FINANCIAL BUZZ | The Dollar – Part VI

 

The Dollar – Part VI

By Barrio Bee

 

In 2001, Venezuela tried to switch to Euro for all oil sales.

Within a year, there was a coup attempt.

Despite the fact that the leadership was democratically elected.

The U.S. was sympathetic to those who plotted against that leadership

And was embarrassed by the failure of the coup.

Attempts to nudge the Euro as the world’s currency –

Was met with and always will be met with U.S. resistance…

No surprise that the sharp fall of the dollar against the Euro was reversed.

Alas…  We have the advent of maintaining dollar dominance…

 

By 2006, another attempt was made against the dollar system.

Iran announced plans for an oil exchange.

Guess what?  The oil sales would be priced in Euros.

Most Americans forget that U.S. policies antagonized Iran for many years

In 1953, the CIA helped overthrow a democratically elected Iranian president,

An authoritarian Shah was then installed, who was friendly to the U.S.

Iran was still fuming over this when the hostages were seized in 1979.

U.S. alliance with Iraq in the 1980 invasion of Iran made matters worse.

Alas…  We have the advent of the axis of evil…

 

The U.S. announcing in 2001 that Iran was part of the axis of evil…

Didn’t do much to improve diplomatic relations.

Given all the history, there’s no surprise that Iran would try to harm America…

Especially where it hurts most – undermine the dollar.

Iran, like Iraq, has zero capability to physically attack the U.S.

That didn’t stop the U.S. from portraying Iraq as a threat to world dominance.

Now Iran is the target of a propaganda war;

Not unlike the one waged against Iraq before U.S. invasion.

Alas…  We have the advent of dollar justification…