"Bible Revelations" Presentation
Created ?, updated July 13, 2008|
News Reports &
Commentary which reflect the escalating build-up towards the Biblically
prophesied War of Gog and Magog (Armageddon) against Jerusalem and the stalemate
Options left to Israel
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July 13, 2008
The Proposed Iranian Oil
Krassimir Petrov, Ph.D.
January 15, 2006
Abstract: the proposed Iranian Oil Bourse
will accelerate the fall of the American Empire.
Americans cannot allow this to happen,
and if necessary, will use a vast array of strategies to halt or
hobble the operation's exchange: Unilateral Nuclear Strike-this
is a terrible strategic choice. The Americans will likely
use Israel to do their dirty nuclear job.
I. Economics of Empires
A nation-state taxes its own citizens, while an empire taxes
other nation-states. The history of empires, from Greek and
Roman, to Ottoman and British, teaches that the economic
foundation of every single empire is the taxation of other
nations. The imperial ability to tax has always rested on a
better and stronger economy, and as a consequence, a better and
stronger military. One part of the subject taxes went to improve
the living standards of the empire; the other part went to
strengthen the military dominance necessary to enforce the
collection of those taxes.
Historically, taxing the subject state has been in various
forms-usually gold and silver, where those were considered
money, but also slaves, soldiers, crops, cattle, or other
agricultural and natural resources, whatever economic goods the
empire demanded and the subject-state could deliver.
Historically, imperial taxation has always been direct: the
subject state handed over the economic goods directly to the
For the first time in history, in the twentieth century,
America was able to tax the world indirectly, through inflation.
It did not enforce the direct payment of taxes like all of its
predecessor empires did, but distributed instead its own fiat
currency, the U.S. Dollar, to other nations in exchange for
goods with the intended consequence of inflating and devaluing
those dollars and paying back later each dollar with less
economic goods-the difference capturing the U.S. imperial tax.
Here is how this happened.
Early in the 20th century, the U.S. economy began to dominate
the world economy. The U.S. dollar was tied to gold, so that the
value of the dollar neither increased, nor decreased, but
remained the same amount of gold. The Great Depression, with its
preceding inflation from 1921 to 1929 and its subsequent
ballooning government deficits, had substantially increased the
amount of currency in circulation, and thus rendered the backing
of U.S. dollars by gold impossible. This led Roosevelt to
decouple the dollar from gold in 1932. Up to this point, the
U.S. may have well dominated the world economy, but from an
economic point of view, it was not an empire. The fixed value of
the dollar did not allow the Americans to extract economic
benefits from other countries by supplying them with dollars
convertible to gold.
Economically, the American Empire was born with Bretton Woods
in 1945. The U.S. dollar was not fully convertible to gold, but
was made convertible to gold only to foreign governments. This
established the dollar as the reserve currency of the world. It
was possible, because during WWII, the United States had
supplied its allies with provisions, demanding gold as payment,
thus accumulating significant portion of the world's gold. An
Empire would not have been possible if, following the Bretton
Woods arrangement, the dollar supply was kept limited and within
the availability of gold, so as to fully exchange back dollars
for gold. However, the guns-and-butter policy of the 1960's was
an imperial one: the dollar supply was relentlessly increased to
finance Vietnam and LBJ's Great Society. Most of those dollars
were handed over to foreigners in exchange for economic goods,
without the prospect of buying them back at the same value. The
increase in dollar holdings of foreigners via persistent U.S.
trade deficits was tantamount to a tax-the classical inflation
tax that a country imposes on its own citizens, this time around
an inflation tax that U.S. imposed on rest of the world.
When in 1970-1971 foreigners demanded payment for their
dollars in gold, The U.S. Government defaulted on its payment on
August 15, 1971. While the popular spin told the story of
"severing the link between the dollar and gold", in reality the
denial to pay back in gold was an act of bankruptcy by the U.S.
Government. Essentially, the U.S. declared itself an Empire. It
had extracted an enormous amount of economic goods from the rest
of the world, with no intention or ability to return those
goods, and the world was powerless to respond- the world was
taxed and it could not do anything about it.
From that point on, to sustain the American Empire and to
continue to tax the rest of the world, the United States had to
force the world to continue to accept ever-depreciating dollars
in exchange for economic goods and to have the world hold more
and more of those depreciating dollars. It had to give the world
an economic reason to hold them, and that reason was oil.
In 1971, as it became clearer and clearer that the U.S
Government would not be able to buy back its dollars in gold, it
made in 1972-73 an iron-clad arrangement with Saudi Arabia to
support the power of the House of Saud in exchange for accepting
only U.S. dollars for its oil. The rest of OPEC was to follow
suit and also accept only dollars. Because the world had to buy
oil from the Arab oil countries, it had the reason to hold
dollars as payment for oil. Because the world needed ever
increasing quantities of oil at ever increasing oil prices, the
world's demand for dollars could only increase. Even though
dollars could no longer be exchanged for gold, they were now
exchangeable for oil.
The economic essence of this arrangement was that the dollar
was now backed by oil. As long as that was the case, the world
had to accumulate increasing amounts of dollars, because they
needed those dollars to buy oil. As long as the dollar was the
only acceptable payment for oil, its dominance in the world was
assured, and the American Empire could continue to tax the rest
of the world. If, for any reason, the dollar lost its oil
backing, the American Empire would cease to exist. Thus,
Imperial survival dictated that oil be sold only for dollars. It
also dictated that oil reserves were spread around various
sovereign states that weren't strong enough, politically or
militarily, to demand payment for oil in something else. If
someone demanded a different payment, he had to be convinced,
either by political pressure or military means, to change his
The man that actually did demand Euro for his oil was Saddam
Hussein in 2000. At first, his demand was met with ridicule,
later with neglect, but as it became clearer that he meant
business, political pressure was exerted to change his mind.
When other countries, like Iran, wanted payment in other
currencies, most notably Euro and Yen, the danger to the dollar
was clear and present, and a punitive action was in order.
Bush's Shock-and-Awe in Iraq was not about Saddam's nuclear
capabilities, about defending human rights, about spreading
democracy, or even about seizing oil fields; it was about
defending the dollar, ergo the American Empire. It was about
setting an example that anyone who demanded payment in
currencies other than U.S. Dollars would be likewise punished.
Many have criticized Bush for staging the war in Iraq in
order to seize Iraqi oil fields. However, those critics can't
explain why Bush would want to seize those fields-he could
simply print dollars for nothing and use them to get all the oil
in the world that he needs. He must have had some other reason
to invade Iraq.
History teaches that an empire should go to war for one of
two reasons: (1) to defend itself or (2) benefit from war; if
not, as Paul Kennedy illustrates in his magisterial The Rise
and Fall of the Great Powers, a military overstretch will
drain its economic resources and precipitate its collapse.
Economically speaking, in order for an empire to initiate and
conduct a war, its benefits must outweigh its military and
social costs. Benefits from Iraqi oil fields are hardly worth
the long-term, multi-year military cost. Instead, Bush must have
gone into Iraq to defend his Empire. Indeed, this is the case:
two months after the United States invaded Iraq, the Oil for
Food Program was terminated, the Iraqi Euro accounts were
switched back to dollars, and oil was sold once again only for
U.S. dollars. No longer could the world buy oil from Iraq with
Euro. Global dollar supremacy was once again restored. Bush
descended victoriously from a fighter jet and declared the
mission accomplished-he had successfully defended the U.S.
dollar, and thus the American Empire.
II. Iranian Oil Bourse
News Flash ... 13 July, 2008
- The Saudi Gazette The Iranian Oil
Bourse (OIB) was registered on May 5, 2008. The consequences
are horrendous: with the dollar no longer the sole currency
with which to trade oil. Refer full story
The Iranian government has finally developed the ultimate
"nuclear" weapon that can swiftly destroy the financial system
underpinning the American Empire. That weapon is the Iranian Oil
Bourse slated to open in March 2006. It will be based on a
euro-oil-trading mechanism that naturally implies payment for
oil in Euro. In economic terms, this represents a much greater
threat to the hegemony of the dollar than Saddam's, because it
will allow anyone willing either to buy or to sell oil for Euro
to transact on the exchange, thus circumventing the U.S. dollar
altogether. If so, then it is likely that almost everyone will
eagerly adopt this euro oil system:
- The Europeans will not have to buy and hold
dollars in order to secure their payment for oil, but would
instead pay with their own currencies. The adoption of the
euro for oil transactions will provide the European currency
with a reserve status that will benefit the European at the
expense of the Americans.
- The Chinese and the Japanese will be
especially eager to adopt the new exchange, because it will
allow them to drastically lower their enormous dollar
reserves and diversify with Euros, thus protecting
themselves against the depreciation of the dollar. One
portion of their dollars they will still want to hold onto;
a second portion of their dollar holdings they may decide to
dump outright; a third portion of their dollars they will
decide to use up for future payments without replenishing
those dollar holdings, but building up instead their euro
- The Russians have inherent economic interest in
adopting the Euro - the bulk of their trade is with European
countries, with oil-exporting countries, with China, and
with Japan. Adoption of the Euro will immediately take care
of the first two blocs, and will over time facilitate trade
with China and Japan. Also, the Russians seemingly detest
holding depreciating dollars, for they have recently found a
new religion with gold. Russians have also revived their
nationalism, and if embracing the Euro will stab the
Americans, they will gladly do it and smugly watch the
- The Arab oil-exporting countries will eagerly
adopt the Euro as a means of diversifying against rising
mountains of depreciating dollars. Just like the Russians,
their trade is mostly with European countries, and therefore
will prefer the European currency both for its stability and
for avoiding currency risk, not to mention their jihad
against the Infidel Enemy.
Only the British will find themselves between a rock and a
hard place. They have had a strategic partnership with the U.S.
forever, but have also had their natural pull from Europe. So
far, they have had many reasons to stick with the winner.
However, when they see their century-old partner falling, will
they firmly stand behind him or will they deliver the coup de
grace? Still, we should not forget that currently the two
leading oil exchanges are the New York's NYMEX and the London's
International Petroleum Exchange (IPE), even though both of them
are effectively owned by the Americans. It seems more likely
that the British will have to go down with the sinking ship, for
otherwise they will be shooting themselves in the foot by
hurting their own London IPE interests. It is here noteworthy
that for all the rhetoric about the reasons for the surviving
British Pound, the British most likely did not adopt the Euro
namely because the Americans must have pressured them not to:
otherwise the London IPE would have had to switch to Euros, thus
mortally wounding the dollar and their strategic partner.
At any rate, no matter what the British decide, should the
Iranian Oil Bourse accelerate, the interests that matter-those
of Europeans, Chinese, Japanese, Russians, and Arabs-will
eagerly adopt the Euro, thus sealing the fate of the dollar.
Americans cannot allow this to happen, and if necessary, will
use a vast array of strategies to halt or hobble the operation's
- Sabotaging the Exchange-this could be a computer
virus, network, communications, or server attack, various
server security breaches, or a 9-11-type attack on main and
- Coup d'יtat-this is by far the best long-term
strategy available to the Americans.
- Negotiating Acceptable Terms & Limitations-this
is another excellent solution to the Americans. Of course, a
government coup is clearly the preferred strategy, for it
will ensure that the exchange does not operate at all and
does not threaten American interests. However, if an
attempted sabotage or coup d'etat fails, then negotiation is
clearly the second-best available option.
- Joint U.N. War Resolution-this will be, no doubt,
hard to secure given the interests of all other
member-states of the Security Council. Feverish rhetoric
about Iranians developing nuclear weapons undoubtedly serves
to prepare this course of action.
- Unilateral Nuclear Strike-this is a terrible
strategic choice for all the reasons associated with the
next strategy, the Unilateral Total War. The Americans will
likely use Israel to do their dirty nuclear job.
- Unilateral Total War-this is obviously the worst
strategic choice. First, the U.S. military resources have
been already depleted with two wars. Secondly, the Americans
will further alienate other powerful nations. Third, major
dollar-holding countries may decide to quietly retaliate by
dumping their own mountains of dollars, thus preventing the
U.S. from further financing its militant ambitions. Finally,
Iran has strategic alliances with other powerful nations
that may trigger their involvement in war; Iran reputedly
has such alliance with China, India, and Russia, known as
the Shanghai Cooperative Group, a.k.a. Shanghai Coop and a
separate pact with Syria.
Whatever the strategic choice, from a purely economic point
of view, should the Iranian Oil Bourse gain momentum, it will be
eagerly embraced by major economic powers and will precipitate
the demise of the dollar. The collapsing dollar will
dramatically accelerate U.S. inflation and will pressure upward
U.S. long-term interest rates. At this point, the Fed will find
itself between Scylla and Charybdis-between deflation and
hyperinflation-it will be forced fast either to take its
"classical medicine" by deflating, whereby it raises interest
rates, thus inducing a major economic depression, a collapse in
real estate, and an implosion in bond, stock, and derivative
markets, with a total financial collapse, or alternatively, to
take the Weimar way out by inflating, whereby it pegs the
long-bond yield, raises the Helicopters and drowns the financial
system in liquidity, bailing out numerous LTCMs and
hyperinflating the economy.
The Austrian theory of money, credit, and business cycles
teaches us that there is no in-between Scylla and Charybdis.
Sooner or later, the monetary system must swing one way or the
other, forcing the Fed to make its choice. No doubt,
Commander-in-Chief Ben Bernanke, a renowned scholar of the Great
Depression and an adept Black Hawk pilot, will choose inflation.
Helicopter Ben, oblivious to Rothbard's America's Great
Depression, has nonetheless mastered the lessons of the
Great Depression and the annihilating power of deflations. The
Maestro has taught him the panacea of every single financial
problem-to inflate, come hell or high water. He has even taught
the Japanese his own ingenious unconventional ways to battle the
deflationary liquidity trap. Like his mentor, he has dreamed of
battling a Kondratieff Winter. To avoid deflation, he will
resort to the printing presses; he will recall all helicopters
from the 800 overseas U.S. military bases; and, if necessary, he
will monetize everything in sight. His ultimate accomplishment
will be the hyperinflationary destruction of the American
currency and from its ashes will rise the next reserve currency
of the world-that barbarous relic called gold.
"The Real Reasons for the Upcoming War in Iraq"
Real Reasons Why Iran is the Next Target"
About the Author
Krassimir Petrov (Krassimir_Petrov@hotmail.com)
has received his Ph. D. in economics from the Ohio State
University and currently teaches Macroeconomics, International
Finance, and Econometrics at the American University in
Bulgaria. He is looking for a career in Dubai or the U. A. E.
Also by this author
"China's Great Depression"
"Masters of Austrian Investment Analysis"
"Austrian Analysis of U.S. Inflation"
"Oil Performance in a Worldwide Depression"
July 19, 1999
Extract of a Commentary by Angelo M. Codevilla, who
teaches international relations at Boston University and directs strategic
studies at the Institute for Advanced Strategic and Political Studies.
The military threat to Israel used to consist of the massed
armies of its immediate neighbors. But today's most ominous threat is weapons
of mass destruction carried by missiles from Iraq, Iran, Syria and perhaps
Libya. Israel's foes believe they could break Israeli military
power in the opening minutes of a war by launching ballistic missile strikes
with chemical or biological weapons against mobilization centers and weapons-storage
areas. These countries have made an enormous investment in new missiles,
most stored in deep tunnels, highly fortified bunkers or mobile launchers.
Gen. Eitan Ben Eliahu of the Israeli Air Force has estimated
that Syria alone already has some 1,000 ballistic missiles, and that within
a few years most will have long ranges. Syria does not need long-range
missiles to hit Israel, but with longer ranges, each missile fired
from Syria would develop enough re-entry speed to negate Israel's budding
antimissile system, the Arrow. Already Iran's Shahib 3 missiles -
developed with Russian, Chinese and North Korean help - stress the Arrow;
the forthcoming Shahib 4's will overwhelm it.
To keep up with the increasing capability of enemy missiles,
Israel's Arrow needs to be connected to the projected U.S. space-based
fire-control system. But the Clinton administration doesn't want this system
for the U.S., much less for Israel, for fear of violating the 1972 U.S.-Soviet
Antiballistic Missile Treaty. To handle the overwhelming number of enemy
missiles, Israel would need a U.S. orbital antimissile device. But the
administration has delayed tests of a space-based laser that had been set
The Israeli Air Force has some pretty sophisticated plans
for the nearly impossible job of striking enemy missiles before they are
launched. But these plans require lots of deep-strike F-15 I aircraft.
Israel has only 25; it has been negotiating for 15 more. Washington would
rather see Israel buy more F-16's, which can't help Israel with its missile
problem. The F-16's are less threatening to Syria, which the administration
sees as the key to peace.
Israel has sought alliances with Turkey and Jordan, because
their regimes are stable, and because their friendship is secured in part
by their enmity with Syria. Israel has talked about cooperation on missile
defense with both Ankara and Amman, which see themselves as part of the
West against Russian-supported forces in the region. Another main reason
why Turkey and Jordan are interested in the alliance is Israel's deep-strike
capability against Iran and Iraq.
Suggested additional reading on this Web Site:
War on God! Any non-Israeli
power today, claiming rights over Jerusalem, or accusing Israel of having
designs on world domination (Illuminati), simply do not conform with the
Divine Mandate of God, and are direct challenges against the Plan
of God for Jerusalem and all Mankind. This confrontation with God
will culminate in the Final War of Gog and Magog (War of Armageddon), as
foretold, 3000 years in advance, in the Bible.
- Countdown to Armageddon" FREE extract of
140 page book reviewing the amazing fulfillment of Biblical Prophecy in
the history of Israel to date - and how the current Peace Process will
lead to a Nuclear Holocaust, necessitating the physical Return of
Messiah to save Israel from total annihilation and the setting up of His
World Rule from Jerusalem according to His Oath.
New World Order of the Kingdom of YHVH which will be
established by the returning Messiah, over all nations, from
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