The Price of Oil

[AlfredJPruffock]

Oil prices rose above $67 a barrel on Friday amid concerns over supplies from Iran and Nigeria combined with an al Qaeda threat of fresh attacks on the United States, the world’s top oil consumer.

This snippet from the FT gained my interest.

Recently I predicted that Oil Prices would surge dramatically during Feb as the US and Israel (possibly) prepares to attack Iran before the opening of the Europetrobourse in Tehran in March , I wonder if the Oil market is shifting a little earlier than I anticipated ?

Certainly I remain unconvinced that the Oil price rise is due to Bin Laden,the real reason I believe reflects the prospect of a New Middle East War, possibly World War and the dramatic effects this will have on the price of Oil.


Time Will Tell.

[AtW]

Oil raises due to colder than usual winter which meant increase in energy usage -- with supply of oil being effectively fixed, any increase in demands is used by parasites to drives prices higher - they call it market economy.

[AlfredJPruffock]

Oil raises due to colder than usual winter which meant increase in energy usage -- with supply of oil being effectively fixed, any increase in demands is used by parasites to drives prices higher - they call it market economy.

Yet that alone doesnt account for the surges we are seeing in the price of Oil.

If War breaks out in March I expect Oil to hit 100 to 150 bucks per pop, and that is a conservative estimate, the insiders who are privy to the Whitehouse plans will be buying Oil shares by the barrowload in the weeks before the conflict.

[AtW]

I don't think it will happen this March.

[Phoenix]

Bollocks! My mum and Dad are in there 70's and they still have Oil Fired Central Heating, That's why the price is high

[AlfredJPruffock]

Aye AtW

Some may call it market economy, but I would be a bit less euphemistic and give it the more apt title of Smash And Grab.


Dont ya just love Capitalism ?

Meet the New Iranian Oil Minister

[AlfredJPruffock]

ATw

Perhaps this extract may be of interest ....



Here are the key points made by Krassimir Petrov, Ph. D. in his report: The Proposed Iranian Oil Bourse.



· The Iranian government has finally developed the ultimate “nuclear” weapon that can swiftly destroy the financial system underpinning the American Empire

· The weapon is the Iran Oil Bourse slated to open in March 2006

· With the opening of the Iran Oil Bourse:

o Europeans will no longer have to buy and hold U.S. Dollars in order to secure payment for oil. They will be able to purchase oil with their own currencies, the euro.

o The Chinese and Japanese will be especially eager to adopt the Iran Oil Bourse because it will allow them to drastically reduce their enormous dollar reserves and diversify with euros, thus protecting themselves against the depreciation of the U.S. Dollar.

o Russians have an inherent economic interest in adopting the euro because the bulk of its trade is with European countries

o The Arab-oil exporting countries also need to diversify against the rising mountains of U.S. debt notes – the depreciating dollar



What the Iran Oil Bourse means to the average American is that suddenly, hundreds of billions of U.S. dollars will become unwanted around the world. In essence, the money supply will double or triple. When supply outweighs demand, prices go down – except when dealing with currency. When money supply exceeds demand, prices go up.

Its called inflation – the hidden tax brought to the U.S. taxpayer courtesy of the Federal Reserve Banking Cartel and our friends in the U.S. Congress. Imagine if every Americans income doubled in next week’s paycheck. Do you think prices for goods and services would decrease, remain the same, or increase?

If you think they would decrease or remain the same, can I interest you in a hot stock I’m selling called Enron?



Another way to think about the U.S. dollar is in terms of a company stock. Speaking of Enron, when the truth about this company’s finances hit the street, what happened to the value of the stock?

It plummeted.

Why? In theory, the news of false financials didn’t directly cause the stock value to drop. It dropped because there were more sellers than buyers. From its highs of $90 per share, Enron quickly became worthless in the span of a few weeks.

Everyone who held shares of Enron, simultaneously sold their stock, and there was nobody willing to buy the shares. The situation with the U.S. dollars is very similar. If enough people and countries stop holding U.S. dollars, the value of the dollar in your wallet will plummet. The greenback will go the way of the Continental. In 1775 the Continental Congress authorized the issuance of paper money to finance the American War for Independence.

These notes, known as "Continentals," would be redeemable only after the colonies won their independence. Overprinted and distrusted by the public, they declined rapidly in value, giving rise to the popular expression "not worth a Continental."



So what are the real options that the United States of America has to protect its security and financial stability? Option A is to believe the Big Five propaganda machine financed by the Federal Reserve Banking Cartel that prints our funny money, and take our chances with invading Iran to thwart the March 2006 launch of the Iran Oil Bourse.

To some that might sound appealing, but such action will not change the fact that our federal government has been operating on a Federal Reserve credit card, which has no credit limit, for so long that We the People now have a $8 trillion dollar national debt. The Federal Reserve Banking Cartel loves this enormous debt because it represents interest payments from the U.S. taxpayer to its network of private corporations.

The ability of the federal government to tax incomes, on behalf of the Federal Reserve Banking Cartel, before the wage earner ever receives his or her paycheck, makes hard-working men and women slaves to the Federal Reserve Banking Cartel. The U.S. Congress supports using the citizenry as collateral for its wayward spending, for without the Federal Reserve Banking Cartel accepting as collateral, the birth certificates of American citizens and the potential, future taxable wages that they represent, the federal government could no longer finance its 1174 federal agencies and the payroll associated with 4.3 million federal employees.



Option B is to abolish the Federal Reserve Act of 1913 immediately, eliminate seventy-five percent of the 1174 federal agencies and the millions of federal mandates they represent, seize all gold held by the banking cartel, allow the cartel member’s financial institutions to collapse while forgiving all debt owed to the cartel, return the printing and coining of money to the U.S. Treasury, eliminate fractional and fiat money schemes, and return our currency to a commodity backed system such as gold and silver. Finally, there is need to amend the Constitution of the United States of America so as to abolish the 16th Amendment and add language that would prevent the federal government of the United States from deficit spending or operating with a national debt ever again.



There really are no other options, and March 2006 is fast approaching. This is not a doomsday scenario. It is fact. The fiat money scheme run by the Federal Reserve Banking Cartel is about to collapse. Meanwhile the President of the United States, the U.S. Congress, Federal Reserve Banking Cartel, and the Big Five media conglomeration are so fearful of the court of public opinion in the United States, that they will not even utter the words, Iran Oil Bourse.



On a personal note: I have two sons, ages 18 and 15. I myself am a veteran who served ten years in the United States Marine Corps. Arguably, we are all hawks. There are wars worth fighting, and there remain causes worth dying for in defense of the United States of America. Sustaining the Federal Reserve Banking Cartel, a failed fiat money scheme, and a federal government out of control, is not one of them. Fighting against the Federal Reserve Banking Cartel, a failed fiat money scheme, and a federal government out of control, is.


It’s time for the We the People of these United States to spread the word and truth regarding the real threat Iran poses to the United States, and act boldly to fix our own government and money system so that we no longer are required to fight wars to maintain the stability of our own currency.

[Gunnery Sergeant Highway]

Alf, Krassimir Petrov is a survivalist nut. He proposes a new American Revolution.

I'll warrant you a chip to a bagful that there are other options than those two and that come April 2006 there will be no US troops in Iran nor will the US economy have collapsed and its people had to revert to bartering and/or precious metal backed exchanges.

[Mailman]

The whole euro v usd debate is a bit of a joke.

There have already been several attemps to move from the dollar to the euro but the biggest problems faced by those moves are 1) exposure to multiple currency fluctuations by traders (since its an all or nothing approach to be effective), 2) everyone has to move to the euro to make the move worthwhile.

However the biggest issue here is the fact that it doesnt matter what currency oil is traded in (for all I care it could be green cheese and ham, I am) but where the profits from oil trading are invested. The only way Iran could cause trouble for the american economy is if they could control how and where people invest their hard earnt oil profits.

However, I guess its nice to have a conspiracy like this though eh?

IT may also be of interest to the so called economists on these boards that the American economy did not crash during two bigger events, namely the Asian and Enron crises.

Another interesting point, raised by Mr Evil himself (Alan Greenspan) is that employment in America is currently at its highest during his long tenur (higher than most of Europes employment rates).

And we are supposed to believe the American economy is about to collapse? BWAAAAHAHAHHAAHA!

Anyone see the current e-rumour doing the rounds? Bank of America and Compass have given their staff instructions on what to do when the American economy collapses! Funny though that none of the employees from these companies have come forward to verify this is the case

Mailman

[Fungus]

Yet that alone doesnt account for the surges we are seeing in the price of Oil.

If War breaks out in March I expect Oil to hit 100 to 150 bucks per pop, and that is a conservative estimate, the insiders who are privy to the Whitehouse plans will be buying Oil shares by the barrowload in the weeks before the conflict.

The main driver for oil price rises, and in fact price rises in all commodities, for example metals and concrete, has been increased demand from developing nations and in particular China.

The BRIC block of Brazil, Russia India and China are the ones to watch. Unless we pull up our socks and stop this command economy regulation stuff we will be outcompeted PDQ.

Fungus