wayneL
VIVA LA LIBERTAD, CARAJO!
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Just that looking at the price action here, it seems to be nothing more than rumour or a false alarm...I mentioned that this morning in the oil thread. The rumour at the time was some sort of hostilities had begun. It said that only a few contracts were bought at the top. Obviously a nervous market at the moment.
Why, what are you thinking here?
Cheers,
U.S. crude oil futures spike $5.18 to $68.09 a barrel after-hours on rumors of increased hostilities between Iran and Britain. This can mean serious problems to global economies, because if things continue to get nasty between the UK and Iran it is mostly obvious that the US is going to intervene also. And this can revive the jitters of a new terrorist attack in US soil meaning a large capital flow from the US to other countries and currencies such as Switzerland, the Swiss Franc and gold. A rally in gold prices in nearly a fact right now, the only question here will be, can gold hold onto its gains?, if it does, well we are in the presence of the new savings instruments by excellence and people, traders and banks may dive into the market to buy gold, fuelling the rally even more, pushing gold prices to records highs. And I don't want to even imagine what will happen if a war is developed between Iran, the UK and the USA. Also a big problem will revive if oil prices continue to rise; this is the trade balance of the US. We already have an unsustainable trade balance but if oil prices continue to go in the rise, things can get out of hands. Traders are not paying the attention they need to regarding to the trade balance, mainly because now they are focused only in interest rates, but when things may be on the verge of going out of control they will do something. We all know that the best way to correct the trade deficit is to devaluate their currency and the US dollar needs to go down approximately 20% from here to start to narrow the trade balance to satisfactory levels, you do the math.
Looks like more than sabre rattling now doesn't it. The worst step would be Israel getting involved in this. It would bring in the rest of the Middle East, and possibly even unite the Sunni and Shiites to fight against the common enemy. Seems unlikely to me but a possibility. Perhaps it could just remain a US/Israel/NATO? v Shiite conflict. Whatever the case, if Israel get involved, disaster.I'm stocking up on food.
Israeli News Service:
Likud members: Bomb Iran
Report: U.S. planning Iran strike
Something is up.Looks like more than sabre rattling now doesn't it. The worst step would be Israel getting involved in this. It would bring in the rest of the Middle East, and possibly even unite the Sunni and Shiites to fight against the common enemy. Seems unlikely to me but a possibility. Perhaps it could just remain a US/Israel/NATO? v Shiite conflict. Whatever the case, if Israel get involved, disaster.
intersting stuff thanks BradK, wayne, kennasThis from the respected journalist Sey Hersh . Hmmmm
http://www.newyorker.com/reporting/2007/03/05/070305fa_fact_hersh Cheers, Brad
PS If USA takes on Iran, they won't have any friends amongst the (non-terrorist) Iraqi Shiites either - and the terrorist Sunnis there win - like, they won't have any friends in that region period. (you wouldn't think). What was that someone said ? - home before Xmas ?. which Xmas?To undermine Iran, which is predominantly Shiite, the Bush Administration has decided, in effect, to reconfigure its priorities in the Middle East. In Lebanon, the Administration has coöperated with Saudi Arabia’s government, which is Sunni, in clandestine operations that are intended to weaken Hezbollah, the Shiite organization that is backed by Iran. The U.S. has also taken part in clandestine operations aimed at Iran and its ally Syria. A by-product of these activities has been the bolstering of Sunni extremist groups that espouse a militant vision of Islam and are hostile to America and sympathetic to Al Qaeda.
One contradictory aspect of the new strategy is that, in Iraq, most of the insurgent violence directed at the American military has come from Sunni forces, and not from Shiites. But, from the Administration’s perspective, the most profound—and unintended—strategic consequence of the Iraq war is the empowerment of Iran. Its President, Mahmoud Ahmadinejad, has made defiant pronouncements about the destruction of Israel and his country’s right to pursue its nuclear program, and last week its supreme religious leader, Ayatollah Ali Khamenei, said on state television that “realities in the region show that the arrogant front, headed by the U.S. and its allies, will be the principal loser in the region.” ........
“It seems there has been a debate inside the government over what’s the biggest danger—Iran or Sunni radicals,” Vali Nasr, a senior fellow at the Council on Foreign Relations, who has written widely on Shiites, Iran, and Iraq, told me. “The Saudis and some in the Administration have been arguing that the biggest threat is Iran and the Sunni radicals are the lesser enemies. This is a victory for the Saudi line.”
Martin Indyk, a senior State Department official in the Clinton Administration who also served as Ambassador to Israel, said that “the Middle East is heading into a serious Sunni-Shiite Cold War.” Indyk, who is the director of the Saban Center for Middle East Policy at the Brookings Institution, added that, in his opinion, it was not clear whether the White House was fully aware of the strategic implications of its new policy. “The White House is not just doubling the bet in Iraq,” he said. “It’s doubling the bet across the region. This could get very complicated. Everything is upside down.”
"Members of the Security Council expressed grave concern at the capture by the Revolutionary Guard and the continuing detention by the government of Iran of 15 United Kingdom naval personnel and appealed to the government of Iran to allow consular access in terms of the relevant international laws," the statement said.
"Members of the Security Council support calls including by the secretary-general in his March 29 meeting with the Iranian foreign minister for an early resolution of this problem including the release of the 15 U.K. personnel," it said.
Paper Tiger (UN) statement out
I think this has gone on far to long now, Iran is making the United kingdom look like fools, the problem is that life in a country like the UK is far more valuable than it is to Islamofascist controlled country Iran.
If these Sailors where Americans im almost certain that 1/ it wouldnt of happened in the first place 2/ We would be in the Midst of war right now.
The thing that worrys me is that Iran is too confident, its like they have a card up there sleeve(already developed ICBM or even something crude perhaps?)
arguably useful as a componont of the historical record leading up to any action showing global (?) disapproval of Iran and her behaviour (although it is only the security council with 15 member states, including several smaller countries susceptible to sway ... if their vote is needed - or needed to be gained (report recently showed how when african states served on the council, for 2 year periods, the foreign aid they received per year during that 2 year period was more than other years)
and further useful as progressing the case for significant security council action (such as a security council resolution authorising amongst other things the use of force, which would legalise and therefore further legitimise the war - in an eye of the beholder way)
Heck us texans have this trigger finger thing, and when it gets itchy - watch out all you varmits out there ...GWB putting his nose into this is concerning.
Merkel and the EU should bring some sence of reason.
Just some of the headlines this am:
GWB putting his nose into this is concerning.
Merkel and the EU should bring some sence of reason.
Just some of the headlines this am:
GWB putting his nose into this is concerning.
Merkel and the EU should bring some sence of reason.
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