November 18, 2007

Iran nukes the US dollar at OPEC meeting


Cheney isn't gonna like this one!

Meanwhile, Ahmadinejad has a point - the US is taking the oil, and leaving behind little green IOUs. At one point, the suckers wake up.

This is gonna get ugly.


Ahmadinejad: OPEC Members Interested in Converting Cash Reserves Into Non-Dollar Currency


RIYADH, Saudi Arabia (AP) -- Iranian President Mahmoud Ahmadinejad said Sunday that OPEC's members have expressed interest in converting their cash reserves into a currency other than the depreciating U.S. dollar, which he called a "worthless piece of paper."

"They get our oil and give us a worthless piece of paper," Ahmadinejad told reporters after the close of the summit in the Saudi capital of Riyadh. He blamed U.S. President George W. Bush's policies for the decline of the dollar and its negative effect on other countries.

"All participating leaders showed an interest in changing their hard currency reserves to a credible hard currency," Ahmadinejad said. "Some said producing countries should designate a single hard currency aside from the U.S. dollar ... to form the basis of our oil trade."

66 comments:

Peter said...

Look for the bombs to fly. This is getting uglier by the day. The gas fairies may not be visiting your neighborhood Valero. There will be no soft landing here. Is anyone out there paying attention, or is Sunday football on?

Anonymous said...

this is terrible !!!!!


United States Enemies have put a flash light on our greatest weakness to the world. This will hurt us Bad.

Anonymous said...

I wish Beowolf could save us !!!!

borkafatty said...

http://news.yahoo.com/s/ap/20071118/ap_on_bi_ge/opec_10;_ylt=AuAm7RRcSQa2eqarxSQsoAME1vAI


Yup and will all due respect keith..the dollar is Fu@KED!

Anyone here Taps?

Anonymous said...

The questions now is - Will US Federal Reserve raise interest rate to support the US Dollar or will US Federal Reserve lower interest rate to save the US brokerage firms and risk a US Dollar free fall.

Remember Saudi Prince Alwaleed bin Talal is the largest individual investor of one of US brokerage firm "Citigroup."

Prince Alwaleed owns around 95 per cent of Kingdom, which in turn owns 3.6 percent of the U.S. banking giant, and with a reeling subprime mortgage losses and the global credit crisis a US Dollar free fall would not be in Prince Alwaleed interest.

"I will sell nothing. We are selling nothing," Prince Alwaleed was quoted as saying by Fortune magazine of the largest US bank.

However, many Gulf Nations are not in the same situation as Prince Alwaleed, so you could understand why Saudi Arabia's foreign minister even warned that even talking publicly about the currency's decline could further hurt its value.

If on the other hand if Citigroup, were to fall faster and can not recover from it SIV lost, then will Prince Alwaleed be forced to take some lost and sell some of his shares.

If Prince Alwaleed were forced to sell his share of Citigroup then the US Dollar could fall very fast if US Federal Reserve do not raise interest rate.

On the other hand, if US Federal Reserve continues to lower interest rate to save the US brokerage firms then it could send a rift among OPEC members as they begin to understands that Saudi Arabia interest may not be in the best interest of all OPEC members.

This could other OPEC members to vote on tying oil to a basket of currencies causing a US Dollar free fall.

ohhhhhhhmyy said...

not only is the dollar becoming worthless, but the US wouldn't let China, for example, to buy US assets with dollars and the US also takes away dollars if they think you're a terrorist.

so I think OPEC, rightfully so, wants to diversify out of the dollar to get out from underneath the grip of imperial power.

Venezuela, for example, has stepped up trade using barter-- and banks can't trace or stop those transactions! I think it's a smart when "big brother" wants to be in the middle of everything.

Edgar said...

What took them so long? Sheesh, the maggots have been running this scam for thirty years!

Anonymous said...

The Iranian President is finding out what many Americans are finding out WORTHLESS PIECE OF PAPER

-Al Greenspan

Anonymous said...

Ohh Cheney, what will you do now? you took an oath to protect Americanos when you took office. I expect you to do something soon.

Anonymous said...

i heard the illegals are now demanding euro instead of dollars.

Who Knows said...

when this sh!t hits the fan, its gonna take out the fan.

Anonymous said...

People are rightfully waking up in the world, this is happening faster and faster now.

Anonymous said...

I think it is time to stockpile toilet paper, cigarettes and alcohol.
These will trade just like currency when the economy collapses.

Anonymous said...

Good for them. Hit the NeoCons where it hurts most - their wallets.

Even the Iranians know the US dollar is a worthless piece of trash and understand the value of hard currency. What's wrong with all the other morons that think hard currencies are out-moded or crazy.

OK, I will pay you 6% (Of Nothing) said...

The Fed should NEVER lowered the rate to bail out the housing scam to begin with. If anything... rates should have been raise twice over the last 6 months.The attempts to keep the crooks afloat will now bite every American right in the @SS. Thanks for nothing Uncle Ben.

upthecreek said...

not a good time to be US.....

bush's blunderf*ck lie said...

And all the people that voted for bush and cheney are now loosing thier investments, jobs and homes.

How tragic for America.

It's not funny.

*********************************

Bwwwwwaaaaaaaaaaaa!!!!!!!!!!!!!

Suckers!!!!!! I voted for Gore!

:) The Happy renter


PS. Bush = $754.2 TRILLION DOLLAR TRAGIC LOOSER!!!

PSS: Go Ron Paul! U-S-A, U-S-A!

47.2+ million strong and growing!

:D Vote to impeach bush and cheney today! Be AMERICAN!

Anonymous said...

The dollar is not governed by the oil market. The oil market is small compared to the FX market.

The dollar is governed by what happens with the central banks of US, Europe and China.

Halifax said...

"They get our oil and give us a worthless piece of paper"

_________________________________

Actually a 75-25 cotton-linen combination, made by the Crane Co (founder was a friend of Paul Revere), and whose use is supported/lobbied by cotton-growing states.

bobbyg said...

Here is what I believe will happen:

The FED is going to keep interest rates on hold to send a signal to the G7 and OPEC that we will, ostensibly, defend the dollar.

At the same time, the FED will: continue to goose the money supply (currently running at 14% YOY) through open market operations and; will start taking some of the toxic debt in the SIVs as collateral so the banks can roll over their short term borrowing.

None of this will be lost on the commodities markets will continue to soar but it just might be enough to keep the dollar from plummeting.

Anonymous said...

In reality the Euro is not far behind the Dollar in terms of tanking. That said my money is currently on the Euro till the crap flies there. Then I will find a better currency. Gold? When they accept it at the grocery store we can talk.

Anonymous said...

You have to keep in mind what is going on.

In particular, Venezuela. There is a lot of blustering going on with Chavez at the moment. Not only against Bush but the Spanish too. The whole king Juan Carlos saying shut up etc. What is really going on is Chavez is prepping the domestic political agenda. This is for the upcoming vote that will essentially gut the constitution in Venezuela giving Chavez permanent status and granting him dictatorial powers. Probably the first step towards full blown communism in the country.

I think the Iranian version of chimp has the entire state apparatus behind him already and no public to really deal with. He's got the mullah's nod.

At the end of the day, everyone who owns a car in the US is going to use dollars to buy the oil. So, its blustering politics...

Roccman said...

Bwhahahahahahhahahahahah!!!

Bucky is dead!

www.dieoff.com

Anonymous said...

We're screwed.
Ben, what ya gunna do?

Anonymous said...

Hellicopter Ben will start throwing money from the sky to keep the dollar solvent.

In a way he will save us and kill us at the same time. It will be sorta like how OJ loved Nicole.

Anonymous said...

Look for the bombs to fly. LMAO

If Ahmenijad doesn't shut the f%*k up, the bombs will fly. Doesn't he realize how threatening his statements are to the petrodollar?

W.C. Varones said...

Au contraire. Cheney has been betting against the dollar for years!

Anonymous said...

Iran and Venezuela speak frankly about the dollar at an OPEN meeting, broadcast live by mistake. Oops!

Guardian Article

Andrew Hac said...

So let's look at our Sunday night football score so far:

# Iranian President Mahmoud Ahmadinejad: 7 (TD)

# Americano President DUBYA SHRUB: 0 (2 fumbles)

Heeeee, heeeee, heeeee

Come on ! Where is our SUV, Big-Ass Ford-350 Patriotic Americano ?

Let's stand up and shout: Hooray, Long Live Shrub ! Man, Dude, where is the spirit that I see every day on the street in the truck and SUV bumpers ???

Anonymous said...

Uh Keith, you're behind the curve on this one.

Though Cheney's assets are in a blind trust, it was divulged several years ago they are in "inflation-protected" investments. Cheney could give a rats a$$ about how far the dollar crashes/hyperinflation.

Anonymous said...

the US can no longer afford to go to war with all countries that no longer want to sell oil for US dollars.

won't be as easy as the raid they did on the Liberty Dollar headquarters here in the US. apparently, it's not okay to barter with things that actually have value, especially if Dr. Paul happens to be on them.

disillusioned at birth said...

Pricing units don't matter. Where people hold their reserves matters. Check out:

http://globaleconomicanalysis.blogspot.com/2007/11/oil-pricing-unit-red-herring.html

or: http://tinyurl.com/2gxwc7

for a more eloquent description...

Anonymous said...

I don't know that a falling US dollar (AKA rising oil price) plus falling share value of the largest US bank is a bad thing, in the long view, for someone like Prince Alwaleed. His oil revenues rise, at the same time that the cost to buy an increased stake in US financial institutions falls. He loses some book value in the short run, but in the long run, he can if he so chooses increase his financial influence in the USA.

Anonymous said...

We made our own enemy...Through the use of the embargo we actually made thme stronger because now they are not dependent on the Dollar...80% of their sales are in another currency...Now we want to act like they are bad for wanting to fuck us back?

Love my country, hate my government's foriegn policies.

Anonymous said...

The crooks on Wall Street are calling for more fools to buy into their manipulated rallies. Step forward, DOPES.

Nov. 19 (Bloomberg) -- Shareholders in the securities industry are having their worst year since 2002, losing $74 billion of their equity. That won't prevent Wall Street from paying record bonuses, totaling almost $38 billion.

That money, split among about 186,000 workers at Goldman Sachs Group Inc., Morgan Stanley, Merrill Lynch & Co., Lehman Brothers Holdings Inc. and Bear Stearns Cos., equates to an average of $201,500 per person, according to data compiled by Bloomberg. The five biggest U.S. securities firms paid $36 billion to employees last year.

Anonymous said...

Someone had one too many pints last night, or got bloody lucky...or both.

arrest bush and cheney said...

A $200,000 bonus to wall streeters?

Man, oh man, are we fvcked.

The United States of America
1776 - 2001

Budvar said...

"Gold? When they accept it at the grocery store we can talk."

When did walmart start accepting ruppees, roubles or dinars at the checkout?

mrmx said...

"Probably the first step towards full blown communism in the country."

the US has been a communist country for a while; like we don't have a Politburo. We'd love to think we have a democracy but we know that the elite love using monetary policy to put the masses into their place.

Anonymous said...

Duuh

Can you say NUCLER (the person running the country cannot), or is it NUCLEAR or... What the hell, just bomb 'em, you know, the ones with the beady eyes, beards and nightshirts... We'll make up the rest as we go along...
-The White House.

raynla said...

Well folks looks like we will be paying for our National ID Cards with Ameros.

Kieth will you be home in time to get yours?

RayNLA

Boom2Bust.com said...

You know things are bad when last month the central bank in Iraq said it wanted to diversify its reserves away from mostly U.S. dollars (no typo here- Iraq, which the U.S. has occupied since 2003).

http://boom2bust.com/2007/11/15/doubting-the-dollar/

brokersleaveyoubroke said...

Anon. said

Gold? When they accept it at the grocery store we can talk.

When you need some groceries you sell a little bit of your gold to get cash. Geez, how hard was that to figure out?

Anonymous said...

bush's blunderf*ck lie said...
And all the people that voted for bush and cheney are now loosing thier investments, jobs and homes.

How tragic for America.

It's not funny.


================

Whatever dude. I voted for him twice. I sold my house at the peak, walked away with more money than your socialist little ass will see in 10 years of working at Starbucks.

I have no job to lose since I work for myself. You see unlike you socialist scum I don't need someone else to provide for me. Never have never will. I employ 8 people. Can you say the same? What do you do all day other than bitch about Bush? Do you produce anything? Aside from hot air that is. That is why you need Hillary. You are too weak to make it on your own. You need a strong government to take care of you. You are a worthless piece of human filth that should have been aborted the second you were spawned.

Oh and it's LOSING not LOOSING you uneducated dolt.

Ron said...

Our leader fails in checkers, and others elected shrewd decisive chess masters. Can anyone seriously be surprised at this, may all those who voted for Bush or hacked the election in his favors suffer. And leave a legacy of suffering for their children and grand children. It is a far cry from the pain and suffering and destruction he has wrought on this Country and the rest of the world.

Real simple....worst President ever..I flip off all those fuk tards still running around with the Bush stickers.

Ron said...

Our leader fails in checkers, and others elected shrewd decisive chess masters. Can anyone seriously be surprised at this, may all those who voted for Bush or hacked the election in his favors suffer. And leave a legacy of suffering for their children and grand children. It is a far cry from the pain and suffering and destruction he has wrought on this Country and the rest of the world.

Real simple....worst President ever..I flip off all those fuk tards still running around with the Bush stickers.

borkafatty said...

Whatever dude. I voted for him twice. I sold my house at the peak, walked away with more money than your socialist little ass will see in 10 years of working at Starbucks.

I have no job to lose since I work for myself. You see unlike you socialist scum I don't need someone else to provide for me. Never have never will. I employ 8 people. Can you say the same? What do you do all day other than bitch about Bush? Do you produce anything? Aside from hot air that is. That is why you need Hillary. You are too weak to make it on your own. You need a strong government to take care of you. You are a worthless piece of human filth that should have been aborted the second you were spawned.

Oh and it's LOSING not LOOSING you uneducated dolt.

-----------

Please STFU! Oh and Bush and Cheney called for you...they said and I quote..." Don't forget the Strap on"...Dink!

bubbleglum said...

"Gold? When they accept it at the grocery store we can talk.

When you need some groceries you sell a little bit of your gold to get cash. Geez, how hard was that to figure out?"

Pretty hard for me. I live 28 miles from the nearest small town and probably 150 miles from the nearest coin dealer. So I just jump in my old 5 mpg pickup with some gold in my pocket when I need some cash and take a costly trip to the dealer. Or, I could mail in some gold to some far-off dealer and hope he's halfway honest, and wait a couple weeks while I starve, or . . .

Andrew Hac said...

Update: Monday 11/19/2007

DOW
-191.84 12,984.95 -1.46%

OIL(NYM)
+0.13 93.97 +0.14%

Yup, The Apocalypse is coming home to roost on the Americano land of the Con, the Greedy, the Self-Righteous Prick...

----- A justly pictorial metaphor:

The Americano is as toasted as a snapper turtle skewered on a stick sizzling and popping with all the juices dripping, burning hot over a bed of white hot charcoal.

Yup, as right as a dollar to a doughnut...

Americano = Toasted Snapper Turtle.

Anonymous said...

i am going to be the contrarian on this one. when dumba$$e$ like supermodels and former terrorist dictators stop taking dollars, it may be a good time to go long the USD

bush's blunderfu*k lie said...

RE: Whatever dude. I voted for Bush twice. I sold my house at the peak, walked away with more money than your socialist little ass will see in 10 years of working at Starbucks.

**********************************

My, my, my!

Under a little financial stress are we?

I'm sorry. Just because you hire 8 people and sold you crap house for a RIP-OFF SCAM illegal profit makes it OK to support a president and his regime who mass-murders Americans too?

Knowing that you voted for bush TWICE, says everything I need to know about you. Your type of scum will soon be leaving this earth.

So, I guess it's Ok to lie, cover-up 9/11, cheat, steal, scam, murder, commit fraud, injure and bully others until its time for you to go. And its OK to watch them do it (which is a crime to turn your back on others who commit crimes)

So what would you like now Mr. criminal?

A glass of milk and a cookie perhaps?

Looking for your next victim to screw?

**

Andrew from Russia said...

When the US dollar is no longer the world's petrocurrency, will it finally go Green?

Anonymous said...

Pretty hard for me. I live 28 miles from the nearest small town and probably 150 miles from the nearest coin dealer. So I just jump in my old 5 mpg pickup with some gold in my pocket when I need some cash and take a costly trip to the dealer. Or, I could mail in some gold to some far-off dealer and hope he's halfway honest, and wait a couple weeks while I starve, or . . .
------------------------------------

It will get easier if things keep getting worse. The grocery stores in rural locations will probably start accepting gold, though they won't give you as favorable terms in order to pay for the convenience of not having to drive 150miles.

Anonymous said...

OPEC FOOLS
the world is not facing a dollar collapse, but a collapse of the system as a whole, Lyndon LaRouche warned today. The entire system is going down--theirs included! A common problem, requires a common solution, rather than political exploitation of the dollar problem. Either you propose a workable replacement for the collapsed system, or you are being "reckless," he said.

Your Jewish Master said...

BORKAFATTY 5:38
"Please STFU! Oh and Bush and Cheney called for you...they said and I quote..." Don't forget the Strap on"...Dink!"

Is that really the best you can do? Jeez, you can throw down better than that!

I do love the screen name though.
I can't stop saying BORKAFATTY to myself five times in a row. I don't know why.

anon666 said...

Why do the Bush/Cheney apologists on this board always assume that you are a Hillary/Dem supporter if you criticize the BushCo Inc? Hillary and Pelosi and most of the Dems are the Repubs poodles.

2008 will be a major crash year (stocks, houses, dollars) and the prez will get the blame for the recession, that's just way it works. Historically, election years are pumped up but even BushCo Inc, FOX, MSN, NAR,and the rest of the spinners can't stop this train wreck.

My prediction-- expect Wag the Dog action on Iran a couple of weeks before the Nov 2008 election. Typical Neocon strategy, will Americans vote for Hillary when the U.S. is at war with Iran? I think not.

Anonymous said...

have no job to lose since I work for myself. You see unlike you socialist scum I don't need someone else to provide for me. Never have never will. I employ 8 people. Can you say the same? What do you do all day other than bitch about Bush? Do you produce anything? Aside from hot air that is. That is why you need Hillary. You are too weak to make it on your own. You need a strong government to take care of you. You are a worthless piece of human filth that should have been aborted the second you were spawned.

Well prey tell do you take a shower each day? Do you drive the highways, use electricity and gas?
Did you attend public school?

All these things Mr. Populist nitwit come to you courtesy of the United States Government.

Yeah, you are quite the stand alone hero.

Anonymous said...

Saudi Arabia's currency has been pegged to the US Dollar since Henry Kissinger, so if US Dollar goes down so does the Saudi Arabia's currency.

Unless Prince Alwaleed US asset is hedged against the falling US Dollar his US asset will go down with the US Dollar.

However, Crude Oil is a great hedge against the falling US Dollar, until it get to breaking point were raising gas price start effecting US Inflationary Expectation, then it become a race of controlling inflation at Saudi Arabia Verses controlling inflation at the US.

The two will feed on each other until something or someone gives.

Anonymous said...

Starbucks won't accept $100 bills because so many of the counterfeit bills can pass the pen and uv test. But they will accept a $5 nugget of marijuana if you're discreet.

Anonymous said...

I live 28 miles from the nearest small town and probably 150 miles from the nearest coin dealer. So I just jump in my old 5 mpg pickup with some gold in my pocket when I need some cash and take a costly trip to the dealer.

So you, my friend, are f*cked.

Anonymous said...

I have no job to lose since I work for myself. You see unlike you socialist scum I don't need someone else to provide for me.

Sure, we know, your job is to lick the GOP boots by working as a Bushbot out of your home, and in the past you used to wipe Karl Rove's disgusting and overpounded a$$. How can you be so low? How can you look your kids in the eyes?

Anonymous said...

Whatever dude. I voted for him twice. I sold my house at the peak, walked away with more money than your socialist little ass will see in 10 years of working at Starbucks.

It hit home, huh? Ladies & gentlemen, even the GOP slaves are loosing it, getting financially screwed by their own evil masters. bwahahahaha. I love it. You Republican crooks need nothing less than a cancer in the rectum to die agonizing and broke.

Anonymous said...

I have no job to lose since I work for myself. You see unlike you socialist scum I don't need someone else to provide for me. Never have never will. I employ 8 people.

Yes, you work out of your over leveraged and foreclose home, and you employee 8 people. Sure, we believe you. Your employees must be your inbred cousin, your inbred and toothless brother in law, your dog...Dude, you are bankrupt and nobody from the GOP gives a dam about your hick and pathetic life, wake up!

Anonymous said...

Whatever dude. I voted for him twice.

I'm dumb and I'm proud of it!

You gotta love these inbreds...

Anonymous said...

Hey Andrew Hac, enough with the meaningless analogies involving turtles.

You sound like a chink. If you are, just keep preparing our Kung Pao Chicken in the kitchen or dry cleaning our laundry, where you belong. BTW, nice telemarketing name you chose, "Andrew".

Man, it's just sad when these chinks try to fit in with the western world, isn't?

Andrew Hac said...

Bush + Cheney = Two heads on a dick stalk !

And the Americano voted for these two HEADS not once but twice. How stupid can you get ? The answer: Not once but twice !!!