View Full Version : More bad news for our economy!
Hotrod
03-02-2006, 09:22 AM
http://www.countercurrents.org/po-bakken230206.htm
Its becoming a trend that is likely to knock our economy on its ***. Not sure theres a damn thing we can do about it.
So whats your vote a recession/wars or one world currency followed by one world government ;)
Spider
03-02-2006, 09:32 AM
I am on dial up , so I didnt read the link sorry hotrod
Hotrod
03-02-2006, 09:40 AM
"Bourse Director Sven Arild Andersen is fed up with Norwegian oil having to be traded in London and wants to have a commodities and energy bourse in Norway."
"Andersen in of the opinion that Norwegian oil must be traded in Euros, which can be advantageous for international customers."
"We have performed market studies and both Russia, which is a large oil exporter, as well as the countries of the Middle East have large parts of their economies in Euros. They would be able to view such a bourse as a contribution to balancing their economies in a better manner than at present, where their products are traded solely in dollars," says Andersen."
Andersen in of the opinion that Norwegian oil must be traded in Euros, which can be advantageous for international customers.
I believe this is the real reason we attacked Iraq because Saddam was going to convert to the Euro as the trading currency for his oil and Iraq has the 2nd greatest amount of oil. If that had happened it would have greatly devalued the dollar because the world trades in dollars and have for years artificially propped up the dollar. We would have see a deep devaluation causing havoc in our national and global economy.
This article trumpets the beginning of the end of the life style we Americans have enjoyed for over 200 years.
<b> Welcome to the flat earth!
Mile High Shack
03-02-2006, 10:15 AM
Andersen in of the opinion that Norwegian oil must be traded in Euros, which can be advantageous for international customers.
I believe this is the real reason we attacked Iraq because Saddam was going to convert to the Euro as the trading currency for his oil and Iraq has the 2nd greatest amount of oil. If that had happened it would have greatly devalued the dollar because the world trades in dollars and have for years artificially propped up the dollar. We would have see a deep devaluation causing havoc in our national and global economy.
This article trumpets the beginning of the end of the life style we Americans have enjoyed for over 200 years.
<b> Welcome to the flat earth!
Iraqi oil was not being used in the US
alkemical
03-02-2006, 10:18 AM
Iraqi oil was not being used in the US
his oil was traded in US dollars though.
his oil was traded in US dollars though.
exactly
Josh read the Believers thread, I think you will really enjoy it.
alkemical
03-02-2006, 10:31 AM
iran is going to 'bourse' as well - i've posted this article in my news thread, don't know which page, etc - but it's in there.
I know i get flack for my positions on subjects, but honestly my news thread is pretty good. (had to plug it) :)
alkemical
03-02-2006, 10:32 AM
Josh read the Believers thread, I think you will really enjoy it.
I've read it
iran is going to 'bourse' as well - i've posted this article in my news thread, don't know which page, etc - but it's in there.
I know i get flack for my positions on subjects, but honestly my news thread is pretty good. (had to plug it) :)
I read it when you bring it to the top otherwise I forget :angel:
BTW Thanks for posting the stories.
Hotrod
03-02-2006, 11:01 AM
iran is going to 'bourse' as well - i've posted this article in my news thread, don't know which page, etc - but it's in there.
I know i get flack for my positions on subjects, but honestly my news thread is pretty good. (had to plug it) :)
I read your articles and some I've heard of some I have not.
I think March will tell alot about how much the euro oil change plays a role in Bush's policys.
I read your articles and some I've heard of some I have not.
I think March will tell alot about how much the euro oil change plays a role in Bush's policys.
Bush pissing off most of our traditional Euro allies will not garner much cooperation.
alkemical
03-02-2006, 11:22 AM
I often wonder if there's a 'no turning' back point on how things are being run....
Hotrod
03-02-2006, 11:24 AM
Bush pissing off most of our traditional Euro allies will not garner much cooperation.
Your certainly correct and while I think Iraq moving to the euro traded oil had alot to do with our being in Iraq in the first place it should be interesting to find out how much a factor it was. Iran will be moving to the Euro traded oil on March 26th I believe.
Like most know but maybe some here dont the dollar is no longer backed by gold like it once was its backed by oil. Once oil is no longer traded in strictly the dollar our economy takes a HUGE hit.
You all think amesj has some far out ideas......IMO this is the first step in one world currency and it wont be the dollar. Thats the bad news the worse news is inorder for one world currency to become a reality the American dollar must be all but destoryed.
Your certainly correct and while I think Iraq moving to the euro traded oil had alot to do with our being in Iraq in the first place it should be interesting to find out how much a factor it was. Iran will be moving to the Euro traded oil on March 26th I believe.
Like most know but maybe some here dont the dollar is no longer backed by gold like it once was its backed by oil. Once oil is no longer traded in strictly the dollar our economy takes a HUGE hit.
You all think amesj has some far out ideas......IMO this is the first step in one world currency and it wont be the dollar. Thats the bad news the worse news is inorder for one world currency to become a reality the American dollar must be all but destoryed.
This is why smart money is land banking in Mexico and other places.
This may be a good time to max out your credit cards
Hotrod
03-02-2006, 11:31 AM
This is why smart money is land banking in Mexico and other places.
This may be a good time to max out your credit cards
Actually if there is any hope at all one would be safer getting ride of all things that carry an interest rate. Especially an ARM. If the dollar ****'s itself people with variable interest rate loans in any form are F***ed plain and simple.
alkemical
03-02-2006, 11:32 AM
whoo hoo!
i hate to be right.
Actually if there is any hope at all one would be safer getting ride of all things that carry an interest rate. Especially an ARM. If the dollar ****'s itself people with variable interest rate loans in any form are ****Ed plain and simple.
Holding soon to be deeply devalued dollars is not a good idea either that's why I suggest incurring unsecured dept. to buy valuable durable goods gold and such.
Productive land is the best investment right now.
Hotrod
03-02-2006, 11:37 AM
whoo hoo!
i hate to be right.
LOL lets hope were both nuts
Hotrod
03-02-2006, 11:37 AM
Holding soon to be deeply devalued dollars is not a good idea either that's why I suggest incurring unsecured dept. to buy valuable durable goods gold and such.
Productive land is the best investment right now.
Thats very true!
alkemical
03-02-2006, 11:45 AM
LOL lets hope were both nuts
damn straight man.
I'd rather be crazy, than right on this issue.
Mile High Shack
03-02-2006, 12:09 PM
it usually is never as bad as the alarmists make it out to be
alkemical
03-02-2006, 12:11 PM
it's never as rosy as the optimists paint it to be.
Mile High Shack
03-02-2006, 12:13 PM
it's never as rosy as the optimists paint it to be.
yep, usually right in the middle
I'm not an optimist by any means
but I think it's not as bad as you are making it out to be, that is for sure
alkemical
03-02-2006, 12:15 PM
yep, usually right in the middle
I'm not an optimist by any means
but I think it's not as bad as you are making it out to be, that is for sure
The only thing MHS - is the civilian inmate labour programs outlined to be run at US army bases, the removal of the middle class, etc -
Mile High Shack
03-02-2006, 12:17 PM
The only thing MHS - is the civilian inmate labour programs outlined to be run at US army bases, the removal of the middle class, etc -
yep
it's the end of the world as we know it
and I feel fine
alkemical
03-02-2006, 12:18 PM
yep
it's the end of the world as we know it
and I feel fine
you must be on a soma holiday :)
Hotrod
03-02-2006, 12:21 PM
yep
it's the end of the world as we know it
and I feel fine
very likely :)
Mile High Shack
03-02-2006, 12:53 PM
very likely :)
Leonard Bernstein
it usually is never as bad as the alarmists make it out to be
Remember we were the ones telling you exactly how this Bush administration was going to turn out and time has shown us to be right
May be we just see the writing on the wall quicker than some others. ;D
alkemical
03-02-2006, 02:01 PM
it comes from hitting our heads against it so often :)
Mile High Shack
03-02-2006, 03:21 PM
I'd be more worried if the US didn't consume most of the worlds oil
meaning, we have more say on what is going to happen to the oil we consume.
alkemical
03-02-2006, 03:26 PM
we don't have as much say as you'd think
Hotrod
03-02-2006, 03:28 PM
I'd be more worried if the US didn't consume most of the worlds oil
meaning, we have more say on what is going to happen to the oil we consume.
Thats a double edge sword.
ak1971
03-02-2006, 04:28 PM
gold and guns economy...Get all the gold you can and if you cant use your gun to steal it...
L.A. BRONCOS FAN
03-02-2006, 06:50 PM
iran is going to 'bourse' as well -
Which may explain the saber rattling coming from the Bush/Exxon WH.
Which may explain the saber rattling coming from the Bush/Exxon WH.
BINGO
The dollar is almost worthless and has been for quite some time
Why do you think "REAL" estate is doubling and tripling ???
Spider
03-02-2006, 08:29 PM
BINGO
The dollar is almost worthless and has been for quite some time
Why do you think "REAL" estate is doubling and tripling ???
even real estate is cooling down here in the rockies .... alot of it is my wife is now locked up in the hospitial she cant go shopping ..............;D
L.A. BRONCOS FAN
03-03-2006, 03:59 AM
BINGO
The dollar is almost worthless and has been for quite some time
Why do you think "REAL" estate is doubling and tripling ???
"You can only introduce so much perversity into an economic system before distortions cripple it. From 2001 through 2005, consumer spending and residential construction had together accounted for 90 percent of the total growth in GDP, while over two-fifths of all private sector jobs created since 2001 were in housing-related sectors, such as construction, real estate and mortgage brokering. Much of the money spent did not really exist except as credit -- incomes as yet unearned, hallucinated liquidity, wished-for wealth, all based on the expectation that house values would continue to rise at 10 to 20 percent a year forever. It became a reckless racket, all predicated on sustaining an economy that had lost its other means for generating wealth -- foremost its infrastructure for making things besides suburban houses."
- James Howard Kunstler
"You can only introduce so much perversity into an economic system before distortions cripple it. From 2001 through 2005, consumer spending and residential construction had together accounted for 90 percent of the total growth in GDP, while over two-fifths of all private sector jobs created since 2001 were in housing-related sectors, such as construction, real estate and mortgage brokering. Much of the money spent did not really exist except as credit -- incomes as yet unearned, hallucinated liquidity, wished-for wealth, all based on the expectation that house values would continue to rise at 10 to 20 percent a year forever. It became a reckless racket, all predicated on sustaining an economy that had lost its other means for generating wealth -- foremost its infrastructure for making things besides suburban houses."
- James Howard Kunstler
Yes this false fad generated mad climb in equity values of people's primary asset their home will have devastating consequences in the near future, if not next year certainly after the election.
I bought a large ranch in Mexico this year purely as a self sustaining quiet safe place to ride out the next few years. I think we will have a depression but with an attitude.
ak1971
03-03-2006, 08:06 AM
Yes this false fad generated mad climb in equity values of people's primary asset their home will have devastating consequences in the near future, if not next year certainly after the election.
I bought a large ranch in Mexico this year purely as a self sustaining quiet safe place to ride out the next few years. I think we will have a depression but with an attitude.
I do agree with the fact that a lot of people use their homes as piggy banks, but did you know that only approx 40% of properties in the US even have a mortgage on them?