Merkhava

1 Comment

ON: Mon Apr 14th 01:13 AM
Commented on:
Iranian Oil Bourse Starts Trading, Sans Dollar Contracts

I think your insights into the significance and consequences of the Iranian Oil Bourse are spot on. The current policy of the Federal Reserve to devalue the USD amounts to a global taxation upon the foreign nations who have exported real goods to America in return for FRNs. By devaluing the USD almost 40% since Bush took office, America has effective levied a tremondously onerous tax upon its "imperial provinces", aka. trading partners. The formation of the IOB and the Russian economic nationalization out of FRNs into gold and Euros is not only a predictable reaction, but a reasonable foreign response to the neocon agenda of 21st century American Empire. Since the American people are culturally predisposed towards the concepts of individual liberty and national sovereignty, the PNAC agenda is doomed to failure. If the USA quickly recognizes its brief tenure as "Sole Superpower" has run its course and that it must accommodate the new realities of rising powers in the world, then we can all proceed towards a bright future of cooperation and mutual prosperity. But if the neocons foolishly pursue a war against Iran to restore the hegemony of the petrodollar, then the escalating chaos that will come will be horrid beyond control. Such a miscalculation will not strengthen America, but will instead quickly hasten the collapse of its Empire.
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