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Fri, 07 Feb 2003

[12:15] US Threatening War to Prevent Oil Sales in Euros?

First this passed through my inbox this morning, and then it popped up separately on #perl. The real but unspoken reason for this upcoming war is "this administration's goal of preventing further OPEC momentum towards the euro as an oil transaction currency standard. However, in order to pre-empt OPEC, they need to gain geo-strategic control of Iraq along with its 2nd largest proven oil reserves." Matt Mower provides a more succinct summary of a different article, detailing how the United States' economy is artificially buoyed against an untenable trade deficit by the global use of the dollar as the world reserve currency; how Europe wants a piece of the action; how the sale of crude oil in dollars is the one thing holding a global move from dollars to euros in check. And if you don't think OPEC isn't considering this move, you should take a look at their recent press releases. Definitely a scary prospect, but it's hard to say the US didn't have it coming. I just don't think that killing innocent people in the name of economic benefit, as must ultimately happen, is in any way justifiable.

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