The desperate defense of american dollar by US, known as "Theory of war for oil" explains the risky politics conducted in middle east -it's an effort
to preserve US Dollar monopole over the oil market.
From many years US dollar is nothing more than a green printed paper. After leaving the gold standard, the main driving force of US economy is based
on printing and exporting US Dollar overseas in return for real, material goods.
USA in post WWII agreements guaranteed other countries which had left gold standard, that their trade will have support in dollar, which for that
times, was supported by gold[it's Breton Woods system, see it on wikipedia en.wikipedia.org...
]. But when the core of
the system -US has terminated convertibility of the dollar to gold[the "Nixon Shock"], the US politicians needed some other goods to support the
So they had made deal with Saudi Arabia, that all the oil transactions have to be conducted using US dollar[basically the beginning of OPEC].
In return US will defend Saudi dynasty from being overthrown, and US will keep an eye on upgrading Saudi army up to date. Thanks to that agreement
everyone who wants oil, must have dollars.
And that's how the business is rolling.
After the first gulf war, Saddam remained in power, because after all, he was still "our s.o.b."
As i said after all it was the US who led him to power to attack Iran, even with chemical agents, which were provided by Paul Wolfowitz...
But when Saddam announced that he will change-over his 10 billion reserve from dollar to euro, and none of the "secret persuasion" worked to stop him,
he was then attacked by US in 2003 for having "chemical agents", which we all know now, that it was a scam.
By the way, after seeing the "mobile chemical laboratories" in trucks, presented with full seriousness by Colin Powell at the UN forum[when US and
"company" were preparing to invade Iraq, and tried to persuade UN to give them acceptance for invasion, the "blue flag"] there is nothing that can
surprise me among the US government scams, and their impudence in manipulating public opinion.
In the march 2006, Iran announced that he will leave "dollar for oil" standard and will only accept oil trade in other currencies, like Euro or Yuan.
And there we have it, Iran is officially in the Axis of Evil!
If Iran transit into euro, and we have to know that iran is THIRD largest world oil exporter, then most of the US dollar won't be needed.So the US
will have a problem exporting their inflation, and creating inflation is the driving force of US economy.See how many dollars are contained in Chinese
bonds, they have 1,6 trillion bonds in US dollars. So that's why China is investing in Iran and Nigeria oil fields, they want to cut off their
dependence of US dollar by investing[or rather disposing] US dollar, and in return to buy oil for euro or yuan, because in case of dollar meltdown,
having too many of it would be disastrous.
So the conclusion is that if Iran continue their stance[selling oil for euro], the world economy will experience global meltdown, because of panic
escape from dollar exchange. Or the Iran withdraw from their current politics in return for getting all the nuclear, rocket technology that they will
All the yelling at Israel , only help to polarize the situation, and indicate what is an obstacle to achieve agreement.
edit on 19-1-2012 by piotrburz because: (no reason given)