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    O.T. - Now Here's a Real Problem

    Nuclear-armed Iran risks 'World War III,' Bush says - International Herald Tribune

    Nuclear-armed Iran risks 'World War III,' Bush says

    By Brian Knowlton
    Published: October 17, 2007





    WASHINGTON: President George W. Bush said Wednesday that he thought Russia still wanted to stop Iran from developing a nuclear weapon. But stepping up his own rhetoric, the president warned that for Tehran to possess such a weapon raised the risk of a "World War III."
    That comment, made during a 45-minute news conference, came as reporters probed for the president's reaction to a warning Tuesday by President Vladimir Putin of Russia against any military strikes on Iran to halt the nuclear work it has continued in defiance of much of the world. Iran says the program is purely peaceful.
    "If Iran had a nuclear weapon, it'd be a dangerous threat to world peace," Bush said. "So I told people that if you're interested in avoiding World War III, it seems like you ought to be interested" in ensuring Iran not gain the capacity to develop such weapons.
    "I take the threat of Iran with a nuclear weapon very seriously," he said.
    The United States has said it is pursuing a diplomatic approach to Iran, including the threat of a new round of United Nations sanctions, but has refused to rule out military action to halt Iran's nuclear program, which it believes might be used covertly to develop nuclear weapons.

    But in Tehran on Tuesday, Putin said, "Not only should we reject the use of force, but also the mention of force as a possibility."
    Asked Wednesday about photos that showed a seemingly cordial meeting in Tehran between Putin and President Mahmoud Ahmadinejad, Bush said he was loath to read too much into photographs and wanted to hear Putin's own "readout" of the meeting.
    Proposed new UN sanctions against Iran, pressed in particular by the United States and France, have so far been blocked by Russia, which holds a veto on the Security Council and wants further dialogue with Tehran.
    But Putin has gone further, questioning what evidence the Americans and French have for asserting that Iran intends to make nuclear weapons.
    When President Nicolas Sarkozy of France visited Putin in Moscow early this month, Putin said: "We don't have information showing that Iran is striving to produce nuclear weapons. That's why we're proceeding on the basis that Iran does not have such plans."
    Sarkozy said the two might "not have quite the same analysis of the situation."
    France has argued that aggressive moves toward multilateral sanctions against Iran are the best way to avoid military against Iran.
    And while Putin says that Russia is taking Iran's descriptions of its program at face value, Secretary of State Condoleezza Rice recently asserted that Iran was lying to UN inspectors.
    Bush, seeking to explain his relationship with a man whom he once said he viewed as a trusted ally against terrorism - but who has since led his country in steadily more authoritarian directions - said that he and Putin "don't agree on a lot of issues."
    Still, he said, it was vital to maintain an open and candid relationship that allowed each man to speak his mind.
    The president nonetheless acknowledged American frustrations at trying to influence Russia.
    "In terms of whether or not it's possible to reprogram the kind of basic Russian DNA, which is a centralized authority," Bush said, "that's hard to do."
    The best he could do, the president said, was to try to make it clear that it is in Moscow's interests to have good relations with the West, and an open and democratic government


    CFH HMagic bball season next year.
    Let my Fred's Four Horsemen ride: Georges, Hogue, Nader, and McKay.

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    Re: O.T. - Now Here's a Real Problem

    Japan and China lead flight from the dollar - Telegraph



    Japan and China lead flight from the dollar


    By Ambrose Evans-Pritchard, International Business Editor

    Last Updated: 12:26am BST 18/10/2007

    Japan and China led a record withdrawl of foreign funds from the United States in August, heightening fears of a fresh slide in the dollar and a spike in US bond yields.
    The US requires $70bn a month in capital inflows to cover its current account deficit

    Data from the US Treasury showed outflows of $163bn (£80bn) from all forms of US investments. "These numbers are absolutely stunning," said Marc Ostwald, an economist at Insinger de Beaufort.

    Asian investors dumped $52bn worth of US Treasury bonds alone, led by Japan ($23bn), China ($14.2bn) and Taiwan ($5bn). It is the first time since 1998 that foreigners have, on balance, sold Treasuries.
    Mr Ostwald warned that US bond yields could start to rise again unless the outflows reverse quickly. "Woe betide US Treasuries if inflation does not remain benign," he said.
    The release comes a day after the IMF warned that the dollar was still overvalued and likely to face "some depreciation in the medium term".
    The dollar's short-lived rally over recent days stopped abruptly on the data, increasing pressure on US Treasury Secretary Hank Paulson to shore up Washington's "strong dollar" rhetoric at the G7 summit this week.
    The Greenback has already fallen below parity against the Canadian Loonie for the first time since 1976 and has touched record lows against a global basket. It closed at $2.032 against the pound.
    David Woo, an analyst at Barclays Capital, said Washington was happy to see the dollar slide. "They don't care so long as the fall is not disorderly. They see it as a way of correcting the deficit. " he said.
    Mr Woo said a chunk of the August outflows may have come from foreigners borrowing in the US during the liquidity crunch to meet needs in euros. "We think it may be a one-off," he said.
    The US requires $70bn a month in capital inflows to cover its current account deficit, but the key sources of finance are drying up one by one.
    BNP Paribas said America has relied on "hot money" from abroad to cover 25pc to 30pc of the US short-term credit and commercial paper market over the last two years.
    This flow is now in danger after the seizure in parts of the market over the summer and after the Federal Reserve's half point rate cut, which has shaved the US yield advantage over other countries.
    Ian Stannard, a Paribas currency analyst, said the data was "extremely negative" for the dollar. "It exceeds the worst fears. It is not just foreigners who are selling US assets. Americans are turning their back as well," he said.
    Central banks in Singapore, Korea, Taiwan, and Vietnam have all begun to cut purchases of US bonds, or signalled an intent to do so. In effect, they are giving up trying to hold down their currencies because the policy is starting to set off inflation.
    The Treasury data would have been even worse if it had not been for $60bn of inflows from hedge funds based in Britain and the Caymans, which needed to cover US positions at the height of the credit crunch.


    CFH HMagic bball season next year.
    Let my Fred's Four Horsemen ride: Georges, Hogue, Nader, and McKay.

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    Re: O.T. - Now Here's a Real Problem

    WWIII,

    IMO, I've thought this as well too, but part of it may be how we and other western nations deal with the possibility of Iran with a nuke. I think we are closer to WWIII since the Cuban missile crisis or the K-129 incident if you believe the conspiracy theories, which there is actually substantial evidence to support.

    I



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    Re: O.T. - Now Here's a Real Problem

    You tryin' to depress me Wesley?

    Well, your first post pretty much confirms my thought on Iran. They need to be headed off at the pass, before they acquire nuclear weapons. That is pretty clear.

    As to your second post, it's a pretty gloomy outlook. Maybe a bit on the negative side of reality, but it's something that we certainly need to deal with, and now. This whole mortgage mess needs to be allowed to play out. Those who were giving bad loans, or investing in funds that supported bad loan and the homeowners who took them- all need to face the music. High risk/ high reward does mean high risk too. There's no reason the federal government should bail them all out, and cutting interest rates to help them only hurts us in the long run, and delays the inevitable.



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    Re: O.T. - Now Here's a Real Problem

    The world has changhed in thirty years, yet some basic problems such as nuclear weapons and economic stability hang around in a different form. Topics like these reinforce the need to remain vigilant.


    CFH HMagic bball season next year.
    Let my Fred's Four Horsemen ride: Georges, Hogue, Nader, and McKay.

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    Re: O.T. - Now Here's a Real Problem

    Why don't we just let the rest of the damn world solve a few problems for once. Let's let a few of these countries go and start attacking each other, of course they will probably all just attack israel. Not sure why we have to be the teacher in charge of this recess all the time.

    No I am not serious.


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    Re: O.T. - Now Here's a Real Problem

    Its just nice to see the US and France playing nice.



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    Re: O.T. - Now Here's a Real Problem

    Quote Originally Posted by bostinelosd View Post
    Its just nice to see the US and France playing nice.
    I agree. That's why the last election in France was so important. They are our oldest ally after all.



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    Re: O.T. - Now Here's a Real Problem

    I dont understand their goal. Have nukes, blow up all enemies and ultimately kill yourselves. What is the point? With Hitler and centuries of other dictators it was world domination. Even way back with the persians. These new guys just want eradication. Its scary. If I were Allah, I would take the fanatics who are causing this crap, and instead of giving them 1000 virgins, I would give them 1000 Rosie O'donnells covered in peanut butter. If life were fair in any way.



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    Re: O.T. - Now Here's a Real Problem

    Quote Originally Posted by bostinelosd View Post
    I dont understand their goal. Have nukes, blow up all enemies and ultimately kill yourselves. What is the point? With Hitler and centuries of other dictators it was world domination. Even way back with the persians. These new guys just want eradication. Its scary. If I were Allah, I would take the fanatics who are causing this crap, and instead of giving them 1000 virgins, I would give them 1000 Rosie O'donnells covered in peanut butter. If life were fair in any way.
    Who wants 1,000 virgins, after the first 15-20 I will be asking for a cougar! Raaaawwrrrr!


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    Re: O.T. - Now Here's a Real Problem

    Quote Originally Posted by bostinelosd View Post
    I dont understand their goal. Have nukes, blow up all enemies and ultimately kill yourselves. What is the point? With Hitler and centuries of other dictators it was world domination. Even way back with the persians. These new guys just want eradication. Its scary. If I were Allah, I would take the fanatics who are causing this crap, and instead of giving them 1000 virgins, I would give them 1000 Rosie O'donnells covered in peanut butter. If life were fair in any way.
    If by “they,” you are referring to the Iranian, then their goal is very simple: to become the dominant regional power. Nuclear weapons will help them achieve this, even if they never intend on using them, which they don't. However, I’m not sure if they really want nuclear weapons or just to be the country that stands up to the USA. Maybe it is a little of both, as both help them achieve their goal.



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    Re: O.T. - Now Here's a Real Problem

    Ok, so the president gets in a huff about the Armenian genocide vote because we want to be nice to Turkey so they do what we want them to. But he can toss out World War III rhetoric that would be much more harmful to our standing in the world? Come on, thats bordering on rediculous?

    What if some Democrat had said that Israel bombing a nuclear facility in Syria was bringing us closer to WWIII? It would keep Limbaugh and Hannity busy for a week.

    How about this scenario. You and your neighbor walk into school everyday. Every single day, the hall monitor forces you to open your backpack for inspection. Your neighbor never gets inspected. Would you start to resent the hall monitor?



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    Re: O.T. - Now Here's a Real Problem

    Quote Originally Posted by clone52 View Post
    What if some Democrat had said that Israel bombing a nuclear facility in Syria was bringing us closer to WWIII? It would keep Limbaugh and Hannity busy for a week.
    Problem with that, is that nobody outside of Syria (and I mean NOBODY) wants them to have a nuke. That nobody would include Iran.

    Part of the Iranian nuke problem (or any country in the area) is the high risk that a terrorist group would somehow get access to it, whether supported by the Iranian gov't or not. It would be too easy for a terrorist group to acquire one through the black market. There are so much hatred for the West and the Jewish people in the area, the risk is just too high.



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    Re: O.T. - Now Here's a Real Problem

    Quote Originally Posted by clone52 View Post

    How about this scenario. You and your neighbor walk into school everyday. Every single day, the hall monitor forces you to open your backpack for inspection. Your neighbor never gets inspected. Would you start to resent the hall monitor?
    Allow me to carefully obliterate that logic. If I am publicly commenting that I believe a certain group of people within that school should be removed from the face of the Earth, or several groups in this case, then I would suppose that my bag should be checked.



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    Re: O.T. - Now Here's a Real Problem

    There is also an influential sect within Shi'ism (Of which Iran is the epicenter) that believes that man can hasten the coming of the end of the world by creating a general nuclear exchange, which will bring forth the "Last Imam."

    This isn't a whacked-out minority we are speaking about, either. This is mainstream religious/political thought, as taught in schools.


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