I just got back to Sydney over the weekend from yet another trip to the US.... 4th since the beginning of January.

When I picked up the Sydney Morning Herald on Saturday I was struck yet again at the difference between newspapers in Australia and newspapers in the US (or some of them at least). Electronic media is the same.

In the US you see lots of local news on TV and in the press. And when you read important stories (if you can find them) they are buried in the middle of the paper. In Australia you see lots of local news but on the front page you find stories of global importance too. Australian TV news is seriously global and strategic in its coverage, particularly SBS.

And one of the key stories of the day is the one about Scooter Libby and the revelations that the 'leak' about Plame and uranium from Niger was approved by Bush himself.

Lots of ink now being used on both sides of the pond. But let's look underneath the front story for a moment and imagine what is happening here....

The public story is as noted above: Libby is on the rack with a potential jail sentence that could see him breaking rocks for the rest of his life.

What is the real story? Well we know that Libby has been one of Cheney's most loyal lieutenants for all of his adult life. Why would anything change now? Isnt Libby really protecting Cheney here?

What is happening behind the scenes? There must be huge pressure on Bush to dump Cheney and make him the scapegoat for the war (and read this interview from Der Spiegel with Nobel laureate Joseph Stiglitz to understand the impact this is having on the US economy). And Cheney of course also has profited enormously from his options in Halliburton.

I can imagine that Cheney and Bush may have even had a tete a tete in which Bush told him that he would have to resign.

Continuing this imaginary scenario, I can imagine that Cheney would not take this kind of threat lying down, and would ensure that the whole thing blows back and hits Bush - either with the intent of an implicity threat to not mess with him or with the intent to see Bush impeached allowing Cheney to become President.

Now this may all be a fantasy, but we live in a time where great nations go to war based on totally false information. And where Generals resign rather than go to war for no moral reason. So why not?