newjerseynewsroom.com

BY JIM KOURI

In a disturbing breaking news story, Arab states initiated a covert operation with China, Russia and France to stop using the US currency for oil trading and topple the US economy, according to British journalist Robert Fisk.

In a shocking news report, Fisk revealed that oil-producing Arab States "are planning — along with China, Russia, Japan and France — to end US dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar."

Allegedly, secret meetings were held by finance ministers and central bank officials in China, Brazil, Japan and Russia, to brainstorm on a strategy to replace the US dollar with other currency in international oil transactions, according to Fisk's report.

The plans, confirmed to Britain's The Independent newspaper by both Gulf Arab and Chinese banking sources in Hong Kong, may help to explain the sudden rise in gold prices, "but it also augurs an extraordinary transition from dollar markets within nine years."

The Examiner confirmed that US economists and government officials are aware the meetings described by Fisk, but are hesitant to make public statements for fear of causing panic on Wall Street and within the financial community.

According to Fox Business News, the US is certaining going to combat what Fisk calls an "international cabal" which will include "loyal allies Japan and the Gulf Arabs."

Fisk quotes Sun Bigan, China's former special envoy to the Middle East, as saying "he has warned there is a risk of deepening divisions between China and the US over influence and oil in the Middle East."

"Bilateral quarrels and clashes are unavoidable," he told the Asia and Africa Review. "We cannot lower vigilance against hostility in the Middle East over energy interests and security."

In the global marketplace, China has been the US's biggest competitor in crude oil purchases from the Middle East. Surprisingly, Venezuela's President Hugo Chavez is not being mentioned as a participator in this economic plot against the United States.

Fisk believes this report of replacing the US dollar with currency from other nations "sounds like a dangerous prediction of a future economic war between the US and China over Middle East oil." Experts believe this is but one phase of a larger effort by China to gain "great power supremacy."

China uses more oil than the US. It also is not hampered by 'energy consumption" or "energy efficient" regulations that are commonplace in the United States. The transitional currency in the move away from dollars, according to Chinese banking sources, may well be gold.

"An indication of the huge amounts involved can be gained from the wealth of Abu Dhabi, Saudi Arabia, Kuwait and Qatar who together hold an estimated $2.1 trillion in dollar reserves," writes Fisk.

Jim Kouri, CPP is currently fifth vice-president of the National Association of Chiefs of Police and he's a staff writer for the New Media Alliance (thenma.org). In addition, he served as director of public safety at a New Jersey university and director of security for several major organizations.