The dollar is dead
Posted by Ivo Cerckel on August 12th, 2008
Gold and Oil have no more denominator.
I said in my July 8th, 2008 “The final battles of the dollar regime”-entry that it becomes clearer by the day that the days of abundant cheap oil flows are over.
Oil will now continue to be valued according to its true worth and to the extent that this true worth will be discovered, its price will rise.
I added that wars will again be waged for the commodity.
Observers are wondering why the price of oil and gold are going down and not up after the shutting down by Moscow of the pipelines crossing Georgia.
China and the European Central Bank (ECB) had to sell gold on Friday 1st August 2008 in order to save the US of A financial system from collapse.
Geheime Hilfen für Herrn P.
Die Welt, 2. August 2008, 04:00 Uhr
Kolumne Von Erwin Grandinger
http://www.welt.de:80/welt_print/arti2277035/Geheime_Hilfen_fuer_Herrn_P..html
SNIP
China und EZB stützen Dollar durch Intervention und Goldverkäufe. So soll der Zusammenbruch des US-Finanzsystems verhindert werden
At the question and answer session after the decision of the ECB to leave interest rates unchanged, last Thursday 7 August 2008,
Jean-Claude Trichet, the ECB’s President, has repeated at least three times
that we have to humble in the presence of facts and FEAR.
Of course, nobody was allowed to ask Trichet a question about the ECB’s 1st August 2008 gold sale with China.
Trichet dared however to criticise the International Monetary Fund (IMF), the dollar freak par excellence,
and he would only ask the IMF to do their “very important” (sic) job
and Trichet has no doubt that they will continue to do their job very well.
Since 15 August 1971, when US of A president Richard Nixon broke the Bretton Woods system, the IMF has no job whatsoever to perform and the US of A is able to wage wars thanks to its monopoly to create money out thin air.
Hence, the European Monetary Union (EMU) came into existence to replace the dollar.
The FEAR of the US of A, in the presence of which, said Trichet on Thursday, we have to be humble, is the fear that its dollar will be reduced to its intrinsic value.
During the night following Trichet’s warnings, the night from 7 to 8 August 2008, Georgia launched a military offensive against its separatist sub-republic South Ossetia.
By this stupid offensive, Tbilisi has given Moscow the alibi it needed to get control over the two major pipelines supplying the West run through Georgia, carrying oil and gas from the Azeri section of the Caspian Sea to Turkey.
By the same token, Moscow is able to replace the Georgian president, Mikheil Saakashvili, the US puppet par excellence.
The dollar regime is dead.
The dollar is not Honest Money.
How could the price of oil, which is denominated in that piece of paper, be supported by the shutting down of the pipelines crossing Georgia?
How could the gold price be supported in the face of the ECB gold sales?
ivocerckel AT siquijor DOT ws
No related posts.
August 12th, 2008 at 16:00
Matt Zeitlin,
a brilliant center-left blogger
http://www.theamericanscene.com/2008/06/16/matt-zeitlin-on-the-politics-of-caregiving
That’s not me …
August 12th, 2008 at 16:29
Yes,
some may consider me to be an Animal Rights-activist.
Some US-improved German drugs have indeed been tested during the Second World War
in order to be formally introduced in 1957.
Animal Rights
Mon, Aug 11, 2008
Â… or why animal testing researchers should be neutered
http://www.geraldnaus.com/?p=10761#comment-1930
Ivo Cerckel Says:
August 11th, 2008 at 7:59 pm
1.
“In fact, tests on animals have led to such wonderful drugs as Vioxx and Thalidomide, among others.”
We are always told that thalidomide had not been tested,
or at least that it has not been tested on humans,
AND THAT
if it had been tested on humans,
then BLAHBLAHBLAH Â…
But thalidomide has been tested in REAL LIFE by inter alia Dr Kelsey in 1938 and some neurologists at the congress of neurologists held on 30 April – 1st May 1960 in Duesseldorf.
Kelsey and these neurologists assembled in Duesseldorf found out that thalidomide led to serious birth defects in the babies.
Gruenenthal, the manufacturer of thalidomide, knew that. GuvÂ’mint also.
But that did prevent the Gruenental from (continuing to) marketing it.
2.
Thalidomide was definitely known in the year 1938 and [its] defects were noted in Phoenix, AZ (USA) in a medical journal that year. It was known as a cure for HansonÂ’s Disease and made by [Richardson]-Merrill Co. in [Cincinnati], OH (USA). I donÂ’t know what action was taken, but a young female doctor named Frances Oldham Kersey (or Kelsey) recognized its dangers.
Theodore, Princeton, WV/USA
(reaction under From The Times April 4, 2008 Thalidomide: 50 years on victims unite to seek more compensation Nigel Hawkes, Health Editor
http://www.timesonline.co.uk/tol/news/uk/health/article3671815.ece
Kelsey was the lady who in 1960 only joined the US of A Food and Drugs Administration (FDA).
Once there, she further delayed thalidomideÂ’s approval (thalidomide was marketed since 1957)
and was given a Presidential award by US of A president Kennedy for that delay.
Wikipedia says
that Kelsey is credited SINCE NINETEEN THIRTY-EIGHT with her interest in teratogens – that is, drugs that cause congenital malformations,
that 1938 was the date of the creation of the FDA,
and that Kelsey managed to be appointed there in 1960
http://en.wikipedia.org/wiki/Frances_Oldham_Kelsey
Thalidomide was marketed since 1957.
Kelsey was only appointed in the FDA in 1960.
How can she get (all) the credit for having ‘saved’ the US of A from it?
3.
The whistle on the thalidomide drug was blown at a congress of neurologists on 30 April – 1st May 1960 in Duesseldorf. (1)
Gruenenthal, the manufacturer in nearby Aachen, cannot possibly argue it didnÂ’t know that.
Gruenenthal only withdrew thalidomide from Europe on 27 November 1961.
In September 1961,
thatÂ’s more than sixteen months after the Duesseldorf congress of neurologists,
Richardson-Merrill made an application in US of A to allow thalidomide there.
This application was only withdrawn in 1962. (2)
And then Gruenenthal comes arguing that outside Ireland and a few other countries where it sold the drug directly, it can refuse compensation because this would be the responsibility of the licence holders. (3)
Should Gruenenthal not have informed its licence holders about the harmful effects of the drug?
4.
TO REPEAT
Thalidomide has been tested in REAL LIFE by inter alia Dr Kelsey in 1938 and some neurologists at the congress of neurologists held on 30 April – 1st May 1960 in Duesseldorf.
Kelsey and these neurologists assembled in Duesseldorf found out that thalidomide led to serious birth defects in the babies.
Gruenenthal, the manufacturer of thalidomide, knew that. GuvÂ’mint also.
But that did prevent the Gruenental from (continuing to) marketing it.
Ivo Cerckel
ivocerckel AT siquijor DOT ws
NOTES
(1)
Chronik des Conterganfalls
Trag̦ РKatastrophe РSkandal?
http://www.wdr.de/themen/gesundheit/pharmazie/contergan/chronik.jhtml?rubrikenstyle=contergan
30. April/1. Mai 1960:
Auf einem Neurologen-Kongress in Düorf berichtet der Neurologe Ralf Voss üie Nervenschägungen, die seinen
Beobachtungen zufolge durch Thalidomid verursacht werden. Die Forschungsabteilung von Grüal versucht daraufhin, die Nervenschägungen an Ratten zu reproduzieren – ohne Erfolg. Grüal-Forschungsleiter Mü schließ daraus, dass es sich um besondere Situationen handelt, fü Contergan nur selten als Ursache infrage kommt.
+
27. November 1961:
Die Firma Grüal kü in einem Telegramm an das Düorfer Innenministerium an, ihre Thalidomid-Prärate im In- und Ausland sofort aus dem Handel zu nehmen.
+
30. November 1961:
Eine Sachverstäigen-Kommission, die das NRW-Innenministerium eingerufen hat, kommt zusammen. Die Experten erklän es fürscheinlich, dass Thalidomid Missbildungen hervorruft.Das amerikanische Arzneimittelunternehmen informiert Richardson-Merrill die US-Gesundheitsbehö üie Ereignisse in Deutschland und zieht vier Monate spär seinen Antrag auf Zulassung von Thalidomid zurün
(2)
Wie Amerika vor der Contergan-Katastrophe bewahrt wurde
Von Martina Lenzen-Schulte
http://www.faz.net/s/Rub7F74ED2FDF2B439794CC2D664921E7FF/Doc~EAF 04FB1B60CD4F83A586AA2D7BB84170~ATpl~Ecommon~Scontent.html
(3)
“Outside Ireland and a few other countries where Grunenthal sold the drug directly it has refused compensation, arguing it is the responsibility of the licence holders.”
( Thalidomide victims in new compensation call
By Andrew Jack in London
Financial Times April 3 2008 03:00 | Last updated: April 3 2008 03:00
http://www.ft.com/cms/s/0/6c825e5c-0117-11dd-a0c5-000077b07658.html