Palin is always ahead of the issues, be it energy, defense, weak dollar, inflation, debt, taxes, rule of law, etc., you name it. For those who thinks she isn’t smart enough, read this. T. Belman.
Governor Palin’s Prescience Proven on the Effect of a Weakened Dollar on Energy Prices
by: Whitney Pitcher, C4P
Governor Palin has been very outspoken about the need to become energy independence by opening up drilling both on and offshore in Alaska and through the country. Energy independence is interrelated with multiple levels of security. Producing more of our own energy helps protect us from the threats of dangerous regimes who are also energy producers and helps shields us from higher prices of oil when their is instability in those countries. Energy independence also produces American jobs providing economic security. Additionally, there is an interrelatedness between energy independence and monetary security. This is yet another issue that Governor Palin has been prescient on. On October 9, 2009, Governor Palin wrote a Facebook post in response to discussion that an international currency should replace the American dollar as the global currency. She discussed how the devalued dollar, energy independence, and the national debt are all connected:
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The British newspaper The Independent reported today that Gulf oil producers were negotiating with Russia, China, Japan and France to replace the dollar in pricing oil with a basket of currencies.[1] According to the Wall Street Journal, Arab oil officials have denied the story, but even the possibility of such a talk weakens the dollar and renews fears about its continued viability as an international reserve currency.[2] In fact, today a United Nations official called for a new global reserve currency to replace the dollar and end our “privilege” to run up huge deficits.[3] We can see the effect of this in the price of gold, which hit a record high today in response to fears about the weakened dollar.[4]
All of this is a result of our out-of-control debt. This is why we need to rein in spending, and this is also why we need energy independence. A weakened dollar means higher commodity prices. This will make it more difficult to pay our bills – including the bill to import oil.
In his book Architects of Ruin, Peter Schweizer points out that the Obama administration is focusing primarily on “green energy,” while ignoring our need to develop our domestic conventional energy resources.[5] We’re ignoring the looming crisis caused by our dependence on foreign oil. Because we’re dependent on foreign nations for our oil, we’re also at their mercy if they decide to dump the dollar as their trade currency. We can’t allow ourselves to be so vulnerable to the whims of foreign nations. That’s why we must develop our own domestic supplies of oil and gas.
Governor Palin recognized that there is a relationship between a devalued dollar and higher energy prices. At the time that note was posted, oil was around $70 a barrel and gas prices were at about $2.46 a gallon nationwide. More than a year later, in November of 2010, following the Fed’s decision to engage in a second round of quantitative easing by essentially printing hundreds of billions of dollars, Governor Palin shared these words to a trade association meeting in Arizona (emphasis mine):
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The Fed hopes doing this may buy us a little temporary economic growth by supplying banks with extra cash which they could then lend out to businesses. But it’s far from certain this will even work. After all, the problem isn’t that banks don’t have enough cash on hand – it’s that they don’t want to lend it out, because they don’t trust the current economic climate.
And if it doesn’t work, what do we do then? Print even more money? What’s the end game here? Where will all this money printing on an unprecedented scale take us? Do we have any guarantees that QE2 won’t be followed by QE3, 4, and 5, until eventually – inevitably – no one will want to buy our debt anymore? What happens if the Fed becomes not just the buyer of last resort, but the buyer of only resort?
All this pump priming will come at a serious price. And I mean that literally: everyone who ever goes out shopping for groceries knows that prices have risen significantly over the past year or so. Pump priming would push them even higher. And it’s not just groceries. Oil recently hit a six month high, at more than $87 a barrel. The weak dollar – a direct result of the Fed’s decision to dump more dollars onto the market – is pushing oil prices upwards. That’s like an extra tax on earnings. And the worst part of it: because the Obama White House refuses to open up our offshore and onshore oil reserves for exploration, most of that money will go directly to foreign regimes who don’t have America’s best interests at heart.
Again, Governor Palin saw the effect of a weakened dollar on energy prices. Now the price of a barrel of oil is just below $100 a barrel and nationwide gas prices are hovering at about $4 a gallon. A study just released by the Congressional Joint Economic Commission, a bipartisan and bicameral committee, shows that the devalued dollar has added $17.04 dollars to the price of a barrel of oil and 56.5 cents to the price of a gallon of gas.The Weekly Standard reports:
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The weakening of the dollar since 2008 has added 56.5 cents to the price of gasoline, the congressional Joint Economic Committee (JEC) has found. The average price of gasoline would be $3.40 per gallon, instead of the current average price nationally of nearly $4, if the dollar hadn’t declined.
[…]
When the Federal Reserve uses loose money to boost the economy in the short-term, consumers pay the price,” the study said. Because oil is traded in dollars, oil prices increase to compensate for the falling value of the dollar. And the price of gasoline at the pump also increases.
“Since the Fed launched its program of quantitative easing in late November 2008, the value (trade-weighted) of the U.S. dollar has declined 14 percent,” the study calculated. “The declining value of the U.S. dollar has added $17.04 per barrel to the price of oil (Brent Crude),” thus driving up the price of gasoline.
“Arguably there are other factors affecting the price of gasoline than just the price of oil,” according to the study. “[G]iven that oil is the primary input to gasoline and the close correlation [between oil and gasoline prices],” JEC Republicans said it is possible “to determine how much of the current price of gasoline is attributable to the declining value of the dollar.
Suffice it to say, Governor Palin was right again, and she saw it nineteen months before everyone else did–the value of the dollar effects energy commodity prices which can affect prices throughout the economy. Printing hundreds of billions of dollars is no solution for an economic boost, and in fact, it has done just the opposite. This brings us full circle, as Governor Palin said in November, the money the Fed has printed essentially is re-directed towards foreign countries for their oil, when we have the opportunity to drill for it here to provide security on multiple levels. Addressing America’s energy problem requires a strong energy policy and a prudent monetary policy, just as Governor Palin has promoted.
Felix: It’s in the final analysis up to us, not you or your realpolitik. You are only useful idiots provided to test us and to motivate us into fulfilling our purpose.
“The War of Gog Umagog. G-d warned the Jewish people that if they did not return to the Biblical Torah laws He would turn the United Nations against Israel led by a mighty leader who was predicted will to be president of th world’s greatest superpower. During this war weapons of mass destruction would be used with giant sized weapons resembling enormous arrows that would be guided by an inner intelligence or programming. They foretold of the war lasting 12 minutes which would leave only a third of the world alive. During this war it is said that it will be impossible to distinguish between day and night due to the thick black coating that will cover the world’s skies. The war will be fought over who will own the Jerusalem and the parts of Israel that were won by the Israelis during their many wars since statehood. At the point of being surrounded by literally over 140 nations and threatened with total extermination the Jewish people are predicted to return to G-d during that war from which they will be saved by many miracles”
Felix after the War of Gog U Magog, I don’t think global warming whether true or myth will be a concern to any left standing. 🙂
Felix I can say one thing with certainty; when that insignificant and totally worthless People called the Irish return to their natural state of dwelling in caves and trees, The Jews will still be here and still be thriving because unlike you Irish and Europeans we Jews are an eternal nation.
“Israel is an eternal nation. Even when Israel distances itself from G-d, it remains a light unto the nations, for Israel is too strong to be contained and the spirit of Israel is eternal and cannot be extinguished. The remnant of Israel has carried forward the spirit of Israel within it, as a person is the bearer of a soul. The spirit of Israel remains, and the nation of Israel survives, and Israel will once again be great–for its people will always remain a nation of G-d.”
“Israel is an eternal nation that cannot separate itself from G-d, for Israel is a nation of G-d, Created by G-d, and Ruled by the Almighty Ruler of the universe. Israel cannot hide from G-d, because G-d Rules Israel and Judges the Jewish people. The Hebrews can rebel and Jewish people can lead themselves astray, but Israel will always remain.”
Alan
You talk like an idiot, I wonder are you?
Scientists are not denying that we are in a natural cycle. It is the effect of the global heating caused by man plus that natural cycle which is being discussed.
There may be surprises associated with the melting of the North Pole which we do not yet know, considering that much science views the north pole as a giant refrigerator, and what is happening now is the door of the refrigerator is being left open.
I am no expert at all but my mind rem,ains open…
we are talking about the earth here, our only home
You are right to point that out. My thought was that if you are going to do it, do it right. As for whether to do it, I put in the caveat, “Of course, we must be sure that the devil we know is worse than the devil that may take over.”
I did not know enough about Qadddafi at the time to offer an opinion on whether he should be brought down though my instincts advised against it.
Shortly thereafter I came out against the “fiasco”.
Americans think of Gadaffi as an arch terrorist and any politition who who embrace him as you suggest would greatly hurt themselves in the polls. Instead Palin contented hereself with being critical of Obama.
Under any conditions why should a Jewish person call for the bombing of a smallish nation by the terror of NATO.
But especially why should a Jewish person call for such bombing when that small country had made an agreement that it would unite in the fight against the Muslim Brotherhood
This has got strange undertones of the time when the US was gathering support for a strike against Saddam Husseion, but Bush and the NeoCons were determined by hook or by crook to carry that out, even though the Israelis were warning, privately unfortunately, that Bush should not do so, and that it would definitely strenthen Iran and weaken Israel
It is very unfortunate that all American Jewish blogs lined up then with Bush
With totally disastrous consequences.
One of the consequences was that Sharon later withdrew every Jew from Gaza from which Israel has not recovered and Obama today is in the ascendency
Ted
I just don’t get this. the issue of the Pan Am flight is hotly contested. It is quite possible that Libya was not involved but Gadhafi was so terrified after what happened to Saddam that he accepted the blame to get an agreement. The father of a victim is sure of this.
And palin would be toast…why for taking a principled position…that mystifies me!
THIS IS THE POSITION YOU TOOK AND I QUOTE
The US administration is debating whether or not to apply a no-fly zone over Libya. It should take JINSA‘s advice issued on Feb 24
Flatten the Libyan Air Force
President Obama finally stirred himself to address the carnage in Libya, saying the “suffering and bloodshed is outrageous and it is unacceptable.” Without calling on Muammar Gaddafi to step down – as he did to Mubarak for far less – he announced no sanctions or punishment. He left it to Gaddafi. “The Libyan government has a responsibility to refrain from violence, to allow humanitarian assistance to reach those in need and to respect the rights of its people,” he said. “It must be held accountable for its failure to meet those responsibilities and face the cost of continued violations of human rights.”
That is far, far from sufficient. But the United States and its allies in Europe and the Middle East can dramatically help themselves and help the Libyan people at the same time. The operation is relatively simple, it will spare many lives and it will set the stage for stability in the future.
The idea is simple – destroy the Libyan Air Force.
Without the air force, Gaddafi loses a key tool against his people. By acting to protect the population, getting on the right side of the Libyan revolution and definitively punishing Gaddafi, the United States would demonstrate the limits of Western tolerance for reckless, maniacal, murdering dictators. [..]
If you destroy the airforce you save the time and trouble and cost of imposing a no-fly zone.
Of course, we must be sure that the devil we know is worse than the devil that may take over
https://www.israpundit.org/archives/34319
You are quoting this horrible JINSA and you are getting right behind them because you carry the heading of yourself which reads:
Felix. I never called of the US to flatten Qadaffi. I did not agree with Palin’s position early on. As the weeks went on her position changed as she dropped the neocon advisers. From a political point of view, I like her position now. If she embraced and defended Qadaffi as you suggest, she would be toast politically.. Americans hate Qadaffi because of the terror he inflicted on them.
Alan, I applaude your comment
the world is warmer now than 10,000 years ago during the ice age. Did man heat it then? there is no science that shows anything man does or did warms te globe. scientific history shows cycles of warming and cooling, regardless of the democrat party. I have lived through the “crisis” of global cooling and now through a “crisis” of global warming. time for the fools to awaken.
It is precisely the same as when Milosevic was in the Hague
My defence was unconditional.
That never implied my political programme and his were the same.
To Laura
I defend gadhafi because he is fighting against the EU, NATO, the Arab League, the Muslim Brotherhood, Cameron and Sarkozy, and against Obama
This defence of Gadhafi, which is unconditional against those enemies, does not imply that I have the same political programme as Gadhafi
Leon Trotsky defended Haile Selassie who was a despot against the Nazis but that did not imply that Trotsky agreed with the political programme of Selassie
The reason I spend time on this is because Jews will be betrayed by people like you if you cannot learn these principles of political struggle.
Generally speaking when a war is raging you cannot opt out.
But when a war is raging conducted by Obama above all else you cannot opt out
On Israpundit and on Jihadwatch and Atlas Shrugs there should have been an article every day defending Gadhafi and there has been mainly silence
Elementary childrens lesson. The money quote:
“Because trust is one thing you can’t put back together once it’s broken.”
Ted
You seem incapable of getting this point
the position of Palin in that speech was that Obama was indecisive. her position is the same as Timmerman. Obama should not have been indecisive but if he was going in he should have went in, used superior forces, AND FLATTENED GADHAFI
She says not one word about
1. US had given its word and made a deal with Gadhafi against the Muslim Brotherhood
2. Gadhafi as Yamit outlined here in detail was against the Muslim Brotherhood
3. Yamit also said that Israel was missing the boat here and should have been lining up with Gadhafi
4. Not a word from Palin about the “opposition” to Gadhafi being Muslim Brotherhood (see http://www.tenc.net)
BUT WORST OF ALL PALIN SAID NOTHING ABOUT US BREAKING OF TRUST
WITHOUT TRUST IN PERSONAL AND POLITICAL LIFE YOU HAVE NOTHING
Ted…it is rein as in horse, not reign…we Quigleys are all republicans, every atom of us…the word reign and us do not mix!
This is the problem with you and Timmerman, also reflected in Geller and Spencer. You do not understand or grasp principles in politics.
Position of Timmerman is that Obama should have went in hard and destroyed Gadhafi totally, Which was your position also in your infamous article calling for US air power to flatten Gadhafi…I will look it up later and store it as an example of the inability of bourgeois Zionism to fight in a consistent way on behalf of the historic jewish people.
This will all be laid out in the series of important historical articles which will soon be presented on my other site http://www.wedefendisrael.com
These articles will be of interest to Yamit82. Mr Yamit has been threshing about in life long enough and it is time he really learned something!
Hi, Felix!! 🙂
Felix. You’ve lost it. Rein yourself in . I have been against the Libyan fiasco from the Get go.
Palin made a major foreign policy address where she laid down her position,
Here is the video of the speech in which she laid out this doctrine and attacked Obama on Libya.
Here’s her Facebook post on Libya in which she demanded an explanation of what the US interest is in Libya. Its a fun read.
Just to note that I have consistently been saying for ages that I am not a big Palin fan, though I have a general admiration for her political abilities.
HEAD FOR THE HILLS!
I’ve always wanted beachfront property in Jerusalem.
If I was american I would vote for Palin against Obama, because Palin is NOT an antisemite, and Obama is for sure, and he has been schooled in this Chomsky Wright antisemitism over many years, as well as educated inside a Muslim antisemitic ethos. Obama oozes hatred of jews and he is out to destroy Israel even though he may not admit it to himself. This whole “Palestinian” complex is pure antisemitism.
I line up with Belman on this issue, and with you Chase and Shy etc, to defeat at all costs Obama and this circle which surrounds him.
Also in total opposition to any Palestinian Arab state.
But I do not have illusions in Palin. THAT IS A BIG DIFFERENCE. As a president she would be rooted in this historical crisis.
The real position of this American ruling class is shown in Libya. See my site. The issue is complex but must be understood and if Jews cannot fight for principle they will be defeated.
YOU MUST DEFEND GADHAFI UNCONDITIONALLY AND I MEAN UNCONDITIONALLY
And that unconditional defence does not imply political agreement with Gadhafi
Shy
The bloody thing is melting. The science false or not the thing is melting!
Chase
You
You wrote
You claim that palin can save America. That is the most utter nonsence. The crisis in Americ and of America is an historical crisis
Quiqley, when you say some “idiot” says so who do you refer to? Who wrote the article that was posted? You say support Palin over Obama re: Israel. So would you vote for her if it came down to that? Are you saying we should support Obama’s policies because of a fear of melting icecaps?
I’m not a big follower of the whole global warming controversy, but since you insist:
Former “alarmist” scientist says Anthropogenic Global Warming (AGW) based in false science
But, as the old reliable axiom goes, “people who love Trotsky know better.”
Must be going…
Enter Shy from stage left to say that North Pole melting is nothing to be worried about!!!
One thing is certain Belman.
Without learning principles in politics the Jews cannot survive.
So back to your “flattening” of Libya!!!
Belman
Libya is a matter of principle. The US and West had an agreement with Gadhafi against Islam and the fascist Lefts like Chomsky.
Who betrayed that agreement Belman and why did you call for Libya to be “flattened”???
Why has Palin never referred once to that betrayal of Gadhafi?
And now that Gadhafi is charged by the ICC what now will you say or do Belman?
Perhaps consider banning me!!!
Still I have NO idea of what Palin says re the betrayal of Gadhafi, who was a friend of the US and the West against Al Qaida.
Chase you are a dunce!
Palin can save america you think? Why, because some idiot says so?
This strong energy policy means more cars, more drilling, more carbon dioxide, more pollution, and the ice of the North Pole is fast disappearing.
Is that not short term also?
The dollar may be weak also because the US is an old capitalist company/concern.
The US cannot make goods as cheaply or as efficiently as say the Chinese..
Once Britain ruled the waves. Then US post 45 took over. Now historically that time is over too.
I say support Palin over Israel issue against Obama.
But keep your critical faculties intact!
Imagine a President that saves both America AND it’s economy and is also a friend to Israel. I don’t know why I would vote for her?