Dollar Keeps Falling ...

[nathanael]

The dollar keeps falling steadily. This month, my Social Security check was less by 100 dollars. This was the largest cut in a single month. It has been like this each month, but to a lesser extent. There was a recent interview (I think BBC) with the off-going Italian Minister of Economy and he spoke horrible things about the "corpse of capitalism" -- America's, not the European Union's. I bring this up because it is my understanding that the Americans are being kept in the dark on how terrible the situation of the dollar is becoming. It would be nice if you commented on this topic more often, for it is being screened out from the American people, but is on the lips of the world! It's scary and nauseating, the stuff we hear in Poland! (I still am looking for the name of that minister of economy (starting with "S"; ending with an "a."). He was presented by the interviewer as "the mastermind behind the euro." He is the outgoing minister that has now been replaced by another. (Sciavinia, or something). But the things he said need to be brought to the open! He squarely blamed the wrongheaded American policies for then destruction of the dollar. He spoke with conviction, and stood his ground, even if the British interviewer was very hard on him. But even he, one of the great economists of the contemporary world, sounded bevildered to some extent, unable to pinpoint the exact cause. For the fact remains: the only true reason for the demise of the dollar has been the globalization, which caused China and India to have such demand for oil, that the OPEC, rightly so, saw a golden opportunity, and began the permanent policy of raising the price per barrel ..., until that time when the dollar bankrupts, and America bankrupts with it! This will be a monumental victory for our former enemies, Russia and China! It is sad to say these things, but the disaster is in the making unless a miraculous cure is soon found!

[nathanael]

On reflection, if oil is the locomotive of the material world, a decoupling of oil from futures markets is a preferable option to the inevitable future oil wars! It is my conviction, therefore, that the world should support this solution. President Bush ought to initiate an urgent consultation in the United Nations to that effect. For it is clear that the demand for oil will continue to raise to catastrophic levels causing immense damage to hundreds of nations! The hunger that will result with the astronomic fuel costs should be enough incentive to take this measure now! If there will be lawsuits, so be it: lawsuits are better than hunger and wars! Instead of OPEC and a few other gangsterly types, the oil must be controlled jointly by the whole world! A world Ministry of Oil can be created, to keep the price of this vital commodity under control!

[Atlantis5]

Jun 6, 2008 13:03:32 GMT -7 nathanael said:

On reflection, if oil is the locomotive of the material world, a decoupling of oil from futures markets is a preferable option to the inevitable future oil wars! It is my conviction, therefore, that the world should support this solution. President Bush ought to initiate an urgent consultation in the United Nations to that effect. For it is clear that the demand for oil will continue to raise to catastrophic levels causing immense damage to hundreds of nations! The hunger that will result with the astronomic fuel costs should be enough incentive to take this measure now! If there will be lawsuits, so be it: lawsuits are better than hunger and wars! Instead of OPEC and a few other gangsterly types, the oil must be controlled jointly by the whole world! A world Ministry of Oil can be created, to keep the price of this vital commodity under control!

In as much as I would enjoy to agree with you Nathanael, I simple would not dare.

The oil of OPEC countries {rather they are democratic or not} is owned by the respective nation, it is their product until sold in the market place. It is to the purchaser/seller to the agreed upon price as of any commodity.

For creation of a World Ministry of Oil. Are we speaking of a total control of world oil supples?

This would be a wonderful opportunity for world domination through energy holdings. For all production/currant and future, would be under one roof.

As the word {in-slavery} is dated, a word of usury or tribute paid for use of a specified amount of oil. If tribute is not received, then in-place of said, service must be performed to the World Ministry of Oil.

World domination under any name is still, world domination.

Perhaps I am very wrong and are on the wrong page in the wrong book.

What would be your input?

Charles

[nathanael]

The answer is simple. "Domination" never even crossed my mind when I wrote what I wrote! Domination sounds like "dog eats dog" mentality. It's ugly and oppressive, and unacceptable. This has not been my mentality ever since the time I became a Catholic! What I meant, is a benign Ministry, giving hope to the world, not "domination." I meant this in the spirit of John Paul II's encyclicals Sollicitudo rei socialis and Laborem exercens." There is a huge difference between the two! We can control evil (hope), and we can control good (domination). You obviously took it in the latter sense. We control pedophilia on the internet (that's a futures market of sorts). We work against the proliferation of atomic-related technology, which could legitimately be dimmed a futures commodity. We fight against Brasil selling its timber resources on the futures market, ignoring that country's pleas that "it's their product all right, and theirs right to sell it on the market." We do not do these things "to dominate," but to intelligently control for the good of the world! We do not call this "a total control of pedophilia market, the atomic industry market, or the world timber resource commodity"! We call it a vital necessity for the world! Now I ask: Is not oil at reasonable prices a vital necessity to 150 or so nations right now and for years to come? It is! Millions are in danger of starvation because of "market-priced oil"! Economies and currencies are in danger of collapsing! So I say, lets create a multinational, ethical Entity - a Ministry of Oil - that serves the world, not "dominates the world! If we do not hesitate to control Brasil's right to sell timber, for the sake of atmosphere, why are we reluctant to control oil prices which threaten with starvation and death millions of living human beings? For me, air is less important than people!

[nathanael]

Asian Powers, U.S. Voice Serious concern" on oil spikes The following article has just gotten off the wires: AOMORI, Japan (AFP) - The United States and Asia's four largest powers voiced "serious concern" Saturday about a record spike in oil prices but vowed to keep scaling back politically sensitive fuel subsidies.

ADVERTISEMENT

Oil prices, which have soared five-fold since 2003, posted their highest ever one-day gain of 10.75 dollars to close at a new record of 138.54 dollars in New York after hawkish remarks by an Israeli official on oil producer Iran.

Senior officials from the United States, Japan, China, India and South Korea said in a joint statement after talks in Aomori, Japan that they "share serious concerns" about the current level of oil prices.

"These prices are unprecedented and against the interest of both consuming and producing countries. They pose a great burden -- particularly on resource-scarce developing countries," it said.

US Energy Secretary Samuel Bodman warned oil producers that it would do them no good if the US economy took a hit.

"It's not good for producing nations to see the US struggling economically (as) they depend on us to be a significant engine in world economic activity," Bodman told reporters.

Despite the political sensitivity, the joint statement called for a scaling down of fuel subsidies, saying it would "enhance energy efficiency " and lead to investment in alternative energy.

Developing economies tend to heavily subsidise fuel costs in a bid to ease the burden on the poorest members of society.

India and Indonesia have recently been forced to hike prices amid soaring global crude oil costs, triggering large anti-government demonstrations in the two countries.

India's oil minister, Murli Deora, cancelled his attendance at the talks in Japan at the last minute due to "domestic reasons," a Japanese official said on condition of anonymity.

India was represented by its ambassador to Japan, Hemant Krishan Singh, who joined talks with the four countries' ministers.

"We recognise that, moving forward, phased and gradual withdrawal of price subsidies for conventional energies is desirable," the joint statement said.

They said that subsidies "should be replaced wherever possible by better targeted policies for intended beneficiaries."

The talks will be followed Sunday by a meeting of the energy ministers of the Group of Eight industrial powers here in Aomori, a hub of Japan's nuclear energy industry 600 kilometres (370 miles) north of Tokyo.

Japan's energy minister Akira Amari, the chair of the meeting, said that rising oil prices were "a major risk factor" for the world economy.

Meeting with South Korea's Knowledge Economy Minister Lee Youn-Ho, Amari said he believed crude oil prices were "abnormally high."

"We want to issue a message on this to the world," Amari said.

Lee added: "I don't think the oil prices are at normal levels either. It is fairly questionable whether the world economy will be able to develop further at this level of crude oil prices."

Soaring oil prices have been blamed on a variety of factors including turbulence in the Middle East and rising consumption by emerging economies such as China and India.

Analysts said the sharp spike overnight was a reaction to reported remarks by Israeli Deputy Prime Minister Shaul Mofaz on Iran, a major oil producer.

Mofaz, a former defence chief, warned that the Jewish state would attack Iran if it continued its alleged nuclear weapons drive, although he stressed such an operation could only be conducted with US support.

Despite the spike, Bodman said he did not see oil prices as a "crisis" and denied the need for tighter regulations of oil markets as sought by some US lawmakers.

- Dow Jones Newswires contributed to this story -


PS: Doesn't this article reinforce my point that the time has come to control these "spikes"? Nathanael

[Atlantis5]

Jun 7, 2008 1:16:27 GMT -7 nathanael said:

The answer is simple. "Domination" never even crossed my mind when I wrote what I wrote! Domination sounds like "dog eats dog" mentality. It's ugly and oppressive, and unacceptable. This has not been my mentality ever since the time I became a Catholic! What I meant, is a benign Ministry, giving hope to the world, not "domination." I meant this in the spirit of John Paul II's encyclicals Sollicitudo rei socialis and Laborem exercens." There is a huge difference between the two! We can control evil (hope), and we can control good (domination). You obviously took it in the latter sense. We control pedophilia on the internet (that's a futures market of sorts). We work against the proliferation of atomic-related technology, which could legitimately be dimmed a futures commodity. We fight against Brasil selling its timber resources on the futures market, ignoring that country's pleas that "it's their product all right, and theirs right to sell it on the market." We do not do these things "to dominate," but to intelligently control for the good of the world! We do not call this "a total control of pedophilia market, the atomic industry market, or the world timber resource commodity"! We call it a vital necessity for the world! Now I ask: Is not oil at reasonable prices a vital necessity to 150 or so nations right now and for years to come? It is! Millions are in danger of starvation because of "market-priced oil"! Economies and currencies are in danger of collapsing! So I say, lets create a multinational, ethical Entity - a Ministry of Oil - that serves the world, not "dominates the world! If we do not hesitate to control Brasil's right to sell timber, for the sake of atmosphere, why are we reluctant to control oil prices which threaten with starvation and death millions of living human beings? For me, air is less important than people!

Nathanial

I was not to place words into your mouth, this for sure! For you are a decent man of honour.

Our situation as a historical note. Is not so good. For through out the centuries in respect to leadership of our various societies have been prone to a disease named of: corruption/mis-use-of power and abuse of privilege of position. It is an innate flaw in our character make up as people.

For this reason, our governments have placed into effect certain departments, for specific use in detection and containment of situations deemed as an endangerment as a specific to that respective government. In as much to this, the maintaining of a standing military for protection to that of specific as a way of life.

For as present, the 3rd world nations of starvation is a very sad truth. But lays there another truth, those nations as of yet, possess nothing in power, as an endangerment to the advanced industrialized nations. It is to the remainder of powers as to what question of saturation of loss in resources they will absorb before the breaking point, of striking out with the weapons of war as a means of resolution, to gain that of what they wish for?

You and my self are not of the younger, we have seen and lived of many situations of this sort. You and my self are very well learnt of our home land of Europe. We have enjoyed the fruits of peace with the fruits of luxury. But, we both know and understand this is simply a fools paradise. For war will come once again to our land as a dragon breath of fire and death, for as it has come so many times in the past.

The most important situation for us as an individual, is always to be on the winning side.

I once attempted to impart to our friend, Pawain of this concept, and he rejected out of hand. I was to make the mistake of introducing to him the power of old families as the foundation of our respective governments. I will not make that same mistake.

We as individuals, should never equate of others, our sense of justice and honour. For that is too us to judge for our selves.

Good will always prevail, but in doing so, good must be very careful and some what devious.

Charles