Peace be with you
Posted by Ivo Cerckel on December 28th, 2008
The Gulf Co-operation Council (GCC) Summit, convening tomorrow and Tuesday in Muscat, Oman, now has no more reason, excuse or alibi whatsoever left to decide to peg the Khaliji, the future GCC single currency, to the USA dollar.
The European Union, France and Russia called for an immediate end to hostilities, though the US merely urged Israel to avoid civilian casualties.
(Israel launches fierce air strikes on Gaza
By Tobias Buck in Jerusalem
Published: December 27 2008 10:31 | Last updated: December 27 2008 21:05
http://www.ft.com/cms/s/0/09d23724-d401-11dd-abd5-000077b07658.html )
Single currency to boost GCC economy
http://www.business24-7.ae/Articles/2008/12/Pages/12212008_514501bae5744a4884b841e44d2b59de.aspx
SNIP
“The creation of a unified GCC currency combining the reserves of all the Gulf states will create a strong currency that will match global currencies and have an important position just like the dollar, yen, euro and pound.
“As the GCC states have the strategic commodity – oil – the current time represents a historic opportunity for the creation of a unified GCC currency. The current international circumstances would make such a currency stronger than the pound and the existence of a single GCC currency would lead to a unified GCC monetary policy.”
Oman to Roll Out the Red Carpet for GCC Heads of State28 December 2008 http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/business/2008/December/business_December749.xml§ion=business&col=
SNIP
[Minister Responsible for Foreign Affairs Yusuf bin Alawi bin Abdallah ] also stressed that Oman was not party to the proposed single Gulf currency, which will prominently figure during the leaders’ discussions, adding that the Sultanate considered it “not necessary.”
Ivo:
Gulf single currency and Gulf Monetary Union are two different things.
As oil is the only commodity in the world that is large enough for gold to hide in, the Muscat Summit should, in order to achieve higher oil prices, decide to immediately pool the GCC, including Oman’s, gold reserves, make this pool the reserves of the future Khaliji and periodically mark these reserves to market (-price).
In that case, every increase in the price of gold will automatically lead to an increase in the price of oil.
Israel Warns America Yet Again–There’s “Hell To Pay” For Not Attacking Iran
December 24, 2008
http://theuglytruth.wordpress.com/2008/12/24/israel-warns-america-yet-again-there%E2%80%99s-%E2%80%9Chell-to-pay%E2%80%9D-for-not-attacking-iran/
Typical US reaction
Sunday, 28 December 2008 - 01 Muharram 1430 H
http://www.saudigazette.com.sa/index.cfm?method=home.regcon&contentID=2008122825195
WACO, Texas – The US administration of President George W. Bush typically took the position that Israel has the right to defend itself, following Saturday’s massacre of the Gazans.
“Hamas’ continued rocket attacks into Israel must cease if the violence is to stop,” White House spokesman Gordon Johndroe said in Texas where President George W. Bush is on vacation at his ranch. “Hamas must end its terrorist activities if it wishes to play a role in the future of the Palestinian people,” Johndroe said. “The United States urges Israel to avoid civilian casualties as it targets Hamas in Gaza.”
The statement did not call for an end to the attacks. – Agencies
Ivo Cerckel
Siquijor, 28 December 2008
No related posts.
December 28th, 2008 at 14:33
Israel launches new wave of Gaza attacks
Sun, 28 Dec 2008 06:06:24 GMT
http://www.presstv.ir/detail.aspx?id=79721§ionid=351020202
SNIP
Israel begins a fresh wave of air strikes in the Gaza Strip after it killed 230 people and wounded 800 others on Saturday.
December 28th, 2008 at 15:55
From The Sunday Times
December 28, 2008
Britain and US refuse to demand end to Israeli airstrikes on Gaza
Nicola Smith
http://www.timesonline.co.uk/tol/news/world/middle_east/article5404545.ece
SNIP
Britain and the United States were on a collision course with their European allies last night after refusing to call for an end to Israeli airstrikes on Hamas targets in Gaza.
December 28th, 2008 at 17:18
US veto blocks UN anti-Israel resolution
Sun, 28 Dec 2008 08:17:23 GMT
http://www.presstv.ir/detail.aspx?id=79727§ionid=351020202
SNIP
The UN Security Council has been unable to force an end to Israeli attacks against Gaza due to the intervention of the United States.
December 28th, 2008 at 17:25
Gulf leaders to discuss Gaza at economic summit
Sun Dec 28, 2008 8:54am GMT
http://uk.reuters.com/article/usTopNews/idUKTRE4BR0OL20081228?sp=true
SNIP
MUSCAT (Reuters) – Israel’s attack on Gaza will be a new top entry on the agenda of an economic summit of Gulf Arab leaders next week, an Omani minister said on Sunday.
“The issue will impose itself on the agenda. The events of yesterday will have their deserved place in the discussions,” Information Minister Hamad al-Rashdi told Reuters.
December 28th, 2008 at 18:53
Oman presiding over the Summit setting up the Monetary Council of a Monetary Union in which it would not participate?
Does Oman want the value of its rial pegged to the Great WarmongerÂ’s currency?
This weekÂ’s meeting is about the Gulf Monetary Union, not about the Gulf single currency.
Yes, the Gulf Monetary Council is the precursor of the Gulf Central Bank, but it is not the Gulf Central Bank.
INTERVIEW-Gulf Arab agenda on track as Gaza overshadows summit
28 Dec 2008 10:13:41 GMT
Source: Reuters
By Daliah Merzaban and Saleh al-Shaibany
http://www.alertnet.org/thenews/newsdesk/LS124904.htm
SNIP
Oman, which is hosting the meeting and holds the revolving chair of the GCC, is not participating in monetary union.
“They will discuss the monetary union and issue the agreement of the monetary union and the basic law of the monetary council,” [Abdulmalik al-Hinai, undersecretary for economic affairs at Oman's Ministry of National Economy] said.
December 28th, 2008 at 19:24
GCC summit to go ahead as planned
28/12/2008 10:44 MUSCAT, Dec 28 (AFP)
http://www.africasia.com/services/news/newsitem.php?area=mideast&item=081228104418.6v69tl9a.php
SNIP
Saudi Foreign Minister Prince Saud al-Faisal said in Riyadh that Gulf foreign ministers meeting in Muscat on Sunday will focus on “Israeli aggression” in the Gaza Strip, according to the official SPA news agency
December 28th, 2008 at 20:28
Here comes the fun:
The head of the Gulf Cooperation Council (GCC),
WHICH GROUPS WASHINGTON’S REGIONAL ALLIES,
on Saturday described the Israeli attacks as “barbaric” and “ugly,” and Saudi Arabia urged the United States to intervene to end the strikes. [capitalisation IvoÂ’s]
( Gulf leaders to discuss Gaza at economic summit
Sun Dec 28, 2008 11:56am GMT
http://uk.reuters.com/article/burningIssues/idUKTRE4BR19U20081228?sp=true )
It is impossible to be and not to be at the same time and in the same respect, said Aristotle.
This He called the Principle of Non-Contradiction.
December 28th, 2008 at 20:36
This blogger couldnÂ’t make it.
Media teams arrive in Muscat
http://www.gulf-daily-news.com/articles.asp?article=238727&Sn=BNEW&IssueId=3079
Media delegations from around the world continued to arrive in Muscat ahead of the 29th GCC Summit which begins tomorrow. Anticipation is high for this summit especially with the global financial crisis taking its toll coupled with the drop in oil prices. It also comes just a few weeks prior to a change in guard at the White House.
Meanwhile, GCC foreign ministers will meet today to finalise the agenda of topics related to bilateral relations and co-operation in various fields that will be reviewed. These include the economic situation in the region, the Israeli-Palestinian conflict, Iraq and security in the region.