If you’re one of those people who sees the world through the pitifully narrow viewport provided to you by the lamestream media, the following information will surely be news to you.
Over the last several days, beginning around February 1, four undersea communication cables (make that eight) in the Mediterranean Sea and the Persian Gulf have been severed. The result has been that much of the Middle East has seen its internet capability dramatically reduced or, in the case of Iran, nearly eliminated. Against all odds, the outages have not effected either Israel or U.S.-occupied Iraq. Obviously, God must be with us.
The explanation offered for these usually rare occurrences is that ships have dragged anchors across the cables. Four of them. Affecting the same region. In two or three days.
Yeah, right.
This has about the same probability of occurring as the only three steel-framed buildings ever to collapse from fire doing so on the same day. In short, these are fairy-tales for the masses who are happy to believe any explanation offered so they can get back to watching the Super Bowl, American Idol, or The Power Hour. Except, as I alluded to at the outset, the masses haven’t even been told about the cable-cutting.
This leads me to believe that something significant is afoot. I don’t know just what it is, but speculation around the blogosphere points to two possibilities. The first is that the inevitable U.S. attack on Iran is imminent and the cables were cut to ensure that only the U.S. version of events could be heard. The second has to do with stopping the ongoing dollar-based disinvestment by the oil-producing countries. Either or both may be true. Or it could be something else, as yet unimagined, in addition to or instead of the first two. Perhaps Jimmy Carter can enlighten us.
Initially, I thought that an attack on Iran was the likely reason for cutting the cables since they, like Iraq before them, are planning to sell their oil for currencies other than the dollar. That may still prove to be the case, but I’ve come to think that it has more to do with propping up the dollar; albeit only temporarily. This would allow certain well-connected interests to divest themselves of their dollar-based assets before the stampede ensues. I believe today’s 370 point drop in the Dow is evidence of this. Once the cables are repaired electronic trades and wire transfers from the Middle East should resume in earnest.
Look out below.
I’ve been of the belief that the U.S. stock market will collapse for some time. Multiple Fed Funds Rate cuts have only managed to postpone the collapse and it appears that they are losing their effectiveness. Two recent cuts totaling 125 basis points sparked a rally that appears to have been short-lived. Today’s sell-off alone erased roughly a third of the gains sparked by the rate cuts over the last two weeks. That sucking sound is your retirement disappearing down the drain of Bush’s endless war.
All of our creditors throughout Asia and the Middle East are looking for ways to opt out of the collapsing dollar. Trying to warn or isolate them by severing their communication links may slow their rush to the exits, but it won’t change their direction. The act of cutting these cables is a preemptive act of war and it tells the affected countries that the U.S. views them as enemies. Will they retaliate and, if so, when and how?
Well, I had a bit of fun this past Sunday, March 9th. It seems my good friend Ernie Hancock was off minding some R3volutionary duties in California and he needed someone to cover his Sunday morning radio show. So naturally he called me. Yeah, right.
I read a great deal of information from many, many sources and some of the things I’ve read indicate that today, or at least the near future, could be more than a little interesting. If the things I’ve read are correct we may be in for a good deal of unpleasantness, to put it mildly. I’ll try to outline my thoughts on this in a cogent fashion.
Alan Greenspan
