Thread o' the Day: Project Mayhem

Zero Hedge's weekly "Project Mayhem" post and commentary wins our prestigious award.

Obama receives Nobel War Prize

Bored Predator Drone Pumps a Few Rounds Into Mountain Goat
Our great fearless leader has won the Nobel War Prize for his efforts to destabilize Pakistan. This puts him up which such luminous past figures such as Henry Kissinger, "that 70s" war criminal and author of US State Department Policy Planning Memo 200, advocating forced dopopulation of multiple third-world countries. How's that Nobel Prize treating you Dr Strangelove... I mean Kissinger... no matter! This award was clearly a mistake -- and works towards our benefit. The elites could not have done a better job jolting several million people awake, in a grand "WTF" moment. Thanks guys! Congratulation on your War Prize Mr President!

"The announcement came as a surprise. Obama's name had not been mentioned among front-runners , and the roomful of reporters in Oslo, Norway, gasped when he was named."

http://joshfulton.blogspot.com/2009/10/obama-wins-nobel-peace-prize-hell_10.html

Oh -- and this commentary was interesting:

GG, I understand that oil is priced in dollars and we have an agreement with the Saudis that we will protect them if they sell their oil in dollars, etc., but walk me through how the dollar becomes "finished" and how the dollar is backed by oil. Purchasing oil in dollars isn't the same as being backed oil-backed is it? Not disagreeing just trying to understand this better.


Basically the US "agreement" (oh come on who are we kidding here? They put a gun to their heads) with Saudis ensures that whoever needs to purchase oil from the middle east has to buy dollars first on the international market. This creates an artificial demand for a lot of dollars by all oil importing countries (China, India, etc. etc.) that would otherwise not be there. The important thing is that these countries therefore hoard dollars as "reserves" (they hoard it for other purposes/other commodities priced in USD as well but buying oil is by far the biggest factor) thus absorbing Uncle Sam's excess money printing. Hence there are a lot of of excess dollars floating around out there that would be dishoarded once USD is no longer needed to buy oil (plus when one of the big players starts getting rid of its dollars, others automatically HAVE TO follow as the first one out the door gets the best value. They will be pushing and fighting to be the first one out the door). The dollars would be sold off on the currency markets causing an extreme glut of dollars and skyrocketing the price of everything in terms of dollars - immediate and severe depreciation of the currency or hyperinflation. Now you know why Team Obama is sh***ing their pants right now.

I blame the Militant Quakers.

Oh. And Bush.