Hussein's plan... Gadhfi's plan... Iran's plan... to quit selling the world oil in U.S. dollars — and talking about demanding payment instead in gold-backed currency — is the real cause for U.S. taking action against them. These regimes, sitting on huge amounts of gold (and oil), and beginning to push for other African and Middle Eastern nations to follow suit along with them. They literally had/ have the potential power to bring down the dollar, and the world monetary system as well by extension.
Any move such as that is most certainly not welcomed by the power elite in the U.S., who are responsible for controlling the world's central banks and the dollar's status as the world's reserve currency. Their goals of taking such actions would certainly be something that would cause their immediate dismissal, and the need for other reasons to be brought forward by the U.S. for acting to remove them from power... as well as to be sure that they were some how 'eliminated' so as not to bring to light the actual events as they would have surely done if captured and brought to trial.
Saddam Hussein, once armed by the U.S. government to make war on Iran, was threatening to start selling oil in currencies other than the dollar just prior to the Bush administration’s “regime change” mission.
Saddam's and Gadhafi's plan would have strengthened the middle-east and whole continent of Africa in the eyes of economists backing sound money — not to mention investors. But it would have been most especially devastating for the U.S. economy, the American dollar, and particularly the elite in charge of the system.
As for Iran, it is one of the few nations left in the world with a completely state-owned central bank. And at present there is huge pressure being exerted in the U.S. for sanctions (in all probability leading up to military actions as in Iraq and Libya) against it.
There has been much debate lately on the matter of Iran's plans to open their own mercantile exchange, an oil bourse, and perhaps not coincidentally, talk of imminent war. Iran has been talking bout shifting its petrodollars into a euro-based bourse. The effect on the value of the dollar would be significant, if not, in the long term, disastrous.
The idea is when Iran opens their own market and begins to denominate their oil sales in euros, it would cause the different governments of the world to divest some of their dollar holdings so that they can instead save euros for the large transactions, and that this could threaten the hegemony of the US dollar. If the world were to abandon the US dollar as the reserve currency, all those dollars would come floating home, causing massive inflation.
The dollar is not the reserve currency because oil is billed in dollars. Many believe the US is abusing the dollar's role as reserve currency. When a trusted alternative appears, the dollar is likely to lose its reserve currency role. Perhaps the real question is whether American politicians will let a major oil producing country set a bad example in front of the others. The real trouble for our criminal politicians is that, "Today, US war-making capability is dependent on the rest of the world to finance it."
The Bretton Woods agreement established the dollar as the world reserve currency, while at the same time transferring much of America's gold overseas, which resulted in the government under Richard Nixon defaulting in 1971, which ended forever the promise to pay gold to bearers of US dollars on demand, and switching our currency to government-monopoly money.
"Realizing the world was embarking on something new and mind-boggling, elite money managers, with especially strong support from U.S. authorities, struck an agreement with OPEC to price oil in U.S. dollars exclusively for all worldwide transactions. This gave the dollar a special place among world currencies and in essence "backed" the dollar with oil. In return, the U.S. promised to protect the various oil-rich kingdoms in the Persian Gulf against threat of invasion or domestic coup. This arrangement helped ignite the radical Islamic movement among those who resented our influence in the region. The arrangement gave the dollar artificial strength, with tremendous financial benefits for the United States. It allowed us to export our monetary inflation by buying oil and other goods at a great discount as dollar influence flourished.
While remembering the role likely played by Saddam's switch to the Euro in 2000 in the decision for "regime change," ...also consider... "In 2001, Venezuela's ambassador to Russia spoke of Venezuela switching to the Euro for all their oil sales. Within a year there was a coup attempt against Chavez, reportedly with assistance from our CIA. After these attempts to nudge the Euro toward replacing the dollar as the world's reserve currency were met with resistance, the sharp fall of the dollar against the Euro was reversed. These events may well have played a significant role in maintaining dollar dominance.
It's become clear the U.S. administration was sympathetic to those who plotted the overthrow of Chavez, and was embarrassed by its failure. The fact that Chavez was democratically elected had little influence on which side we supported."
And that, "Though we don't occupy foreign countries to directly plunder, we nevertheless have spread our troops across 130 nations of the world. Our intense effort to spread our power in the oil-rich Middle East is not a coincidence. But unlike the old days, we don't declare direct ownership of the natural resources - we just insist that we can buy what we want and pay for it with our paper money. Any country that challenges our authority does so at great risk.
Once again Congress has bought into the war propaganda against Iran, just as it did against Iraq. Arguments are now made for attacking Iran economically, and militarily if necessary. These arguments are all based on the same false reasons given for the ill-fated and costly occupation of Iraq."
Eight out of Ten Americans, according to UPI, believe that Iran is a nuclear threat to the United States. Apparently the only thing standing in the way of the war with Iran is the fact that it would be at least as destructive to the American and world economy as about anything else we could do. Which brings up the question, as the War Party drives this country into the ground, are they trying to save the dollar or destroy it? Either way, it's clear, Empire is a bad deal for America.
While most of the main stream, establishment press in America was silent on the issue of Gadhafi’s gold dinar scheme, in Russia, China, and the global alternative media, the theory had exploded in popularity.
Whether salvaging central banking and the corrupt global monetary system were truly among the reasons for Saddam and Gadhafi’s overthrow, however, may never be known for certain — at least not publicly... ...then again, maybe someday it will.
Let's just hope it does not take us down a path to another war in the region.. right now it surely looks it is going that way though.
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