Bro. Erle Frayne Argonza y Delago
Good afternoon, Fellows on Earth!
As already presented by this writer/analyst in my previous notes and articles, the current state of affairs of the global economy—which featured the inflationary upswings in the food and energy sectors—have a great deal to do with the machinations of the global financiers or oligarchy.
Across the ideological and paradigm streams, there has been the preponderance for speculations by the same financiers and subalterns that have been the main upward driver of prices in oil and food. The very same operators were also responsible for the temporary upswing in the price of the US dollar which remains as the chief legal tender for exchanging oil.
Below is an article from the Executive Intelligence Review that authenticates to a large degree the positions I took so far regarding oil and food.
[Writ 01 July 2008, Quezon City, Manila]
LaRouche: British Are Behind Food and Energy Hyperinflation
June 22, 2008--This release was issued on June 22 by the Lyndon Larouche Political Action Committee (LPAC).
Lyndon LaRouche today forcefully denounced Prince Philip and his fellow genocidalists in the Anglo-Dutch oligarchy, for willfully promoting the food and energy hyperinflation, which threatens to kill billions of people around the globe. "You cannot understand the current hyperinflationary crisis," LaRouche charged, "without first considering Prince Philip and the late Prince Bernhard's stated committment to wipe out 80% of the human population, through a combination of wars, diseases and famine. If Prince Philip, and his slavish followers like Al Gore were to succeed, the population of the planet would be reduced, in the next several generations, to well-under two billion people."
LaRouche was responding to news reports, in the past 24 hours, that the combined food and energy hyperinflation, has created a global national security crisis, threatening the survival of such leading nations as China, India, Indonesia, Malaysia, Pakistan, Zimbabwe, Morocco, and Egypt. "I warned, months ago, that the food crisis would soon emerge as the number one issue facing every government in the world," LaRouche commented. "The combined shock of $140 a barrel oil and food hyperinflation and shortages, willfully promoted by Anglo-Dutch speculators and their oligarchical backers, has thrown the world into an immediate crisis."
On Sunday, June 22, representatives of the world's leading oil producing and oil consuming countries will meet in Jeddah, Saudi Arabia, to consider actions to deal with the crisis. Over 40 nations around the globe have been rocked by food riots and other protests over the hyperinflationary crisis, and the worst shocks, LaRouche warned, are coming during the immediate summer months ahead. "By the time we reach October," LaRouche warned, "the situation will be catastrophic."
"There are remedies, even at this late date, to deal with the energy and food hyperinflation," LaRouche continued, "but nothing is going to work unless and until we crush the power of the British oligarchy." LaRouche asked: "Do you really think that Saudi Arabia is going to cooperate, so long as their BAE ties to London remain intact—even if the very survival of the Saudi Royal Family is at stake?"
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Showing posts with label financier oligarchy. Show all posts
Showing posts with label financier oligarchy. Show all posts
Friday, July 04, 2008
Tuesday, July 01, 2008
21ST CENTURY’S PLAGUE: COMMODITY SPECULATION
Bro. Erle Frayne Argonza
Speculation, more speculation!
Speculation has driven food prices up, and is now driving gas prices up as well. It is a core feature of the ‘virtual economy’ based on predatory finance, the main game of the global financier oligarchs who are now in practical control of the world’s strategic economic sectors.
Commodity speculation is getting to be a ‘plague of the 21st century’ as claimed by a noblesse gentlaman from Europe, Italian Economics Minister Giulio Tremonti. How to stump out this plague is the greatest challenge facing mankind right now, at a time of recession in the Northern economies, recession that threatens to intensify into a global financial meltdown.
Below is an article from the Executive Intelligence Review that sums up the plague of the century. You may as well participate in the debates on how to curb it and reverse the global trend of financial madness.
Writ 30 June 2008, Quezon City, MetroManila]
Tremonti: Commodity Speculation Is `The Plague of the 21st Century'
June 23, 2008 (EIRNS)—Italian Economics Minister Giulio Tremonti, an outspoken advocate of convening a New Bretton Woods conference, gave a speech in front of a meeting of the Italian trade union CISL, on June 22, calling on the trade unions to join him in the fight against the real causes of oil and food price increases: "international speculation."
According to the daily Il Messaggero, Tremonti called "surrealistic" his own government's plan, which projects a "planned inflation" of 1.7%. The reasons for that, he said, "are two. The first one is technical, the second one is political. The first one, everybody can get by calling the ECB, which demands to set an inflation rate under 2%."
Tremonti gave the real ECB telephone number. "It is wrong to speak about inflation today. For at least the last six months, we should have been talking about speculation. International speculation was first financial speculation and in the past period, after some disasters, focussed on commodities, starting with oil." Therefore, either you fight a local battle, with old methods and old perspectives, or you fight a global fight, where you fight Public Enemy Number One: speculation.
"Speculation is the plague of this century, a specter that we knew would come, but not in this way and not so fast. Inflation can no longer be explained with the simple laws of supply and demand," Tremonti continued. He then attacked the left, because "in the Left camp, there are speculation managers who have been accustomed to smoke cigars and sail on yachts, and therefore the Left does not talk about speculation." The head of the leftist CGIL trade union, Epifani, protested. If what Tremonti says is true, he was asked, why does the government write the draft budget plan based on those figures? The draft, demanded by the EU, "is a surrealistic document of no use," Tremonti said.
The Anglo-Dutch financial oligarchy is realizing that Tremonti is becoming more and more of a threat. That might be the reason why the Financial Times today published a belated review of Tremonti's book Fear and Hope, saying in its headline, "Tremonti's Best-seller on Fear Strikes Chord." The review reports that Tremonti's actions are gaining popularity and support in Italy, and profiles his book from its weakest sides (anti-China, fortress Europe, etc.), but it does say that he calls for "a new, far-reaching Bretton Woods system," for "a strong state" and "deplores the left-wing protest movements of 1968."
Speculation, more speculation!
Speculation has driven food prices up, and is now driving gas prices up as well. It is a core feature of the ‘virtual economy’ based on predatory finance, the main game of the global financier oligarchs who are now in practical control of the world’s strategic economic sectors.
Commodity speculation is getting to be a ‘plague of the 21st century’ as claimed by a noblesse gentlaman from Europe, Italian Economics Minister Giulio Tremonti. How to stump out this plague is the greatest challenge facing mankind right now, at a time of recession in the Northern economies, recession that threatens to intensify into a global financial meltdown.
Below is an article from the Executive Intelligence Review that sums up the plague of the century. You may as well participate in the debates on how to curb it and reverse the global trend of financial madness.
Writ 30 June 2008, Quezon City, MetroManila]
Tremonti: Commodity Speculation Is `The Plague of the 21st Century'
June 23, 2008 (EIRNS)—Italian Economics Minister Giulio Tremonti, an outspoken advocate of convening a New Bretton Woods conference, gave a speech in front of a meeting of the Italian trade union CISL, on June 22, calling on the trade unions to join him in the fight against the real causes of oil and food price increases: "international speculation."
According to the daily Il Messaggero, Tremonti called "surrealistic" his own government's plan, which projects a "planned inflation" of 1.7%. The reasons for that, he said, "are two. The first one is technical, the second one is political. The first one, everybody can get by calling the ECB, which demands to set an inflation rate under 2%."
Tremonti gave the real ECB telephone number. "It is wrong to speak about inflation today. For at least the last six months, we should have been talking about speculation. International speculation was first financial speculation and in the past period, after some disasters, focussed on commodities, starting with oil." Therefore, either you fight a local battle, with old methods and old perspectives, or you fight a global fight, where you fight Public Enemy Number One: speculation.
"Speculation is the plague of this century, a specter that we knew would come, but not in this way and not so fast. Inflation can no longer be explained with the simple laws of supply and demand," Tremonti continued. He then attacked the left, because "in the Left camp, there are speculation managers who have been accustomed to smoke cigars and sail on yachts, and therefore the Left does not talk about speculation." The head of the leftist CGIL trade union, Epifani, protested. If what Tremonti says is true, he was asked, why does the government write the draft budget plan based on those figures? The draft, demanded by the EU, "is a surrealistic document of no use," Tremonti said.
The Anglo-Dutch financial oligarchy is realizing that Tremonti is becoming more and more of a threat. That might be the reason why the Financial Times today published a belated review of Tremonti's book Fear and Hope, saying in its headline, "Tremonti's Best-seller on Fear Strikes Chord." The review reports that Tremonti's actions are gaining popularity and support in Italy, and profiles his book from its weakest sides (anti-China, fortress Europe, etc.), but it does say that he calls for "a new, far-reaching Bretton Woods system," for "a strong state" and "deplores the left-wing protest movements of 1968."
Saturday, June 28, 2008
FATTENING FINANCIERS’ PURSES: WHY WARS HAPPEN
Bro. Erle Frayne Argonza y Delago
Wars fatten financiers’ purses. This has been an established fact, a modus operandi of abominable usurers since the time of the Greek and Italian city-states yet.
The modus is simple, though complex in their implementation. The financier oligarchs, planning behind the scenes, would identify sources of potential conflict, reasons for launching them, and then finance war machines on both sides of the competing parties. Whoever wins hardly matters at all, what matters is that the financiers win all of the time.
This was experimented early during the time yet of the Greek city-states. At the height of its glory, Athens’ oligarchs decided to go on ceaseless war operations that were funded by them, with the aim of course of cashing on the efforts thereafter. The result was the catastrophic Peloponnesian Wars and the Dark Age that followed thereafter and drastically ended the historic Homeric golden age.
The same pattern can be observed in the launching of the Crusade wars. Venice provided the logistics, while Normandy provided the main warfront assets. The result was the Dark Age of that epoch, accompanied by bubonic plagues, depopulations, and Inquisitorial genocides. It took two hundred (200) years of Renaissance (Western renaissance for that matter) in order to get the West out of that rut.
Fast forward to the 20th century, the similar pattern of oligarchic machinations created monsters on both camps of the West. Lenin and Trotsky, funded by the financiers, were entrusted with the mission of terminating the Russian tsar and creating the totalitarian dream of the Fabian socialists. Massive inputs of funds and technologies were then secretly infused in creating the industrial-military complex of the Stalinist regime, ready for its forthcoming mission of an apocalytic clash with the fascists.
The same oligarchic cabal then created the monster of fascism, both of Mussolini and Hitler. They funded the industrial-military complex of Germany in particular, and then waited in the wings for the world war II to happen. How could Hitler’s group of black magic occult paupers (see Germanenorden and Vril Society) ever rise to power and create a huge movement and war machine without massive funding from the oligarchs? And that oligarchy included the Vatican by the way.
The very same financier oligarchs created the military-industrial complex of the United States of America. The same oligarchic cabal enjoy, till these days, the privilege of undertaking armaments production without having to pass through bidding procedures. So much rent-seeking takes place in the process, reeking colossal profits for the same oligarchic families.
The same families today control the financial flows of the globe. The British control 34% while Americans (control) 18%, thus bringing to 52% the control by the Anglo-Saxon oligarchs of total financial flows. Add the control by the Dutch, French, German, Venetian and Japanese, and you can see their almost total control of the world’s financial flows. (See derivatives controls in the Bank of International Settlements.)
Being in control of financial flows, it is most appropriate for the greedy financiers to foment frontier wars everywhere. Instant fireworks anywhere in the planet today instantly induce massive cross-border financial flows in that area of the planet. The resultant cross-border flows can then induce synchronic cross-border financial flows in the other continents for that matter.
This is what makes terrorist movements important for the financiers. Through the CIA, MI6 and related intelligence arms, terrorist movements can be constituted, funded, and then launched. The symphonies of terror attacks everywhere across the planet would be the most desired Wagnerian notes of the financiers, whose purses will fatten perpetually just by waging micro-conflicts in different countries.
Even nuclear arms have already been re-tooled and re-engineered by the military-industrial complexes of the oligarchy’s Northern hemisphere to adjust to frontier wars and micro-conflicts. The Balkans were the guinea pigs of the same weaponry arsenal way back in the 1990s yet, and the successes accruing on those experiences have emboldened military-industrial complexes to perfect the same weapons systems for present and future uses.
In my own country, I learned along the way that the insurgent movements here always had the hands of international intelligence units of the North at their very inception. The Maoist New Peoples’ Army had involved the CIA (agent Ninoy Aquino) in its founding and linkaging with the Communist Party of the Philippines (Maoist), and then infused with CIA agents in its hierarchy who maneuvered US arms to be used by them that came straight from the former military bases here. The Muslim insurgencies also involved American spies at their inception, and quid pro quo negotiations with Americans should the insurgents win in the south. The Abu Sayyaf was organized and trained by the CIA to serve as contingent Islam force against the pro-Soviet government of Afghanistan in the 1980s.
Documentations of British intelligence involvement in the formation of the Muslim Brotherhood of Egypt are classic case studies of the machinations of the oligarchy in the Arab lands. It is now history that the same brotherhood became the base for forming jihadists and mujahideens of many countries, involving both the Sunni and Shi’ite forces.
No matter what continent we may examine, we are always confronted with the machinations of the financiers in the mounting of wars and terror operations. Wars without end means fattened purses without end. That is how demonic the minds of the financiers are characterzied, purely greedy and demonic.
[Writ 22 June 2008, Quezon City, MetroManila]
Wars fatten financiers’ purses. This has been an established fact, a modus operandi of abominable usurers since the time of the Greek and Italian city-states yet.
The modus is simple, though complex in their implementation. The financier oligarchs, planning behind the scenes, would identify sources of potential conflict, reasons for launching them, and then finance war machines on both sides of the competing parties. Whoever wins hardly matters at all, what matters is that the financiers win all of the time.
This was experimented early during the time yet of the Greek city-states. At the height of its glory, Athens’ oligarchs decided to go on ceaseless war operations that were funded by them, with the aim of course of cashing on the efforts thereafter. The result was the catastrophic Peloponnesian Wars and the Dark Age that followed thereafter and drastically ended the historic Homeric golden age.
The same pattern can be observed in the launching of the Crusade wars. Venice provided the logistics, while Normandy provided the main warfront assets. The result was the Dark Age of that epoch, accompanied by bubonic plagues, depopulations, and Inquisitorial genocides. It took two hundred (200) years of Renaissance (Western renaissance for that matter) in order to get the West out of that rut.
Fast forward to the 20th century, the similar pattern of oligarchic machinations created monsters on both camps of the West. Lenin and Trotsky, funded by the financiers, were entrusted with the mission of terminating the Russian tsar and creating the totalitarian dream of the Fabian socialists. Massive inputs of funds and technologies were then secretly infused in creating the industrial-military complex of the Stalinist regime, ready for its forthcoming mission of an apocalytic clash with the fascists.
The same oligarchic cabal then created the monster of fascism, both of Mussolini and Hitler. They funded the industrial-military complex of Germany in particular, and then waited in the wings for the world war II to happen. How could Hitler’s group of black magic occult paupers (see Germanenorden and Vril Society) ever rise to power and create a huge movement and war machine without massive funding from the oligarchs? And that oligarchy included the Vatican by the way.
The very same financier oligarchs created the military-industrial complex of the United States of America. The same oligarchic cabal enjoy, till these days, the privilege of undertaking armaments production without having to pass through bidding procedures. So much rent-seeking takes place in the process, reeking colossal profits for the same oligarchic families.
The same families today control the financial flows of the globe. The British control 34% while Americans (control) 18%, thus bringing to 52% the control by the Anglo-Saxon oligarchs of total financial flows. Add the control by the Dutch, French, German, Venetian and Japanese, and you can see their almost total control of the world’s financial flows. (See derivatives controls in the Bank of International Settlements.)
Being in control of financial flows, it is most appropriate for the greedy financiers to foment frontier wars everywhere. Instant fireworks anywhere in the planet today instantly induce massive cross-border financial flows in that area of the planet. The resultant cross-border flows can then induce synchronic cross-border financial flows in the other continents for that matter.
This is what makes terrorist movements important for the financiers. Through the CIA, MI6 and related intelligence arms, terrorist movements can be constituted, funded, and then launched. The symphonies of terror attacks everywhere across the planet would be the most desired Wagnerian notes of the financiers, whose purses will fatten perpetually just by waging micro-conflicts in different countries.
Even nuclear arms have already been re-tooled and re-engineered by the military-industrial complexes of the oligarchy’s Northern hemisphere to adjust to frontier wars and micro-conflicts. The Balkans were the guinea pigs of the same weaponry arsenal way back in the 1990s yet, and the successes accruing on those experiences have emboldened military-industrial complexes to perfect the same weapons systems for present and future uses.
In my own country, I learned along the way that the insurgent movements here always had the hands of international intelligence units of the North at their very inception. The Maoist New Peoples’ Army had involved the CIA (agent Ninoy Aquino) in its founding and linkaging with the Communist Party of the Philippines (Maoist), and then infused with CIA agents in its hierarchy who maneuvered US arms to be used by them that came straight from the former military bases here. The Muslim insurgencies also involved American spies at their inception, and quid pro quo negotiations with Americans should the insurgents win in the south. The Abu Sayyaf was organized and trained by the CIA to serve as contingent Islam force against the pro-Soviet government of Afghanistan in the 1980s.
Documentations of British intelligence involvement in the formation of the Muslim Brotherhood of Egypt are classic case studies of the machinations of the oligarchy in the Arab lands. It is now history that the same brotherhood became the base for forming jihadists and mujahideens of many countries, involving both the Sunni and Shi’ite forces.
No matter what continent we may examine, we are always confronted with the machinations of the financiers in the mounting of wars and terror operations. Wars without end means fattened purses without end. That is how demonic the minds of the financiers are characterzied, purely greedy and demonic.
[Writ 22 June 2008, Quezon City, MetroManila]
Wednesday, June 18, 2008
RECESSION STAYS, SPIRAL POINTS TO GLOBAL MELTDOWN
Erle Frayne Argonza
The recession stay, the downward global economic spiral will continue for an indefinite time. This is the pattern that we can now see across the globe.
Stock markets have been crashing, going through a freefall for couples of months now. In Manila, the Philippine stock market is down at 2,500+ points as of this morning, or 800 points short of its best performance of 3,300+ late last year. The pattern is true in other stock markets as well.
One thing is clear: this is a global meltdown going on, and the spiral’s turn-around towards more positive gains in the succeeding months. Trillions of dollars have already gone down the drain, loses that may never be recovered again.
Many pockets are getting badly hurt, both from the fund-rich hedge funds and portfolio financiers to ordinary middle class investors. Just about two (2) years ago, everything was bullish in world stocks, most especially in Asia. That situation had since evaporated.
Unfortunately, the harbingers of liberal dogma are still banking on liberalization policies that have proved to be so bankrupt they are, in fact, the very cause of this global meltdown shaping up. The ‘virtual economy’ unleashed by liberalization resulted to looting sprees by fund managers and hedge fund operators, the same money that they partly utilize for corporate social responsibility.
Now the oil price hikes and currency market volatilities have compounded the recession. It’s just mid-2008 by the way, and there’s still the bombing of Iran that we all await as the non-surprise ‘surprise attack’ from neo-cons and Zionist fascists, which will guarantee higher prices for oil and better dollar leveraging power. This will come sooner or later.
Forecasting has been made simpler by anarchic events at this moment. There is no end in sight to the recession, oil prices will still move up, and the recession will lead to a deeper meltdown of the liberal financial-monetary system of casino-style looting by financier operators.
Better do some belt-tightening if you haven’t done this yet. Let’s continue to watch the horrible unfolding of events. Madness and unparalleled greed have shattered the financial-monetary system, the ‘virtual economy’ of predatory financiers.
[Writ 12 June 2008, Quezon City, MetroManila]
The recession stay, the downward global economic spiral will continue for an indefinite time. This is the pattern that we can now see across the globe.
Stock markets have been crashing, going through a freefall for couples of months now. In Manila, the Philippine stock market is down at 2,500+ points as of this morning, or 800 points short of its best performance of 3,300+ late last year. The pattern is true in other stock markets as well.
One thing is clear: this is a global meltdown going on, and the spiral’s turn-around towards more positive gains in the succeeding months. Trillions of dollars have already gone down the drain, loses that may never be recovered again.
Many pockets are getting badly hurt, both from the fund-rich hedge funds and portfolio financiers to ordinary middle class investors. Just about two (2) years ago, everything was bullish in world stocks, most especially in Asia. That situation had since evaporated.
Unfortunately, the harbingers of liberal dogma are still banking on liberalization policies that have proved to be so bankrupt they are, in fact, the very cause of this global meltdown shaping up. The ‘virtual economy’ unleashed by liberalization resulted to looting sprees by fund managers and hedge fund operators, the same money that they partly utilize for corporate social responsibility.
Now the oil price hikes and currency market volatilities have compounded the recession. It’s just mid-2008 by the way, and there’s still the bombing of Iran that we all await as the non-surprise ‘surprise attack’ from neo-cons and Zionist fascists, which will guarantee higher prices for oil and better dollar leveraging power. This will come sooner or later.
Forecasting has been made simpler by anarchic events at this moment. There is no end in sight to the recession, oil prices will still move up, and the recession will lead to a deeper meltdown of the liberal financial-monetary system of casino-style looting by financier operators.
Better do some belt-tightening if you haven’t done this yet. Let’s continue to watch the horrible unfolding of events. Madness and unparalleled greed have shattered the financial-monetary system, the ‘virtual economy’ of predatory financiers.
[Writ 12 June 2008, Quezon City, MetroManila]
Thursday, June 12, 2008
GAS PRICES STAY TO SAVE DOLLAR FROM COLLAPSE
Erle Frayne Argonza
Good afternoon from Manila!
Fellows of Planet Earth, better prepare yourself for the eventualities that have become a fact of life: high gas prices, and high food prices. Let me focus here on high gas prices, although gas and food are very much inter-related.
The good news for those workers and businesses that utilize the US dollar for their transactions is that the dollar will be quite strong for a time. My own forecast is that, over the next twelve (12) months at least, the strong dollar stays. The dollar is used to transact oil, remember, so you’d see its strength sustained for a time as oil price hikes will be the ‘event of the moment’ in the short run.
The dollar was actually already in the downward trend, moving rapidly towards a crash from middle of 2007 onwards. The US recession came, confidence in the dollar was low, and so the currency traders desired so strongly to unload as much dollar as they can before it would go up again.
To make things more hair-raising, the global financiers actually wanted the dollar to get crashed like smashed potato. The financiers’ problem last year was: which currency to substitute for the dollar given that Uncle Sam’s currency remains as the international legal tender, thanks to the Bretton Woods agreement that ensured this role for the same currency.
The options eventually narrowed down to just two: the (a) Euro or the (b) pounds sterling. Some quarters among the financiers were for the pounds sterling, and it seemed this dominated financier mindsets last year, though there were insiders who opted for the euro.
The next question was, granted that a currency option war clear, say that the pounds sterling will be the currency of the moment, will the volume of pounds across the globe suffice to make a sweeping decision to dump the dollar? The volume of dollars across the globe is simply gargantuan, it just isn’t that easy to play God with this currency.
Finally, at the end of the day, with speculators playing around to keep gas prices up, the forced decision was for the dollar to stay after all. This is, in fact, a revenge of Uncle Sam on those predatory forces who simply wish to play God with currencies and destroy national economies without compunction, no matter if many poor lives will be dead in their crashing effects.
On the other hand, Anglo-American oil men are having a field day as speculative trading has shifted to their side for some time, and will be so for at least twelve (12) months. The US dollar’s downward spiral has been put on hold for a time, and the said oil men will be happier by many folds in the months ahead as their purses will bloat to Glad Tidings.
Fellows, accept this as a fact of life: oil prices will be up. Prepare your necessary contingency measures as their effects will be upon you.
[11 June 2008, Quezon City, MetroManila]
Good afternoon from Manila!
Fellows of Planet Earth, better prepare yourself for the eventualities that have become a fact of life: high gas prices, and high food prices. Let me focus here on high gas prices, although gas and food are very much inter-related.
The good news for those workers and businesses that utilize the US dollar for their transactions is that the dollar will be quite strong for a time. My own forecast is that, over the next twelve (12) months at least, the strong dollar stays. The dollar is used to transact oil, remember, so you’d see its strength sustained for a time as oil price hikes will be the ‘event of the moment’ in the short run.
The dollar was actually already in the downward trend, moving rapidly towards a crash from middle of 2007 onwards. The US recession came, confidence in the dollar was low, and so the currency traders desired so strongly to unload as much dollar as they can before it would go up again.
To make things more hair-raising, the global financiers actually wanted the dollar to get crashed like smashed potato. The financiers’ problem last year was: which currency to substitute for the dollar given that Uncle Sam’s currency remains as the international legal tender, thanks to the Bretton Woods agreement that ensured this role for the same currency.
The options eventually narrowed down to just two: the (a) Euro or the (b) pounds sterling. Some quarters among the financiers were for the pounds sterling, and it seemed this dominated financier mindsets last year, though there were insiders who opted for the euro.
The next question was, granted that a currency option war clear, say that the pounds sterling will be the currency of the moment, will the volume of pounds across the globe suffice to make a sweeping decision to dump the dollar? The volume of dollars across the globe is simply gargantuan, it just isn’t that easy to play God with this currency.
Finally, at the end of the day, with speculators playing around to keep gas prices up, the forced decision was for the dollar to stay after all. This is, in fact, a revenge of Uncle Sam on those predatory forces who simply wish to play God with currencies and destroy national economies without compunction, no matter if many poor lives will be dead in their crashing effects.
On the other hand, Anglo-American oil men are having a field day as speculative trading has shifted to their side for some time, and will be so for at least twelve (12) months. The US dollar’s downward spiral has been put on hold for a time, and the said oil men will be happier by many folds in the months ahead as their purses will bloat to Glad Tidings.
Fellows, accept this as a fact of life: oil prices will be up. Prepare your necessary contingency measures as their effects will be upon you.
[11 June 2008, Quezon City, MetroManila]
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