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<blockquote data-quote="wkmac" data-source="post: 314461" data-attributes="member: 2189"><p>Foreign policy not withstanding, I think the falling dollar is playing more a role in this than we'd like to admit. In 1998', a barrel of oil was $12, and the exchange rate of dollar to euro was way more in our favor. This chart goes back only 5 years but it's not hard to see the trend IMO.</p><p></p><p>At this link from the Federal Reserve, you can see the increases in M1 and M2 money supply but what isn't factored in is the amounts of money borrowed by the federal gov't as a result of deficit spending. All of these factor into the value of what our dollar will buy. We all know that the more dollars in circulation using the old supply and demand theory will mean that goods and services will also inflate to match the amount of supply.</p><p></p><p>As to who's at fault? I appreciate the fact that D admits the dems. had their hand in this but he is also correct that the party who controls the WH has in past practice been given the green light to set economic agenda and thus IMO they should accept a greater share of the blame. I don't let the dems off the hook because they didn't guard the store so to speak as they saw opportunity to leech their favorites projects onto the President's agenda and it became a "I'll scratch your back and you scratch mine!" kinda thing. All us taxpayers were done a disservice across the board IMO while special interests that run our gov't took us all to the cleaners.</p><p></p><p>I recently ran across this piece from 4/2005' which is promoting gold obviously but the 4 page PDF file has some very interesting stats in it. It's titled, The Gold, Oil and US Dollar Relationship." I don't pretend it as an all in one document but it does provide some interesting food for thought.</p><p><a href="https://web.archive.org/web/20060922133834/http://www.thehfa.org/articles/Gold%20Oil%20US%20Dollar%20Relationship.pdf" target="_blank">https://web.archive.org/web/20060922133834/http://www.thehfa.org/articles/Gold Oil US Dollar Relationship.pdf</a></p><p></p><p>More recent news items that the headlines themselves tell the story.</p><p></p><p><a href="http://www.southcoasttoday.com/apps/pbcs.dll/article?AID=/20080313/NEWS/803130369" target="_blank">http://www.southcoasttoday.com/apps/pbcs.dll/article?AID=/20080313/NEWS/803130369</a></p><p></p><p>Of late I've been reading about geopolitics of the Middle East with special interest from the early 1800's forward. Iran was a protecterate of the British empire after the fall of the Ottoman Empire and until March of 1951' had exclusive control on Iranian oil. This came about first in 1908' with the establishment of the Anglo-Persian Oil company because of a major oil find in Mesjed Soleiman, Iran. In 1935, the name was changed to Anglo-Iranian Oil Company to note the country name change and then several years later it was changed to British Petroleum and now we know it as BP.</p><p></p><p>The problem came in 1951' when the British were taking 85% of all oil profits so the Iranian gov't nationalized the oil industry. Obviously this ticked the Brits off and they began plottingto overthrow the sitting gov't but the Iranians got wind and close the British embassey and threw out the brits. The Redcoats came to Washington and begged Truman to do their dirty work but Truman told them to get lost. !952' brought a new election and in the spring of 1953' the redcoats returned to Washington and convinced the new President Eisenhower to do their deed for them. Eisenhower put Kermit Roosevelt, grandson of TR, on the job and he orchestrated a coup with the CIA and this is how we got the Shah. The Shah returned the British and now the US partner to control Iranian oil and the rest is history as they say until radicals upset the apple cart again in the late 1970's. Funny how people won't let bye-gones be bye-gones and the unnecessary "BLOWBACK" this causes!</p><p></p><p>What I found even more of interest during this period is that the Brits did all they could to suppress the Iraq oil fields because they had such a lock on market control in Iran and there was some early success until our own CIA again helped a group called Baathist overthrow the Iraqi gov't at the time because they were cozy to these guys called Soviets..</p><p>Here's a couple of interesting quick reads that has all kinds of potential one begins to look.</p><p></p><p><a href="http://en.wikipedia.org/wiki/The_Great_Game" target="_blank">http://en.wikipedia.org/wiki/The_Great_Game</a></p><p>and don't forget this one too!</p><p><a href="http://en.wikipedia.org/wiki/New_Great_Game" target="_blank">http://en.wikipedia.org/wiki/New_Great_Game</a></p><p></p><p>Open the lid on that can of worms if you dare and you will get an eye opener.</p><p><img src="/community/styles/default/xenforo/smilies/FeltTip/happy-very.png" class="smilie" loading="lazy" alt=":happy-very:" title="Happy Very :happy-very:" data-shortname=":happy-very:" /></p><p></p><p></p><p>As for locking down the Iraq oil, it was a profittable incentive to do so. As I read about all this business/gov't intrigue I could only laugh that it took over 50 years but the British/American alliance had finally succeeded in taking the Iraqi oil industry offline!</p><p><img src="/community/styles/default/xenforo/smilies/FeltTip/wink.png" class="smilie" loading="lazy" alt=":wink2:" title="Wink :wink2:" data-shortname=":wink2:" /></p></blockquote><p></p>
[QUOTE="wkmac, post: 314461, member: 2189"] Foreign policy not withstanding, I think the falling dollar is playing more a role in this than we'd like to admit. In 1998', a barrel of oil was $12, and the exchange rate of dollar to euro was way more in our favor. This chart goes back only 5 years but it's not hard to see the trend IMO. At this link from the Federal Reserve, you can see the increases in M1 and M2 money supply but what isn't factored in is the amounts of money borrowed by the federal gov't as a result of deficit spending. All of these factor into the value of what our dollar will buy. We all know that the more dollars in circulation using the old supply and demand theory will mean that goods and services will also inflate to match the amount of supply. As to who's at fault? I appreciate the fact that D admits the dems. had their hand in this but he is also correct that the party who controls the WH has in past practice been given the green light to set economic agenda and thus IMO they should accept a greater share of the blame. I don't let the dems off the hook because they didn't guard the store so to speak as they saw opportunity to leech their favorites projects onto the President's agenda and it became a "I'll scratch your back and you scratch mine!" kinda thing. All us taxpayers were done a disservice across the board IMO while special interests that run our gov't took us all to the cleaners. I recently ran across this piece from 4/2005' which is promoting gold obviously but the 4 page PDF file has some very interesting stats in it. It's titled, The Gold, Oil and US Dollar Relationship." I don't pretend it as an all in one document but it does provide some interesting food for thought. [URL='https://web.archive.org/web/20060922133834/http://www.thehfa.org/articles/Gold%20Oil%20US%20Dollar%20Relationship.pdf']https://web.archive.org/web/20060922133834/http://www.thehfa.org/articles/Gold Oil US Dollar Relationship.pdf[/URL] More recent news items that the headlines themselves tell the story. [url]http://www.southcoasttoday.com/apps/pbcs.dll/article?AID=/20080313/NEWS/803130369[/url] Of late I've been reading about geopolitics of the Middle East with special interest from the early 1800's forward. Iran was a protecterate of the British empire after the fall of the Ottoman Empire and until March of 1951' had exclusive control on Iranian oil. This came about first in 1908' with the establishment of the Anglo-Persian Oil company because of a major oil find in Mesjed Soleiman, Iran. In 1935, the name was changed to Anglo-Iranian Oil Company to note the country name change and then several years later it was changed to British Petroleum and now we know it as BP. The problem came in 1951' when the British were taking 85% of all oil profits so the Iranian gov't nationalized the oil industry. Obviously this ticked the Brits off and they began plottingto overthrow the sitting gov't but the Iranians got wind and close the British embassey and threw out the brits. The Redcoats came to Washington and begged Truman to do their dirty work but Truman told them to get lost. !952' brought a new election and in the spring of 1953' the redcoats returned to Washington and convinced the new President Eisenhower to do their deed for them. Eisenhower put Kermit Roosevelt, grandson of TR, on the job and he orchestrated a coup with the CIA and this is how we got the Shah. The Shah returned the British and now the US partner to control Iranian oil and the rest is history as they say until radicals upset the apple cart again in the late 1970's. Funny how people won't let bye-gones be bye-gones and the unnecessary "BLOWBACK" this causes! What I found even more of interest during this period is that the Brits did all they could to suppress the Iraq oil fields because they had such a lock on market control in Iran and there was some early success until our own CIA again helped a group called Baathist overthrow the Iraqi gov't at the time because they were cozy to these guys called Soviets.. Here's a couple of interesting quick reads that has all kinds of potential one begins to look. [url]http://en.wikipedia.org/wiki/The_Great_Game[/url] and don't forget this one too! [url]http://en.wikipedia.org/wiki/New_Great_Game[/url] Open the lid on that can of worms if you dare and you will get an eye opener. :happy-very: As for locking down the Iraq oil, it was a profittable incentive to do so. As I read about all this business/gov't intrigue I could only laugh that it took over 50 years but the British/American alliance had finally succeeded in taking the Iraqi oil industry offline! :wink2: [/QUOTE]
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