Interdum stultus opportuna loquitur...

Friday, November 26, 2004

The Invasion of Iraq: Dollar vs Euro

Note - from June 24th 2009, this blog has migrated from Blogger to a self-hosted version. Click here to go straight there.

Although posted at an obscure site, this piece encapsulates several important themes -

  • the emerging consensus of "US-as-moocher";
  • the economic necessity for the US to take military action if necessary to forestall any moves to abandon US-denominated trade in oil; and
  • the mechanism by which US-dollar hegemony arose in the first place (which has much to do with the US-led bombing of European infrastructure during WWII).
A very worthwhile read...

The Invasion of Iraq: Dollar vs Euro Re-denominating Iraqi oil in U. S. dollars, instead of the euro

And as usual, Fred Reed is absolutely on FIRE this week...