington that the West does have a military option against Iran and that a joint
US-NATO-Israeli air strike against dozens of nuclear facilities in Iran could set back Teheran's nuclear programs for several years.
The Washington Post reported Monday that the Bush administration has made Iran a top priority issue and that the president and his team had several
meetings on the issue to discuss Iran's nuclear plans.
The Pentagon discussions, according to the sources, did not lead to any conclusion regarding the plausibility of an Israeli attack against Iran, nor
did it recommend any action by the US. Please visit the link provided for the complete story.
The End Of Civilization
I had a mild epiphany the other day: it’s not President Bush who’s living in a fantasy world, it’s most of his critics who are. I’m no
apologist for Bush – I neither like nor dislike him. He’s no more significant to me than a fly buzzing around outside my window. So permit me to
explain my reasoning.
Acquisition of Resources
Without money or credit, government can only continue to exist through force. The United States government is particularly well endowed in this regard
and has demonstrated its willingness to use force to acquire resources, and not as a last resort either.
Iraq’s oil is the first such resource to be acquired by military force. Iran’s oil and natural gas may well be the next. In the long run, the
energy-rich regions of central Asia will also attract the hungry gaze of the U.S. Empire. Of course, other powerful, populous, and hungry countries,
such as China and India, will also have designs on these energy-rich regions, which will probably result in significant wars. Oil from the Middle East
will probably become so valuable that countries will have to provide a military escort for every tanker carrying oil across the ocean.Please visit the link provided for the complete story.
How I learned to stop worrying and love chaos
It is instructive how the bully boys of US punditry whine and cringe before the specter of chaos. In the current Atlantic Monthly, Robert D Kaplan,
who 12 years ago wrote of The Coming Anarchy, now offers a panegyric to a US Army brigade in Mosul titled "The coming normalcy?" - better-armored
vehicles, intelligence delivery and "drinking a lot of chai" with the locals. The classics scholar and military hobbyist Victor Davis Hanson
denounces conservative critics of the Bush administration, insisting that the United States is "close to victory abroad, closer to concession at
home". At The Belmont Club, Wretchard pleads, "Iraq is simply where the West must come to grips with The Coming Anarchy because it cannot step
All of them are deep in denial, or, as the case may be, deep in the Tigris. Like or not, the US will get chaos, and cannot do anything to forestall
it. My advice to President George W Bush: When chaos is inevitable, learn to enjoy it. Take a weekend at Camp David with a case of Jack Daniels and
Dashiell Hammett's Red Harvest (Red harvest in Iraq, January 27, 2004).
A tragedy is unfolding whose final curtain never comes down. Washington must prevent Iran from acquiring nuclear weapons, because the Ahmadinejad
regime wants an oil empire stretching from the southeast shore of the Caspian Sea to the southwest shore of the Persian Gulf (Why the West will attack
Iran, January 24). Reza Pahlavi, son of the late shah, warned of Iran's imperial intentions in a Fox News interview on Saturday. President Mahmud
Ahmadinejad cannot abandon Iran's nuclear ambitions any more than Adolf Hitler could have kept the peace with Poland in 1939 and remain in
power.Please visit the link provided for the complete story.
[edit on 14-3-2006 by Regenmacher]