Eurodollarsforoil

Blessed are the Geeks, for they shall internet the earth

Conspiracy Theory Files: Was War with Iraq really over Euro Dollars for Oil?by Douglas Chick

Oil me this and oil me that? Speculation to why the U.S. launched the war against Iraq has always been one for economic reasons. Only those that share the same faith base as the President ever believed that the war was about liberation and just the right thing. A more feasible explanation by those more skeptical might argue that the relationship between the Bush cabinet and oil is a more likely to culprit. Enter this months conspiracy theory file about trading oil for Euro dollars.

Since 1901, when drillers opened up the first arteries in the Texas oil fields the oil industry sold their barrels of Texas Tea for the U.S. dollar, and it still stands today. Whether oil is purchased in Alaska, Norway or Saudi Arabia, oil is paid for with the U.S. Dollar. Because the standard currency to purchase oil is the U.S. dollars, other countries must acquire the greenback from the U.S. Reserve if they want to buy oil. Thus comes the name; United States Reserve. With the purchase of every barrel of oil the U.S. Reserve prints out and allocates this money to the purchasing country in question. So all oil is bought with U.S. dollars. This practice of dollars for oil is what is used to reflate the U.S. inflation and prevents the largest deficit in the world from collapsing in on it self.

One day in the year of our loud 2000, Iraq decides that it no longer wants to sell its oil using the currency of its enemy, the U.S. and decides to change the standard to Euro dollars and the heck with everyone. After all, why would they want to help contribute to the economy of its oppressors? At the time the Euro was around 82 cents and the rest of the world named the Iraqi leader as a crackpot that cut off his nose to spite his face. As the Euro was 82 cents to the U.S. dollar, Iraq would lose millions. But Iraq had other ideas in mind.

The Euro on todays market is somewhere around 1.17 to the U.S. one dollar, jumping a giant leap forward surpassing the U.S. and many people claim it is attributed to Iraqs oil for Euro. This is bad news for America as the U.S. economy began taking a dive at precisely the same time frame and hasnt gotten better since.  Iran, another hater of America was now grumbling the same song, Why are we supporting the economy of people we pray to Ali to kill? They too began making sounds of changing to Euro Dollars.

I will take a brief pause here to allow you to digest what weve concluded so far and allow myself a short breakOkay were back. Lets sum up:

1. All oil purchases in the world are tied to the U.S. dollar.- Iraq switched to the Euro dollar causing it to jump at a record rate. So if any countries want to buy oil from Iraq, they must first reserve money from the Euro reserve. This is good for the European Market bad for ours.- Other counties might want to use Euro dollars to sell their oil that might collapses the fragile U.S. economy.- Bush attacks, France and Germany resist, (France and Germany use the Euro dollar.)  - The war is over with Iraq back on U.S. dollars.

That is the short and round of it. If you require more detail you will have to search the Internet using the key words: Euro dollars for oil or Enrons holy war or if you are in the Britain try, Pounding Iraq for pounds.