Posts Tagged ‘OPEC’

via the London Telegraph: “The head of China’s central bank has given the strongest signal yet that the country will move away from pegging its currency to the dollar, but he said any changes would be gradual.”

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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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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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Chinese profiteers are reaping benefits from the Iraq War in the early auction of the stolen spoils and the country is necessary for U.N. actions to escalate economic war on Iranian civilians based on President Obama’s false, hypocritical claim Iran’s nuclear program “breaks rules all nations must follow”.

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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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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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