Congressional Speech: The End of US Dollar Hegemony - New England Patriots Forums

***maverick4*** · 08-10-2006, 04:04 PM

February 2006 speech by Congressman Ron Paul before the US House of Representatives:
http://www.house.gov/paul/congrec/co...6/cr021506.htm

Short Excerpt:
Our whole economic system depends on continuing the current monetary arrangement, which means recycling the dollar is crucial. Currently, we borrow over $700 billion every year from our gracious benefactors, who work hard and take our paper for their goods. Then we borrow all the money we need to secure the empire (defense budget $450 billion) plus more. The military might we enjoy becomes the backing of our currency. There are no other countries that can challenge our military superiority, and therefore they have little choice but to accept the dollars we declare are today's gold. This is why countries that challenge the system-- like Iraq, Iran and Venezuela-- become targets of our plans for regime change.

Blue Collar · 08-10-2006, 04:12 PM

Quote:

Originally Posted by maverick4

February 2006 speech by Congressman Ron Paul before the US House of Representatives:
http://www.house.gov/paul/congrec/co...6/cr021506.htm

Short Excerpt:
Our whole economic system depends on continuing the current monetary arrangement, which means recycling the dollar is crucial. Currently, we borrow over $700 billion every year from our gracious benefactors, who work hard and take our paper for their goods. Then we borrow all the money we need to secure the empire (DOD budget $450 billion) plus more. The military might we enjoy becomes the backing of our currency. There are no other countries that can challenge our military superiority, and therefore they have little choice but to accept the dollars we declare are today's gold. This is why countries that challenge the system-- like Iraq, Iran and Venezuela-- become targets of our plans for regime change.

Very informative my friend, thank you for bringing this to the forum..

Blue Collar · 08-10-2006, 04:15 PM

Quote:

Originally Posted by maverick4

February 2006 speech by Congressman Ron Paul before the US House of Representatives:
http://www.house.gov/paul/congrec/co...6/cr021506.htm

Short Excerpt:
Our whole economic system depends on continuing the current monetary arrangement, which means recycling the dollar is crucial. Currently, we borrow over $700 billion every year from our gracious benefactors, who work hard and take our paper for their goods. Then we borrow all the money we need to secure the empire (DOD budget $450 billion) plus more. The military might we enjoy becomes the backing of our currency. There are no other countries that can challenge our military superiority, and therefore they have little choice but to accept the dollars we declare are today's gold. This is why countries that challenge the system-- like Iraq, Iran and Venezuela-- become targets of our plans for regime change.

Maverick I would like to expand on this valuable link you provided.
This is the meat of the war in my opinion...

All_Around_Brown · 08-10-2006, 04:16 PM

If we only had more Ron Pauls in Congress. Here's a guy who "gets it".

***maverick4*** · 08-10-2006, 04:21 PM

This is the real reason for Iraq, and soon Iran and Venezuela. WMD's and 'Spreading Freedom' are not the real reasons behind our foreign policy.

I have been trying to make this more well known for months now, and I was afraid that the links I provided were not 'legit' enough. I am glad to have come across this speech. A US House speech by a Congressman is about as legit as it gets, and he explains things very well in my opinion.

How long will countries like Japan remain willing to ship us their Hondas and Toyotas in exchange for our monopoly play money?

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Blue Collar · 08-10-2006, 04:26 PM

Quote:

Originally Posted by maverick4

I have been trying to make this more well known for months now, and I was afraid that the links I provided were not 'legit' enough. I am glad to have come across this speech. A US House speech by a Congressman is about as legit as it gets, and he explains things very well in my opinion.

How long will countries like Japan remain willing to ship us their Hondas and Toyotas in exchange for our monopoly play money?

.

You have a willing person in blue collar to engage in this discussion..

Lets build this thread with informative links and dialogue..

What do you say maverick, want to do it...We can converse politely and become more educated on the subject and be better people and more informed because of our decision to engage in this great topic..

Beats arguing over no win politics....What you say?

All_Around_Brown · 08-10-2006, 04:32 PM

Quote:

Originally Posted by maverick4

This is the real reason for Iraq, and soon Iran and Venezuela. WMD's and 'Spreading Freedom' are not the real reasons behind our foreign policy.

I have been trying to make this more well known for months now, and I was afraid that the links I provided were not 'legit' enough. I am glad to have come across this speech. A US House speech by a Congressman is about as legit as it gets, and he explains things very well in my opinion.

How long will countries like Japan remain willing to ship us their Hondas and Toyotas in exchange for our monopoly play money?

.

In 03, Saddam was threatening to sell his oil in Euros IIRC. Thus, he had to go. Any links on that?

THere it is:

In November 2000 Saddam Hussein demanded Euros for his oil. His arrogance was a threat to the dollar; his lack of any military might was never a threat. At the first cabinet meeting with the new administration in 2001, as reported by Treasury Secretary Paul O’Neill, the major topic was how we would get rid of Saddam Hussein-- though there was no evidence whatsoever he posed a threat to us. This deep concern for Saddam Hussein surprised and shocked O’Neill.

It now is common knowledge that the immediate reaction of the administration after 9/11 revolved around how they could connect Saddam Hussein to the attacks, to justify an invasion and overthrow of his government. Even with no evidence of any connection to 9/11, or evidence of weapons of mass destruction, public and congressional support was generated through distortions and flat out misrepresentation of the facts to justify overthrowing Saddam Hussein.

There was no public talk of removing Saddam Hussein because of his attack on the integrity of the dollar as a reserve currency by selling oil in Euros. Many believe this was the real reason for our obsession with Iraq. I doubt it was the only reason, but it may well have played a significant role in our motivation to wage war. Within a very short period after the military victory, all Iraqi oil sales were carried out in dollars. The Euro was abandoned.

***maverick4*** · 08-10-2006, 04:35 PM

Blue Collar, sounds good. Glad you have also seen the light.

All Around Brown - in his speech, Congressman Paul pointed out how Iraq changed to the Euro in 2000 (first country in the world to shift from the dollar), and after their government was immediately toppled, the US changed their oil currency back to the dollar. It's an interesting coincidence.

What is more interesting is how Iran plans to launch an oil trading platform in Euros. It is almost hilarious how closely connected their announcement was with American rhetoric against Iran. Read the link below for more details.

http://www.energybulletin.net/2913.html

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Blue Collar · 08-10-2006, 04:37 PM

Quote:

Originally Posted by maverick4

Blue Collar, sounds good. Glad you have also seen the light.

All Around Brown - in his speech, Paul remarked how Iraq changed to the Euro in 2000 (first country in the world to shift from the dollar), and shortly after their government was toppled, they went back to the dollar. It's an interesting coincidence.

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Allright my friend, I will search for some links for this discussion..

This will be an excellent dicussion for all who wish to partcipate.

I will post a link and lets dissect it like a frog in biology class

***maverick4*** · 08-10-2006, 04:45 PM

http://www.financialsense.com/editor...2006/0120.html

This paper by an Austrian Ph.D economist talks about oil, Iran, and the ramifications for us if we lose the petro dollar.

He links the demise of the petro dollar to rising inflation, massive unpaid debt, real estate collapse, and basically the second coming of the depression in the United States.

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