Greene Concepts Inc (INKW)

[roguewave]

The Iranian situation is romper room stuff and classic misdirection. These are the guys you don't really want to piss off because it will make for interesting times here in the states in the not to distant future.

I know this might be over the head of most penny flippers but I will tell you this one time, you had better start figuring it out because a new paradigm is being ushered in.

http://www.financialsense.com/editorials/engdahl/2006/0508.html

Part II: Disintegration of US Eurasia Strategic Influence

A Foreign Policy disaster over China

In this context, the recent diplomatic insult from Bush to visiting China President Hu Jintao, is doubly disastrous for the US foreign position. Bush acted on a script written by the anti-China neo-conservatives, to deliberately insult and humiliate Hu at the White House. First was the incident of allowing a Taiwanese ‘journalist,’ a Falun Gong member, into the carefully-screened White House press conference, to rant in a tirade against Chinese human rights for more than three minutes, with no attempt at removal, at a White House filmed press conference. Then came the playing of the Chinese National Hymn for Hu. The ‘Chinese’ hymn, however, was the (Taiwan) Republic of China hymn, not the (Beijing) Peoples’ Republic hymn.

It was no ‘slip-up by the professional White House protocol people. It was a deliberate effort to humiliate the Chinese leader. The problem is that the US economy has become dependent on Chinese trade imports and on Chinese holdings of US Treasury securities. China today is the largest holder of dollar reserves in form of US Treasury paper with an estimated $825 billion. Were Beijing to decide to exit the US bond market, even in part, it would cause a dollar free-fall and collapse of the $7 trillion US real estate market, a wave of US bank failures and huge unemployment. It’s a real option even if unlikely at the moment.

China’s Hu didn’s waste time or tears over the Bush affront. He immediately went on to Saudi Arabia for a 3 day state visit where both signed trade, defense and security agreements. Needless to say, this is no small slap in the fact to Washington by the traditionally ‘loyal’ Saudi Royal House.

Hu signed a deal for SABIC of Saudi Arabia to build a $5.2 billion oil refinery and petrochemical project in northeast China. At the beginning of this year, King Abdullah was in Beijing for a full state visit. Hmmmmm…Since the Roosevelt-King Ibn Saud deal giving US Aramco and not the British exclusive concession to develop Saudi oil in 1943, Saudi Arabia has been regarded in Washington as a core strategic sphere of interest.

Hu then went on to Morocco, another traditional US sphere of interest, Nigeria and Kenya, all regarded as US spheres of interest. Hmmmm. Only two months ago Rumsfeld was in Morocco to offer US arms. Hu is offering to finance energy exploration there.