Iraq, Iran and the Petro Dollar: History Repeats

In 2000, Iraq announced it was going to trade oil in Euros instead of dollars. Two and a half years later, US troops were standing guard over its oil fields (making sure they trade in dollars, of course).

By 2006, Iran had started trading oil in its own exchange system, that "could threaten the supremacy of London's International Petroleum Exchange". The system would use Euros, not dollars. Three years later, media rhetoric about Iran's Weapons of Mass Destruction is definitely aiming to push the public to support a war there.

Video lays it all out.



I should note that I disapprove of the liberal usage of the buzz word 'conspiracy', especially the idea that going to war in Iraq for reasons other than 'freedom and democracy' is a 'huge conspiracy'. If so, it's the most open conspiracy ever made. Everyone knows it was about controlling the oil, at least in part. Some people even think it's good to fight for control of Iraq's oil.


Also, Americans, though the video discusses your apparent 'supremacy', I guess you'll know by now that you as individuals don't get the benefits of that supremacy, something we Brits ought to remember from our own global empire. War and empire enriches and empowers a few (elite), at the expense of the rest (ordinary people).

Or do you even know you have the biggest global empire ever constructed, with troops in 135 countries as of 2004? Rhodes would be jealous!

All empires, however, must die a death eventually. It's inevitable (though this doesn't necessarily mean the home nation collapses too). This one is threatening to drag the whole world down with it...it's a lot more dangerous to have the banksters behind the BoE, Fed etc having nuclear weapons than some Persian Mullocracy.

And the banksters really might use theirs if it looks like they're going to be unseated by the people. A nuclear 9/11, they may reason, is the only way to keep people in line. It would be blamed on "Al-Qaeda in Iran", then Iran would be invaded.

Don't think they wouldn't try it, if they thought they could get away with it.