U.S. Beats War Drum as Iran Dumps the Dollar

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U.S. Beats War Drum as Iran Dumps the Dollar

Post by hawkiye on Sun 04 May 2008, 1:41 pm

U.S. Beats War Drum as Iran Dumps the Dollar


Post Date: May 1st, 2008

Submitted By: Shaun Booth

Filed Under: FeaturedForeign PolicyShaun Booth

seemingly ever escalating rhetoric against Iran by U.S. officials took
another step forward today. A senior military official leaked to the
press plans to publicly reveal the evidence of weapons caches found in
Iraq which can be directly traced back to Iran.

The types of weapons found such as roadside bombs are believed to have been meant for use against the occupying American forces.

This plan to publicly present evidence of Iranian
support for Shiite militias inside of Iraq comes at virtually the same
time that Iranian officials have confirmed that they have completely
dumped the dollar in their oil trades.

It is being reported by an anonymous official that plans to release evidence were going to go forward
sooner than is now expected because Iraqi officials want to first meet
with Iranian officials to discussion a possible solution to what U.S.
officials see as a growing problem.

The revelation of evidence comes just days after top U.S. military officials have openly admitted

Adding even more fuel to the fire of speculation
is the recent arrival of a second United States aircraft carrier just
of the southern coast of Iran. Secretary of Defense Robert Gates was
quoted yesterday while in Mexico as saying that the 2nd
aircraft carrier is a “reminder” and not a threat or elevation of
pressure on Iran. Though it is now being reported by an anonymous
senior official that the USS Lincoln was a replacement for the USS
Truman which is now reportedly returning to its home base, this has not
yet been confirmed.

It is important not to underestimate the possible
severity of Washington’s response to the announcement of Iran dumping
the dollar in oil exchanges and opting instead for the euro and the yen.

It is some economic analyst’s belief that Saddam
Hussein’s decision to switch from accepting the dollar to accepting the
euro in 2000 was one of the significant developments that transformed
opinions in Washington such as Vice President Dick Cheney’s into
believing that regime change in Iraq was necessary to protect American

Some American economists fear that by Iran dumping
the dollar it could lessen the need for other countries around the
world to hold onto their large reserves of United States Federal
Reserve notes. This would likely result in the further
plunging of the dollar as well as the continuing climb of fuel prices.
In recent weeks the dollar has shown some resiliency, but most of the
world’s leading economists, such as Ben Fulford, a former Asian Bureau
Chief for Forbes, who calls the recent dollar movement a “dead cat’s
bounce” believe that while the Federal Reserves move to flood the
economy with cash may have a short-term effect of essentially buying
some time, the writing is on the wall for the U.S. economy.

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Re: U.S. Beats War Drum as Iran Dumps the Dollar

Post by greendragon on Sun 04 May 2008, 1:56 pm

Yes it's getting crazy out there. This is exactly what Saddam did. I suspect we will be attacking Iran one way or another very soon. The Other OPEC countries are hinting at moving out of dollars too. There goes our economy if they do...

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