IN A CANDID AND REVEALING ARTICLE ON THE WWW.CFR.ORG SITE THE ESTABLISHMENT ELITES ARE ANTICIPATING AN ECONOMIC CRISIS WHEN THE PETROEURO IS IN PLACE.

The Council on Foreign Relations is now openly talking about the prospect of a move to the PetroEuro. OPEC is seriously discussing whether oil should be sold in Euros versus U.S. Dollars and the Council on Foreign Relations seems to think that this might happen in light of the dramatic decline in the value of the U.S. Dollar. Lee Hudson Teslik wrote a piece published on the CFR’s web site entitled “Considering the PetroEuro” citing various positives for Europe if a PetroEuro were to be established. Teslik even admits that a move from the PetroDollar to the PetroEuro would cause the U.S. Dollar to decline even further. Teslik downplays the harm that such a move would cause the U.S. economy despite the fact that the only thing keeping the U.S. Dollar afloat is the U.S. military ensuring that nation states trade their oil for U.S. Dollars. Remove this link, and a U.S. Dollar may soon be worth less than a roll of toilet paper. This would have a catastrophic effect on the U.S. economy.

The U.S. economy is already unraveling and here are some of the reasons why.

- Iran has already dropped oil sales in U.S. Dollars entirely thus reducing demand for them.

- Oil producing countries are thinking about depegging their currency from the U.S. Dollar.

- China holds over $1 Trillion in U.S. currency reserves and could send the value of the U.S. Dollar into a tailspin if they begin dumping them.

- The Bush administration has announced a proposal to bailout the big banks by fixing interest rates to stave off a massive wave of foreclosures due to the subprime mortgage debacle.

- Irresponsible policies from the Federal Reserve have resulted in rampant inflation with the price of gold and oil lingering around all-time nominal highs. These policies have resulted in the U.S. Dollar Index reaching all-time lows.

- Food prices have increased as a result of the bio-fuel scam which is converting food into fuel under the fraud of man-made climate change.

- The U.S. Dollar is a fiat currency and is not backed by anything tangible. Its link to oil, is only in place because the U.S. military enforces the use of the U.S. Dollar for oil sales. If more nation states trade Euros for oil instead of Dollars for oil, the value of the U.S. Dollar will fall.

- The American middle class and poor are being squeezed by an engineered deflation in the housing market and an engineered inflation in the U.S. Dollar. The result will be the loss of equity in homes and the reduction in purchasing power in individual's bank accounts.

- The U.S. debt recently went over $9 Trillion and continues to go up as the U.S. military continues its expansion of an American empire.

The U.S. economy is on the road to a complete collapse much like what happened in the Soviet Union during the late 80s and early 90s. A switch to the PetroEuro from the PetroDollar would be a dagger through the heart of the U.S. economy. It is remarkable that the CFR would actually publish an article that ponders a move to the PetroEuro without much consideration for the U.S. economy or the American people. At the end of the article, Teslik concludes that it is likely that other nations will follow Iran's lead and begin diversifying away from the U.S. Dollar. If this holds true, this will not be good for the value of the U.S. Dollar and the American people will suffer. Any move to a PetroEuro from a PetroDollar would be a disaster for the American people.

The central bankers and elites appear to be attempting to manage a slow decline of the U.S. Dollar and stave off a collapse of the banking system. The bailouts from the Federal Reserve and Bush's proposal to fix interest rates are clear proof that they are doing everything they can to bailout the banks. With that in mind, the very fact that an institution like the CFR would be pondering a switch to a PetroEuro currency shows that they do not have much confidence in the future of the U.S. Dollar. This should be an indication to get your money out of U.S. Dollars and into gold, silver and other tangibles.