Tuesday :: Mar 21, 2006

Saudi Arabia And Dubai Threaten To Convert Reserves From Dollars To Euros In Retaliation For Port Deal

by Steve

Whether it is simply a threat, or a sign that assurances were given and then broken, both the UAE and Saudi Arabia are sending signals that in retaliation for the failed Dubai Ports World deal, they will move some of their reserves from dollars to Euros.

Both countries are condemning the congressional and public rejection of the DPW deal as discrimination, which is odd coming from two countries that continue to assist Al Qaeda, sent us 17 of the 19 9/11 murderers, and enforce the Arab economic embargo against Israel.

Such threats demonstrate what control the Persian Gulf has over the Bush Administration and our foreign and economic policies. Sure, we use Dubai as a major port for our Navy, and Cheney can't attack Iran without this port. Yet we also provide a military umbrella for both countries, and perhaps it is time for the Democrats to make an issue of why it seems that Persian Gulf oil states seem to own this administration, when it may be time for us to leave these states to the tender mercies of their neighbors and Al Qaeda agitation.

Steve :: 12:32 PM :: Comments (31) :: TrackBack (0) :: Digg It!