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Fyahman
Honour
'The dollar, instead of being a neutral agent of exchange, has become a weapon of massive economic destruction (WMED) more lethal than nuclear bombs and with more blackmail power, which is exercised ruthlessly by the International Monetary Fund (IMF) on behalf of the Washington Consensus. Trade wars are fought through volatile currency valuations. Dollar hegemony enables the United States to use its trade deficits as the bait for its capital account surplus.'
Give thanks for the post.
The paragraph quoted above(from Part 2) brought back to my mind what someone said at the eve of Gulf War 2. This person said that the real reason Iraq was being invaded was because Saddam had started selling what oil he could for euros - a threat to the hegemony of the dullard (minor when it started but with the potential to turn catastrophic if/when sanctions were lifted).
And, this was something crystal-ball gazers in washington knew was imminent as the consensus was turning in favour of the fact that Iraq no longer had the weapons that were being used to justify sanctions.
He was setting a 'bad' example and this potential future in which other oil-producers started trading in currencies other than the dullard was the real WMD that 'justified' the invasion and occupation.
This also explains why the two main economies in Euroland (france and germany) were against the war. It was'nt because they cared for Iraqis, it was from the desire to protect their budding alternative to the dollar hegemony.
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