http://www.wingtv.net/dollariraq.html
What You Didn't Know About the Dollar & Iraq
by Mark Owen The Federal Reserve is a system of private
banks separate and distinct from the U.S. government. This banking system was
originally conceived by John D. Rockefeller and J.P. Morgan. The FED, as it it
known, is listed in the white pages along with Federal Express, the Federal
Deposit Insurance Corporation, and other businesses. The bank produces Federal
Reserve Notes. They use these notes/dollars to purchase government bonds. These
notes are a fiat currency. Historically, all fiat currencies eventually crash
due to hyperinflation from over-issuance. The supply of paper is limitless.
There is no intrinsic value in paper currency after delinking from a gold
standard. This is why they are referred to as bank notes. Legally, they can't
be referred to as 'money.' They are mere tickets/tokens. Forced tender laws
were passed in order to give the paper currency legitimacy. The only thing
giving bank notes value is TAXATION. Gold and silver have intrinsic value
due to scarcity and the fact that it takes work to produce them (mining,
smelting etc). This is why they have been used as money for 5000 years.
Precious metals are a good store of value. They retain their value over time
and aren't subject to inflation. The fiat paper system is designed to create
debt through inflation (devaluation of currency). Whenever there is an increase
in the money supply without a corresponding increase in gold or silver backing,
inflation results. Inflation is a subtle form of theft banks impose upon
citizens.
Goodbye gold-
In the 1960s Lyndon Johnson borrowed billions from the French Rothschilds so he
wouldn't have to raise taxes to finance the Viet Nam war. Rothschild agent
Charles de Gaulle demanded repayment in gold, not greenbacks. When Richard
Nixon was elected he noted that the treasury was almost depleted of gold and he
removed the dollar from the gold standard. But the debt still stood. Nixon
collateralized the debt with the mineral estate of the western U.S. and a
land-for-debt swap was initiated. Much of the western States were given to the
banks. This is when Nixon created the Environmental Protection Agency. Their
mandate was/is to PREVENT American citizens from logging, farming, ranching or
otherwise exploiting these lands being held for the banks. The Bureau of Land
Management and other agencies are used to harass ranchers and farmers from the
land.
So, what does the foregoing have to do with Middle East? Plenty.
All central banks of the world hold U.S. dollar reserves equivalent to the
local currency in circulation to facilitate trade. The dollar is the biggest
American export. It is impossible to overstate this. Also, when any country
wishes to purchase oil, they must first convert their local currency to U.S.
dollars and then purchase oil from the cartels. This is the arrangement
hammered out between the U.S. and Saudi Arabia in 1974. The quid pro quo was
that the U.S. armed the Saudis to the teeth.
In the last two years the euro currency has gained 30% relative to the U.S.
dollar. The European banks are seeking to have the euro accepted as the new
world reserve currency. Countries like China and Japan are sitting atop
mountains of U.S. dollars that are being daily devalued. Since the U.S. dollar
is printed by the FED at will and without restraint (and is not linked to
gold), Americans are essentially getting the world's oil for free (it costs the
FED around 4 cents to print a one hundred dollar Federal Reserve note). France
and Germany would like a piece of the free oil pie.
FED chairman Alan Greenspan is forced to feed the recovery myth or risk a panic
sell-off of dollars. This past spring he tripled the money supply to $50
billion per week. This is making even seasoned economists nervous. In August,
Morgan Stanley chief economist Stephen Roach predicted a stock market crash on
the scale of 1987s Black Monday. "The funding of America is an accident waiting
to happen," he declared.
In speeches made outside of the U.S. (and only then) Greenspan has repeatedly
warned of a possible 'systemic collapse' of the financial system. The printing
of all of this paper is leading to massive inflation. All commodities have
spiked from 10 to 90% over the last year. $15 dollar jeans available from
Wal-Mart produced by slave labor in China somewhat disguise this fact. Another
trick the money masters use to lull citizens is to periodically and
surreptitiously ditch dinosaur industries from the DOW (like Kodak, this past
spring) and supplant them with high-tech earners like Verizon, for instance.
This is not to say that U.S. companies aren't investing billions of dollars in
new production; they are. It's just that it's in China, not Ohio. China's
quarter-trillion dollar export boom is America's import deficit. The debt-based
credit inferno must create ever larger volumes of debt (credit) to prevent a
financial implosion. The entire world growth since 2003 depends on the record
FED money supply. Total U.S. debt now stands at $34 trillion. The U.S. GDP is
$11 trillion. This means that debt is 3 times GDP, greater even than the
depression of the 1930s. But happily for American citizens, the Federal Reserve
of Cleveland commissioned a study recently on ways to diffuse this massive debt
bomb. Options discussed included:
- doubling payroll taxes from 15.3% of wages to 32% immediately and
forever
- raising income taxes by two thirds immediately and forever
- cutting Social Security and Medicare by 45% immediately and forever
- eliminating forever all discretionary spending on courts, highways
and parks
Enter Saddam-
In November 2000 Saddam Hussein tried to barter Iraq's oil directly for euros.
This would have cut America out of its enormous subsidy and started a stampede
of other OPEC members to embrace the euro. This simply would not stand. 9-11
was the pretext used to boot Saddam. Bush couldn't get America's moms to
sacrifice their children for dollar hegemony and the terrorist bogey was
activated.
Fourteen huge, permanent bases are currently under construction in Iraq, along
with the world's biggest embassy in Baghdad (3,500 employees, and counting).
Bush will continue on a permanent war footing in the Middle East in order to
protect U.S. dollar hegemony. There is no other option. All future wars will be
run out of Iraq. Iran has been making noises lately about ditching the U.S.
dollar in favor of the euro, as have the Saudis. They're next. The U.S. will
dismantle OPEC and surround Saudi Arabia, keeping their hand firmly on the oil
spigot. This is the essence of the petro-dollar warfare that we are witnessing,
in a nutshell....
Thomas "Rocky" Costanzo
888-848-8781 Voice / 561-450-5546 Fax
[EMAIL PROTECTED]
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Politics: 'Poli' in Latin meaning 'many' and 'tics' meaning 'bloodsucking
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