From Ron Paul's speech also: "Most Americans forget how our policies have systematically and needlessly antagonized the Iranians over the years. In 1953 the CIA helped overthrow a democratically elected president, Mohammed Mossadeqh, and install the authoritarian Shah, who was friendly to the U.S. The Iranians were still fuming over this when the hostages were seized in 1979. Our alliance with Saddam Hussein in his invasion of Iran in the early 1980s did not help matters, and obviously did not do much for our relationship with Saddam Hussein. The administration announcement in 2001 that Iran was part of the axis of evil didnât do much to improve the diplomatic relationship between our two countries. Recent threats over nuclear power, while ignoring the fact that they are surrounded by countries with nuclear weapons, doesnât seem to register with those who continue to provoke Iran. With what most Muslims perceive as our war against Islam, and this recent history, thereâs little wonder why Iran might choose to harm America by undermining the dollar. Iran, like Iraq, has zero capability to attack us. But that didnât stop us from turning Saddam Hussein into a modern day Hitler ready to take over the world. Now Iran, especially since sheâs made plans for pricing oil in Euros, has been on the receiving end of a propaganda war not unlike that waged against Iraq before our invasion." Are we getting ready for another war? Another defenseless nation to be plowed over, and give up its oil reserves to our companies?
OK. But I believe the foreign central banks who hold all the $ actually hold them in the form of treasuries, and, to a lesser extent, other US investments. Now this means they will sell treasuries and convert proceeds to another currency - thereby driving down the $. But wait a minute - didn't I read somewhere that the surplus generated by the Social Security excess funding through 2011 is expected to be so great that the SS trust fund (lets not get into a side argument about the validity of a trust fund) will eventually "own" all of the govt Debt that is currently issued? Anybody know anything about this statement? Because if this is true, it may be the very reason that interest rates are at these insanely low levels. Anybody that believes there is no inflation in the US has not gone to the grocery store, bought a home or seen a doctor in the last three years. I could go on and on. So.........I say BS, inflation is rampant and the only reason we do not have a long bond yielding 8-12 % is because the SS overfunding is 'soaking up' all those $ that are sloshing around all over the world. I think this means that when they convert $ to another currency, that they then convert back to dollars to buy our hard assets. Real estate etc. So maybe the dollar is Ok as long as we have hard assets that are attractive investments. Am I nuts?
There is no surplus and the SS trust fund only holds non-marketable US Treasuries. SS tax revenue is currently greater than SS benefit payments, but the politicians are spending that too along with even more that we don't have.
Why can you not just accept it. European imperialism is dead in the water, now the Euro's are running shit scared thanks to the Chinese.
I am listening to coast to coast radio with Art Bell as I post...They are talking about the upcoming ice-age...or is it Global warming tonight...?
La conquête de l'Occident: Le projet secret des Islamistes (The Conquest of the West: The Islamists' Secret Project), recounts how, in November 2001, Swiss authorities acting on a special request from the White House entered the villa of a man named Yusuf Nada in Campione, a small Italian enclave on the eastern shore of Lake Lugano in Switzerland. Nada was the treasurer of the Al Taqwa bank, which allegedly funneled money to al Qaeda. In the course of their search of Nada's house, investigators stumbled onto "The Project," an unsigned, 14-page document dated December 1, 1982. "The Project" is a roadmap for achieving the installation of Islamic regimes in the West via propaganda, preaching, and, if necessary, war. It's the same idea expressed by Sheikh Qaradawi in 1995 when he said, "We will conquer Europe, we will conquer America, not by the sword but by our Dawa [proselytizing]."
Yes, we and the British bailed them out but they gave us the a good part of the Enlightenment, the intellectual foundation of this country. So we're even.
Yes and I want to thank them for socialism. They came up with it too (present form, it's not completely new delusion) So we are not even, they owe to Anglos.