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The American Empire in a Changing World



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Wednesday, October 31, 2012

''U.S. Dollar vs. the Euro: Another Reason for the Invasion of Iraq''

From Project Censored

''The Euro has begun to emerge as a serious threat to dollar hegemony and U.S. economic dominance. The dollar may prevail throughout the Western Hemisphere, but the Euro and dollar are clashing in the former Soviet Union, Central Asia, Sub-Saharan Africa, and the Middle East.

In November 2000, Iraq became the first OPEC nation to begin selling its oil for Euros. Since then, the value of the Euro has increased 17%, and the dollar has begun to decline. One important reason for the invasion and installation of a U.S. dominated government in Iraq was to force the country back to the dollar. Another reason for the invasion is to dissuade further OPEC momentum toward the Euro, especially from Iran- the second largest OPEC producer, who was actively discussing a switch to Euros for its oil exports.''

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