Posts Tagged ‘dollar hegemony’

Tuesday, gold hit $1,199.30/oz. as Japan moves toward metals, away from being a tit of the U.S. The record high of gold’s value displays the record low of the U.S. dollar.

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The threat of military force, according to international law, in an act of war. The Venezuelan president is posturing, but the U.S. has mobilized forces and resources in Colombia—to which President Chávez claims to be reacting. Eva Golinger, a journalist and lawyer heavily focused on Venezuela, says the October 30th U.S-Colombia agreement “basically converting Colombia into one giant U.S. military base in South America” (4:49):

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On ABC’s “This Week with George Stephanopolous”, George Will of The Washington Post points to India’s recent run on the dollar as an indicator for a coming fall in the subjective greenback in favor of “other better stores of value”. Veteran White House correspondent for ABC, Sam Donaldson, says if that’s the case, “then, we’d better throw Ben Bernanke and the Fed out… Let’s get rid of them now before they do further damage.” (2:13):

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Ret. Col. Lawrence Wilkerson, former chief of staff to Bush Administration Secretary of State Colin Powell, on the ‘Military-Industrial-Congressional Complex, perpetual war’s relation to the viability of the American Empire, ‘evil’ dollar hegemony’s inevitable demise and the inherent corruptibility of power preventing  the U.S. ‘from impeaching a president every generation’. Col. Wilkerson’s no libertarian—probably better classified as a ‘Jeffersonian military man’—as you see in his proposed solution.

Part One: “The Beginning of the American ‘Imperial Rome’ and Eisenhower’s Warning” (10:21):

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Two-thirds of the 48,000 U.S. troops in Japan occupy bases on the island of Okinawa. The Obama Administration threatens “there will be no consolidation of forces and return of land in Okinawa” if the new Japan government doesn’t compromise its demands to further scale down the occupation than the old government agreed with the Bush Administration.

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Leaders of nine Latin American countries approved the usage of an intra-regional currency called the “Sucre”.

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Russia’s prime minister says it and China ‘is ready to consider using the Russian and Chinese national currencies instead of the dollar in bilateral oil and gas dealings’, Ria Novosti reports.

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This morning, gold hit a new high nearing $1,070/oz. showing the  U.S. dollar ‘reaching a breaking point’ as it hits another new 14-month low.

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Weeks after Iran officially announced it would replace the U.S. dollar—its value heavily dependent on Middle East oil trading—with euros in its foreign exchange holdings, The Independent Middle East correspondent Robert Fisk’s article, “The Demise of the Dollar,” breaks the story that: “In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the U.S. currency for oil trading” by 2018. I wrote of the alliance between Brazil, Russia, India and China (BRIC) here in June.

Russia Today (RT) reports on Mr. Fisk’s exclusive (3:25):

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At the heavily protested World Bank-International Monetary Fund (I.M.F.)  meetings with global finance oligarchs, a U.N. undersecretary-general suggests special drawing rights (SDRs) from the I.M.F. as a world currency. Such a policy would turn the I.M.F. into the global central bank.

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Iran’s decision to abandon the U.S. dollar from its foreign exchange accounts comes less than 20 months after opening the Iranian Oil Bourse–a commodity exchange devoid of U.S. dollars. Early December 2007, Iran announced that “nearly all” of the world’s 4th largest crude producer’s oil transactions were now being paid in non-U.S. currencies, which President Mahmoud Ahmadinejad has adequately called a “worthless piece of paper”. It was the first oil producer since Iraq under Saddam Hussein to do so. Months later, the U.S. invaded Iraq and overthrew that ‘rogue’.

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Lew Rockwell, Jr.: America ‘headed to national socialism’; Documents detailing Bush’s illegal wiretapping program released; Bush White House blocked three investigations of a 2001 massacre by a C.I.A.-backed Afghan warlord; Obama ‘colonizing Iraq’; More than 800 Uighurs reportedly killed in ethnic clashes with the Chinese gov’t; ‘Terror suspect’ contributing to Afghan society; Georgia and U.S. preparing to invade near Russian borders?; G-8 threatens Iran; Russian president unveils world currency coin; and more… (more…)

Kissinger calls Iran a ‘weak and small country with inherent limits’; Muslims and Han Chinese clash in Western China, killing 156+; G-8 to dictate radically tyrannical “green” policies; Fed economist warned of a collapse if interest rates didn’t raise in 2003;  Shanghai, HK, and Indonesia take steps away from dollar hegemony; India to steal more land from the poor to multinational corporations; Thomas Woods schools some mindless, so-called ‘progressive’ tyranny cheerleaders; and more… (more…)

Jeremy Scahill on “Obama’s undeclared war against Pakistan”; The end of Western hegemony?; Deaths in Iraq on the rise;  Admitting fraud, Iran denies nullifying vote; Mousavi calls for rally on Thursday, Iran judiciary threatens force; Somalia announces “state of emergency”; U.K. thugs arrest women for asking their badge numbers; Scientology leader beats his staff. (more…)

Freedomain Radio host Stefan Molyneux and Little Alex discuss the Middle East, China’s motivations in the global economy, positive and negatives of ‘liberalizing’ trade, among other topics. (more…)