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Linda Bilmes and Joseph Stiglitz | 07.02.2006 18:50 | Anti-militarism | World
Linda Bilmes and Joseph Stiglitz
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Comments
Hide the following 2 comments
Understimate
08.02.2006 05:15
The real cost of war
http://costofwar.com/index-public-education.html
Danny
War actually not a real financial expense to U.S.
08.02.2006 13:23
PDF of Petrov's article - application/pdf 43K
If Iraq had not been invaded, and left alone to trade its oil in Euros (a practice it initiated just months before the invasion) it would have resulted in the collapse of the Dollar. It would have been be payback time, and the U.S. would effectivly be bankrupt.
The proposed Iran Oil Bourse poses an even bigger threat to the dollar, and the implication is that the U.S. will now have to attack Iran to prevent the complete collapse of the American economy - a collapse that is likely to cause greater hardship to many Americans than the great depression of the 1930's.
As the proposed Bourse is due to begin trading by March this year, we can fully expect military action to follow shortly afterwards. It will not be neccessary for the U.S. to take full control of Iran - turning it into a war zone will do the trick, for as long as the operation of the oil trade in Euros is disrupted, America can continue to print as many dollars as it likes to pay for the millitary action.
It is staggering how little of this information has been reported in the mainstream media, either in the U.K. or U.S., but try looking on the web and you'll find plenty of information from non-corporate sources.
http://www.google.co.uk/search?hl=en&q=Iran+Oil+Bourse&btnG=Search&meta=
If you have ever wondered why all this nonsense about Iran's nuclear research had a distinct whiff of bullshit about it, here's your reason. In exactly the same way 'WMD' nonsense was used to attack Iraq, the corporate media is using the nuclear issue to distract attention from the real reasons for millitary madness.
One of the clearest explanations of this can be found here, an article that has apparently spread like wildfire around the net since its release on January 20th (although many versions of it have been almost imperceptively corrupted for some reason).
http://www.financialsense.com/editorials/petrov/2006/0120.html
This thesis is corroberated by the announcement last November that the U.S. "Federal Reserve System will cease publication of the M3 monetary aggregate" (effectively a measure of how much foreign debt the U.S. has accumulated by printing Dollars).
http://www.federalreserve.gov/releases/h6/discm3.htm
See also
https://www1.indymedia.org.uk/en/regions/london/2004/10/298900.html
Herblooser
Homepage: http://www.financialsense.com/editorials/petrov/2006/0120.html