Iran Proposes Nuclear Destruction of the Dollar
All the hoopla, posturing, saber-rattling and rhetoric about Iran and their nuclear threat to the world is smoke. Europe weighs in on the side of moderation, because Europe wants no easy excuse for America to attack Iran. More smoke.
The fire the Bush administration is trying to prevent is Iran’s pledge to create an Oil Bourse, based not on the dollar, as all world oil is sold, but the euro. If that is allowed to happen, the dollar will tank, I mean really tank and the likelihood of American default on its debt is huge, probably unavoidable.
A little history. Krassimir Petrov history. A nation-state taxes its own citizens, while an empire taxes other nation-states, explains Petrov, authoring an article titled “The Proposed Iranian Oil Bourse.” The United States had never been an empire, until 1971, when it pulled off a very special sort of coup against the rest of the world. We still don't think of ourselves in those terms. Foreign governments, demanding their loans to America be repai…