Callow has this backwards on PetroEuro issue, BACKWARDS
more disinformation, in my opinion
Still, Callow said he is keeping an eye on the protest movement against the dollar.
"It doesn't make good economic sense, but I wouldn't be entirely dismissive of it," he said.
Arabs might hurt themselves financially by rejecting the dollar, he said, "but perhaps that is a price they would be willing to pay."
it makes good economic sense to price the world's oil in a currency that is both widely traded and in slight uptrend
the EURO is just that
end of story
Callow offers no reasoning why he believes it makes no economic sense
my guess is somebody paid him to say that
two weeks ago I predicted an Islamic response with PetroEUROS
it will come, and come very easily, if not rapidly
my guess is Iran and others will lead the pack
then later, when all Islamics except Saudi is onboard, only then will Saudi go to PetroEUROS, claiming not to be a leader in the movement
but behind the scenes, I expect they will urge the others to do it, promising to provide the final exclamation point at the end of the climactic movement
of course, this will have huge political implications
and most dangerously, will offer huge temptation for US Military forces to attack any nation that switches to EURO settlements, claiming secretly national security concerns
we could very well see PetroEURO being a centerpiece in the widening of this World War IV
my view is that PetroEUROS will lead to an extra 1-1.5% in US price inflation
/ jim |
