Reasons for the War on Iraq 3

In late 2000, Saddam Hussein converted his 10 billion dollar reserve fund from the dollar to the euro. Many people believe that was the last straw as far as the Bush Administration goes.

Since about the end of WWII, the world's reserve currency has been in the form of the dollar basically making us the most powerful country in the world. Of course, it is no surprise to anyone that our country is in a severe amount of debt now and the value of the dollar is diminishing. Many countries had already converted their reserve funds from the dollar to the euro before Saddam and for a good reason. At that time the Euro had already surpassed the dollar by about 17%. If the OPEC( Organization of Petroleum Exporting Countries) were to make the change change completely from the dollar to the euro, the dollar could have crashed by up to 40%, especially if it was something that was done immediately rather than over a period of time. With control over Iraq, the U.S. and whoever they decide to put into power controls not only the 10 Billion dollar "Oil for Food" fund that Saddam had previously converted but, like I said before, the 2nd largest oil reserves in the world.

We now know that it is inevitable that the world's reserve currency will be switched from the dollar to a handful of different currencies. However, the Bush administration was trying to prolong this for as long as possible not caring who in the world they "ticked off".


http://www.rense.com/general34/realre.htm

http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html