Moral Outrage
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Demise of Dominique Strauss-Kahn or the US Dollar

The media is trying to dig up as much dirt as they can on Dominique Strauss-Kahn so they can hang the man before he ever sees the inside of a courthouse. Aren’t you at all curious about who’s behind this “lynching by media” scam?

It’s about the dollar. Strauss-Kahn was mounting an attack against the dollar and now the wrath of the Empire has descended on him like ton-of-bricks. Here’s the scoop from the UK Telegraph:

“Dominique Strauss-Kahn, managing director of the International Monetary Fund, has called for a new world currency that would challenge the dominance of the dollar and protect against future financial instability…..

“He suggested adding emerging market countries’ currencies, such as the yuan, to a basket of currencies that the IMF administers could add stability to the global system….Strauss-Kahn saw a greater role for the IMF’s Special Drawing Rights, (SDRs) which is currently composed of the dollar, sterling, euro and yen, over time but said it will take a great deal of international cooperation to make that work.” (“International Monetary Fund director Dominique Strauss-Kahn calls for new world currency”, UK Telegraph)

So, Strauss-Kahn finds himself in the same crowd as Saddam Hussein and Libyan leader Muammar Gaddafi. You may recall that Saddam switched from dollars to euros about a year before the war. 12 months later Iraq was invaded, Saddam was hanged, and the dollar was restored to power. Gaddafi made a similar mistake when “he initiated a movement to refuse the dollar and the euro, and called on Arab and African nations to use a new currency instead, the gold dinar.” (“Libya: All About Oil, or All About Central Banking?” Ellen Brown, Op-Ed News) Libya has since come under attack by US and NATO forces.

And now it’s Strauss-Kahn’s turn to get torn to shreds. And for good reason. After all, DSK actually poses a much greater threat to the dollar than either Saddam or Gaddafi because he’s in the perfect position to shape policy and to persuade foreign heads of state that replacing the dollar is in their best interests.

Here’s a clip from CNN Money: “The International Monetary Fund issued a report Thursday on a possible replacement for the dollar as the world’s reserve currency. … In addition to serving as a reserve currency, the IMF also proposed creating SDR-denominated bonds, which could reduce central banks’ dependence on U.S. Treasuries. The Fund also suggested that certain assets, such as oil and gold, which are traded in U.S. dollars, could be priced using SDRs.” (“IMF discusses dollar alternative”, CNN Money)

[Excerpt of an article by Mike Whitney]

4 Responses to “Demise of Dominique Strauss-Kahn or the US Dollar”

  1. sadly I think you might well be on to something here….I still think Mr Strauss-Kahn’s predatory behaviour toward women is not appropriate and that he did something in that NY hotel room that helped bring that ton of bricks down on his head. But I also believe that in the months to follow, what happens to him is more about his political positions than about rape… and that makes the justice system look… well…just as bad.

    • Concerning the reported bedroom antics of Strauss-Kahn, you might want to check out another post:

      In particular, Strauss-Kahn is portrayed as so deprived of sex that he attempted to rape a hotel maid. If indeed looking for a fling, could a multi-millionaire not afford to make other more discreet arrangements?

      Also, prior to Strauss-Kahn’s fateful departure for New York, the French newspaper, Liberation, published comments he made while discussing his plans to challenge Nicolas Sarkozy for the presidency of France with Strauss-Kahn the clear favorite to beat Sarkozy. , Strauss-Kahn predicted he would be subjected to a smear campaign by Sarkozy and his interior minister, Glaude Gueant. Strauss-Kahn even predicted that a woman would be offered between 500,000 and 1,000,000 euros (more than $1,000,000) to make up a story that he raped her.

  2. As for his innocence or guilt on the sexual charges, time will tell. Curiously, one of his defenders is his wife.

    The New York Times reports that his wife “was in Paris awaiting the birth of her first grandchild when, according to Paris Match, she got a call from her husband about 11 p.m., or 5 p.m. in New York, just after the police pulled him off an Air France plane about to leave the gate.

    “On Sunday she issued a statement unreservedly backing her husband and saying that she did not believe the charges against him, and then flew to Manhattan, where she has undertaken to pay Mr. Strauss-Kahn’s $1 million bail and the other costs associated with it — including an apartment, an electronic bracelet and armed guards provided by a company authorized by the court.

    “I don’t believe for a single second the accusations of sexual assault by my husband,” she said. “I am certain his innocence will be proven.”

  3. French Finance Minster Christine Lagarde has emerged as the front-runner in the race to replace ex-IMF chief Dominique Strauss-Kahn.

    She’s a friend of Wall Street who will ferociously defend the interests of big capital.

    The Guardian summed up Lagarde’s impressive resume: “Christine Lagarde stands for protecting big banks…..she’s the most pro-bank bailout of the lot.

    “The Americans are going to try and put in [White House adviser] David Lipton as number two. Lipton is Mr Bank Bailout. He worked for Citigroup. If they put in Lagarde and Lipton, what does that say?”

    According to the New York Times, “Ms. Lagarde, the former head of the Chicago-based law firm Baker & McKenzie, lived in the United States for 25 years. … she is as connected and as respected in Washington and on Wall Street as in Europe.”

    There will be no more talk about replacing the dollar with SDRs (Special Drawing Rights) either.

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