In November of 2000, Hussein switched to selling oil in Euros, when normally all OPEC nations sell their oil in US Dollars. Why?As Ron Paul explains the US added a secret agreement to the overall OPEC Agreement where OPEC nations promised to sell oil in US dollars, and no other currency. This effectively backs the US dollar in oil, and all countries need US dollars in their reserves. This article explains why.This is why some people call our currency The Petrodollar.
When Hussein started selling oil in Euros, it attacked the dollar’s dominance as the world currency. And of course, two other countries tried, or are trying, to follow suit. Venezuela tried in 2001, and within a year Chavez was almost removed in a military coup – in the Ron Paul speech I linked to above, he states it is widely rumored that our CIA was involved in that coup.
And now Iran is starting its own oil bourse (exchange).
Notice a trend here?
Filed under: 9/11, Activism, Bush, Corporations, Democracy, Global Warming, Iraq, Middle East, Oil, Politics, Scandals, Solutions, War | Tagged: current events, dollar, energy, energy independence, euro, news, opec, peak oil, petrodollars, saddam hussein
