Some time ago, just a few days after the U.S. invaded Iraq, I posted my take on why the U.S. had invaded Iraq. One of the reasons that I gave was that the U.S. wished to undermine the euro in order that the price of oil would continue to be based on the dollar. The value accorded the U.S. dollar on the international market depends on this oil/dollar linkage. Should this link be broken the value of the U.S. dollar would plummet. My original contention seems to me valid and may in fact be one of the reasons that underlie current U.S. intransigence toward Iran and, to a lesser degree, Venezuela. These web sites have to do with war, oil and the dollar:

http://www.thirdworldtraveler.com/Iraq/Iraq_dollar_vs_euro.html: The Invasion of Iraq: Dollar vs Euro Re-denominating Iraqi oil in U. S. dollars, instead of the euro by Sohan Sharma, Sue Tracy, & Surinder Kumar Z magazine, February 2004

http://inflationdata.com/articles/category/printing-money-2/: What are “Foreign Exchange Reserves”? Published December 28, 2012 | By JRO Will the U.S. Dollar Be Replaced as the World’s Reserve Currency?

http://www.forbes.com/sites/bobmcteer/2012/08/12/when-money-dies/: Washington 8/12/2012 @ 7:26PM |1,119 views When Money Dies

Amazon's and its customer's reviews of the book "When Money Dies" may be helpful:

http://www.amazon.com/When-Money-Dies-Devaluation-Hyperinflation/dp/1586489941

One reviewer says: "Read this book: it is still found in libraries. You will be witness to ink on paper that actually has and holds its value."

This site may allow you to download “When Money Dies” free of charge: http://www.ebook3000.com/Adam-Fergusson---When-money-dies--The-nightmare-of-the-Weimar-collapse_110324.html

http://www.projectcensored.org/top-stories/articles/9-irans-new-oil-trade-system-challenges-us-currency/: 9. Iran’s New Oil Trade System Challenges U.S. Currency Top 25 of 2006 Apr 29, 2010 Source: GlobalResearch.ca, October 27, Title: “Iran Next U.S. Target,” Author: William Clark

Comments

leighmf's picture
leighmf 6 years 40 weeks ago
#1

How does this affect the price of eggs? Gulf States have to import their food for oil receipts.

11/11/2009 Business.com - Reuters, 11 November 2009 by Amena Bakr "Gulf countries, mainly reliant on food imports, have increased efforts over the last year to buy or lease land in developing nations to secure food supplies....."

No foreign ownership of land is allowed in Iraq but they are granting long-term land leases to UAE while the US and Germany have also expressed interest in agricultural leases in Iraq.

Iraq pays for all its food in oil receipts. In order for agriculture to become successful of course it will take a multi-billion dollar effort to improve land, which Iraq is inviting lessors to pay.

I don't understand why they can't put their own agricultural team together with oil receipts and develop their own ag lands. Why do they require outside lessors?

Alberto Ceras 2's picture
Alberto Ceras 2 6 years 39 weeks ago
#2

I mentioned U.S. intransigence (belligerence) towards iran and Venezuela. Just today I received this from Truthout and Greg Palast concerning Chavez and Venezuela and attempts to assasinate him. It fits right in with my blog. Anyone interested can click on this URL for the Palast essay and also for a chance to download the video:

http://truth-out.org/opinion/item/13800-big-oil-big-ketchup-and-the-assassination-of-hugo-chavez

Today, Jan. 18th, Democracy Now interviewed Emira Woods on the looming oil war in Africa, billed (as customary) by the U.S. as yet another war on terror and al Qaeda:

http://www.democracynow.org/2013/1/18/unintended_consequences_of_military_intervention_roots

Friday, January 18, 2013

"Unintended Consequences of Military Intervention": Roots of Mali, Algeria Crisis Tied to Libya War

nimblecivet 6 years 39 weeks ago
#3

Thanks for the links, I'll read them within the next week. I think you're right. You may have seen that recently Iran is moving away from the euro and dollar.

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