Guns and Butter

Guns and Butter-Dollar Hegemony-The Dollar/Oil Relationship


It
now is common knowledge that the immediate reaction of the
administration after 9/11 revolved around how they could connect Saddam
Hussein to the attacks, to justify an invasion and overthrow of his
government. Even with no evidence of any connection to 9/11, or
evidence of weapons of mass destruction, public and congressional
support was generated through distortions and flat out
misrepresentation of the facts to justify overthrowing Saddam Hussein.


There
was no public talk of removing Saddam Hussein because of his attack on
the integrity of the dollar as a reserve currency by selling oil in
Euros. Many believe this was the real reason for our obsession with
Iraq. I doubt it was the only reason, but it may well have played a
significant role in our motivation to wage war. Within a very short
period after the military victory, all Iraqi oil sales were carried out
in dollars. The Euro was abandoned.