Comments on: Nothing http://rowhouselogic.com/2005/01/14/nothing/ Breathtaking Inanity Thu, 04 Dec 2008 02:18:55 +0000 http://wordpress.org/?v=2.1 By: dan cross http://rowhouselogic.com/2005/01/14/nothing/#comment-141 dan cross Tue, 30 Nov 1999 00:00:00 +0000 http://rowhouselogic.com/2005/01/14/nothing/#comment-141 I think this one web page, and many others like it do much to explain the war: "...the Bush administration is waging war to protect the dollar and smash the OPEC hold over international oil prices. It's a war whose purpose is bigger than Halliburton or Exxon: it's a war being fought to maintain America's position in the world." Iraq was switching to the euro. A big no-no. http://www.apfn.org/apfn/iraq_reason.htm I think this one web page, and many others like it do much to explain the war:

“…the Bush administration is waging war to protect the dollar and smash the OPEC hold over international oil prices. It’s a war whose purpose is bigger than Halliburton or Exxon: it’s a war being fought to maintain America’s position in the world.”

Iraq was switching to the euro. A big no-no.

http://www.apfn.org/apfn/iraq_reason.htm

]]> By: dan cross http://rowhouselogic.com/2005/01/14/nothing/#comment-142 dan cross Tue, 30 Nov 1999 00:00:00 +0000 http://rowhouselogic.com/2005/01/14/nothing/#comment-142 And more... "Big Picture Perspective: Everything else aside from the reserve currency and the Saudi/Iran oil issues (i.e. domestic political issues and international criticism) is peripheral and of marginal consequence to this administration. Further, the dollar-euro threat is powerful enough that they'll rather risk much of the economic backlash in the short-term to stave off the long-term dollar crash of an OPEC transaction standard change from dollars to euros. All of this fits into the broader Great Game that encompasses Russia, India, China. The effect of an OPEC switch to the euro would be that oil-consuming nations would have to flush dollars out of their reserve funds and replace these with euros. The dollar would crash anywhere from 20-40% in value and the consequences would be those one could expect from any currency collapse and massive inflation (think Argentina currency crisis, for example). You'd have foreign funds stream out of the U.S. stock markets and dollar denominated assets, there'd surely be a run on the banks much like the 1930s, the current account deficit would become unserviceable, the budget deficit would go into default, and so on. Your basic 3rd world economic crisis scenario. The United States economy is intimately tied to the dollar's role as reserve currency. This doesn't mean that the U.S. couldn't function otherwise, but that the transition would have to be gradual to avoid such dislocations (and the ultimate result of this would probably be the U.S. and the E.U. switching roles in the global economy)." http://www.apfn.org/apfn/iraq_reason.htm And more…

“Big Picture Perspective: Everything else aside from the reserve currency and the Saudi/Iran oil issues (i.e. domestic political issues and international criticism) is peripheral and of marginal consequence to this administration. Further, the dollar-euro threat is powerful enough that they’ll rather risk much of the economic backlash in the short-term to stave off the long-term dollar crash of an OPEC transaction standard change from dollars to euros. All of this fits into the broader Great Game that encompasses Russia, India, China.

The effect of an OPEC switch to the euro would be that oil-consuming nations would have to flush dollars out of their reserve funds and replace these with euros. The dollar would crash anywhere from 20-40% in value and the consequences would be those one could expect from any currency collapse and massive inflation (think Argentina currency crisis, for example). You’d have foreign funds stream out of the U.S. stock markets and dollar denominated assets, there’d surely be a run on the banks much like the 1930s, the current account deficit would become unserviceable, the budget deficit would go into default, and so on. Your basic 3rd world economic crisis scenario.

The United States economy is intimately tied to the dollar’s role as reserve currency. This doesn’t mean that the U.S. couldn’t function otherwise, but that the transition would have to be gradual to avoid such dislocations (and the ultimate result of this would probably be the U.S. and the E.U. switching roles in the global economy).”

http://www.apfn.org/apfn/iraq_reason.htm

]]> By: Ruth http://rowhouselogic.com/2005/01/14/nothing/#comment-143 Ruth Tue, 30 Nov 1999 00:00:00 +0000 http://rowhouselogic.com/2005/01/14/nothing/#comment-143 While I agree with you, Chris, that President Bush is most likely completely incapable of the kind of foresight necessary to engage in this war for the oil and/or euro motives, I absolutely believe that his close advisors, most especially Cheney, are completely capable of this kind of Machiavellian planning. While I agree with you, Chris, that President Bush is most likely completely incapable of the kind of foresight necessary to engage in this war for the oil and/or euro motives, I absolutely believe that his close advisors, most especially Cheney, are completely capable of this kind of Machiavellian planning.

]]> By: dan cross http://rowhouselogic.com/2005/01/14/nothing/#comment-144 dan cross Tue, 30 Nov 1999 00:00:00 +0000 http://rowhouselogic.com/2005/01/14/nothing/#comment-144 I hear this book is popular on capital hill: Machiavelli on Modern Leadership : Why Machiavelli's Iron Rules are as Timely and Important Today as Five Centuries Ago by Michael A. Ledeen I hear this book is popular on capital hill:

Machiavelli on Modern Leadership : Why Machiavelli’s Iron Rules are as Timely and Important Today as Five Centuries Ago by Michael A. Ledeen

]]> By: Chris http://rowhouselogic.com/2005/01/14/nothing/#comment-145 Chris Tue, 30 Nov 1999 00:00:00 +0000 http://rowhouselogic.com/2005/01/14/nothing/#comment-145 They may well be capable of that sort of planning, and I certainly don't discount it as a possibility. It was more of a gut feeling at the time, with nothing much to back it up. Given the administration's lack of foresight on the proposal and application of nearly every one of their policies, I still have a great deal of trouble giving them that much credit. They may well be capable of that sort of planning, and I certainly don’t discount it as a possibility. It was more of a gut feeling at the time, with nothing much to back it up. Given the administration’s lack of foresight on the proposal and application of nearly every one of their policies, I still have a great deal of trouble giving them that much credit.

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