What is the crowd's opinion of Petrodollar Warfare: Oil, Iraq and the Future of the Dollar?

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Yeah that's why we can be 30 trillion dollars in debt as a country, yet the value of our currency doesn't change. USD isn't linked to just our economy, the us dollar is tied to OPEC oil, since everyone needs USD to buy oil from the middle east.

In 2000 Sadam Hussain decided that Iraqi oil would be sold in Euros instead of USD. By 2003 the United States had killed him, and installed a new government. This new government immediately reverted back to selling oil in USD, against the advice of every financial advisor due to USD's decline in value

I'm not big on conspiracies but William R. Clark wrote a great book petrol dollar warfare and IMO it's worth reading.

https://www.amazon.com/Petrodollar-Warfare-Iraq-Future-Dollar/dp/0865715149#:~:text=Meticulously%20researched%2C%20Petrodollar%20Warfare%20examines,member%20states%20of%20the%20European

Let's make a list of countries that do not (entirely) or considered not trading in the petrodollar

Russia (bad guys!)

China (bad guys!)

Iran (bad guys!!!!!)

Venezuela (RIP)

Libya (RIP)

Iraq (RIP)

The US Dollar hegemony is real make no mistake. 9/11 was merely an excuse to take military action and secure petroleum resources. We have none other than Dick Nixon to thank for this foreign policy. Furthered by the scum of the Earth Cheney the fucking dredge. despicable.

https://www.amazon.com/Petrodollar-Warfare-Iraq-Future-Dollar/dp/0865715149&ved=2ahUKEwjZvv_Au4nkAhWYq54KHSbVCpUQFjAMegQIARAB&usg=AOvVaw000xKD5u-E9cheksSxasX0

Like all things in life, it is not so cut and dry.

There are proponents of the idea that Iraq was invaded not for the literal oil reserves (though that was perhaps a consideration), but because Saddam Hussein was moving to using Euros instead of Dollars for the exchange of oil, and was highly successful at it. This threatened US hegemony in the region, as oil has always been traded in dollars since stagflation in the 1970s. This was a result of agreement between the Saudis and the Americans, who essentially control OPEC.

Here's a book on it: https://www.amazon.com/Petrodollar-Warfare-Iraq-Future-Dollar/dp/0865715149

> Oil isn't any more cheap because it's currently traded in dollars.

Wrong. If you have to buy oil in a foreign country's currency, you have to buy that currency first, then buy the oil. You will always lose value in the exchange. In fact, the Iraq War may have been started to ensure the world's oil supply continues to be priced in American dollars and not Euros.

Automation will affect China and India less, because the citizens of those countries are not used to the standard of living Americans have enjoyed as a result of being less than 4% of the world's population but holding over 30% of the world's wealth. Globalization and automation will level the standard of living across the world; what that means is that as life for Indians and Chinese improves, life for Americans gets worse.

The ethnic divides in America have been kept assuaged by the bouyant economy and petrodollar; once those tank, the fissures in society will erupt and America will implode into a violent racial, ethnic, and religious civil war with horrific casualties.

> Oil isn't any more cheap because it's currently traded in dollars.

Wrong. If you have to buy oil in a foreign country's currency, you have to buy that currency first, then buy the oil. You will always lose value in the exchange. In fact, the Iraq War may have been started to ensure the world's oil supply continues to be priced in American dollars and not Euros.

Automation will affect China and India less, because the citizens of those countries are not used to the standard of living Americans have enjoyed as a result of being less than 4% of the world's population but holding over 30% of the world's wealth. Globalization and automation will level the standard of living across the world; what that means is that as life for Indians and Chinese improves, life for Americans gets worse.

The ethnic divides in America have been kept assuaged by the bouyant economy and petrodollar; once those tank, the fissures in society will erupt and America will implode into a violent racial, ethnic, and religious civil war with horrific casualties.

they will have to buy it with dollars.........https://www.amazon.com/Petrodollar-Warfare-Iraq-Future-Dollar/dp/0865715149

But I found a couple random sources from Wikipedia, and from other redditors. Hopefully this gets you started on your own research to see what makes the most sense to you.

http://www.rferl.org/content/article/1095057.html

>Shammas says the idea of switching to the euro has appeal to Iran and Iraq because they feel if several major oil producers did it they could create a stampede from the dollar which would weaken Washington.

http://content.time.com/time/magazine/article/0,9171,998512,00.html
https://www.theguardian.com/business/2003/feb/16/iraq.theeuro
http://www.monetary.org/was-the-iraqi-shift-to-euro-currency-to-real-reason-for-war/2010/12
http://www.rferl.org/content/article/1095057.html
http://www.globalresearch.ca/articles/CLA410A.html
https://www.amazon.co.uk/Petrodollar-Warfare-Iraq-Future-Dollar/dp/0865715149
http://www.economist.com/node/1378764

I doubt anyone can prove it. If snowden had the dox he would have prob leaked it by now.

But I found a couple random sources from Wikipedia, and from other redditors. Hopefully this gets you started on your own research to see what makes the most sense to you.

http://www.rferl.org/content/article/1095057.html

>Shammas says the idea of switching to the euro has appeal to Iran and Iraq because they feel if several major oil producers did it they could create a stampede from the dollar which would weaken Washington.

http://content.time.com/time/magazine/article/0,9171,998512,00.html
https://www.theguardian.com/business/2003/feb/16/iraq.theeuro
http://www.monetary.org/was-the-iraqi-shift-to-euro-currency-to-real-reason-for-war/2010/12
http://www.rferl.org/content/article/1095057.html
http://www.globalresearch.ca/articles/CLA410A.html
https://www.amazon.co.uk/Petrodollar-Warfare-Iraq-Future-Dollar/dp/0865715149
http://www.economist.com/node/1378764

I'm not sure if this is what you're looking for...

But I found a couple random sources from Wikipedia, and from other redditors. Hopefully this gets you started on your own research to see what makes the most sense to you.

http://www.rferl.org/content/article/1095057.html

>Shammas says the idea of switching to the euro has appeal to Iran and Iraq because they feel if several major oil producers did it they could create a stampede from the dollar which would weaken Washington.

http://content.time.com/time/magazine/article/0,9171,998512,00.html
https://www.theguardian.com/business/2003/feb/16/iraq.theeuro
http://www.monetary.org/was-the-iraqi-shift-to-euro-currency-to-real-reason-for-war/2010/12
http://www.rferl.org/content/article/1095057.html
http://www.globalresearch.ca/articles/CLA410A.html
https://www.amazon.co.uk/Petrodollar-Warfare-Iraq-Future-Dollar/dp/0865715149
http://www.economist.com/node/1378764

http://www.amazon.com/Petrodollar-Warfare-Iraq-Future-Dollar/dp/0865715149

Here's a very readable book by a respected author.

> I need more proof to believe that because people have been doing it for thousands of years without government.

Okay, here's one. And the American style suburban infrastructure is a wholly new experiment. There's a reason why most European cities are dense and walkable.

> Also, you having not personally been in a crash is simply an anecdote. It's all but irrelevant and hasn't saved the 600-800 people that die every year biking.

~40,000 get killed by cars every year and 2,239,000 get injured.

> MICC

MICC = military-industrial-congressional-complex. Why do you think the US is involved in wars in the Middle East?

> why aren't you against local economies?

That makes no sense... Keeping more money in the local economy means that *less * money ends up in the hands of the government. What kind of ancap are you?

> I would also point out that the easiest way to help people who are punished by their government is through trade.

That's true if and only if you're trading with people, not governments. Have you heard of petro-dollar warfare?

> I still don't understand why you're against global economies...

Never said I was, except for trading for oil with regimes that are brutal and fund wars.

Just found a couple random sources from Wikipedia, and from other redditors. Hopefully this gets you started on your own research to see what makes the most sense to you.

http://www.rferl.org/content/article/1095057.html

>Shammas says the idea of switching to the euro has appeal to Iran and Iraq because they feel if several major oil producers did it they could create a stampede from the dollar which would weaken Washington.

http://content.time.com/time/magazine/article/0,9171,998512,00.html
https://www.theguardian.com/business/2003/feb/16/iraq.theeuro
http://www.monetary.org/was-the-iraqi-shift-to-euro-currency-to-real-reason-for-war/2010/12
http://www.rferl.org/content/article/1095057.html
http://www.globalresearch.ca/articles/CLA410A.html
https://www.amazon.co.uk/Petrodollar-Warfare-Iraq-Future-Dollar/dp/0865715149
http://www.economist.com/node/1378764

Just found a couple random sources from Wikipedia, and from other redditors. Hopefully this gets you started on your own research to see what makes the most sense to you.

http://www.rferl.org/content/article/1095057.html

>Shammas says the idea of switching to the euro has appeal to Iran and Iraq because they feel if several major oil producers did it they could create a stampede from the dollar which would weaken Washington.

http://content.time.com/time/magazine/article/0,9171,998512,00.html
https://www.theguardian.com/business/2003/feb/16/iraq.theeuro
http://www.monetary.org/was-the-iraqi-shift-to-euro-currency-to-real-reason-for-war/2010/12
http://www.rferl.org/content/article/1095057.html
http://www.globalresearch.ca/articles/CLA410A.html
https://www.amazon.co.uk/Petrodollar-Warfare-Iraq-Future-Dollar/dp/0865715149
http://www.economist.com/node/1378764

It was more than just raw oil it was also the the fact that the US has been buying oil from the Saudi's for decades who in turn were stockpiling US money without spending it. You might remember from economics that all currency is simply a promise to provide goods or services at a later date. Every printed dollar is a promise, that at some point, you can return that dollar to me for an object or service that costs a dollar. So- one of the triggers for ousting Saddam is that the Oil embargo set by the UN was about to expire. You might remember the Food for Oil program on CNN. Well that meant that the Iraq was about to open as a major supplier of oil. Saddam was anti-US, so he declared that he was going to trade oil in Euros and not US dollars. People in the US think-tanks felt that this could push others in OPEC (Kuwait is the only OPEC country to be "Pro-American") to also switch. If the Saudis felt that their stockpiles of hard US currency were devaluing, then there was a possibility they would effectively call in their 'promises'. The US economy simply doesn't have enough stuff to make that the Saudi's want, so they would probably sell their US dollars for Euros. The result would be a completely devalued currency and probably a bankrupted US. Therefore, removing Saddam was the only logical (however immoral) option left. If you're interested in further reading, I came across this information (seems legit) in this book

Conspiracies imply it isn't true.

Look at the list of middle eastern invasions, look at the list of the middle eastern leaders who subverted, or tried to subvert the petrodollar... They're the same list.

Iraq, Iran, Syria, Afghanistan...
Funny enough though, the middle east countries that play ball with the petrodollar, namely Saudi Arabia enjoy all kinds of financial and military support.