Secret UAE Port Deal
I first heard about this issue two days ago while driving home from work and listening to Michael Savage. It seems absolutely unthinkable to me that the US would allow the United Arab Emirates to oversee management and security of six strategic US shipping ports (Baltimore, Miami, New Jersey, New Orleans, New York, and Philadelphia.).
Apparently, the $6.8 Billion agreement was made under the veil of numerous classified discussions, and our Homeland Security Secretary (Michael Chertoff) is actually defending the deal: "Without getting into classified information, what we typically do if there are concerns, is we build in certain conditions or requirements that the company has to agree to make sure we address the national security concerns," said Michael Chertoff. "And here, the Coast Guard and Customs and Border Protection really played a leading role for our department in terms of designing those conditions and making sure that they are obeyed."
Sen. Charles Schumer is one of the few who has denounced the deal, saying the UAE has "a sad history with terrorism." "Outsourcing the operations of our largest ports to a country with long involvement in terrorism is a homeland security accident waiting to happen," he said.
How can US government officials even think about allowing this agreement (the outsourcing of America at its finest) to happen?
Answer: I personally believe it has everything to do with Oil and the US Dollar. (Note: I’m not the sharpest knife in the drawer and this is just pure speculation).
In 1943 President Franklin D. Roosevelt developed a relationship with Saudi Arabia and made it official by shaking hands with King Sa'ud Bin-Abd-al-Aziz Al Sa'ud aboard the U.S.S. Quincy in the Suez Canal. Since that time, the US has been militarily involved in the Middle East, as the defense of the region is key to U.S. interests.
In 1973 a new term was coined (the Petrodollar) to describe the situation that was occurring in OPEC countries. Any country that needed oil first had to convert their currency to Dollars to buy the product. The Dollars accumulated by OPEC through the sale of their oil then allowed them to invest in the economies of the nations which purchased their oil.
Bottom line: worldwide oil sales are now denominated in U.S. dollars and these dollar holdings are rapidly increasing.
Skip to today: The world currently has > 10 Trillion dollars circling the globe (thanks to the Fed’s money machine), the number of petrodollars is also at an all-time high and oil producing countries (with huge bankrolls of cash) now need to a place to spend them.
The US government knows it is in a pickle. Far too many dollars are in the hands of foreign entities and the US dollar, as the world’s reserve, could be at stake if the US doesn’t allow them to spend some of these accumulated holdings. In an agreement to continue the US Petrodollar Ponzi scheme, our elected government officials have probably performed a quid-pro-quo with Dubai.
What are your thoughts on the situation?