In a jawdropping article released this morning by John Perkins, he lays out very compelling evidence  and arguments that there was an issue even bigger than oil behind NATO/US intervention in Libya—plans to form a gold backed currency of their own which would bring the whole world banking system to its knees. http://www.johnperkins.org/?p=1051.

The currency at issue is the gold dinar. The Guardian has debunked the idea that the  Gold Dinar is a threat to capitalism beacuse it doesn’t believe in the viability of a currency system based on gold coin, for practicality and for creating a sufficient supply of gold for such a currency.  Whether Qadhaffi planned to actally use the gold dinar in coin or as a paper currency as the $us once was is not yet clear to me but he  was organizing and advocating  a union of African Nations with the Gold Dinar as it’s standard and advocating among other middle eastern oil producing nations adoption of the  gold dinar and the settlement of of all oil exports in gold dinar instead of $US. There has been a growing movement for many years for all Muslim countries to unite in currency via the gold dinar.  I dont know enough about currency to assess whether the assurance given us by the Guradian is real comfort but any switch in the currency standard from $Us would be devastating to the U.S. economy. That is certain.

 Although not developed in his article, I believe such a move would also eliminate all possibility of the US/EU and other non-opec nations having any ability to control the price of oil in their own countries..It would be beyond even the possibility of  a buyers cartel as I have advocated here in another essay. And obviously it would threaten a complete shift in the balance of power globally from EU/US domination to domination by OPEC .  In effect the end of the present era.

Perkins claims that Sadaam Hussein had announced and was pursuing a similar currency plan in the immediate lead up to invasion of Iraq. In other sources I have seen more detail on his isnitaitves at the time of the invasion.  He was apparently organizing an oil sellers exchange in which all sales would be gold dinar. The same kinds of initiatives have been on the burner for several years in Iran according to another reputable blogger/author writing in October 2006.  That author, William Clark predicts that could also make Iran a  target for intervention.   At the time this article was written Iran, along with many other oil producing nations were consifdering shifting to a Euro base for oil exchanges since, at the time, the US dollar was considered over valued by virtue of being the currency of trade for oil.  Even that change from $us to $EU would have a devastating effcet on the US dollar in world markets and a devastating effect on the entire U.S. economy. http://www.projectcensored.org/top-stories/articles/9-irans-new-oil-trade-system-challenges-us-currency/.

I cannot say it better than Perkins so I’ll just quote from the article.

 “ So, we might ask ourselves: What happens when a “rogue” country threatens to bring the banking system that benefits the corporatocracy to its knees? What happens to an “empire” when it can no longer effectively be overtly imperialistic?

Understanding the war against Quaddafi as a war in defense of empire is another step in the direction of helping us ask ourselves whether we want to continue along this path of empire-building. Or do we instead want to honor the democratic principles we are taught to believe are the foundations of our country? 

History teaches that empires do not endure; they collapse or are overthrown. Wars ensue and another empire fills the vacuum. The past sends a compelling message. We must change. We cannot afford to watch history repeat itself.”

And I might add, or is it too late?  Is it inevitable that the OPEC nations will form their own currency and price oil in that currency.  Is there really anything we can do to stop that or did we stay too long at “Colonialism Fair”

I am going to plant my sunflowers.  This is too much for me. They will grow and I will harvest them whatever happens..but I have to get my heart and head around this one.

Cove Meadow May 1,2011



About lindsaynewlandbowker

Bowker Associates, Science & Research In The Public Interest, is an independent non profit providing self initiated pro bono analysis on key issues with a potential for massive adverse environmental impact . Bowker Associates has been an internationally recognized and cited voice in analysis of the Samarco failure, its consequence, and the possibilties for recovery. In 2017 we partnered with Daveid M. Chambers, a world leader in responsible mining, in our third joint work on the economics of tailings failures. Bowker, L.N.; Chambers, D.M. In the Dark Shadow of the Supercycle Tailings Failure Risk & Public Liability Reach All Time Highs. Environments 2017, 4, 75. http://www.mdpi.com/2076-3298/4/4/75 A peer reviewed journal published investigation of the cowboy economics of the supercycle and the resulting escalation on the number and magnitude of catastrophic failures. In 2016 we parnered with Dave Chambers in our 2nd joint work together looking at root causes of failures at a conference . Bowker, L.N.; Chambers, D.M. Root Causes of Tailings Management Failures: The Severity of Consequence of Failures Attributed to Overtopping 1915–2015. In Proceedings of the Protections 2016, Fort Collins, CO, USA, 14 June 2016. [Google Scholar] In 2015 Bowker Associates collaborated with geophysicist David M. Chambers to recompile global authoritative accounts of significant TSF failures in recorded history and to analyze these data in the context of global mining economics 1910-2010 ( Risk, Economics and Public Liability of TSF Failures, Bowker/Chambers July 2015) The third annual update of this globally referenced and used compilation was just released at Researchgate. (https://www.researchgate.net/publication/324594429_World_Tailings_Dam_Failures_From_1915_-_as_of_Mar_31_2018) In 2014 Bowker Associates commissioned globally respected geophysicist and hydrogeologist Dr. David Chambers to undertake two technical works: (1) development of technical go no go criteria for vetting mine applications tp://lindsaynewlandbowker.wordpress.com/2014/01/05/a-new-statutory-regulatory-framework-for-responble-sulfide-mining-should-this-mine-be-built/ and (2) a case study of Maine's Bald Mountain, an un mined low grade high risk VMS deposit demonstrating the efficacy and accuracy of two risk assessment tools in vetting mine proposals https://lindsaynewlandbowker.wordpress.com/2014/02/28/mountain-x-would-you-issue-a-permit-to-this-mine/ In Maine, Bowker Associates has deeply engaged and been a public voice in the Searsport DCP LPG Tank, The Cianbro proposal for a Private East West Toll Road, JD Irvings rolling pipeline of Bakken crude to its plant in St. John and review of Phase II plans at The Callahan Superfund site in Brooksville, Maine, and Maine's revisitation of mining in statute and regulation... Our only “client”: is always “the pubic interest”. Our model is to focus on only one or two issues at a time so that we have a substantive command of the relevant field as our foundation for ongoing engagement. Our core work is in envirommental risk management, science and technology as well as bringing any available “best practices” models to the fore. The legal and regulatory history/best models are also a major thrust of our work in building and evaluating public policy. Director/Principal Lindsay Newland Bowker, CPCU, ARM is a recognized expert in Environmental Risk Management., Heavy Construction Risk Management and Marine and Transit Risks and has more than 3 decades of engagement in buiding public policy. Appointed by Governor Mario Cuomo to New York State Banking Board (served 1986-1996); President New York Chapter Chartered Property and Casualty Insurers; Environmental Committee, Risk and Insurance Management Society; Director, Convenor/Co-Chair Bermuda Market Briefing "From Captive to Cats" Hamilton Bermuda. Published Articles of Significance The Risk Economics and Public Liability of Tailings Facility Failures, co-authored with David M. Chambers, July 2015 Beyond. Polarization: Superfund Reform in Perspective, Risk & Insurance Managing Risk For Loss Prevention & Cost Control (Jan. 24, 1997). Lead Hazards and Abatement Technologies in Construction: A Risk Management Approach CPCU Journal 1997 Employee Leasing: Liability in Limbo Risk Management June 1 1997 Environmental Audit Privilege and the Public interest Risk & Insurance Managing Risk For Loss Prevention & Cost Control, April 1997 Asbestos:Holes In Abatement Policies Need To Be Plugged, Lloyd’s Environmental Risk International, May 1993 Editor Published Letters Evironmental Risk Management Beware of Facile Policies Like Fetal Protection Business Insurance 1995(?) High Court Review May Increase Sale of Bank Annuities Business Insurances August 8, 1995 Professional Profiles Protecting the Big Apple’s Core Managing Risk For Loss Prevention & Control December 1996 Major Career Highlights First rigorous analysis showing Relationship Between declining ore grades and TSF Failures of increasing consequence ( July 2015) FIrst Documentation that Gentrification Has Same Impacts as Unassisted Displacement from Urban Renewal Sites Direted Court Ordered EIS of FHA Mortgage Scandal Created Nation's First Homeownership Program for Low Income People (SHIP) Created Earliest Geographic Information Systems Using Defense Technology Developed By IBM Designed and Conducted Parallel Census Count to Show Systematic undercount in minority neighborhoods Documented Bias in ISO Territory Rating Plans for Private Passenger Auto Insurance Using ISO's own Rating Techniques Demonstrated Inherent Bias in Mortgage Policies of Banks With Inner City Branches Demonstrated that NY Telephones Plan for Area Code Split To accommodate anticipated cell phone demand was not efficient and would exhaust in 5 years ( which it did) Undertook First Systematic Evaluation of Child Protective Services Caseload Using Multi Variate Analyic Techniques Developed Child Protective Caseload Management and Tracking System (CANTS) and directed implementation in 4 client states including Illinois, Florida and New York Created and Ran Office of Risk Management for NYC DEP the Nations largest Water & Sewer Authority . Designed, Created and Administered Nation's First Owner Controlled Insurance Program (OCIP)for High Risk Tunneling Education Masters NYU Graduate School of Public Administration BSC New School For Social Research Maine Public Schools Deering High School
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  1. Lindsay Newland Bowker says:

    paul,Thanks for your thoughts.I We don’t have nearly enough gold to back the dolars in cicrulation. Isn’t that why we abnodoned it? Same with UK and european nations, isn’t that correct?I still believe that the arab & african nations will create a gold backed currency in which oil will be priced and recall seeing somehwere that both libya and saudi arabia and iraq before our invasion had impressive gold resrves.A shift in US and EU global dominance is inevitable and perhaps nearer than we dare imagine. Not an opnion based on any expertise in monetary policy but on analysis and trends.

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