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=> Iran At War

Iran At War
Posted by Tiglath (Guest) - Monday, March 19 2012, 13:26:46 (UTC)
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Iran At War

By TomDolores





On Thursday, March 20, the US will be at war with Iran, and it has nothing to do with Iran's nuclear ambitions. It's the oil.

A unit within the US Treasury called the Financial Crimes Enforcement Network (FinCEN), has issued a March 20th advisory to the world's financial institutions. The advisory is titled, “Guidance to Financial Institutions on the Continuing Money Laundering Threat Involving Illicit Iranian Activity.”

In essence, the USA will have declared two acts of war against Iran; one against Iran’s banks and one against any financial institution anywhere in the world that tries to do business with Iran's banks.

The worldwide price of a barrel of oil has traditionally been set by US-dominated oil bourses, or major trading markets.

There are two major petroleum bourses; the New York Mercantile Exchange (NYMEX) in New York City, and the International Petroleum Exchange (IPE) in London & Atlanta. Both bourses are controlled by US corporations (NYMEX is actually owned by a conglomerate including BP, Goldman Sachs and Morgan Stanley).

On March 20 Iran is moving full speed with a competing market, the International Oil Bourse (IOB) - also called the Kish Bourse because Iran's trading center is located on Kish Island off southern Iran. Kish was selected because it had been previously designated as Iran's free trade zone.

The Kish Bourse/IOB was set up in 2008 to trade oil contracts in Iranian rials, euros, Chinese yen - in fact, in any major currency other than USD.

Iran is, in short, challenging Anglo-American energy/corporate banking domination of the international oil trade by attempting to supplant the US greenback as the only standard by which world oil prices are fixed. Iran is breaking the US corporate monopoly. Pretty slick?

All it wold take for Iran to seriously challenge American oil hegemony are customers that Washington would be hesitant to pick a fight with - and Iran already has a big one, China.

China has signed a multi-billion dollar deal with Iran's IOB to be traded strictly in Iranian rials. And while China was busy ignoring Washington's shrieks and moans about sanctions, Iran was signing a deal with Germany to be traded in euros. (Oilprice.Com, 02-24-11)

While the current volume of trades at Iran’s IOB are admittedly dwarfed by the daily transactions at NYMEX and ICE, Washington sees the IOB as a serious danger to America's effective monopoly in energy trading. (Oilprice.Com, 02-24-11)

For now, Iran's move raises what you pay for gas at the pump. What it will mean to the long-term economic prospects of the USA and the western nations remains to be seen.

Iran is being extremely canny about replacing the petrodollar, knowing that this will (1) break the US corporate global monopoly on oil trading, (2) eliminate the USA as a middlemen on at least some global oil deals and prices, and (3) possibly strike a devastating blow at the very core of the American economy without ever having to fire a shot or shed a drop of anyone's blood.

Essentially, Iran has placed sanctions on the United States knowing full well that our dollar is propped up by nothing except oil.

Pretty elegant way to fight a war, if you must.



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