Economic Crisis (The Voice Mag)
Western Economic Crisis: Why the Dollar Bubble is about to Burst
Saturday, 17 May 2008
Steve Masterson
The Voice (issue 264 - 11th May) ran an article beginning, "Iran has really gone and done it now. No, they haven't sent
their first nuclear sub in to the Persian Gulf. They are about to launch something much more deadly -- next week the Iran
Bourse will open to trade oil, not in dollars but in euros." This apparently insignificant event has consequences far greater
for the US people, indeed all for us all, than is imaginable.
Currently almost all oil buying and selling is in US-dollars through exchanges in London and New York. It is not
accidental they are both US-owned.
The Wall Street crash in 1929 sparked off global depression andWorld War II. During that war the US supplied provisions
and munitions to all its allies, refusing currency and demanding gold payments in exchange.
By 1945, 80% of the world's gold was sitting in US vaults. The dollar became the one......
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