create new account | forgot password
Iraq War: The Most Mysterious In Modern History
posted by dennisn on May 8th, 2021 at 4:09PM
"In October 2000, Saddam Hussein attempted to alter the petrodollar system when he announced that Iraq would sell oil in euros, not dollars. By February 2003, he had sold 3.3 billion barrels of oil for 26 billion euros. With his French and German trading partners, the “petroeuro” was born, which if expanded would help a euro market develop against lots of other currencies, boosting the euro’s strength and eroding the dollar’s exorbitant privilege. But one month later, the U.S., aided by the United Kingdom, invaded Iraq and overthrew Saddam. By June, Iraq was back to selling oil in dollars again."