Saturday, 25 October 2008

The New AMERO Currency



A very interesting video. For more on what the speaker, Hal Turner thinks, you can go read what he believes is going to happen within the next year by clinking this link.

Below is an article that I had emailed to me. Sorry I do not have the link. Bolding and italics are mine.

Why the Dollar Bubble is about to Burst?


IRAN HAS REALLY DONE IT...more deadlier than the nuclear..

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 in 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 Breton 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.

Over subsequent decades the world's vaults bulged at the seams and more and more vaults were built, just for US dollars. Each year, the US spends many more dollars abroad that at home. Analysts pretty much agree that outside the US , of the savings, or reserves, of all other countries, in gold and all currencies -- that a massive 66% of this total wealth is in US dollars!

In 1971 several countries simultaneously tried to sell a small portion of their dollars to the US for gold. Krassimir Petrov, (Ph. D. in Economics at Ohio University ) recently wrote, 'The US Government defaulted on its payment on August 15, 1971 . While popular spin told the story of `severing the link between the dollar and gold', in reality the denial to pay back in gold was an act of bankruptcy by the US Government.' The 1945 Breton Woods agreement was unilaterally smashed.

The dollar and US economy were on a precipice resembling Germany in 1929.
The US now had to find a way for the rest of the world to believe and have faith in the paper dollar. The solution was in oil, in the petrodollar. The US viciously bullied first Saudi Arabia and then OPEC to sell oil for dollars only -- it worked, the dollar was saved. Now countries had to keep dollars to buy much needed oil. And the US could buy oil all over the world, free of charge. What a Houdini for the US ! Oil replaced gold as the new foundation to stop the paper dollar sinking.

Since 1971, the US printed even more mountains of dollars to spend abroad.
The trade deficit grew and grew. The US sucked-in much of the world's products for next to nothing. More vaults were built.

Expert, Cóilínn Nunan, wrote in 2003, 'The dollar is the de facto world reserve currency: the US currency accounts for approximately two thirds of all official exchange reserves. More than four-fifths of all foreign exchange transactions and half of all world exports are denominated in dollars. In addition, all IMF loans are denominated in dollars.'

Dr Bulent Gukay of Keele University recently wrote, 'This system of the US dollar acting as global reserve currency in oil trade keeps the demand for the dollar `artificially' high. This enables the US to carry out printing dollars at the price of next to nothing to fund increased military spending and consumer spending on imports. There is no theoretical limit to the amount of dollars that can be printed. As long as the US has no serious challengers, and the other states have confidence in the US dollar, the system functions.'

Until recently, the US-dollar has been safe. However, since 1990 Western Europe has been busy growing, swallowing up central and Eastern Europe .
French and German bosses were jealous of the US ability to buy goods and people the world over for nothing. They wanted a slice of the free cake too.
Further, they now had the power and established the euro in late 1999 against massive US-inspired opposition across Europe , especially from Britain - paid for in dollars of course. But the euro succeeded.

Only months after the euro-launch, Saddam's Iraq announced it was switching from selling oil in dollars only, to euros only -- breaking the OPEC agreement.. Iran , Russia , Venezuela , Libya , all began talking openly of switching too -- were the floodgates about to be opened?

Then aero planes flew into the twin-towers in September 2001. Was this another Houdini chance to save the US (petro) dollar and the biggest financial/economic crash in history? War preparations began in the US But first war-fever had to be created -- and truth was the first casualty. Other oil producing countries watched-on. In 2000 Iraq began selling oil in euros.
In 2002, Iraq changed all their petro-dollars in their vaults into euros. A few months later, the US began their invasion of Iraq .

The whole world was watching: very few aware that the US was engaging in the first oil currency, or petro-dollar war. After the invasion of Iraq in March 2003, remember, the US secured oil areas first. Their first sales in August were, of course, in dollars, again. The only government building in Baghdad not bombed was the Oil Ministry! It does not matter how many people are murdered -- for the US , the petro-dollar must be saved as the only way to buy and sell oil - otherwise the US economy will crash, and much more besides.

In early 2003, Hugo Chavez, President of Venezuela talked openly of selling half of its oil in euros (the other half is bought by the US ). On 12 April 2003, the US-supported business leaders and some generals in Venezuela kidnapped Chavez and attempted a coup. The masses rose against this and the Army followed suit. The coup failed. This was bad for the US .

In November 2000 the euro/dollar was at $0.82 dollars, its lowest ever, and still diving, but when Iraq started selling oil in euros, the euro dive was halted. In April 2002 senior OPEC reps talked about trading in euros and the euro shot up. In June 2003 the US occupiers of Iraq switched trading back to dollars and the euro fell against the dollar again. In August 2003 Iran starts to sell oil in euros to some European countries and the euro rises sharply. In the winter of 2003-4 Russian and OPEC politicians talked seriously of switching oil/gas sales to the euro and the euro rose. In February 2004 OPEC met and made no decision to turn to the euro -- and yes, the euro fell against the dollar. In June 2004 Iran announced it would build an oil bourse to rival London and New York , and again, the euro rose. The euro stands at $1.27 and has been climbing of late.

But matters this month became far, far worse for the US dollar. On 5th May Iran registered its own Oil Bourse, the IOB. Not only are they now selling oil in euros from abroad -- they have established an actual Oil Bourse, a global trading centre for all countries to buy and sell their oil!

In Chavez's recent visit to London ; he talked openly about supporting the Iranian Oil Bourse, and selling oil in euros. When asked in London about the new arms embargo imposed by the US against Venezuela , Chavez prophetically dismissed the US as 'a paper tiger'.

Currently, almost all the world's oil is sold on either the NYMEX, New York Mercantile Exchange, or the IPE, London's International Petroleum Exchange.
Both are owned by US citizens and both sell and buy only in US dollars. The success of the Iran Oil Bourse makes sense to Europe , which buys 70% of Iran 's oil. It makes sense for Russia , which sells 66% of its oil to Europe . But worse for the US , China and India have already stated they are very interested in the new Iranian Oil Bourse.

If there is a tactical-nuclear strike on - deja-vu - `weapons of mass destruction' in Iran , who would bet against a certain Oil Exchange and more, being bombed too?

And worse for Bush. It makes sense for Europe , China , India and Japan-- as well as all the other countries mentioned above -- to buy and sell oil in Euro's. They will certainly have to stock-up on euros now, and they will sell dollars to do so. The euro is far more stable than the debt-ridden dollar. The IMF has recently highlighted US economic difficulties and the trade deficit strangling the US-- there is no way out.

The problem for so many countries now is how to get rid of their vaults full of dollars, before it crashes? And the US has bullied so many countries for so many decades around the world, that many will see a chance to kick the bully back. The US cannot accept even 5% of the world's dollars -- it would crash the US economy dragging much of the world with it, especially Britain .

To survive, as the Scottish Socialist Voice article stated, 'the US , needs to generate a trade surplus to get out of this one. Problem is it can't.'

This is spot on. To do that they must force US workers into near slavery, to get paid less than Chinese or Indian workers. We all know that this will not happen.

What will happen in the US ? Chaos for sure. Maybe a workers revolution, but looking at the situation as it is now, it is more likely to be a re-run of Germany post-1929, and some form of extreme-right mass movement will emerge...

Does Europe and China/Asia have the economic independence and strength to stop the whole world's economies collapsing with the US ? Their vaults are full to the brim with dollars.

The US has to find a way to pay for its dollar-imperialist exploitation of the world since 1945.. Somehow, eventually, it has to account for every dollar in every vault in the world.

Bombing Iran could backfire tremendously. It would bring Iran openly into the war in Iraq , behind the Shiite majority. The US cannot cope even now with the much smaller Iraqi insurgency. Perhaps the US will feed into the Sunni v Shiite conflict and turn it into a wider Middle-East civil-war.
However, this is so dangerous for global oil supplies. Further, they know that this would be temporary, as some country somewhere else, will establish a euro-oil-exchange, perhaps in Brussels .

There is one `solution' -- scrap the dollar and print a whole new currency for the US . This will destroy 66% of the rest of the world's savings/reserves in one swoop. Imagine the implications? Such are the desperate things now swimming around heads in the White House, Wall Street and Pentagon.

Another is to do as Germany did, just before invading Poland in 1938. The Nazis filmed a mock Polish Army attack on Germany , to win hearts and minds at home. But again, this is a finger in the dam. So, how is the US going to escape this time? The only global arena of total superiority left is military. Who knows what horrors lie ahead. A new world war is one tool by which the US could discipline its `allies' into keeping the dollar in their vaults.

The task of socialists today is to explain to as many as possible, especially our class, that the coming crisis belongs purely to capitalism and (dollar) imperialism. Not people of other cultures, not Islam, not the axis of evil or their so-called WMDs. Their system alone is to blame.

The new Iranian Oil Bourse, the IOB, is situated in a new building on the free-trade-zone island of Kish , in the Persian Gulf . It's computers and software are all set to go. The IOB was supposed to be up and running last March, but many pressures forced a postponement. Where the pressure came from is obvious. It was internationally registered on 5th May and supposed to open mid-May, but its opening was put off, some saying the oil-mafia was involved, along with much international pressure. ............ ......... ......

In 2007 Crude was traded around 60 usd. Everyone know dollar was getting weaker and weaker day by day. Then US with the help of their two NYMEX & IPE exchange started raising the price of crude by Future trading on crude( called speculation) . Today crude is around 140 usd. It means whole world who were paying 60 usd, now paying 140 usd, means demand of dollar increase to 230% and dollar start again rising.

Even OPEC recently that in hike og crude, 60% contribution is due to speculation (Future market).

Moral of story is USA has & will go to destroy any nation to keep its monopoly of dollar in world.


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18 comments:

Anonymous said...

It's called bringing in the New World Order.
Bringing us all under a one world government one currency etc.
All that we see happening now is the organised chaos needed to implement the NWO.
A date to keep in mind after hearing Colin Powel refer to January 2009 around the 20th, i was left thinking a strike on Iran or something similar.
The Iraq war was party to protection of the dollar due to Saddam had mentioned changing over to the Euro.
We are watching a well planned production that would shame any Holywood blockbuster.
Obama another NWO puppet chosen for the American people whose casting vote will change nothing he's already been appointed.
His CFR running mate is the one to watch Biden.

Anonymous said...

And would this explain our leaders total capitulation to all things Muslim?

Fyrdist said...

Well, that is clear advice to our American cousins. Either the act or suffer the consequences.

I would go as far as advising the British public to in a way follow suit. I suggest that people now use their savings, etc. and take advantage of the fall in house prices to buy property, land, allotments, etc.

Leaving your money in a bank in clearly now an untenable position.

Anonymous said...

http://www.obamablog08.com/category/michelle-obama/

it was as a result of looking at this guys blog I was tempted further afield and found this little snippet about Obama Hussein Baracks wife.
What a First Lady she'll make with her race opinions.
How can Americans be so stupid as to sleepwalk towards this?

odin said...

I know it will be painful, but if they fail it should be better for us in the end!

Anonymous said...

Madame and Messiah will start a whole new race war where the mass of retards will follow into hell

Ronbo said...

How can Americans be so stupid as to sleepwalk towards this?

Perhaps as many as 60% of the Americans understand damn good and well what an Obama Administration would mean to our country and the world. Obama is clearly a Marxist and a racist with severe mental problems -- a twisted and sick man who would, I believe, attempt to destroy our Constitutional Republic in favor of a neo-Communist dictatorship.

I do not believe he would be satisfied with simply being the "First Citizen" of the USA. Like Hitler he would try to conquer the world, first by way of the creation of an "North American Union" and expand it world wide.

If the people think America under the Republic has acted as the world's most Imperialist power, a Communist America armed with thousands of nuclear weapons would be a hideous nightmare.

Of course, the Patriots in this country will resist an illegal seizure of power by Obama to the death, but like the Whites in the Russian civil war, we may lose.

---Sincerely, An American Cousin

Finlandia said...

The anti-Americanism of this article is a little hysterical. It sounds like something out of Socialist Worker.

bernard said...

GA -

You really must grab hold of yourself. This video is quite ludicrous. It's subliminal message is the 'World Jewish Conspiracy'. Last year it was the Chinese military conspiracy to attack the USA. Then the Twin Towers conspiracy. UFOs; alien possessions etc, you name it....it ALL emanates from the USA. Every crisis produces it's crop of nut cases, tilting at windmills.
This bloke Hal Turner finds a Token in the road and weaves a fantasy around it, probably to advertise his blog and increase the revenue.
The article that follows the video has some merit, the dollar could well be swapped, but Hal (from: A Space Odyssey) is destined for the funny farm.

The Green Arrow said...

finlandia.

I did not consider it to be Anti American.

This site and myself are very pro-American but that does not mean to say we believe in what their government does in the name of the American People.

Good Luck to America and her patriots.

The Green Arrow said...

James, I will not be told who to stay away from. Neither will I link to that site you provided that I personally have no trust in or the people behind it.

If you would like to resubmit your comment without links then I will post it.

The Green Arrow said...

Bernard, thank you for your comment.

I just post what I find interesting and/or informative.

David Icke of the UK, has also posted somethings, that to me are cuckoo but sometimes also gets things right.

It may be that Hal Turner is the same. Time will tell. We will not have long to wait according to him.

Finlandia said...

GA - this is one of the best sites supporting UK nationalism, with many outstanding contributors, including the Maid of Albion and your good self. But by including oddball conspiracy theorists you risk damaging the site's credibility - in my opinion.

Anonymous said...

I'm not sure about this guy GA. He mentions the Kennedy assasination and states the zapruda film proves a conspiracy when it does nothing of the kind. He seems like a scare-monger who mixes truth and conjecture and presents it as fact to create hysteria and fear.

My first thought was: where did he get the Amero and why only one at that? My second was why would Mexico and in particular Canada, form a union with the US at a time when the US is bankrupt (wait for derivitives to go belly up), desperate for energy and about to elect a Hollywood constructed marxist-racist as its president?

QEII is still the constitutional head of state too so I presume that the Queen and the UK gov are working away to form the NAU too?

The guy reminds me of another US nutjob, Alex Jones, another conspiracy "troofer" who plays fast with the truth and spins facts to create hysteria.

Thanks for posting it though, it's all food for thought but I'm treating it with caution.

Reconquista.

Anonymous said...

Young Fabian/Commies on the BNP..
http://www.amicustheunion.org/pdf/fabians%20pamphlet.pdf

Anonymous said...

Anyone doubting the amero....
just because it gets no media cover in the UK usually means it's on the cards and well on the road to reality.

video ..where the former president speaks openly re the Amero.
Former Mexican President Vicente Fox confirmed the existence of a government plan to create the amero as a new regional currency to replace the U.S. dollar, the Canadian dollar and the Mexican peso, in an interview last night on CNN’s “Larry King Live.”

It possibly was the first time a leader of Mexico, Canada or the U.S. openly confirmed a plan to create a regional currency. Fox explained the current regional trade agreement is intended to evolve into other previously hidden aspects of integration.

According to a transcript published by CNN, King, near the end of the broadcast, asked Fox a question e-mailed from a listener, a Ms. Gonzalez from Elizabeth, N.J.: “Mr. Fox, I would like to know how you feel about the possibility of having a Latin America united with one currency?”

Fox answered in the affirmative, admitting he and President Bush had agreed to pursue the Free Trade Agreement of the Americas – a free-trade zone extending throughout the Western Hemisphere – and that part of the plan was to institute a regional currency from Canada to the tip of South America.

“Long term, very long term,” he said. “What we proposed together, President Bush and myself, it’s ALCA, which is a trade union for all the Americas.”

ALCA is the acronym for the Area de Libre Comercio de las Américas, the name of the FTAA in Spanish.

King, evidently startled by Fox’s revelation of the currency, asked pointedly, “It’s going to be like the euro dollar, you mean?”

“Well, that would be long, long term,” Fox repeated.

Anonymous said...

The Coming One-World currency
September 26, 2008 · 23 Comments
Related

New World Order: Global co-operation, nationalisation and state intervention - all in one day

Some set 2010 as date for monetary union

WorldNetDaily | Sep 21, 2008

by JEROME CORSI

On Wednesday, finance chiefs of five of the six-member, oil-rich Gulf Cooperation Council approved a proposal to create a monetary union as a move toward adopting a single currency, according to the AFP.

The six Islamic states constituting the Gulf Cooperation Council are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Oman pulled out of the agreement last year.

Five states in the compact have agreed to set 2010 as the target date for the creation of a monetary union and the adoption of common currency.

The emergence of an Islamic single currency among these oil-rich Middle Eastern countries marks a significant step in the emerging worldwide movement to abandon national currencies in favor of regional currencies, along the model where the EU states have abandoned their national currencies in favor of the European Central Bank and the euro.

James said...

Thats fine, the site and the people behind it are scum in my opinion.

But Hal Turner has been known to let his comments get away with him, lets just say that.