Dear Editor,
Oil has been traded with U.S. dollars since 1971. Other countries must stockpile dollars to be able to purchase oil, which gives America the dominant economy. The only economic bloc to contest America's power is the European Union. Yet, the EU still has to hoard dollars to buy oil, making the Euro's power limited indeed.
Iraq switched to the Euro in 1999. Of course, America didn't take this seriously, since the Euro was relatively weak.
However, within two years the Euro was gaining on the dollar. Venezuela also has been thinking about making the switch. Now our government is scared.
Our government owes $12,000 per citizen of America. That's $12,000 times 280 million. Do the math! We haven't had to pay this, because our debt never reaches the bank. The world subsidizes us, and we keep printing more money for trading.
Now, what would happen if oil nations switched to the Euro? An almost overnight crash of our economy.
So, what to do?
Hmm...how about invade Iraq, force them back to trading oil for the dollar, and send a message to the rest of the world that the dollar is here to stay. To the optimists who say this war was for democracy and freedom, wake up. Our government put Saddam in power. In 1989, it gave him $1 billion in loan guarantees, when it knew he was gassing Kurds. Now we care about the Iraqi people?
Democracy? Please...what about the democratically elected leaders our government has killed? Lumumba and Allende come to mind. Democratically elected leaders overthrown? Does Bosch of the Dominican Republic, Ortega of Nicaragua, or Arbenz of Guatemala ring a bell?
We, the people, must stop the malfeasance of our government. We must demand justice, social equality, and true freedom, and do it now.
Matt Sharp
senior
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