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... members of the Gulf Cooperation Council (GCC) ...
Bahrain, Kuwait, Qatar, Saudi Arabia and the UAE, propose to adopt a monetary union and single currency by 2010 (like the euro).
The geographical location for Iran's new oil stock exchange (aka 'bourse') is expected to be in the Persian Gulf Island of Kish, which is a free trade zone.
--this is continued (below)
the Saudis and Co. have watched nervously while the Federal Reserve has slashed rates by a whopping 125 basis points. The cuts are steadily eroding the $1 trillion of capital the sheiks have invested in US Treasuries and securities.
Last May [2007], Kuwait ended the dominance of the dollar and adopted a basket of currencies, triggering rumours that the UAE and Qatar would follow suit. In December 2007, the GCC, barring Kuwait, agreed to continue to peg their currencies to the American dollar, but experts expect this to change as the dollar continues to slide. Certainly, by 2010, they will go for the
new GCC currency.
Saddam Hussain’s decision to switch from dollars to euros for the purchase of Iraqi oil was the principal factor behind the invasion of Iraq.
It is equally certain that if Iran manages to open its own Oil Bourse, the GCC will trade there on account of geographic proximity.The three [sabotaged] damaged [Internet] undersea cables in the Persian Gulf are an ex-pression of anger and frustration at the inevitability of this development. For Iran, there is an additional message that its nuclear programme is riling the falling superpower [U.S. petro-dollar].
This will make Iran the main hub for oil deals in the Middle East.
The Iranian Oil Bourse will hasten the speed with which major oil countries dump the dollar for the euro; thus hastening the collapse of the US economy. It is pertinent that public opinion in America and other western nations is still ignorant that Saddam Hussain’s decision to switch from dollars to euros for the purchase of Iraqi oil was the principal factor behind the invasion of Iraq. This could have encouraged other OPEC nations, besides Nigeria, Mexico, Venezuela, to follow, and thus endangered US economy.
Despite the invasion of Iraq and the possible threat to Iran, the US monopoly over the oil trade is now in peril. Hitherto, oil has been valued in dollars and mainly traded on the New York Mercantile Exchange or London’s International Petroleum Exchange, both of which are owned by American corporates. This, and this compulsion allowed the US to build a debt of over eight trillion dollars. Once the euro emerges as the principal oil currency, the dollar will plummet in value, sinking the American and British economies. Political observers fear a knee-jerk reaction from Washington.
monopoly compelled national [central] banks the world over to buy dollars
The petrodollar system is no different than the gold standard. Today’s currency is simply underwritten by the one vital source of energy upon which every industrialized society depends—oil.and the US will be forced to reduce its massive trade deficits, rebuild its manufacturing capacity, and become an export nation again.
If the dollar is de-linked from oil; it will no longer serve as the de-facto international currency
The only alternative is to create a network of client regimes who repress the collective aspirations of their people so they can faithfully follow directives from Washington.
Iran switched from the dollar in 2007 and has insisted that Japan pay its enormous energy bills in yen. The “conversion” infuriated the Bush administration and has moved Iran to the top of the White House’s target list. In fact, even though 16 US Intelligence agencies issued a report (NIE) saying that Iran was not developing nuclear weapons; and even though the UN’s nuclear watchdog, the IAEA, found that Iran was in compliance with its obligations under the Nuclear Nonproliferation (NPT) Treaty; a preemptive US-led attack on Iran still appears likely.
the Saudis and Co. have watched nervously while the Federal Reserve has slashed rates by a whopping 125 basis points. The cuts are steadily eroding the $1 trillion of capital the sheiks have invested in US Treasuries and securities.
“Inflation is at 16-year highs in Saudi Arabia and Oman, a 19-year peak in the United Arab Emirates. Gulf policymakers are intervening directly in loans, property and commodity markets to offset rate cut.” (Reuters)
Property values have skyrocketed. Commercial property in the UAE has doubled since the beginning of 2007. The inflation-bomb has forced other Gulf states to provide food subsidies for their people and a “70% wage rise for some Emirati federal government employees.”
Disgruntled migrant workers rioted in Dubai recently, demanding to be fairly compensated for the sharp increase in prices. The Saudi riyal has climbed to a 21-year peak.
Currency traders expect another 8% rise in the dirham and riyal by April and they are predicting that interest rates will compel Central bankers throughout Gulf states to covert to either the euro or a basket of regional currencies. So far, however, the loyal Saudi princes have continued their support for the dollar.
three of the main underwater cables which carry Internet traffic to the region [were] cut in the Persian Gulf. As a result, three-quarters of the international communications between Europe and the Middle East [were] lost. Large parts of the Middle East [were] plunged into darkness.
Is this merely a coincidence or is it part of a broader military operation?
Ian Brockwell, of the American Chronicle said:"On the assumption that the cables cut were no accident, we must ask ourselves who would do such a thing and why. Clearly Iran, who were most affected, would gain nothing from such an action and are perhaps the target of those responsible?…Maybe this is a prelude to an attack, or perhaps a test run for a future one?"
Communication has always been an important factor in military action, and cutting these cables might affect Iran´s ability to defend itself.
Iran has been planning to open a commodity exchange, variously referred to as the Iran Petroleum Exchange (IPE), International Oil Bourse or Iranian Oil Bourse (IOB), since the past six years.
Whatever the term implies the bourse will trade in petroleum, petrochemicals and gas in various non-dollar currencies, primarily the euro.
However if successful, the bourse could establish a euro-based pricing mechanism for oil trading or oil marker as dubbed by traders, reported ISNA.
The geographical location is expected to be in the Persian Gulf Island of Kish, which is a free trade zone.
Background
The three current oil markers are US dollar denominated: North America’s West Texas Intermediate crude (WTI), North Sea Brent Crude, and UAE Dubai Crude.
Interestingly, the idea behind
opening this bourse in Iran far preceded the measures taken by the United Arab Emirates to open its own UAE Dubai Crude!
However, New York Mercantile Exchange (NYMEX) in New York City and the London based International Petroleum Exchange (IPE) are still the two major oil bourses.
The proposed Iranian Oil Bourse would make it the fourth oil exchange, denominated by euro.
Originally posted by Cyberbian The article is a great find though, it ties the cable cuts to the effort to undermine the dollar / oil relationship.
counterterrorist: thank you.
Cyberbian: I don't see how you implicate the Saudi's in this. If the US were to pull out of Iraq, the Saudi's would almost immediately come under a state of siege.
CT: The Saudi's are co-owned by the Fed and City of London. They are included in the NWO. Saudi Arabia is their pawn and is expendible. As soon as the Saudi's, such as bin Laden, get too hot to handle, they're goners.
Cyberbian
A large portion of the first Gulf War was financed by the Saudi's. The US saved them and Kuwait.
CT: The NWO saved them, not the U.S. The elite in the U.S. are in the NWO and they control the U.S. foreign policy and national security so that it profits the Fed and City of London to the disadvantage of the American people.
>>>>If you read Antony Sutton's free online books, you'll see the NWO has financed both sides of every major conflict, including financing the Bolshevik revolution and the communist Soviet Union and Nazi Germany and communist China -- all at the same time. The City of London and Fed finance al Queda and the rest of the Muslim Brotherhood, just as they financed soviet russian and nazi germany at the same time ... please watch the videos below, before responding.
Skull & Bones armed al Qaeda, Viet Cong, USSR & Hitler; Bush & Hitler joined Skull & Bones
www.abovetopsecret.com...
Professor Antony Sutton: Wall Street & rise of Hitler talks about Wall Street supplying financing, arms & technology to USSR for Vietcong to use against U.S.A. troops; as well as U.S.A. supplying nuclear & missile technology to USS.R. during Cold War.
www.youtube.com...
Premium ATS: Skull & Bones armed al Qaeda, Viet Cong, USSR & Hitler; Bush & Hitler joined Skull & Bones
www.abovetopsecret.com...
Professor Antony Sutton: Wall Street & rise of Hitler 4 talks about Wall Street supplying financing, arms & technology to USSR for Vietcong to use against U.S.A. troops; as well as U.S.A. supplying nuclear & missile technology to USS.R. during Cold War.
www.youtube.com...
remember: Antony Sutton broke these stories & as result feared for his life & went into hiding for many years. Knowledge we take for granted first put out by brave men risking their lives for our freedom, education & survival. Sutton was one of the first outspoken enemies of O & WO & NWO. He named names. He died about 5 years ago.
Professor Antony Sutton: Wall Street & rise of Hitler 5 talks about Tri-Lateral Commission & Council on Foreign Relations as both being Rockefeller's.
www.youtube.com...
Prescott Bush & Adolph Hitler both joined Skull & Bones. Bush joined U.S.A. chapter in 1917 & Hitler joined German chapter in 1919.
see,
www.abovetopsecret.com...
G. W. Bush’s granddad, Prescott Bush joined Skull & Bones in 1917. Two years later, Adolph Hitler joined German Skull & Bones in Germany.
The full name: The Skull & Bones Order Of The Brotherhood Of Death
Professor Sutton on Skull & Bones secret society 3
www.youtube.com...
& Wall Street financing & supplying technology to Hitler.
Professor Antony Sutton: Wall Street & rise of Hitler 1 talks about Wall Street financing & supplying technology to Hitler & to USSR communists, from day 1.
www.youtube.com...
Professor Sutton on Skull & Bones secret society 1
www.youtube.com...
Professor Antony Sutton: Wall Street & rise of Hitler 2
www.youtube.com...
Professor Sutton on Skull & Bones secret society 2
www.youtube.com...
Professor Antony Sutton: Wall Street & rise of Hitler 3
www.youtube.com...
Originally posted by Amaterasu
Awesome research.
Originally posted by OhZone
It isn't a Saudi plot.
1822 [3] The Secret Treaty of Verona was signed 100 years before the Nazi party was formed. www.abovetopsecret.com... The treaty was signed by 22nd November, 1822. for Austria: METTERNICH, for France: CHATEAUBRIAND, for Prussia: BERNSTET, for Russia: NESSELRODE – and
guarantees these countries will
maintain their monarchies and destroy representative government and destroy freedom of the press and reinforce religion
in making sheeple.
All major British banks have their main offices in this “Square Mile” -- as well as 70 U.S. banks. Throw in the London Stock Exchange, Lloyd's of London, the Baltic Exchange (shipping), Fleet Street (publishing and newspapers), the London Commodity and Metal exchanges - and you are looking at Earth's financial axis.
[Descent into Slavery) …The City operates as a sovereign state, just like the Vatican. Since 1820, the Rothschilds have traditionally chosen The City's Lord Mayor. Back in the USA, as author Eric Phelps explained in an interview just before publication of his secrecy-shredding Vatican Assassins, (which was held up to include corrections by sympathetic Jesuits)
Originally posted by Cyberbian
I don't see how you implicate the Saudi's in this.
Originally posted by Cyberbian
I don't see how you implicate the Saudi's in this.
the CNWO, that is, the entry of China, Russia, India & the -stan countries, formally into the NWO.