Attack on dollar intensifies: Syria & Venezuela join Iran


Richard Moore


Some of you may want to reject the second story below,
because it comes from a right-wing source. I suggest however
that we are getting good information there, and the biases
are very evident, so that we can take them into account. We
need more listening between left and right. Factionalism
only serves elite interests - divide and rule.



Syria switches to euro amid confrontation with US
Mon Feb 13, 2006 10:31 AM ET

DAMASCUS (Reuters) - Syria has switched all of the state's
foreign currency transactions to euros from dollars amid a
political confrontation with the United States, the head of
state-owned Commercial Bank of Syria said on Monday. "This
is a precaution. We are talking about billions of dollars,"
Duraid Durgham told Reuters.

The bank, which still dominates the Syrian market although
private banks have been allowed to set up in the last few
years, has also stopped dealing with dollars in the
international foreign exchange flows of private clients. The
United States has been at the forefront of international
pressure on Syria for its alleged role in the assassination
of former Lebanese Prime Minister Rafik al-Hariri a year
ago. Damascus denies involvement in the killing.

"It looks like a kind of pre-emptive action aimed at making
their foreign assets safer, preventing them from getting
frozen in case of any conflict," said a Middle East
economist who requested anonymity.

© Reuters 2006. All rights reserved.


While the mainstream media sleeps: Iran / Venezuela declares
economic war on the U.S.

February 15, 2006 -- During a recent visit to Caracas,
Venezuela, Iranian parliamentary speaker Gholam Ali Hadad
Adel said U.S. opposition to Iran's nuclear program was
"only a pretext."  "They are worried that we want to be
independent," Hadad Adel said through an interpreter.[1] 
Adel was kind to use the word "pretext".  A more direct
statement by Adel would have been to say that U.S.
opposition to Iran's nuclear program is more of the same
hardliner propaganda coming out of the Bush Administration,
meant to drum up public support for additional Bush
Administration sponsored, pre-emptive strikes against
nations that dare to abandon the U.S. dollar in favor of the
euro or any other foreign currency. 

Why else would Adel say that the U.S. opposition to Iran's
nuclear program was "only a pretext" if he didn't possess
full knowledge of what he believed to be the real reason why
the Bush Administration and its supporters in the U.S.
Congress have suddenly gotten themselves all hot and
bothered over a nuclear program that has been in play for
decades and is by many accounts, at least ten more years
away from being able to produce even a single nuclear
weapon?  What did Adel mean when he said that "they are
worried that we want to be independent" when Iran is already
an independent country?  No foreign army is presently
occupying Iran.  It holds elections.  In 2000, the U.S.
applauded when the Iranian people elected reformists to the
Iranian Parliament.  In 2004, the Bush Administration, the
spread democracy by spraying bullets administration, frowned
when those same Iranian voters elected the resurgent
conservatives into power once again.  The point here is that
Iran is already independent by all accounts, so what did
Adel mean when he said that the Bush Administration and its
NEO-CON supporters are worried that Iran wants to be

When mining alternative media sources (the mainstream media
in the United States is not and will not report this
information) to catch a glimpse of what Iran is attempting
to become independent of, the only plausible explanation to
be uncovered suggests that Iran wants to become independent
of the U.S. dollar.  It is of great importance to understand
that only those countries that are adversarial to the U.S.
dollar have earned the scorn of Bush's Global, Big Brother

Iraq stopped using U.S. dollars in 2000 under the U.N.
monitored Oil for Food Program.  Two months after the U.S.
invaded Iraq, all purchases of Iraqi oil were returned to
petrodollars once again.  Venezuela President Hugo Chavez,
who is considered a dangerous adversary by the Bush
Administration, has declared war on the U.S. dollar.  In
October 2005, Chavez announced that Venezuela was ready to
move the county's foreign-exchange holdings out of the
dollar and into the euro.[2] 

Now Iran and Venezuela have joined together to gain
independence from the U.S. Dollar.  Chavez supports the
opening of the Iran Oil Bourse on March 20, 2006.  The Iran
Oil Bourse will challenge U.S. dollar supremacy in global
oil market transactions executed on the New York Mercantile
Exchange and London's International Petroleum Exchange by
creating the opportunity for countries to shift
foreign-exchange holdings out of dollars and into euros or
other currencies. 

In his February 1, 2006 Energy Bulletin: (Trading oil in
euros - does it matter?) mathematical technician, Coilin
Nunan wrote, "If the denomination of these important
imports, in particular oil, were to move away from the
dollar, then rich countries would move their reserves into
other currencies and consequently the dollar would lose a
lot of its importance." 

What the Coilin statement means to America is that if the
dollar loses importance, the United States will lose
importance on the world stage.  And if the U.S. loses the
spotlight, so does the Bush Administration, particularly in
its ability to orchestrate world affairs.  And while the
ultra-rich that control the elected elite in the United
States fear losing power and prominence throughout the world
and have proven that they will resort to war to retain
power, it will be the American middle-class and poor that
will be called upon once again to fight, and if necessary,
die for their country under less than creditable and
honorable circumstances.  Invading other countries to
sustain the value of a non-governmental money system is not
honorable warfare. 

It is not by chance that the Bush Administration and the
NEO-CON targets countries like Iraq, Iran, and Venezuela as
adversarial.  All three had or have two things in common -
very large oil reserves and a desire to weaken the United
States by declaring war on the petrodollar.  The fact that
the United States, and particularly, the Bush Administration
knows that North Korea already has nuclear weapons that are
in the hands of a deranged and disturbed, if not clinically
insane leader, Kim Jong il, but is for all intensive
purposes, doing little if anything about it, serves as more
circumstantial evidence that the " Iranian nuclear threat"
propaganda churning out of the government and banking cartel
controlled mainstream media, is just that, war propaganda
designed to convince the American people that there is a new
bogeyman out there that wants to destroy our way of life
with weapons of mass destruction. 

It is sad to report that much of the White House propaganda
regarding Iran is having its desired effect on the
mainstream media and consequently, the American people. 
Most Americans believe that Iran is a nuclear threat right
now, when it is not.  If you poll one thousand Americans and
ask if they have ever heard of the Iran Oil Bourse, at best,
maybe twenty will have knowledge of it.  If asked what a
petrodollar is, again most Americans will have no clue, not
because they're clueless, but because they believe that what
they read in their newspapers and see on the evening news
are complete news stories, when they are not. 

Here's the headline you will not read or hear from the
mainstream media, but no doubt should. America is under
attack.  Iran and Venezuela have declared war on the
petrodollar.  The reason why the U.S. dollar is vulnerable
to attack is because our currency is printed and loaned to
the federal government by a syndicate of private banking
institutions doing business as the Federal Reserve.  The
money system, the Federal Reserve System, is a funny money
system that makes money out of nothing and loans it to the
government of the United States at face value plus
interest.  The remedy for this currency crisis is to abolish
the Federal Reserve Act of 1913, eliminate the 16th
Amendment commonly referred to as the income tax amendment,
and return the Secretary Treasurer back under the control of
the U.S. Congress, as well as the printing and management of
all our nation's currency.  Finally, all currency and coin
of the United States must be permanently anchored to a gold
or silver standard. 

These objectives might seem impossible to implement.  But
when weighed against the alternative; killing and maiming
while being killed and maimed, all to protect the interests
of a private corporation banking syndicate that created,
funds, and has cleverly disguised itself as a pillar of
Americanism under the War on Terror canopy as it sinks the
U.S. taxpayer so deep into debt that no peaceful means will
ever achieve discharge of the debt, and suddenly, fixing our
own county's glaring defect, our fiat money system, so that
the United States no longer has to fight wars to sustain the
value of its currency does not seem like that difficult of a
task when compared to the price the U.S. pays to wage war. 

[1] Associated Press, A Defiant Iran Makes Atomic Boast, Ali
Akbar Dareini, February 14, 2006,
01, [Accessed February 14, 2006]

[2] WorldNetDaily, Iran, Venezuela declare war on
petrodollar, Jerome Corsi, February 9, 2006,,
[Accessed February 14, 2006]

Freelance writer / author, Ed Haas, is the editor and
columnist for the Muckraker Report.  Get smart.  Read the
Muckraker Report.  []  To learn more
about Ed's current and previous work, visit Crafting Prose. 

Copyright © 2002-2006 by MUCKRAKER REPORT.
All rights reserved. For re-print permission, contact Ed Haas: (843) 388-6158.



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