FINANCIAL BUZZ | The Dollar – Part V






The Dollar – Part V

By Barrio Bee


In November 2000, Saddam demanded Euros for Iraq’s oil.

This arrogance was a direct threat to the dollar;

Even though Iraq’s military might was not considered a threat.

Still…  a major initiative of the new administration in 2001,

Was to get rid of Saddam Hussein —

Though there was no evidence whatsoever that Iraq posed a threat.

As reported by Then-Treasury Secretary Paul O’Neill after the first cabinet meeting,

This deep fear and concern of Iraq surprised Washington officials.

Alas…  We have the advent of the dollar protection…


The immediate reaction of the administration after 9/11…

Revolved around how they could connect Saddam Hussein to the attacks,

To justify an invasion and overthrow of his government.

Even with no evidence of any connection to 9/11,

Or evidence of weapons of mass destruction,

Public and congressional support was generated –

Through distortions and flat out misrepresentation of the facts…

To justify overthrowing Saddam Hussein.

Alas…  We have the advent of dollar rationalization…


There was no public talk of removing Saddam Hussein because…

He attacked the dollar’s integrity as a reserve currency.

But it was the real reason for the administration’s obsession with Iraq.

Probably not the only reason,

But it played a significant role in the motivation to wage war.

Within a very short period after the military victory,

All Iraqi oil sales were carried out in dollars.

The Euro was abandoned.

Alas…  We have the advent of dollar hegemony…