On Feb 24 2012 9:22 PM, Clave wrote:
> "Hollis2" <a3a8...
@webnntp.invalid> wrote in message
> > On Feb 24 2012 5:11 PM, Clave wrote:
> >> "Hollis2" <a3a8...@webnntp.invalid> wrote in message
> >> news:email@example.com...
> >> > On Feb 24 2012 2:26 AM, Clave wrote:
> >> >> "ChrisRobin" <a9db...@webnntp.invalid> wrote in message
> >> >> news:firstname.lastname@example.org...
> >> >> > On Feb 23 2012 11:53 PM, Pepe Papon wrote:
> >> >> >> Let's not forget that Saddam was the major force in the region for
> >> >> >> the
> >> >> >> containment of Iran. With Saddam gone, Iran gained a lot of
> >> >> >> power.
> >> >> >> That's not exactly beneficial to US interests.
> >> >> > He was also a U.S. ally until we tacitly allowed him to invade
> >> >> > Kuwait...
> >> >> > and then turned on him.
> >> >> Saddam the Suicidal Fool made the Euro his petrocurrency. Everything
> >> >> since
> >> >> fell out of that.
> >> > Are you also a 9/11 truther, or is this the only harebrained conspiracy
> >> > theory you believe in?
> >> What part are you having trouble with?
> > One harebrained conspiracy theory is as bad as another...
> The petrodollar issue seems more credible to me than anything Bush/Cheney
> were proffering at the time -- I think it was more about the threat to the
> dollar than the oil itself, and it certainly wasn't about 9/11, WMDs,
> Kurd-gassing or no-fly-zone violations.
The switch to the euro happened while Clinton was still in office. It was
approved by the UN which was "overseeing" the oil for food program. The
US did not oppose the switch.
It's impossible to know exactly if it had any effect on the dollar one way
or the other. The amount of money involved wasn't that great compared to
the global position of the dollar. It would only have had an effect if
nations buying Iraqi oil had to sell dollars and buy euros to get the oil.
Obviously any EU member wouldn't have to do that. Also, countries like
China and Japan had huge trade surpluses with Europe, so they would have
plenty of euros on hand. A country like Russia would have had to sell
rubles to get euros.
What's more, the Bush Administration was in favor of a weak dollar, so
they wouldn't have cared if the dollar fell against the euro. The EU was
more concerned about that than the Americans because selling goods in the
US was very important to the EU economy.
The war was primarily about one thing and that was regime change. That
was the official US policy formulated during the Clinton Administration.
Bush actually did it. Obviously, like all wars, there were many other
factors involved and there were winners and losers, but at its heart, the
war was about getting rid of Saddam.