Israeli sinks to even greater depths of depravity. Israeli drones lure Palestinians with crying chil... 21:39 Apr 18 0 comments Israel Continues to Shoot Itself in the Foot 20:25 Dec 16 0 comments Is the Gaza-Israel Fighting “A False Flag”? They Let it Happen? Their Objective Is “to Wipe Gaza Off... 00:48 Oct 21 1 comments Israel Confesses War Crime 23:49 Oct 10 0 comments Ukraine and West prepare media space for their potential false flag attack on Zaporozhye NPP 23:34 Jun 26 1 comments more >>Blog Feeds
The SakerA bird's eye view of the vineyard
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Human Rights in IrelandPromoting Human Rights in Ireland
Lockdown Skeptics
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Saddam and the Euro
louth |
anti-war / imperialism |
other press
Wednesday December 08, 2004 22:41 by Brian Vernon
The Real Reasons for the Upcoming War With Iraq: ... But first back to Iraq. "Saddam sealed his fate when he decided to switch to the euro in late 2000 (and later converted his $10 billion reserve fund at the UN ... Although completely suppressed by the U.S. media and government, the answer to the Iraq enigma is simple yet shocking -- it is an oil currency war. The real reason for this upcoming war is this administration's goal of preventing further Organization of the Petroleum Exporting Countries (OPEC) momentum towards the euro as an oil transaction currency standard. However, in order to pre-empt OPEC, they need to gain geo-strategic control of Iraq along with its 2nd largest proven oil reserves. This essay will discuss the macroeconomics of the 'petro-dollar' and the unpublicized but real threat to U.S. economic hegemony from the euro as an alternative oil transaction currency. The author advocates reform of the global monetary system including a dollar/euro currency 'trading band' with reserve status parity, and a dual OPEC oil transaction standard. These reforms could potentially reduce future oil currency warfare. |