Did God Say, Let There Be Dollars?
(Dit le Seigneur, «Que les choses soient le dollar?")
SECTION 1: The Dollar Conundrum
Last month, an expert hoisted two agendas:
- A weak dollar is fueling inflationary pressures and making both markets and policymakers nervous.
- Some wonder if countries in Asia and the Middle East will drop their dollar pegs, or if another currency wil...
https://www.economy.com/home/login/ds_proLogin.asp?script_name=/dismal/pro/article.asp&cid=101589
Indeed, it must be the dollar but not CO2 that might be focused on to save mankind and the world.
Or did anybody scribe, "God said, Let there be dollars, and US banks started to print out so many bills to let them be?"
SECTION 2: A Few Things about the Dollar
According to a theory, there are 300 trillion dollars having been printed out and being circulated in the world.
Yet, it is just 8 trillion dollars businesses and governments need for payment of accounts and transfer of money in the global trading.
What's more, it is said that the US financial derivatives market had a volume of 300 trillion dollars in 2005 and 500 trillion dollars in 2007 in terms of purchase contracted.
In 1980, the ratio of the magnitude of "real economy" vs. "money economy" was 9 to 1, though the ratio turned to be 1 to 9 in 2000.
It also means that anything horrible could happen after 2000; and the 9/11 Terror on the U.S. occurred actually in 2001 while people concerned became gluttons of money and got intoxicated with overflowing dollars here and there.
SECTION 3: Not Only Crude Oil but Also Dollars
Mr. Alan Greenspan reportedly wrote that US President Mr. George Bush had ordered military invasion of Iraq to secure the crude oil fields in Iraq.
In fact, the confirmed oil reserve in Iraq is the second largest following that of Saudi Arabia, while that of the U.S is expected to be depleted in one or two decades.
But, Mr. Alan Greenspan might have to point at another aspect: defense of the status of the dollar as another motivation for the invasion of Iraq.
"The second objective is to scare away any other countries to even think about de-linking dollar from the oil trading. De-linking oil trading from dollar will diminish the special status of the dollar and the ability of the US economy to buy goods and services virtually free from the rest of the world and to force countries with trade surplus with the US to lend money to the US. That would certainly destroy the economy of the US built on borrowed money."
http://www.politicalaffairs.net/article/articleview/830/1/83/
But, the following point may be what Mr. Greenspan cannot write in his book due to his former official position:
"If France, Germany, Japan, Russia and a number of OPEC oil countries would shift even a small portion of their dollar reserves into euro to buy bonds of Germany or Frances or the like, the United States would face a crisis beyond which, would destroy its economy."
SECTION 4: 100 Dollar Oil for Whom?
Now the world media is reporting that the oil price has reached 100 dollars for the first time in history.
Today, 80 million barrels of oil are produced everyday, so that oil producing countries in total get 8 billion dollars per day, resulting in incomes of 2.9 trillion dollars per year most of which will be put into the international money market where US financial companies are major players.
For comparison, the sub-prime loan problem is said to have been triggered by securitization of the loans worth 600 billion (0.6 trillion) dollars.
And, just one year ago, they reported in the International Herald Tribune:
"Exxon's performance last year allowed it to surpass Wal-Mart as the largest company in United States, and by some measures Exxon became richer than some of world's largest oil-producing nations. For instance, its revenue of $371 billion surpassed the gross domestic product of $245 billion of Indonesia, an OPEC member and the world's fourth most populous country with 242 million people."
Of course, a year ago, the oil price was not 100 dollars per barrel.
Is this price rise just a mere surprise for companies in this sector such as Exxon?
If so, they will be probably more surprised when the God interferes.
(The last thing hiding in the Pandora's Box must be the US Dollar.
The US dollar together with crude oil may be using CO2 as a scapegoat.
In addition, now you know why the US Government once let the media attack France that was promoting power of Euro without joining the U.S. to invade Iraq.
Indeed, the US dollar stirred up enmity even between the U.S. and France.
Truly, we must carefully treat any agenda concerning US Dollars between us, even personally.
Or, shall I check the inside of the Box more, say, for a kind of diamonds or a new type of LEDs made in Japan?)
"...They will disappear, but you will remain..."
(Sie werden vergehen, du aber bleibst)