You’ll have to understand that Syria has been in U.S sights long before this “humanitarian cause/save the people” campaign started up last year.
According to retired NATO Secretary General Wesley Clark, a memo from the Office of the US Secretary of Defense just a few weeks after 9/11 revealed plans to “attack and destroy the governments in 7 countries in five years”, starting with Iraq and moving on to “Syria, Lebanon, Libya, Somalia, Sudan and Iran.” In a subsequent interview, Clark argues that this strategy is fundamentally about control of the region’s vast oil and gas resources.
Syria holds Russia’s only port to the Mediterranean Sea. That’s right – Russia ( the largest supplier of natural gas to all of Europe ) can’t operate its navy or its oil export operations without that port.
Can you imagine the blow to Russia if the U.S where to occupy Syria? Never gonna happen. Never.
As suggested “well before” Obama put his tail between his legs, and paddled back to the states the “last time” Putin ( and his Chinese counterparts ) would not allow U.S intervention in Syria. Not a chance.
Syria has also been in talks with Iran about building a pipeline to allow for Iranian oil reserves to be shipped through, as well Saudi’s Prince Bandar bin Sultan has stated ” whatever regime comes after” Assad, it will be “completely” in Saudi Arabia’s hands and will “not sign any agreement allowing any Gulf country to transport its gas across Syria to Europe and compete with Russian gas exports” so…….if you’re starting to put the pieces together here – Syria is an extremely significant and important country with respect to its geopolitical and geo “pipelineal” relations.
There is no question that Assad is a war criminal whose government deserves to be overthrown. The real question is by whom, and for what interests?
I’m some 300 pips in the green on several short AUD trades tweeted / posted yesterday with plans to see if I can’t “hold on to these babies” a little longer. Wild swings in currencies overnight with USD taking a dip, but really just to trendline support. I’ll be watching close today for intra day reversal and opportunity to keep pushing long USD / short risk.
Perhaps you hadn’t noticed by way of the SP 500 making a 16 day run flat as a pancake – but “risk” is clearly selling off in the currency markets. I’d suggest keeping a watchful eye.
Kong what about GBP ? thought it ll make a move lower after yesterday’s big move up , but its still going up , any comments ?
Things go up …..then they go across……then they come down etc…..
The move just seemed pretty large / unfounded so…..I’ll watch to see at least the smaller times show further weakness before entering.
Then you get USD selling off a bit overnight, and a cross wind / combination.
You didn’t kill it on short AUD???? Man!
The move up in GBP relates to the Bank of England suggesting that they would move interest rates when employment fell to 7%. The news indicated that employment was 7.1%. Speculation that this was going to be the start of the rate raises in GBP.
Great add – thank you.
More hype / speculation about rates being raised yes and as well – I’ve been eyeing GBP from a larger / longer term fundamental perspective and have a sneaking suspicion it’s also taking a bit of safe haven flow.
Dear Kong
It saddens me so much to think the leaders are so inhumane.
Thanks for an insightful blog.
Yes it’s tough.
Tis a crazy world we live in that’s for sure.
Hi Kong,
I know that this is supposed to be an FX blog and not a political one, but it’s good you take the stand to share your thoughts. I’d say that you are ‘half-informed’ on the matter especially on the former part of your post on the Secretary General’s remarks. Geneva 2 was going through last week and I’d highly recommend you to read Syria’s foreign minister’s speech here.http://www.globalresearch.ca/geneva-ii-syrian-foreign-minister-the-west-publicly-claims-to-be-fighting-terrorism-whilst-it-is-covertly-nourishing-it/5365833
I’ve lived in Syria for 4.5 years and it’s sad that the propaganda campaign takes no mercy at selling lies as truth. The so-called ‘Free Syrian Army’ are islamist extremists linked to Al-Qaeda as well, disrupting a 100+ year co-existential harmony of peace with the Christians and Muslims. Assad and the Syrian Army are protecting their national sovereignty against a 83+ national extremist invasion of the country and people. I mean who wants crazy fanatics running around causing sectarian violence? This is not a revolution. This is a proxy-war.
If you happen to have the time as well, I reccomend this Syrian documentary ‘Manufacturing Dissent: Truth About Syria’ to gain a new perspective on the issue.
https://www.youtube.com/watch?v=tuj0ZCY6Zq8
Thanks for your continuous great work on your blog!
Regards,
Buena