Economy
Economy
OPEC: Oil dollars or Oil Euros? -- The Coming Depression
OPEC: Oil dollars or Oil Euros?
Most of the world now realizes that the main reason for the USA to invade Iraq was to take its oil. What most governments, but few citizens, know, is that the rush to war was due to Saddam Hussain’s committing the high crime of accepting Euro dollars for oil under the “Oil for Food” program. While oil sales from Iraq were minimal due to UN sanctions, the act of defiance did not go unnoticed. Iran, Venezuela, and North Korea all started to dump portions of their US dollar reserves, and OPEC itself received European Union representatives who gave a presentation on the advantages of using the Euro currency for oil sales. The EU today is actually a larger market than the USA. It has more people and more money, and uses more oil than the United States. As OPECs largest single customer, it makes sense to use their currency. With Europe posing a major threat to the hegemony of the US Greenback, the USA decided it had to do something drastic to show OPEC that it would not allow a switch to the Euro. This is why; shortly after Iraq’s conversion to the Euro in late 2000, the USA used the excuse of 9/11 to invade Iraq - not to fight terrorism, but to perpetrate terror itself in order to keep OPEC in line. One can understand the reticence of Germany, France, and Russia when it came to invading Iraq, as switching to the Euro would have been a strategic economic victory.
Sep 22, 2005, 22:24
Economy
In New York City, Fewer Find They Can Make It
This story says a great deal about how the rich are getting
richer and the poor are getting poorer.
Mar 14, 2004, 23:04
Economy
Our So-Called Economic Recovery - For the rich...
You may be tempted to speculate that the economic recovery is an exclusive party, and most people were not invited. You would be right.
Dec 30, 2003, 17:10
Economy
Economic Conditions and Trends: Unemployment
International Business Machines Corporation - I.B.M. has sent a holiday chill through its American employees with its plans to ship thousands of high-paying white-collar jobs (over 4700) overseas to lower-paid foreign workers.
Dec 26, 2003, 01:52
Economy
Outsourcing of American Jobs and the US Economy
Letter in response to a website link partner...
Dec 1, 2003, 02:09
Economy
White House Shelved 44 Trillion Deficit Report?
Editor's Note | Many financial experts have warned that the massive budget deficits described in the article below will bankrupt this country for the next 25 years. One must also ponder whether the drafting of this report was the main reason Paul O'Neill was removed as Treasury Secretary. - wrp
May 30, 2003, 10:21
Economy
Finances of U.S. States Called Worst Since World War II
WASHINGTON, Nov. 25 -- Plunging tax collections and soaring medical costs have created the worst fiscal problems for states
since World War II, the National Governors Association said today.
Nov 28, 2002, 11:41
|
