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U.S. President George W. Bush, whose father had close ties with Fahd, will send Vice President Dick Cheney and other officials to offer condolences. Former president George Bush sent half a million U.S. troops to Saudi Arabia in 1990 to launch the recapture of Kuwait from Saddam Hussein.
I personally cannot believe that oil will be found in his reign [that of King ibn-Saud, then coinciding with the most oil-rich region in Saudi Arabia]. As far as I know, there are no superficial oil-shows, and the geological formation does not appear to be particularly favourable from what little we know of it; but in any case no company can afford to put down wells into a formation in these parts (however favourable) unless there is some superficial indication of oil.
Source: www.thefreelibrary.co... m...
Petrov, Engdahl, and other analysts point out that in 2000, Saddam Hussein began to demand euros, rather than dollars, for his oil exports; once Saddam was deposed, Iraq's oil exports were once again sold in dollars.
Iran's President Mahmoud Ahmadinejad ordered in September 2009 the replacement of the US dollar by the euro in the country's foreign exchange accounts.
Earlier, the Islamic Republic of Iran had announced that the euro would replace the greenback in the country's oil transactions.
THE BUSINESS PLOT TO OVERTHROW ROOSEVELT
In the summer of 1933, shortly after Roosevelt's "First 100 Days," America's richest businessmen were in a panic. It was clear that Roosevelt intended to conduct a massive redistribution of wealth from the rich to the poor. Roosevelt had to be stopped at all costs.
The answer was a military coup. It was to be secretly financed and organized by leading officers of the Morgan and Du Pont empires. This included some of America's richest and most famous names of the time:
* Irenee Du Pont - Right-wing chemical industrialist and founder of the American Liberty League, the organization assigned to execute the plot.
* Grayson Murphy - Director of Goodyear, Bethlehem Steel and a group of J.P. Morgan banks.
* William Doyle - Former state commander of the American Legion and a central plotter of the coup.
* John Davis - Former Democratic presidential candidate and a senior attorney for J.P. Morgan.
* Al Smith - Roosevelt's bitter political foe from New York. Smith was a former governor of New York and a codirector of the American Liberty League.
* John J. Raskob - A high-ranking Du Pont officer and a former chairman of the Democratic Party. In later decades, Raskob would become a "Knight of Malta," a Roman Catholic Religious Order with a high percentage of CIA spies, including CIA Directors William Casey, William Colby and John McCone.
* Robert Clark - One of Wall Street's richest bankers and stockbrokers.
* Gerald MacGuire - Bond salesman for Clark, and a former commander of the Connecticut American Legion. MacGuire was the key recruiter to General Butler.
Researchers at the Political Economy Research Institute of the University of Massachusetts Amherst ranked DuPont as the largest corporate producer of air pollution in the United States.
The company grew quickly, and by the mid 19th century had become the largest supplier of gunpowder to the United States military, supplying as much as half of the powder used by the Union Army during the American Civil War.
Threads that go into a lot of detail, and contain a lot of hard work and research don't seem to be that popular anymore when they contain factual information...
GOLD STANDARD - a best practice methodology and a high quality carbon credit label for both Kyoto and voluntary markets
The Gold Standard Foundation is a non-profit organization under Swiss law that operates a certification scheme for premium carbon credits.
Gold Standard credits (GS-CER and GS-VER) are offered for sale in compliance offset markets established by the Kyoto Protocol and in non-Kyoto voluntary offset markets. The Foundation has trademarked the Gold Standard label, which is today internationally-recognised as the leading indicator of quality in carbon markets.
The implementation is underway, with the introduction of the concept of 'carbon credits'.
Originally posted by TheRedneck
reply to post by Chevalerous
At the present time, you are correct; carbon credits are bought in the currency of the nation issuing them. However, this is because so far the carbon trading has not been global in nature. If it is instituted as a global requirement (which is the goal of conferences like the recent one in Copenhagen), then it would make sense that the value would need to be set in a single currency.
It is even possible that this standard currency could be in Euros, for instance. The only difference between the Euro and the dollar is the country (or group of countries) that issues them. As long as there is a single currency that the elite can use for their control, all would go well for them. The dollar is just the historically preferred currency in that respect, primarily because the Federal Reserve operates to maintain the dollar's integrity.
IMF Prepares for Financial Meltdown
The IMF has been making a lot of noise recently, but their biggest move almost managed to slip through completely unnoticed.
The Executive Board of the International Monetary Fund (IMF) today approved a ten-fold expansion of the Fund's New Arrangements to Borrow (NAB, and transfer the Fund's premier standing credit arrangement into a more flexible and effective tool of crisis management. The NAB will be increased by SDR 333.5 billion (about US$500 billion) to SDR 367.5 billion (about US$550 billion), representing a major increase in the resources available for the Fund's lending to its members.
This IMF program didn't even exist until a year ago, when the IMF began issuing SDRs for the first time since the 1970's. The IMF has only sold SDRs in times of global financial stress.
It makes a person wonder "Why now?" Why is the IMF suddenly tripling its lending facilities? What do they know that we don't?
To answer that, let's look at the announcements of the past few weeks.
The IMF has been busy issuing warnings over the past couple weeks. If this massive expansion of lending resources is a direct reaction to their recent statements, then we are looking at a severe financial shock in the near future.
That's where the SDR comes it. They simply swap out their dollar-based debt for SDRs.
It should be noted that SDR is merely a ledger entry. Its is a composite of major reserve currencies, rather than a new currency by itself, but it does help diversify.
The reason for the IMF rolling this out now might be two-fold:
1) an approaching financial crisis that the IMF needs to build up its reserves to prepare for, and
b) the demands of Asian creditors to diversify their holdings in order to help avoid the impact of that coming financial crisis.
The US dollar is about to be replaced by the Amero at a rate of two dollars to one Amero, according to a high level financial source in Switzerland. The Amero will replace the US and Canadian dollars and the Mexican peso, he says. It will be backed by Mexican and Canadian gold, the source adds.
The Western government does not want to cede control of its financial system to China so a decision was made to go with the gold-backed Amero, he says.
The value of the SDR was initially defined as equivalent to 0.888671 grams of fine gold—which, at the time, was also equivalent to one U.S. dollar. After the collapse of the Bretton Woods system in 1973, however, the SDR was redefined as a basket of currencies, today consisting of the euro, Japanese yen, pound sterling, and U.S. dollar. The U.S. dollar-value of the SDR is posted daily on the IMF's website. It is calculated as the sum of specific amounts of the four currencies valued in U.S. dollars, on the basis of exchange rates quoted at noon each day in the London market.
The SDR is neither a currency, nor a claim on the IMF. Rather, it is a potential claim on the freely usable currencies of IMF members. Holders of SDRs can obtain these currencies in exchange for their SDRs in two ways: first, through the arrangement of voluntary exchanges between members; and second, by the IMF designating members with strong external positions to purchase SDRs from members with weak external positions. In addition to its role as a supplementary reserve asset, the SDR, serves as the unit of account of the IMF and some other international organizations.
I have been told by gold investors that the Amero is a multi-fold arrangement.