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04-23-2007, 08:05 PM
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#16
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whore
Join Date: Jan 2007
Location: home
Posts: 86/0.12
Threads: 7
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Re: What are these freedoms we are fighting for?
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Originally Posted by ddoubleez
cheeba monkey,
with your background I would assume you have a lot to contribute to this thread. I intended it to educate people to the level of propoganda they are experencing and the fact that the Media is not informing us that we are loosing rights faster than we realize. Other countries make statements like, 'We fear Bush more that Al Qeada." or "American's are slipping in to fascism."
Let's keep the emotions civil and speak to each other level headed so we can LEARN. Tell us what you learned in your 'teach-in' and bring some facts to the table that others can look up and confirm. The last thing I want is someone that perticipates in democracy to be banned in the forum, I need your help.
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I have tried to read most of this and I hate to say it but most everything that I would site could be called fake. Then again based on almost everything that I have read in here, nothing that is written can be believed unless you can also see it for yourself.
He is my side of this little tea party. I have faith in my country, my countrymen, our system, and the people who run it. That being I am not stupid enough to think that every member of this government is out for what is best for me. I think that before we attack the people who pull the crap that is costing us hundreds of billions of dollars we need to first fix the system that allows them to do it. Otherwise you just put someone else who will do the same in their spot. I believe that at times we ( our military) has to do things that is unpopular to keep us safe. Everyone on earth has a right to life, but if you threaten others lives you have to expect to find someone who will defend themselves. We enjoy to freedom to sit here and have this "conversation", the freedom to say whatever we believe, and the freedom from the fear that having this "conversation" could bring harm from our government. The freedoms are being fought for everyday in Iraq, but also in South Korea, Germany, and anywhere else a US soldier, sailor, airmen or Marine is stationed. Just because they aren't in "combat" doesn't mean they aren't fighting for these freedoms. They are dying and that is a sad truth we have to face. It is with their deaths that we enjoy these freedoms. So it is all the more important to have these "conversations" as doing so justifies the price they paid.
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04-24-2007, 09:44 AM
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#17
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Test Tickel
Join Date: Feb 2007
Location: houston, texas
Posts: 1,769/2.53
Threads: 78
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Re: What are these freedoms we are fighting for?
Justsgtpat said[/QUOTE]I have tried to read most of this and I hate to say it but most everything that I would site could be called fake
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I included HR numbers and senate bills for this very reason, even contact numbers if you wanted to call personally. You are just in a silly phase of denile and it is quite common. There are also HR numbers and senate bills that you can use to view off official websites, but ok they are fake!@?%#@!
As far as freespeech goes, you better know that this site will be monitored with these kind of conversations and this country started arresting dissetents in 2002 leading up to the war and harrassed others and has not stopped, free speach would not have consiquences. The quakers and the christian coalition were among groups targeted. HR 2295 is a bill that states animal rights activists are the countries LARGEST DOMESTIC THREAT and you money that is supposed to be fighting terrorist groups are accually going toward moitoring green peace and peta, intread of keeping us safe from threats at our borders, that have been proven to be no safer than they were in 2000. The wording in HR 2295 states that anyone interfering with a companies profits by distributing information, can be tried as a terrorist. And we know if you are tried as a terrorist they don't even have to bring charges on you. This would have made ophra whinfery a terrorist when she exposed the dangers of mad cow!
As for freedom of speach being unique to the us is as wrong as the statement that we posses it. [QUOTE]The United Nations Universal Declaration of Human Rights, adopted in 1948, provides, in Article 19, that:
Everyone has the right to freedom of opinion and expression; this right includes freedom to hold opinions without interference and to seek, receive and impart information and ideas through any media and regardless of frontiers.
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Over 30 countries have addopted this policy, and they don't have the NSA.
And we are not fighting for any freedoms in Iraq, first we are a Republic, and why would a republic fight to spread democracy? Next the quality of life was better under their US appointed and armed dictator, Sadam. Their nextdoor neighbors, the Saudi's, have far worse human rights violations, they will kill a woman for showing her face or kill a man for speaking out against them. This is also the country that supported most of the hijackers that attacked us, and the same PR firm that convinced the US people that Iraq was an enemy, was the same PR group that silenced the fact that Saudi Arabian's were the ones that attacked us, the rendon group. Our leader holds hands with their King, who was definately NOT voted in, its a monarchy not a democracy LIKE IRAN. Saudi Arabia has us by the nuts, they have a trillion in our stockmarket for no other reason but to pull it out if we piss them off, and we allowed them to do this. And as far as the economy is concerned, Iraq was 6 months away from the deadline they set for changing their petro dollar from US currency to the Euro, which would have devistated our economy, one of many major reasons we went in, but your media (who supposedly has free speach) did not report on. The same people building the bombs are the same people who own the media, a bit of a conflect of intrest, look up GE they scored 800 million in contracts from the gov. Do you remember one report critizing the war, or was it all freedom fries?
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04-24-2007, 03:25 PM
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#18
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whore
Join Date: Jan 2006
Location: Lafayette, LA
Posts: 630/0.58
Threads: 1
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Re: What are these freedoms we are fighting for?
The proposals that want to install (or strengthen) the "Orwellian Big Brother" are extremely disturbing.
Ben Franklin once said: "Those willing to trade freedom for security, deserve neither".
The government will never stop trying to gain more and more power and its an inevitable process...which is why the framers of the Constitution tried as hard as they could to limit the powers of the federal government and almost even declined to form one in the first place.
Since they will never stop trying to get more power and limit our freedoms (Even if their intentions are good), the 2nd Amendment is the most important one of all...it is what will protect us if proposals like these succeed and the protections of the Constitution fail. Its the reason it was created in the first place...the last line of defense and the framers also knew that. If they were unarmed, we would all have British accents atm. I shudder to think what will happen if people like Rosie O'Donnell manage to succeed and open this Pandora's Box.
But to be fair, these proposals, if successful, will most likely never be upheld by the Supreme Court since they are so obviously unconstitutional...but who knows?
And as far as fighting for freedoms in Iraq...we are fighting there for much the same reasons we fought in WWII:
We fought to remove an evil dictator, with goals of conquering his neighbors and possibly beyond, who was guilty of gross and astonishing crimes against his own people and neighbors, who never actually attacked us, who was allied with people who attacked us, who had that alliance despite a strong conflict in political/religious views, and the whole time it was going on people at home complained that we shouldn't be there and to bring the soldiers home.
So are they both right or both wrong? That's your decision..my point is that one can't be right AND the other wrong at the same time.
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04-24-2007, 04:39 PM
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#19
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Test Tickel
Join Date: Feb 2007
Location: houston, texas
Posts: 1,769/2.53
Threads: 78
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Re: What are these freedoms we are fighting for?
Iraq did not have the goal of conquering his neighbors. The kuwait war was started because the Kuwait governmnet was sideways drilling into iraq and stealing oil. Iraq appealed to the US for help, and we did not, instead we used it as an excuse to attack them. Not even a year before the 9-11 attacks Powell said saddam had no conventional capability to even strike his neighbors. Condi said we were able to keep arms from him and the sanctions were working. Rumsfeld wanted this war and he proposed going into Iraq even before afganistan and he was one of many reasons that we were too slow to strike at afganistan and that is possibly why binlaudin is still out there. And please don't forget that it was reagan that sold and signed off on the componits that made up the chem and bio weapons that Saddam had upto 1990.
In WWII we were stopping an attempt for global domination, in Iraq we are fighting so we can place millitary bases around the caspian sea and to set up a police station so companies, often based in the us, have access to the middle east resources, fossil fuels. We financially supported the tilaban in afganistan, because we wanted to run piplines through the country.
The CIA told Bush to remove the claim of yellow cake uranium from Niger, because it was not true, in a speech made in cincinatti, but when Condi was asked why it was back in the state of the union speach of 2002, she answered, 'we forgot.'. You can find the state of the union speech from 2002 online and across the board, on the war AND the economy along with not needing to conserve Bush was wrong on EVERYTHING.
PS almost all of the above has already passed and the Neo conservitives have already fixed the Supreme Court, remember the guys that appointed Bush to begin with, and sence we are on the supreme court thing: I, said O’Connor, am against judicial reforms driven by nakedly partisan reasoning. Pointing to the experiences of developing countries and former communist countries where interference with an independent judiciary has allowed dictatorship to flourish, O’Connor said we must be ever-vigilant against those who would strongarm the judiciary into adopting their preferred policies. It takes a lot of degeneration before a country falls into dictatorship, she said, but we should avoid these ends by avoiding these beginnings
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05-04-2007, 03:16 AM
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#20
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whore
Join Date: Nov 2005
Location: san francisco, ca
Posts: 22/0.02
Threads: 0
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Re: What are these freedoms we are fighting for?
"That government is best which governs least."
-- Thomas Paine
Always liked that quote.
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05-04-2007, 04:35 AM
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#21
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whore
Join Date: Jan 2006
Location: Lafayette, LA
Posts: 630/0.58
Threads: 1
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Re: What are these freedoms we are fighting for?
ROFL Yes Iraq did have goals of conquering their neighbors, they just weren't as successful as Hitler was. His rule was based almost entirely on the Nazi regime. There will always be some sort of excuse dreamed up like sideways drilling...even Rome conjured up BS before it started a campaign.
And Iraq DID use chemical weapons on his own people for ethnic cleansing. And he had not been cooperating with the weapons inspectors for a long time. I don't recall Powell and Condi saying what you said they did but I do recall CLINTON and multiple people from his administration say that he was NOT cooperating and WAS posing a significant threat.
We don't need to establish more bases in the area. More are helpful, but not necessary. We have plenty of them in the Middle East including Turkey and Saudi Arabia. We also have some in Europe that are easily within range of todays aircrafts.
And the Supreme Court is not stacked. The Justices sitting now are pretty evenly distributed with reference to the political party of the appointing President. And they made the correct constitutional decision in Bush v. Gore. Its not an "appointment" just because your candidate lost.
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05-08-2007, 09:46 AM
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#22
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Test Tickel
Join Date: Feb 2007
Location: houston, texas
Posts: 1,769/2.53
Threads: 78
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Re: What are these freedoms we are fighting for?
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And Iraq DID use chemical weapons on his own people for ethnic cleansing. And he had not been cooperating with the weapons inspectors for a long time. I don't recall Powell and Condi saying what you said they did but I do recall CLINTON and multiple people from his administration say that he was NOT cooperating and WAS posing a significant threat.
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I did not argue this, however, chemical and bio weapons have a shelf life, some as short as 90 days some ten years, but know even if Saddam had not burried them in 1990, they would still been usless 12 years later. You also need to understand that Clinton was convinced he would not have had a second term with saddam in power and tried to seal his second election with a failed assanation atempt. Clinton also ran MANY campains in no fly zones in his term. Clinton also attacked Afganistan. Clinton is the reason that UN inspectors did not have more cooperation with Saddam because clintons assanation attempt was durring a UN's inspection, and that is why he was not more coperative, imagine that.
Larry Johnson was a chief UN weapons inspector, and he went on national news to beg the US for more time and the woman interviewing him, asked if he had been 'drinking the koolaid'.
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The occasion was a press conference on 24 February 2001 during Powell's visit to Cairo, Egypt. Answering a question about the US-led sanctions against Iraq, the Secretary of State said:
We had a good discussion, the Foreign Minister and I and the President and I, had a good discussion about the nature of the sanctions -- the fact that the sanctions exist -- not for the purpose of hurting the Iraqi people, but for the purpose of keeping in check Saddam Hussein's ambitions toward developing weapons of mass destruction. We should constantly be reviewing our policies, constantly be looking at those sanctions to make sure that they are directed toward that purpose. That purpose is every bit as important now as it was ten years ago when we began it. And frankly they have worked. He has not developed any significant capability with respect to weapons of mass destruction. He is unable to project conventional power against his neighbors. So in effect, our policies have strengthened the security of the neighbors of Iraq...
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But Powell wasn't the only senior administration official telling the truth before the truth became highly inconvenient. On 29 July 2001, Condoleezza Rice appeared on CNN Late Edition With Wolf Blitzer (an anonymous reader sent me the full transcript from Lexis-Nexis). Guest host John King asked Rice about the fact that Iraq had recently fired on US planes enforcing the "no-fly zones" in Iraq. Rice craftily responds:
Well, the president has made very clear that he considers Saddam Hussein to be a threat to his neighbors, a threat to security in the region, in fact a threat to international security more broadly.
Notice that she makes it clear that Bush is the one who considers Hussein a threat. She doesn't say, "I consider..." or even, "We consider..."
Then King asks her about the sanctions against Iraq. She replies:
But in terms of Saddam Hussein being there, let's remember that his country is divided, in effect. He does not control the northern part of his country. We are able to keep arms from him. His military forces have not been rebuilt.
King doesn't think to ask Rice, if Hussein hasn't been getting arms and his forces weren't rebuilt after the 1991 Gulf War, why Bush considers him a threat.
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Furthermore, on 15 May 2001, Powell testified before the Foreign Operations, Export Financing and Related Programs Subcommittee of the Senate Appropriations Committee. Several kind readers with access to Lexis-Nexis sent me the full transcript of the questions-and-answers portion of Powell's testimony. Here's the relevant extract:
Senator Bennett: Mr. Secretary, the U.N. sanctions on Iraq expire the beginning of June. We've had bombs dropped, we've had threats made, we've had all kinds of activity vis-a-vis Iraq in the previous administration. Now we're coming to the end. What's our level of concern about the progress of Saddam Hussein's chemical and biological weapons programs?
Secretary Powell: The sanctions, as they are called, have succeeded over the last 10 years, not in deterring him from moving in that direction, but from actually being able to move in that direction. The Iraqi regime militarily remains fairly weak. It doesn't have the capacity it had 10 or 12 years ago. It has been contained. And even though we have no doubt in our mind that the Iraqi regime is pursuing programs to develop weapons of mass destruction -- chemical, biological and nuclear -- I think the best intelligence estimates suggest that they have not been terribly successful. There's no question that they have some stockpiles of some of these sorts of weapons still under their control, but they have not been able to break out, they have not been able to come out with the capacity to deliver these kinds of systems or to actually have these kinds of systems that is much beyond where they were 10 years ago.
So containment, using this arms control sanctions regime, I think has been reasonably successful. We have not been able to get the inspectors back in, though, to verify that, and we have not been able to get the inspectors in to pull up anything that might be left there. So we have to continue to view this regime with the greatest suspicion, attribute to them the most negative motives, which is quite well-deserved with this particular regime, and roll the sanctions over, and roll them over in a way where the arms control sanctions really go after their intended targets -- weapons of mass destruction -- and not go after civilian goods or civilian commodities that we really shouldn't be going after, just let that go to the Iraqi people. That wasn't the purpose of the oil-for-food program. And by reconfiguring them in that way, I think we can gain support for this regime once again.
When we came into office on the 20th of January, the whole sanctions regime was collapsing in front of our eyes. Nations were bailing out on it. We lost the consensus for this kind of regime because the Iraqi regime had successfully painted us as the ones causing the suffering of the Iraqi people, when it was the regime that was causing the suffering. They had more than enough money; they just weren't spending it in the proper way. And we were getting the blame for it. So reconfiguring the sanctions, I think, helps us and continues to contain the Iraqi regime.
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Kawligia, I will look forward to you contributing to my peak oil thread. And in 2000 I voted for Bush, it was an obvious mistake and a former Republican Supreme Court member, that stayed on the bench in spite of her health, has mentioned that the supreme court is stacked and people have been to court and testified against the circus that was florida '99:
John Ellis "Jeb" Bush
Governor of Florida
Jeb was in charge in 2000 when some 179,855 ballots were not counted in the official tally, 53% of them from black voters. Four years later, he ignored advice to scrap a faulty felons list that contained almost no hispanic names. (Cubans in Florida tend to vote Republican.)"
Deanie Lowe
Supervisor of Elections, Volusia County, FL
Deanie tried to wield her power to single-handedly reduce the number of minority voters by refusing to open early voting offices throughout the county. The NAACP responded with legal action and won.
Wally O'Dell
CEO of Diebold, Inc.
While pitching voting machines to Ohio, Wally told a GOP crowd that he is "committed to helping Ohio deliver its electoral votes to the President next year." Diebold has been charged with hiding severe security flaws in their e-voting machines.
Larry Russell
Director of Republican Victory Program, SD
Larry and six others were forced to resign over questionable absentee ballot applications, and the state Attorney General is investigating. According to an internal GOP party memo, Larry will now "lead the ground operations" for Bush in Ohio.
Theresa LePore
Palm Beach County Supervisor of Elections, FL
In 2000 her county was in ground zero for ballot chaos, and Theresa designed the ballot. She later oversaw an election for her own job during which police surrounded the election center because of a "terrorist threat." She lost.
Xavier Suarez
Former Miami Mayor
Xavier was Miami's mayor until a court ruled that there was absentee ballot fraud. Thirteen staff members plus his city commissioner went to jail, but not Xavier. He later admitting "handling" absentee ballot forms in the 2000 presidential election.
Michael Arno
President, Arno Political Consultants, CA
Michael's company has been accused of fraudulently changing the party affiliations of voter registration cards in Florida, and a prosecutor is investigating. Two workers were charged with forgery relating to a petition drive.
Miriam Oliphant
Former Supervisor of Elections, Broward County, FL
Miriam was swept into office after the 2000 voting disaster, but under her watch, nearly 300 absentee ballots were later found in a filing cabinet unopened. Jeb Bush eventually suspended her for "grave" neglect.
Now would you like to bring up Ohio?:
[/QUOTE]
One day after Democratic Presidential candidate John Kerry announced that he conceded the election to George W. Bush, there were at least 300,000 missing votes in Ohio, many of them in the heavily Democratic counties of Cuyahoga and Franklin, which had not been counted. George W. Bush was reportedly leading by only 136,483 votes at the time, and one day later, that lead was cut by about 3,800 votes—falsely recorded on a single machine in Franklin County, Ohio.[QUOTE]
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05-08-2007, 09:56 AM
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#23
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Test Tickel
Join Date: Feb 2007
Location: houston, texas
Posts: 1,769/2.53
Threads: 78
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Re: What are these freedoms we are fighting for?
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We don't need to establish more bases in the area. More are helpful, but not necessary. We have plenty of them in the Middle East including Turkey and Saudi Arabia. We also have some in Europe that are easily within range of todays aircrafts.
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To frame Iran and take control of the caspian sea, one of the most oil rich areas, the US had to place military bases in iraq and afganistan. Afganistan is also the gateway to uzberkistan, where we established military bases at the end of the cold war. Uzerkistan has alot of crude and natural gas, but to get it out we would have had to run a pipeline, or several, through afganistan and pakistan. Pakistan allowed it, had it ever happened, and the taliban kept leading us on and we spent over 10 years aiding and arming them to get control of afganistan so we could run pipe. So we did need to establish bases there.
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05-09-2007, 01:39 AM
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#24
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whore
Join Date: Jan 2006
Location: Lafayette, LA
Posts: 630/0.58
Threads: 1
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Re: What are these freedoms we are fighting for?
The fact of the matter in Bush v. Gore is that the 14th Amendment guarantees all people equal protection.
Therefore all people's votes must be treated equally according to objective standards. The voting machines were such a standard and they were functioning properly. The proposed recount would NOT have had such an effect. There would be NO standards to determine what was a "valid" vote except "voter intent". That is a subjective standard that changes from county to county and even person to person. That's NOT an objective non-random standard to treat all votes equally and no other recount procedure was even proposed by the deadline date.
That is basically a summary of the majority and concurring opinions of the Supreme Court. The dissenting opinions basically IGNORED that issue and said they were only saying what they said because they wanted Bush to be president which is what everyone else who, for some reason, wanted Gore in office also did.
And I am soooo tired of the "HEY GUSY WER KOMMIN 2 TAKES UR OILZ LOLZ!!!!!!11" claims. How exactly are we "taking" their oil? Are we commandeering them and putting them under US government control? No. Are we commandeering them and placing private companies in charge of them? No. Did we commandeer them and hand them over to other foreign people to give us good deals....or maybe just work out sweetheart deals with people who already had them? I doubt it, but for the sake of arguement, maybe...but if we did that and we now have great, easy, and cheap access to oil now, why is it more expensive now than it ever was in the past even the 80s?
P.S. Even though you can't tell from text, my tone was/is not intended to be a nasty one.
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05-09-2007, 09:18 AM
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#25
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Test Tickel
Join Date: Feb 2007
Location: houston, texas
Posts: 1,769/2.53
Threads: 78
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Re: What are these freedoms we are fighting for?
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And I am soooo tired of the "HEY GUSY WER KOMMIN 2 TAKES UR OILZ LOLZ!!!!!!11" claims. How exactly are we "taking" their oil?
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Kawligia, good morning... Well, it would probably be easier to get past this if it were not the answer. And it is sure more believeable than WMD's or a republic that is trying to spread democracy, the same republic that removed an demecraticly elected Dr. Mohammed Mosaddeq prime minister in the early 50's who we are stilling seeing problems from today when we removed him from leadership in Iran. A resource war would probably be more understandable if you an over all objective point of view and looked back over the past several hundred years and tried to find a war that was not over resources, then the previous statement may at least become logical, when you realize every war you can come up with was REALLY over resources. You like to bring up hitler, the very first campains he ran were for oil deposits. He was using slave labor to distill diesel fuel from coal, which is very consuming.
To answer how we are taking our oil we will have to look at the petrolium dollar:
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Although completely unreported by the U.S. media and government, the answer to the Iraq enigma is simple yet shocking -- it is in large part an oil currency war. One of the core reasons for this upcoming war is this administration's goal of preventing further Organization of the Petroleum Exporting Countries (OPEC) momentum towards the euro as an oil transaction currency standard. However, in order to pre-empt OPEC, they need to gain geo-strategic control of Iraq along with its 2nd largest proven oil reserves. The second coalescing factor that is driving the Iraq war is the quiet acknowledgement by respected oil geologists and possibly this administration is the impending phenomenon known as Global "Peak Oil." This is projected to occur around 2010, with Iraq and Saudi Arabia being the final two nations to reach peak oil production. The issue of Peak Oil has been added to the scope of this essay, along with the macroeconomics of `petrodollar recycling' and the unpublicized but genuine challenge to U.S. dollar hegemony from the euro as an alternative oil transaction currency. The author advocates graduated reform of the global monetary system including a dollar/euro currency `trading band' with reserve status parity, a dual OPEC oil transaction standard, and multilateral treaties via the UN regarding energy reform. Such reforms could potentially reduce future oil currency and oil warfare. The essay ends with a reflection and critique of current US economic and foreign policies. What happens in the 2004 US elections will have a large impact on the 21st century
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More petrolum dollar:
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But the developments in the global oil market in recent years have been there to take note of. And on the other side, there are the real conditions which have made the U.S. economy dependent on the dollar retaining its pre-eminence in the global economy. These connections too would not have escaped the notice of the inner circles of power in Washington and therefore must have played a definite role in persuading the U.S. that it was in its economic interests to invade Iraq.
The U.S. dollar is the preferred currency of global trade. More than two-thirds of national foreign exchange reserves are denominated in the U.S. dollar. About 40 per cent of the dollars issued by the U.S. are held outside the country by non-U.S. nationals and entities.
All this makes the U.S. currency the most powerful one in the world; the de facto international currency. This power is in part a reflection of U.S. economic supremacy during 1950-75. The global power of the dollar has continued for other reasons, a reflection, especially since 1990, of U.S. political and military supremacy. When a particular currency is sought after by the rest of the world, the issuing economy has much to profit. The U.S. has done precisely that over the past four decades. When the dollar was linked to the value of gold (until the early 1970s), the U.S. used the status of its currency to finance its Vietnam War. It kept the currency presses running knowing that the rest of the world was willing to hold whatever it printed. Even the delinking of the dollar from the value of gold made no difference.
With members of the Organisation of Petroleum Exporting Countries (OPEC) denominating oil sales in dollars and building up stocks of "petrodollars", the U.S. more than ever began to use the dollar's status to do things that no other country could afford to. It consistently ran up huge current account deficits in its balance of payments — because there always have been Japanese surpluses, petrodollars and the funds of the corrupt which have been invested in U.S. securities and other local financial assets. The rest of the world has been, in effect, financing domestic U.S. savings.
The U.S. trade deficit now stands at $460 billion and its current account deficit at over $500 billion (5 per cent of the GDP). This means, as one U.S. economist, David Dapice, recently put it, the U.S. depends on a daily capital inflow from the rest of the world of $1.5 billion to prop up domestic consumption. The value of the dollar is therefore held up by large capital inflows.
What if the dollar ceases to be the currency of choice in the global economy or even if the euro becomes a serious contender? What if all the funds parked in the U.S. money are pulled out? What if this flow of capital dries up?
The effect on the U.S. economy would be cataclysmic since the amounts involved are huge. Robert Brenner, another U.S. economist, estimated that in end 2000, foreign ownership of the U.S.' gross assets were equivalent to as much as 67 per cent of GDP and argued that "any serious attempt to flee these assets would put enormous pressure on the dollar". More recent data from the U.S. Federal Reserve show that the situation has not changed since then. At the end of 2002, the market value of foreign ownership of just U.S. financial assets (corporate equity and bonds, U.S. Treasury securities and bank deposits) added up to $3,350 billion or more than one-third of the U.S.' GDP.
The U.S. is clearly financially dependent on the rest of the world. If this is a lever foreigners do not use, then it is because there is — as yet — no threat to the dollar as a global currency.
Where do oil and Iraq fit into all this? Global oil contracts are denominated in the U.S. dollar. This means that the U.S. consumers of oil are unaffected by the movement of their currency, while the rest of the world ends up paying more for oil whenever the dollar's value goes up. So, any shift away from the dollar will affect consumers. The annual value of the global oil trade is now more than $600 billion. This accounts for 10 per cent of world trade. A movement away from the dollar denomination of oil contracts would naturally reduce the global importance of the currency and fundamentally weaken the U.S. economy. Whether out of design or not, Iraq had already demonstrated that an oil economy outside the world of the U.S. dollar was possible. In 2000, Iraq asked for and was granted the right by the United Nations to have its oil exports under the U.N. oil-for-food programme conducted in euros.
What seemed a foolish decision then (because the euro had plunged in value) turned out to be very profitable for Iraq. The appreciation of the euro by 20 per cent since late 2000 meant that Iraq got more for its exports. More than two years ago, the U.S.-based energy analyst, Arjun Makhijani, drew attention to the implications for the U.S. of a larger shift to the euro in global oil trade. Iraq's experiment has not prompted other oil exporters to follow the same path.
But OPEC has taken notice. In as carefully worded a speech as was possible, Javad Yarjani, a senior OPEC official, spoke in 2002 of the possibilities and benefits of the world moving away from dollar oil contracts and shifting to euros. Since nearly half of OPEC's imports are from the European Union and OPEC is the main supplier of oil to the E.U., such a shift makes sense, to begin with, for the European economies. Russia is reported to be considering oil futures in euros and Iran switching a major part of its foreign exchange reserves to the same currency. A larger shift to the euro will spell larger trouble for the dollar.
This then was the setting for the U.S. invasion of Iraq. An economy that is powered by debt-laden consumption growth, that has low or negative savings, that keeps running up huge current account deficits and can afford to do all this solely because of foreigners' preference for its currency has everything to lose from even the smallest of threats to the present order of things.
It was in the U.S.' interest to end the first experiment of a switch to the euro in oil contracts. Its invasion of Iraq has accomplished that.
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Again, Kawligia, get familiar with the peak oil therory or Hubbart's Peak and this will make more sence to you. If you were versed in peak oil and current situations pertaining to peak oil, you would know that in 2005 Gwar Field in saudi arabia peaked and for the first time sence its discovery in 1950, it is producing LESS this year than the previous and this will continue. What makes this very important is this is the world's largest field in the most oil rich country in the world, it was the last country that we used to be able to ask them to open the valves a little more, you remember bush holding hands with their king, that was why he was over there shortly after they trained people to fly planes into the pentagon and WTC towers. Another factor driving up the price is the fact that iraq is not exporting or producing to its potential. because of the occupation, they don't heve electricity for a good part of the day.
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WR
> Banter
> Edge of the Hole
What are these freedoms we are fighting for?
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