Garbanzo beans… going down in Plames
This post has something to do with peak oil and petrodollars and an "Iranian bourse."
Iranian bourse? An exotic stew of goat meat and fava beans? No, I think that would be Sicilian bourse. The favas give it away. Iranian bourse is made with chick peas, I think. Garbanzo beans.
Google this passage: "A successful Iranian bourse will solidify the petroeuro as an
alternative oil transaction currency, and thereby end the petrodollar’s
hegemonic status as the monopoly oil currency. Therefore, a graduated
approach is needed to avoid precipitous U.S. economic dislocations."
231 hits. That can’t be right. How could that turgid prose appear 231 separate places on the net? Let’s put the quotes around it so we’re searching for the literal string.
104 hits. How can this be? William Clark published this article about a week ago. Of course, over the last few years Clark has been beating this drum, with early drafts and re-worked material from his book and variations of the essay linked above. He’s been getting the word out on Iran as the economic enemy of the petrodollar alliance.
An oil exchange "marker" denominated in Euros will certainly challenge the petrodollar market. The idea that Tehran may have the effrontery to set up an exchange for these trades is certain to rile up the neoCons. But why an Iranian Bourse? Why not set it up in Moscow? Oslo? Why not just use the EuroNext? Trading oil for hard currency is an obvious choice, and the Bush devaluation (based on war without end and the debt implicit in the policy choice) will certainly shift commerce away from the USA, but it seems subtly disinformational at worst and naive at best to posit the creation of a new exchange in Tehran.
And underneath it all, Clark’s key point regarding the shift of trade — a shift away from NYMEX dollar denominated petroleum futures trading to a stable currency, a currency unaffected by the mental illness of the psychopathic degenerates in the executive branch — is probably valid.
What concerns me, is that whether one rants about Iranian nuclear intentions like Bush does, or raves about Iranian petrodollar warfare like Clark, one is providing an argument for the "PNAC vendors" to march deeper into Asia on their war for global control of dwindling petroleum reserves.
So who does William Clark work for really? I’m just guessing….
