Threat of switch to Euro currency inspired war

BSU DAILY NEWS ^ | 4.18.03 | Matt Sharp

[Enemy Of The State]

Threat of switch to Euro currency inspired war

April 18, 2003

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

[John Valentine]

Ignorant booshwa.

They could denominate the price of oil in any currency they want, and it would make little difference.

Beyond that, there isn't any reason to think that the Euro's present relative strength against the dollar is anything but temporary. European monetary and fiscal policy is a shambles and getting worse. Within two years the Euro will be trading below 85 cents, anmd in ten years it will be nearing 50 cents.

It is inevitable, given the fact that the Euro is a transnational currency.

[hillary's_fat_a**]

A Ball State senior, ahem, I mean a BS senior? Didn't Letterman attend that school? Is this guy another comedian?

[AFPhys]

Idiot conspiracy theorist...

[Joe Bonforte]

So we fought a war to keep oil contracts denominated in dollars instead of euros.

Yeah, sure, and Jeff Gordon won the race last week because his car is a cool color.

Just to note one of the more egregious distortions here, Ortega was not overthrown by the US. He was voted out of office by his own people. Even doofus Jimmy Carter conceded that the election was fair.

[Guillermo]

I love the "The USA put Saddam in power" line...

[Dog Gone]

Now, what would happen if oil nations switched to the Euro? An almost overnight crash of our economy.

The oil nations all have their own currencies. And they don't set prices in dollars or anything else. They set production targets.

What a retard.

[dighton]

With understanding and treatment, this young man could eventually lead a useful and productive life.

[Friend of thunder]

Democratically elected leaders overthrown? Does … Ortega of Nicaragua … ring a bell? Since when does being defeated in an election constitute being overthrown?

[surely_you_jest]

Ah, to be young, and stupid, and have no future . . . .

[Jakarta ex-pat]

"Beyond that, there isn't any reason to think that the Euro's present relative strength against the dollar is anything but temporary. European monetary and fiscal policy is a shambles and getting worse. Within two years the Euro will be trading below 85 cents, anmd in ten years it will be nearing 50 cents."

Not so fast.

Britain will probably join (unfortunately). Don't forget, when the Irish chose no, they voted all over again.

Also, many countries are thinking of trading in Euros. The country I live in, Indonesia, is seriously contemplating this switch.

I hope I'm wrong.

Keep smiling,

Philip.

[JZoback]

Matt Sharp

Not very.

He needs the back end (knife sharpener) of my electric can opener for a little work.

.........and to think his parents paid good money for 4 years to educate him. They should ask for a refund

[skinner]

Just before the troops went in, a talk show host - Gene Burns of KGO 81 San Francisco, and a man who ran for the Presidency as a liberterian about 20 years ago - had some fella' on who wrote an article about just this topic.
This didn't come from the psycotic mind of Mr. Sharp, but is another tin-foil story circulating in and amongst the Bush hating crowd.

[cynicom]

So what currency was that the soldiers found in Iraq??? There was not a Euro there, all greenbacks. Saddam was not stupid.

[Nubbytwanger]

"Fat, drunk and stupid is no way to go through life, son"

Dean Wormer

[putupon]

BSU? OK

[arkfreepdom]

The Euro is now probably at the highest exchange rate with the dollar it ever will be. We are in economic downturn and there largest economy is tanking, Germany. Not to mention 10% unemployment in many EU countries and virtually zero job growth in Europe for decades. I like our chances better than there's.

[Freebird Forever]

This is not an origional thesis.

Sites like rense.com have been putting forth this idea for months now.

[Enemy Of The State]

Well, apparently Mr. Matt (not so) Sharp is not only an idiot, but he appears to be an idiot that copies material from other idiots!

 

I just noticed this post on the forum where this "article" was located.

 

"Dear Mr. Sharp,
For your edification/education please read http://www.2000wave.com/article.asp?id=mwo032803.
Oh, and when you quote or paraphrase information
from other printed material, even in a letter to
an editor, it is appropriate to cite said info.

mdf
teacher"

[Enemy Of The State]

Thanks! See post above.