The War To Save The U.S. Dollar [View All]

http://www.axisoflogic.com/artman/publish/article_5716.shtml

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ROGUE STATES

The first OPEC member to show serious disloyalty to the dollar was Iran, which has expressed interest in the euro since 1999. In January 2002, George W. Bush named Iran in his "axis of evil", provoking a wave of anti-American demonstrations reminiscent of the Khomeini era, and undoubtedly setting back the political and religious liberalization of that country. Undeterred, Iran converted most of its currency reserves to euros during 2002, and a proposal to price Iran's oil in euros has been submitted to the central bank and the parliament.

Let us see whether the Americans find an excuse to destabilize Iran's toddling democracy in favor of a dictatorship that just happens to prefer dollars to euros.

The second offender was Venezuela. In 2000, Venezuela's President Hugo Chavez convened a conference on the future of fossil fuels and renewable energy. The report of the conference, delivered by Chavez to the OPEC summit in September 2000, recommended that OPEC set up a computerized barter system so that members could trade oil for goods and services without the use of dollars or any other currency. The chief beneficiaries would be OPEC's poorer customers, who did not have large currency reserves. Chavez made 13 barter deals. In one of them, Cuba provided health services in Venezuelan villages.

In April 2002 there was a coup against the twice-elected President Chavez. The coup was welcomed by the Bush administration and by editorials in numerous American newspapers, but collapsed after two days, leaving evidence that the U.S. administration was behind it <1>.

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