Monday, October 25, 2004

Mr. Friedman and the Two Occupations

By Abu Spinoza

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Posted 10/25 | Add a Comment

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  1. “No amount of public relations gimmicks can cause the men and women who live under alien tyranny to love their oppressors.
    “

    How true? Only a fool would think otherwise.

    Posted by Perception from Dubai  on  10/25  at  07:53 PM

  2. Dear Abu:

    Do us all a great favor.

    Please send a copy of your article to Friedman and post his response.

    Both, the US and Israeli governments, admit to conducting a military occupation but are angry that the inhabitants of the occupied lands continue to resist.

    You are seing the begining of the end of the American Empire.

    Posted by DoubleStandard from  on  10/25  at  09:21 PM

  3. Good piece, Abu Spinoza!  One really has to ask oneself what substance Mr Friedman abuses - I mean the man sounds demented most of the time.

    Posted by Helga Fremlin from Melbourne, Australia  on  10/26  at  09:15 PM

  4. While we sit around talking about sending letters to Friedman, his “bosses” are gearing up to invade Iran. See Clark’s article on Alternative Press Review which begins: The Iranians are about to commit an “offense” far greater than Saddam
    Hussein’s conversion to the euro of Iraq’s oil exports in the fall of
    2000.
    The Tehran government has a developed a plan to begin competing with
    New
    York’s NYMEX and London’s IPE with respect to international oil trades
    -
    using a euro-based international oil-trading mechanism. This means that
    without some form of US intervention, the euro is going to establish a
    firm
    foothold in the international oil trade. We must not believe we can’t do anything about the abominations.  We must act...with what we have to work with...which means, partly, what our brains can produce when they’re not preoccupied w talk.

    Posted by Richard Oxman from  on  10/27  at  08:06 PM

  5. Richard comments that “the euro is going to establish a firm foothold in the international oil trade.” This is widely believed, but even if the price was of crude oil was set in euros and even if OPEC and other oil producers demanded all transactions be carried out in Euro, it is unlikely to be affect international currency markets.  Most of U.S. current account deficit is financed by holding of U.S. government bonds by Asian central banks, who are unlikely to sell U.S. government bonds even if crude oil prices were denominated in euros.  Most of Asian international trade and finacne, including intra-Asian transactions among countries, are conducted in dollars.
    In addition, OPEC members are still likely want to import consumer and capital goods from the U.S. and other countries that would continue to use dollars as means of payment. 

    A lot of people in Internet like to believe that the U.S. invaded Iraq because of the euro.  This is a rather misplaced belief, in my humble opinion.  The chief reason for invading Iraq is assert control over Iraq’s resource, establish total dominance of the Middle East, and remind the rest of world who is Mafia Don.  While seigniorage is nice, the Mafia don could well its tributes in terms of euros, Yen, gold, and black gold, without having to worry too much.

    The success of Euro is not problem for U.S. multinational corporation or the U.S. ruling class. 

    A huge and sudden massive sell off of dollar denominated U.S. assets would, however, be problem for the United States, but it would also be a problem for the rest of the world, including poor countries and the poor people in the country, since most likely a crisis induced by such action could lead to global slowdown and even a recession.

    Posted by Abu Spinoza from  on  10/28  at  11:05 PM

  6. The point is it would “be problem for the United States”...as you point out, Abu. First of all, it wasn’t my comment...it was Clark’s...put on the table as food for thought. I’m as delighted as anyone to know --trusting in your analysis for the moment-- that Clark’s offbase on the particular angle he’s taken. That would mean there’s one less thing to worry about.  But, still, as per your own words...the momentum of Iran vis-a-vis the monetary unit thing is troubling (for reasons other than what Clark emphasizes), and the Big Concern is that, regardless, we’re getting ready to go in. I thank you for the intelligent rundown, Abu. However, I ask all readers to consider that they can do something to head off the imminent invasion. That we all must give equal time to stopping the next overseas abomination (for whatever reason it takes place)...as we write and talk.  Only readers know what they are or are not doing, what hope they do or don’t harbor or kill.

    Posted by Richard Oxman from  on  10/28  at  11:28 PM
    7. Commenting is not available in this weblog entry. {/if}

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