The Real Reasons for the Upcoming War With Iraq

[John S]

Everyone here MUST read these two articles. And if you don't understand them, read them over and over again until you do!!! This is of extreme importance.

As you read this, you will come to realise that the Bush war against Iraq is a war against the euro. Iraq has chosen to accept oil payments only in euros. As you read through the articles, you will see why the US does not want Iraq or any other OPEC country to switch from the dollar to the euro.

You will also learn how important it is for the EU to encourage OPEC to switch to the euro. Your future as Europeans depends on this. This is not a matter to be taken lightly. Europeans have every right to see the euro as an international reserve currency. There are many economic benefits to this, and George Bush knows this. It is in the interest of a stabile and prosperous Europe that the citizens of the EU struggle to have the euro on an equal footing with the dollar.

Don't let the US or George Bush take away from you what is rightfully yours?

http://www.ratical.org/ratville/CAH/RRiraqWar.html

http://www.feasta.org/documents/papers/oil1.htm

[Skylimit]

Thank you for the links. Apparently, thanks to the internet, valuable information does come through in the States. I have been really shocked by an edition of "Moneyline" on CNN this week, where three cool analysts and Dobbs (I think) were urging the US to invade Iraq for the sake of the American Stock Market. They said, it would be an ideal moment when Dominique de Villepin was in Club-Med - where-he-belongs ... hahaha.
Really tasteless ... and in the same line of the jokes about the Euro when it was at 83 cents ... It is a technique.

The last months, the analysis of the stock market has always been that the uncertainty of the war in Iraq was weighing on stock prices ...

Nothing is less true. The American Economy is in real trouble. The Iraq war has many advatages.

1) diverting attention from the real issues (!) As long as you talk about Iraq you don't see that the Bush administration has made a complete mess of your country.
2) Currency (!) a falling dollar would have been a great thing years ago, now it is a real threat ... what if the Fed MUST raise interest rates ?
If indeed the dollar is no longer THE number one international currency, maybe one day OIL is going to be sold in another currency, and with the dollar falling to historical lows, this would kill your economy.
3) Geopolitical control of the oil reserves. (note that France and Russia have important positions in Iraq ... so the veto is as couloured as the US war plans --> but we are on the right side of international law ... so we get away with it, for now ... because your president will reduce the UN to an irrelevant instrument, which will mean that there IS no international law anymore ... That is : bad times ahead ... we will have preventive wars all over the place, and a real war economy ... If you cannot sell cars, well then it will be guns and fighter jets ... maybe all the obsolete war material the US has, can be sold ... hmmm end of brackets )

[airis]

Very interesting. Iran has also considered switching oil trade from dollar to euro. Maybe Iran wants UK to join euro first.

Of course, there are certain checks on these trends. For one, the world’s major financial centres are still New York and London, and Britain has still not joined the euro. The euro has as yet no financial centre to rival London and New York. Thus Iran is hesitant to actually make the switch to the euro because London is still the financial centre for Iran overseas business.

http://www.rupe-india.org/34/homefront.html
http://www.rupe-india.org/34/military.html
What does USA feel about UK joining euro?

[Olivier]

I totally agree with you, Skylimit !

[Olivier]

http://www.rupe-india.org/34/homefront.html
http://www.rupe-india.org/34/military.html
What does USA feel about UK joining euro?

It's interesting to read opinions out of the US and Europe. I see that many countries fear a collapse of the US economy and try to sell dollars little by little...

Canadian friends told me about this situation, this week, for a dinner. They are glad that the euro exists, so they can put their eggs in different baskets... The lack of confidence is more and more obvious.

[Olivier]

What does USA feel about UK joining euro?

The articles I have read on euro, in the US press before 1999 were very sceptical, even sarcastic. The euro was not possible because the europeans can never agree on any topic... the dollar is stronger, the US economy is the best of the world blablabla...

They have been surprised by the achievement of the euro in 2002! Also by the enthousiasm of the Europeans. The EU has been a very attractive pole, now, for its neighbours.

Their efforts is now to devide Europe. They have reached for the situation in Irak.

The situation will change when the UK decides to quit the Pound...

For the moment, they just can't imagine the UK adopting the euro. The media of Rupert Murdoch do their best in that way...

O.

[eurobillsandcoins]

I concur, the US dollar isn't very popular after that, its fallen quite a bit since Janurary 2002 against the euro, and other major currencies. At the BNP we sell the dollar at around when someone buys from us, 90 euro cents and we give 87 euro cents for one euro. It used to be around €1.15 for one US dollar. The euro high is good, but is a disaster for the economy as the investment banker in my branch says. The reason is the raye being so high, european cars, items become more expensive outside the eurozone. This results in less sales. Europe can benefit from items imported into Europe as a strong currency. But the euro is getting dangerously high he says, it will hurt the economy in the long run, unless if the ECB lowers interest rates.

[Olivier]

The reason is the raye being so high, european cars, items become more expensive outside the eurozone. This results in less sales. Europe can benefit from items imported into Europe as a strong currency. But the euro is getting dangerously high he says, it will hurt the economy in the long run, unless if the ECB lowers interest rates.

I don't agree with this opinion of the problem of a high euro. After all, the german mark was very strong in the 80's and it was not a problem for the german economy.
Today, there are already 350 millions of people who use the euro, and in the future, 450 millions will be. The value of one euro is... one euro. we don't have to focus on the level on the american dollar if we decide that we pay our supplier with euros and that we buy with euros...

The European Union is the most important group of consumers, before USA and Japan, just behind China and India!

Europe has not understand how strong it is!

Olivier

[Olivier]

Europe can benefit from items imported into Europe as a strong currency.

It's a good point these days, with a very expensive oil...
Europe can suffer less from a war in Gulf with a strong euro. Moreover if it can persuade the Arabic countries to sell oil in euros and no more in dollars.

Olivier

[eurobillsandcoins]

The reason is the raye being so high, european cars, items become more expensive outside the eurozone. This results in less sales. Europe can benefit from items imported into Europe as a strong currency. But the euro is getting dangerously high he says, it will hurt the economy in the long run, unless if the ECB lowers interest rates.

I don't agree with this opinion of the problem of a high euro. After all, the german mark was very strong in the 80's and it was not a problem for the german economy.
Today, there are already 350 millions of people who use the euro, and in the future, 450 millions will be. The value of one euro is... one euro. we don't have to focus on the level on the american dollar if we decide that we pay our supplier with euros and that we buy with euros...



Don't ask me, I have not much opinion, the investment banker in our branch is a professional so I follow his word. I'm too deep as being a branch manager to think about exchange rate of the euro.

The European Union is the most important group of consumers, before USA and Japan, just behind China and India!

Europe has not understand how strong it is!

Olivier

[eurobillsandcoins]

The reason is the raye being so high, european cars, items become more expensive outside the eurozone. This results in less sales. Europe can benefit from items imported into Europe as a strong currency. But the euro is getting dangerously high he says, it will hurt the economy in the long run, unless if the ECB lowers interest rates.

I don't agree with this opinion of the problem of a high euro. After all, the german mark was very strong in the 80's and it was not a problem for the german economy.
Today, there are already 350 millions of people who use the euro, and in the future, 450 millions will be. The value of one euro is... one euro. we don't have to focus on the level on the american dollar if we decide that we pay our supplier with euros and that we buy with euros...

The European Union is the most important group of consumers, before USA and Japan, just behind China and India!

Europe has not understand how strong it is!

Olivier

My message was supposed to look like this:
Don't ask me, I have not much opinion, the investment banker in our branch is a professional so I follow his word. I'm too deep as being a branch manager to think about exchange rate of the euro.

[micro]

It's an interesting aspect that the switching of the currency might have an affect to the relations between countries but to call it "the REAL reason for the war" does not seem very reasonable to me . I'm of course against the war, but the documents are a bit fancy.

[Skylimit]

It's an interesting aspect that the switching of the currency might have an affect to the relations between countries but to call it "the REAL reason for the war" does not seem very reasonable to me . I'm of course against the war, but the documents are a bit fancy.

I believe it is a fact that the unique situation in the US (huge debt and huge trade deficit, combined until last summer with a strong dollar and high stock prices) is only possible with the mechanism described in the essay. The collapse of the stock market, a falling dollar and a rising euro, make the thought possible that once the dollar would no longer be the international reserve currency ... which would inevitably mark the end of the US hegemony [but not their military superpower status]
Knowing that, it would be possible to go to war over currency...

Of course, even if it were true, it will also be the unspoken truth ... you cannot verify or falsify this assertion, which leaves it as "an interesting theory".

It strikes me as odd, that I as an Euro-freak did not know that Iraq sold oil in Euros ... Isn't that odd ? I bet virtually nobody on this forum knew that ...

We all know though that the whole Bush adminstration is linked to the Oil industry ... A puppet regime in Iraq would be "interesting" for the American Oil Companies ... and this thruth is far more simpler to understand, and accept.

I have repeatedly stated however, that Bush is clearly trying to divide Europe, and is being helped by Britain (unless they finally sack Tony Blair - who is clearly out of line - and out of Europe for all I care)

[airis]

http://politics.guardian.co.uk/Print/0, ... 65,00.html
It seems that Iraq has made a profit after switching currecy.

UN officials insist that this benefit helps to pay for humanitarian aid, war reparations, and the cost of weapons inspectors.

I hope they really have spent the money for humanitarian aid.

[eurobillsandcoins]

Right now is my breaktime, I'll go ask what the euros effects on the dollar are, I'll be back in 5 minutes.