Iraq stops selling oil in US Dollars, US invades.

What if I told you that 10 months before 9/11, Saddam Hussein did something very big, and pissed off the US Administration?

From the article:

“When Hussein started selling oil in Euros, it attacked the dollar’s dominance as the world currency. And of course, two other countries tried, or are trying, to follow suit. Venezuela tried in 2001, and within a year Chavez was almost removed in a military coup…

And now Iran is starting its own oil bourse (exchange).

Notice a trend here?

Luckily for Bush, 9/11 happened not long after Hussein started selling oil in Euros, otherwise we would not be in Iraq. Interestingly, all Iraqi reserves were quickly converted back to US dollars once we took over, and oil was once again sold in US dollars.”

For a less tinfoily look at the same topic, see Oil, Currency and the War on Iraq.

“So far only one OPEC country has dared switch to the euro: Iraq, in November 2000. There is little doubt that this was a deliberate attempt by Saddam to strike back at the US, but in economic terms it has also turned out to have been a huge success: at the time of Iraq’s conversion the euro was worth around 83 US cents but it is now worth over $1.05. There may however be other consequences to this decision.

One other OPEC country has been talking publicly about possible conversion to the euro since 1999: Iran, a country which has since been included in the George W. Bush’s ‘axis of evil’.

A third OPEC country which has recently fallen out with the US government is Venezuela and it too has been showing disloyalty to the dollar.”

~ by tinfoilhatnews on March 15, 2008.