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FATTENING WALL STREET — Mike Whitney reports on the rapid metamorphosis of new Fed Chair Janet Yallin into a lackey for the bankers, bond traders and brokers. The New Religious Wars Over the Environment: Joyce Nelson charts the looming confrontation between the Catholic Church and fundamentalists over climate change, extinction and GMOs; A People’s History of Mexican Constitutions: Andrew Smolski on the 200 year-long struggle of Mexico’s peasants, indigenous people and workers to secure legal rights and liberties; Spying on Black Writers: Ron Jacobs uncovers the FBI’s 50 year-long obsession with black poets, novelists and essayists; O Elephant! JoAnn Wypijewski on the grim history of circus elephants; PLUS: Jeffrey St. Clair on birds and climate change; Chris Floyd on the US as nuclear bully; Seth Sandronsky on Van Jones’s blind spot; Lee Ballinger on musicians and the State Department; and Kim Nicolini on the films of JC Chandor.
Stand Tall, But Tell the Truth

An Open Letter to Tony Blair

by EDWARD TEAGUE

Dear Tony,

Stand tall, yield to no-one. Your stand by George is to be admired. You need however, to tell the UK electorate the truth.

1. This war is to protect US interests. The US has a massive Trade Deficit, revealed only on Friday for Y/E 2002 @ $460Bn.

2. That means for the US they have to maintain the flow of dollars in world trade / capital flows etc., (Gordon will provide details)–so far this has been mainly supported by the Japanese buying US Bonds, property etc.,

3.However, the euro since launching has shown a very healthy appreciation against the $ caused by;

4. Build up of national Forex reserves in Euros worldwide–UK, Russia, China(see Prodi’s visit Sept 2002 with Chirac), and consequent run down of $ rserves overseas–EU etc.,

5. Increasing world trade denominated in euros–EU has bigger share of World Trade than US–set to rise when EU expands.

6.Iraq denominated oil sales inn euros in April 2000 and UN held reserves. Then euro = 83 cents$ now (today) $1.09 a 20% appreciation.

7.Venezuela holding back oil supplies, arranging barter deals. Euro bond market increasing worldwide–eg. Oil producing Maylaysia raised $500Mn $ bonds for State Oil Co.

8. Resulting not only in $/euro decline but increased oil/energy cost in US (e.g gas at the pump up from $1.20 June 2002 to $1.90 plus today.

9.France wants to sell Air Buses in euros. Maximise returns on costs incurred in euros.

10.By the way, don’t forget that George II dismissed Kyoto obligations and Under Secretary Bolton (jewish) signed letter to Khofi Annan withdrawing from World Court proposals. (Also factor on counterfeit $’s from Iran and DPRK). When will the drugs merchants want payment in euros?

Therefore as you have seen the only route is for US (unless they sell dollars to buy euros and prompt further decline in the dollar), to use it’s second major tool for dominating world affairs and economy–Military force. Hence need for swift, short, sharp resolution at UN. Those not with us(US) are against us–buy off the Turks with aid, sort out post Saddam trade with French and Russians. (Main recipient of Iraqi oil (currently) is US via Russian Oil traders).

Therefore your bold move to support is to be applauded. As everyone knows, Saddam has no weapons of mass destruction (i.e gas, biological nor the means of deliveryo outside Iraq) including all military forces in NATO and UN also know such weapons have limited lethality or use in the battlefield.

Iraq has not and is unlikely to have nuclear weapons or means of delivery in foreseeable future.

Nobody gives a shit about Iraqi people–expendable as, Ruandans, Matabele that Mugabe slaughtered (with North Korean mercenary help) in 1,000’s, everyone stood back whilst millions of people lost lives in Iran/Iraq war.

Therefore your policy is not only wise but the only sensible one available.

Be careful however that, if on the "fog of war" the Israelis decide to resolve the Palestinian problem, a la Sabra and Chattila camps.

As a point of solidarity I will be circulating my letter of support for you.

Regards

EDWARD TEAGUE can be reached at Edward@softwaresystemseurope.com