18 September, 2020

A War Against Eurocrats

The Gulf conflict isn't just about controlling oilfields. Bush also wants to check the Euro's steady climb over the dollar.

A War Against Eurocrats
What's this US-Iraq war all about? Many readers will think of it as a dumb question. Obviously, it's about oil: the US wants to control the world's second-largest oil reserves. Of course, it's about strategic concerns in West Asia: the US wants to reduce its dependence on its current ally, Saudi Arabia, which has become the ideological base for anti-US terrorist outfits. Finally, President George W. Bush wants to send a strong military message to a few nations that support, aid or provide refuge to global terrorist groups.

Well, think again. For, apart from the strategic impact, Gulf War II can have an enormous influence on the ongoing battle for supremacy between the dollar and the Euro. Thus, an underlying, obtuse, but probable intent behind Bush's attack may be to maintain the domination of the US currency on the global economy. A biased, but logical, article on the Net states that this war will ensure that "dollar remains the premier world trading currency", and make sure that the Euro is hurled "back into the economic sea".

Sounds a bit far-fetched, doesn't it?...


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