posted on Aug, 17 2011 @ 03:43 AM
Originally posted by OMsk3ptic
reply to post by murch
LOL yeah, because we're getting sooo much oil from Iraq, right? We get almost nothing from Iraq, we get more from Algeria, and 3 times more from
Nigeria. The little oil we get from Iraq doesn't come close to making up for the cost of being over there.
You don't have to get oil from Iraq. Regardless of who buys Iraqi oil, after the 2003 invasion they have to pay US$ for it (for a couple of years
prior to that they had to pay Euros). In order to pay US$ they have to earn US$. This they can do either by exporting something to the US or by
allowing US investors to buy properties in their country for US$. Either way US persons benefit. It is the demand for US$ that was to be maintained by
Anyway, with the Euro losing its shine, there isn't a challenger for the US$ on the horizon.
Of course that could change quickly if the major exporters of the world (of all types of commodities) get together to forge an international trading
currency to replace the US$. US can prevent such a thing from happening only by projecting its military might in defence of the US$ as an
international trading/reserve currency.
edit on 17-8-2011 by Observor because: (no reason given)