Saudis drop WTI oil contract, page 2
Pages: <<  1    2    3  >>
ATS Members have flagged this thread 37 times


reply posted on 29-10-2009 @ 09:39 AM by Smutty
Why the Dollar Bubble is about to Burst?
IRAN HAS REALLY DONE IT...more deadlier than the nuclear..

www.thetruthseeker.co.uk...
The Voice (issue 264 -) ran an article beginning, ' Iran has really gone and done it now. No, they haven't sent their first nuclear sub in to the Persian Gulf . They are about to launch something much more deadly -- next week the Iran Bourse will open to trade oil, not n dollars but in Euros' This apparently insignificant event has consequences far greater for the US people, indeed all for us all, than is imaginable.

Currently almost all oil buying and selling is in US-dollars through exchanges in London and New York . It is not accidental they are both US-owned.

The Wall Street crash in 1929 sparked off global depression and World War II. During that war the US supplied provisions and munitions to all its allies, refusing currency and demanding gold payments in exchange..

By 1945, 80% of the world's gold was sitting in US vaults. The dollar became the one undisputed global reserve currency -- it was treated world-wide as `safer than gold'. The Bretton Woods agreement was established.

The US took full advantage over the next decades and printed dollars like there was no tomorrow. The US exported many mountains of dollars, paying for ever-increasing amounts of commodities, tax cuts for the rich, many wars abroad, mercenaries, spies and politicians the world over. You see, this did not affect inflation at home! The US got it all for free! Well, maybe for a forest or two.

CONT...



[mod edit: added source link, Required EX tags and clipped quoted content]
Mod Note: Quoting External Sources – Please Review This Link.

[edit on 29-10-2009 by 12m8keall2c]


reply posted on 29-10-2009 @ 09:40 AM by Smutty



reply posted on 29-10-2009 @ 09:49 AM by pizzaguy
reply to post by SpacePunk




Unfortuneately that would probably work for a time. Just don't think anyone in the political arena would do it. Political/corporate alliances overseas would prevent it.


Pg


reply posted on 29-10-2009 @ 10:19 AM by mrpotatohead




Excellent post. I find your reasoning on the spot. I have read, and heard that the US oil companies have mucho reserves, and use them as an ace in the whole. That way, they can manipulate the price of crude as they see fit. I have also heard that the reason the price of crude has stayed where it has, is that the lower market price ruins the Saudi's , who nedd $100 a barrel plus to finance their empire.

look at what happened to Dubai. It's a bankrupt country full of empty shopping malls. They too needed the $100 a barrel plus oil.
Our oil barrons manipulate the price of crude as they see fit. We are just the unluckey recipients of that price control. But, I'm mistaken in saying luck has anything to do with any of it. Everything is controlled and manipulated. We just live with the results.

Also, in my opinion, don't think the US wouldn't send troops into Saudia Arabia immediately if they threated the suppy in any way. I feel like the US oil execs think they own that oil, but it just happens to be in another country. A small detail. The oil companies are part of the PTB, the elite, whatever you want to call them. They are calling the shots in the government, not the president. Why do you think we still have troops in the mid east fighting well armed camel jockeys? The government doesn't give a crap about or troops lives'. They just want to control the oil. There is no other logical reason. Can you think of anything other than oil of any value there? The armed insurgents are a major nuisance in every theater of operation. They must be dealt with to protect the oil, at any cost.

So , we arrive at our present situation, wasting countless lives to protect the oil. I'm not going to argue politics on this one. people will believe what they want. I just hate to see our guys dying for a bunch of ignorant armed terrorists, who hate us just as much as we do them, and we operate under the guise of nation building, and winning over the hearts and minds of the people. Please, does anyone believe that drivel??


reply posted on 29-10-2009 @ 11:04 AM by TheRedneck
The following is my opinion as a member participating in this discussion.

reply to
post by mrpotatohead

Exactly!

It's a chess game. In chess, the best offense is to move your pieces stealthily to set up unnoticed for a debilitating attack on your opponent. There is usually one move in that strategy that alerts your opponent to your plans, hopefully too late to avoid it. This is that move.

The Saudis have traditionally been the one country in the Middle East that was always on our 'side' in this struggle for dollar-dependent oil. Iran, Iraq, Syria, were always struggling to depeg from the American stranglehold they saw the original agreement as being. Saudi, not so much. The people may be as rabid in their beliefs that we are 'The Great Satan', but the rulers are not.

That's what is setting this move apart from the ongoing problems, in my mind. If our best 'friends' are turning away, then what do we have left?

I will take exception with one point you make: the wars are not for oil, but for something much greater: the dollar, the very basis of our economy. Oil is simply the only standard that is keeping the dollar from being green toilet paper... and our 'leaders' know that fact all too well.

TheRedneck

As an ATS Staff Member, I will not moderate in threads such as this where I have participated as a member.



reply posted on 29-10-2009 @ 11:14 AM by Rockpuck
reply to post by TheRedneck



Oil fluctuates on the Dollar, for a long time it didn't really matter, the USA had an extreme control over the entire region...

Then came the Dotcom Bust .. not soon after the arrival of...

The Euro

Now America has a much weaker control over the region, some of the states moving against the Dollar (iraq) which could easily be disposed of. Still the price skyrockets as the dollar collapsed from 1999-2008.

Now the Dollar is collapsing again, yesterday it hit a 14 month low, we are now near the lowest point of the Dollar, ever.. and oil isn't at $150/b .. why? Because the us is leaning on finance institutions to NOT speculate oil, any further deflation of the consumer's financial base will be the death blow to the economy..

So Saudi lifts the benchmark, allowing them to in a sense set their own prices..

The benchmark through speculation raises prices, but speculation has been left out to dry by the mega bank corps (per governments request no doubt.. piss off the people to much to fast, they'll turn on you in an instant) .. so to drop the benchmark, the single largest speculated contract, saudis are now in a position to artificially raise their own prices in accordance with a weaker dollar..

It will be interesting to see how the dollar continues to react..



reply posted on 29-10-2009 @ 11:31 AM by TypeSH2001
Originally posted by praxis
Originally posted by TeddiRevolution

Your little spiel had nothing to do with what he said. They can charge us more now, that's it. Take your sensationalism somewhere else.

Also, don't generalize the citizens of this country, just because you live here doesn't mean you speak for "we". I sure as Hell am no junkie pig who gets off on war, speak for yourself next time.


If you support the government's program of Perpetual War For Perpetual Peace, you are part of the problem. If you are not in the streets protesting or on the 'net protesting, you support this policy by your failure to act.

We have not had a legitimate government for a very long time.


I generally agree. Peaceful protest en masse which is something the Europeans do well and it's the smartest response to gov't and corporate greed and corruption that negatively affects their peoples. Why the American people as a whole don't have the guts to do this puzzles me. It just gives the gov't and corporations more incentive to loot the country for themselves while most standby and watch it all go down the drain.


Originally posted by SpacePunk
The way that I see it, the world can do what it wants. All the United States has to do is recall it's troops, shut down it's overseas bases, and end all foreign aid. Ending foreign aid would teach the world who really runs the show, and recalling all forces stationed elsewhere would let them know that they are on their own. Further actions would be to send all h1b visa workers directly to their home countries.


It would solve some problems and create others but it would be interesting to see what happens afterwards...in a cautiously optimistic way!


reply posted on 29-10-2009 @ 11:38 AM by TheRedneck
The following is my opinion as a member participating in this discussion.

reply to
post by Rockpuck

Great points!

Because the us is leaning on finance institutions to NOT speculate oil, any further deflation of the consumer's financial base will be the death blow to the economy..

...which could explain Obama's recent announcement putting caps on bank executive pay. A shot across the bow?

...saudis are now in a position to artificially raise their own prices in accordance with a weaker dollar..

Which is why I said this will result in a complete depegging of the dollar form Saudi oil. They already are hedging against future devaluation of the dollar via this move, so should the dollar drop too far (as seems likely the way the present Administration is writing checks), it would seem logical they would follow the lead of Iran.

As I mentioned, I am still trying to sort out the implications and connections with this move. So forgive me if my logic seems to skip a step here and there.

It will be interesting to see how the dollar continues to react..

Indeed it will!

TheRedneck

As an ATS Staff Member, I will not moderate in threads such as this where I have participated as a member.



reply posted on 29-10-2009 @ 12:21 PM by dimensionaljumper
reply to post by iggster



The report just came out that the GDP rose by 3.5% in the 3rd quarter.

The strong GDP report weakened demand for safe-havens like Treasurys, and a drop in the dollar pushed commodity prices higher, helping to lift materials and energy stocks.

[edit on 29-10-2009 by dimensionaljumper]


reply posted on 29-10-2009 @ 12:32 PM by WoodEye
Iran opens exchange to trade oil, products-ISNA

Iran officially OPENED it's awaited Oil Bourse this week!

I can't believe this is not yet been posted here on ATS but from what I have been following this news is significant...


reply posted on 29-10-2009 @ 12:44 PM by Rockpuck
reply to post by TheRedneck




Which is why I said this will result in a complete depegging of the dollar form Saudi oil.


I don't think so.. I think it's just a way to milk the Americans for every penny they got. I sort of *** you America. Kicking the beastie while it's down so to speak.

There is nothing we can do about it.

The price of oil will continue to rise. Saudi Arabia had said last year they wanted no less than $100/b for their oil, which is amazing considering when I started driving (and im only 23) oil was $20/b on a bad day.


As I mentioned, I am still trying to sort out the implications and connections with this move.


The way I see it America is on it's knees clutching it's gut from the economic crash that brought us down a peg. Saudi Arabia just walked by and sucker punched us and stole our wallet.

reply to post by iggster



US GDP grew at 3.5%, thus speculators bought oil thinking demand will raise prices, yadda yadda, the usual spewing of garbage. Ironic how GDP grew while Retailing plummets.. wonder what we were producing.. oh that's right, it was the Banks making billions from the stock market that they themselves inflated with our money.. they represented 41% of ALL profits. Somehow, I don't think that's going to be making people drive more..



reply posted on 29-10-2009 @ 12:59 PM by badkarma90
Originally posted by Zosynspiracy
reply to
post by Rockpuck




Well you sir can send your sons and daughters off to die for such a stupid justification. I refuse. I mean my god........the sad thing is there are other Americans sharing your same twisted argument of dollar hegemony. Pathetic. A country doesn't survive by killing people who don't want to play their game..........they survive by taking care of their own, innovating, adapting, living within their means i.e. DISCIPLINE! America has lost all discipline..........we have turned into 'junkies' and gluttonous pigs.


Well said... I blame the school system. Ever since the disgusting "No Child Left Behind" crap, kids have been learning even less. I was in middle school when it was signed, and GODDAMN it if half the time after that we weren't 'prepping' for some bs test that the school needed for better funding. I literally felt myself get stupider throughout high school. It just got depressing.

These people won't know what hit em.

Edit: T&C violation removed.

[edit on 30-10-2009 by intrepid]


reply posted on 29-10-2009 @ 01:00 PM by CoffinFeeder
Originally posted by Zosynspiracy
reply to
post by TeddiRevolution



I'm sure you live in excess like most gluttonous junkie pigs thirsty for their Ipods, Monday night football and latest and greatest gadgets and widgets no? Most Americans do........I am guilty of it myself and so are you. At least I have the balls to realize it and admit it. Will you?


we all do, we just don't feel a need to apologize to the rest of the people out there for doing well. Now, we just have to work on that whole white guilt thing, and we'd be good.
Pages: <<  1    2    3  >>    ^^TOP^^



USDA Forces Whole Foods To Accept Monsanto
  Posted 9 days ago with 99 member flags
Greece wipes out Citizens Debt!! Tells Bankers to suck it
  Posted 10 days ago with 78 member flags
The Collapse of The American Dream Explained in Animation
  Posted 17 days ago with 53 member flags
Obama on the verge of a deal with the banks
  Posted 15 days ago with 23 member flags
EU financial dictatorship agreed to by EU ministers last night
  Posted 17 days ago with 17 member flags
Bankers requesting that Greece become their debt slaves
  Posted 14 days ago with 15 member flags