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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: tsigprofit who wrote (16076)	3/31/2003 2:26:10 PM
From: Jim Willie CB	Respond to of 89467

two realities clash in stark fashion 1. global trade requires that we in the USA import huge foreign savings and export huge domestic debt, and of course continue to import Asian finished products and Arab oil (debt represents our biggest export besides faulty banking systems and arrogance) 2. US Military gives foreigners no vote on decisions to deploy forces, execute wars, and risk world war (as vividly seen before United Nations and NATO) only area where the system gives..... PROTEST VOTE AGAINST THE USDOLLAR using the USTrez Bond as the primary vehicle soon the onliest buyers will be US citizens running from stocks USDollar now back to 99 flat but USTBond TENS yield down to 3.8% quotes.ino.com / jim

To: tsigprofit who wrote (16076)	3/31/2003 4:07:00 PM
From: Jim Willie CB	Respond to of 89467

WHEN WILL WE BUY OIL IN EUROS ? Sunday February 23, 2003 The Observer [ME: frightening, scarey stuff expect Arab-led Petro-Euros to come before 2005 maybe before 2004 the marketplace forces dictate it international resentment of USA might quicken it] When it comes to the global oil trade, the dollar reigns supreme. But it has a challenger, writes Faisal Islam Whether the price of oil is surging to new highs, as it is today, or slumping, as is predicted after a war in Iraq, there is one enduring constant: the dollar sign. Oil trading, whether from Norway to the Netherlands, Britain to Bermuda, or Bahrain to Bangladesh, operates through the US greenback. The oil-dollar nexus is one of the foundations of the world economy that inevitably filters through to geopolitics. Recycling so-called petrodollars, the proceeds of these high oil prices, has helped the United States run its colossal trade deficits. But the past year has seen the quiet emergence of the 'petroeuro'. Effectively, the normal standards of economics have not applied to the US, because of the international role of the dollar. Some $3 trillion (£1,880 billion) are in circulation around the world helping the US to run virtually permanent trade deficits. Two-thirds of world trade is dollar-denominated. Two-thirds of central banks' official foreign exchange reserves are also dollar-denominated. full article: observer.co.uk / jim