Reply #3: I agree, RC. Not only that, China & Venezuela just signed a deal.... [View All]

Venezuela is working a huge deal with China, whereby China is helping Venezuela build and upgrade oil refineries and pipelines. They're considering one through to the Panama Canal for easier access to get Venezuela's oil to China.

Venezuela's motives are to make themselves less dependent on the U.S. market for their oil. AND Chavez has said he wants to start trading his oil for Euros...and I believe that has already started.

China is heavily invested in U.S. Treasury debt, and they're not likely to dump it all at once: that would throw the whole world into a financial crisis. But they have been buying our debt at a MUCH slower pace, and selling our currency.

One BIG reason bush wants to attack Iran (besides the oil), is because in March (the 25th, I believe) Iran will be opening their own market to trade oil contracts on the world market, and they have preliminarily indicated that they intend to be trading them in Euros. They've talked about trading oil contracts for a basket of different currencies, but I'm interested to see how they'll finally settle the matter...it would be interesting to see how they'd be able to peg everything if they did something like that.

China has played nice with the U.S. up to a point, but only because they have better manners than our administration these days, as well as a LONG TERM view of policy decisions...something unknown in the US, except for PNAC and world domination fantasies.

LOL! I'm gonna learn to speak Chinese if it kills me!!

:kick::kick::kick: