Collapsing Economy

(Apparently I am on a roll)

Ok, so as you all know, or should know, the war in Iraq is based solely on oil and oil production.

The main reason for taking over Iraq was to gain control of one of the largest known oil reserves in the world.

I had this idea a few years ago when the war was building and others have had the same ideas around that time. It is mainly about the declining value of the dollar against the euro.

Currently, most of the oil bought in the world is bought with US dollars. It is the simple fact alone that gives rise to all the evil things that are happening over in the Middle East.

Saddam Hussein changed the purchase of oil from dollar to euros in 2002, not long before the whole WMD thing started occurring. Iran has also threatened to change it's large oil reserve to euro backed oil as well. North Korea has already done so.

Do those 3 sounds familiar? They are affectionately known as the "Axis of Evil".

With the rise of the euro against the dollar and that OPEC has made overtures to switch from dollars to euros for the sale of oil, the Bushites needed to take a military and economic position on the oil reserve in Iraq. It is intended to prevent the collapse of the US economy if the switch to the euro is ever to take place.

The Bushites are trying to topple OPEC and its price controls by flooding the oil market with "free" oil that it gets from the puppet government that has been installed in Iraq.

There are two critical errors that Bush and his neocons have made.

First, by pressuring OPEC into raising prices above $50 a barrel (as it stands now) with its military occupation of Iraq, OPEC for its own protection will most likely switch to the euro. Another reason this will happen is that most European nations really hate the US foreign policy (much more than ever before) but now have the economic strength to do something about it, if it so desires.

The second mistake is that by keeping the dollar in a "weak" position, even though they say otherwise, it will actually force the hand of OPEC and force them to take the euro.

As a side note, Venezuela, an oil producing country and member of OPEC, has already made overtures to change to the euro by itself, and hence the CIA-backed failed coup attempt of the government.

Needless to say, if you are smart, start changing your wealth to the euro in anticipation of this collapse.

Most likely, if Bush decides to attack another Middle East country, say, oh I don't know, Iran, the repercussions will result in an economic collapse much worse than the Great Depression.

My prediction, barring full scale war between the US and Europe/Russia/China, will be the collapse of the US economy within the next two years. Once oil prices reach $55/barrel OPEC will have to change over to the euro.

Some articles to look at:
http://goldmoney.com/en/commentary/2004-02-18.html
http://www.cpa.org.au/garchve03/1127currency.html