Giggles in the Sharq

Sometimes I decide that I need to read what the "other side" is actually saying about the United States, U.K and allies in the local propaganda machine that is Al Jazeera.... The crap they are putting out about the Iranian move to shift currency assets out of European banks is just precious. Like:

"In response to the mounting threats to refer its nuclear dossier to the United Nations Security Council to force it suspend its NUCLEAR PROGRAME, safeguarded and certified by the IAEA to be for peaceful purposes, Iran announced it’s moving all its foreign exchange reserves out of Europe to shield itself from the threat of sanctions likely to be imposed by the UNSC."

Yeah, "safeguarded" by the IAEA ... then in the very next paragraph, the following:

"The Islamic Republic, according to Iran's central bank governor, begun withdrawing assets from European banks, as the Europeans are just about to get the UN atomic watchdog, the International Atomic Energy Agency Board of Governors to refer the Iranian NUCLEAR PROGRAME to the UN Security Council by March. But they were reluctant as the Security Council will likely throw the IAEA Board referral, if obtained, directly into the waste bin as being frivolous, an editorial on AntiWar.com said."

OK, let's parse that: Iran's nuclear program, safeguarded and certified as peaceful by the IAEA is about to get referred to the UN by the "watchdog, the International Atomic Energy Agency Board of Governors." What, the good IAEA in the first paragraph is different from the IAEA in the second (uh, does the difference in using an acronym and the full name change the constitution and orientation of the agency)? And the referral is frivolous, but the certification (if any exists) is to be believed?

And people read, listen to and believe this bullshit? No wonder we eat our babies, bathe in the blood of vrigins, and worship Satan in the West. Holy crap!!

Al Jazeera proceeds with the following stunning logic:

It seems that the AMERICAN PRESIDENT had sent the Europeans on a Fools Errand. [Why?]Has BUSH forgotten about the Iranian Bourse? Have the Europeans forgot about the Iranian oil that will be delivered to Western Europe via pipeline?

And, according to Iranian officials, the Iranian Bourse will be a state-owned international oil, gas and refined products exchange, operating principally over the Internet, with transactions denominated principally in Euros.

The Iranian Bourse is expected to be in direct competition with London’s International Petroleum Exchange and New York’s Mercantile Exchange, both owned by U.S. corporations, the article said.

"The Tehran government has a developed a plan to begin competing with New York's NYMEX and London's IPE with respect to international oil trades - using a euro-denominated international oil-trading mechanism, which means that the euro is going to establish a firm foothold in the international oil trade. Baring in mind the U.S. debt levels and BUSH ’s admin’s goal of global domination, Tehran's future plans pose an obvious encroachment on U.S. dollar supremacy in the international oil market."

Yep! An internet based oil and energy market run by the Iranians is going to put the Nymex and IPE out of business, and because it will use the Euro, the dollar is doomed!! But wait, wasn't Iran pulling their reserves out of European banks etc.? How are they going to hold those assets -- Euros in Tokyo or Beijing? Or sell Euros and hold ... what, Yen, Yuan, Kuwaiti Dinars (or other Sunni Arab currencies)? Uh, maybe dollars? And you, as a western oil trader (we use the most oil, so we naturally have to trade it to get it), are you going to trade in a virtual world run by Iranians who believe in the type of logic described above, as well as basically in the fundamental evil you represent and the ultimate solution for the eradication of that evil?

My head is starting to spin.