Why the Dollar Bubble is about to Bust

The Collapse of Dollar Imperialism

Currently almost all oil buying and selling is in US-dollars through exchanges in London and New York. It is not accidental they are both US-owned.

The Wall Street crash in 1929 sparked off global depression and World War II. During that war the US supplied provisions and munitions to all its allies, refusing currency and demanding gold payments in exchange.

By 1945, 80% of the world's gold was sitting in US vaults. The dollar became the one undisputed global reserve currency -- it was treated world-wide as `safer than gold'. The Bretton Woods agreement was established.

The US took full advantage over the next decades and printed dollars like there was no tomorrow. The US exported many mountains of dollars, paying for ever-increasing amounts of commodities, tax cuts for the rich, many wars abroad, mercenaries, spies and politicians the world over. You see, this did not affect inflation at home! The US got it all for free! Well, maybe for a forest or two.

Over subsequent decades the world's vaults bulged at the seams and more and more vaults were built, just for US dollars. Each year, the US spends many more dollars abroad that at home. Analysts pretty much agree that outside the US, of the savings, or reserves, of all other countries, in gold and all currencies -- that a massive 66% of this total wealth is in US dollars!

In 1971 several countries simultaneously tried to sell a small portion of their dollars to the US for gold. Krassimir Petrov, (Ph. D. in Economics at Ohio University) recently wrote, "The US Government defaulted on its payment on August 15, 1971. While popular spin told the story of `severing the link between the dollar and gold', in reality the denial to pay back in gold was an act of bankruptcy by the US Government." (1) The 1945 Bretton Woods agreement was unilaterally smashed. <snip>

Currently, almost all the world's oil is sold on either the NYMEX, New York Mercantile Exchange, or the IPE, London's International Petroleum Exchange. Both are owned by US citizens and both sell and buy only in US dollars. The success of the Iran Oil Bourse makes sense to Europe, which buys 70% of Iran's oil. It makes sense for Russia, which sells 66% of its oil to Europe. But worse for the US, China and India have already stated they are very interested in the new Iranian Oil Bourse.

If there is a tactical-nuclear strike on - deja-vu - `weapons of mass destruction' in Iran, who would bet against a certain Oil Exchange and more, being bombed too? <snip>

Continued at Link - Indymedia, UK

"There is one `solution' -- scrap the dollar and print a whole new currency for the US. This will destroy 66% of the rest of the world's savings/reserves in one swoop. Imagine the implications? Such are the desperate things now swimming around heads in the White House, Wall Street and Pentagon.

"Another is to do as Germany did, just before invading Poland in 1938. The Nazis filmed a mock Polish Army attack on Germany, to win hearts and minds at home. But again, this is a finger in the dam. So, how is the US going to escape this time? The only global arena of total superiority left is military. Who knows what horrors lie ahead. A new world war is one tool by which the US could discipline its `allies' into keeping the dollar in their vaults.

(snip)

"The new Iranian Oil Bourse, the IOB, is situated in a new building on the free-trade-zone island of Kish, in the Persian Gulf. It's computers and software are all set to go. The IOB was supposed to be up and running last March, but many pressures forced a postponement. Where the pressure came from is obvious. It was internationally registered on 5th May and supposed to open mid-May, but its opening was put off, some saying the oil-mafia was involved, along with much international pressure. Just google `pertroeuro', and the story lies before you.

"From now on, anyone in the know will wake up every morning and, even before coffee, will check out the latest exchange rate between the euro and dollar."

Ok. Would folks who know more than I about all this pls critique? And pls tell the rest of us what the heck to do.

If this happens in the next 6 months, I say, SPIN THIS Faux "news!":hurts: :hide:

will do this for about a year. So why isn't it up and running?

Michael Ruppert's site www.fromthewilderness.com

and www.informationclearinghouse.info/

and elsewhere (like the asia times)

have detailed the progress of the creation of the Iranian oil bourse and the Russian Oil bourse and, I believe, the push to create one for Norway as well. Also note the Shanghai Cooperative and what that is going to do to the US attempts to achieve global economic and military hegemony.


Yes, dear folks, the dollars is beginning its precipitous slide into ignominy.

Get your ducks in a row.

...metals keep going up? :think:

And I love how the MSM says, "We can't figure out why this is, the U.S. Economy is 'growing at a good pace'" blah blah blah...