He should thank God for Islamist terrorism, for otherwise he would not have the perfect reason for toppling countries that either go off the dollar standard or threaten to do so.
Saddam did in 2000, when he asked the UN and was granted permission to do all his oil sales under the "food for oil" program in euro instead of dollars. Look what happened to him.
In August of 2002, Iran has made similar noises and has converted more than half of its forex reserves from dollars to euros - and look at whose doorstep we are after taking Saddam out of the picture? I haven't heard the Iranians talk about switching to euro ever since.
Few poeple realize how big a threat the euro is to the US and its dollar.
1. Russia and China's central banks have begun to sell dollars and stock up on euros instead for their monetary reserves.
2. Malaysia and Indonesia, both oil produicers and OPEC members,have voewd to do the same.
3. Then-OPEC chief, Javad Yarjani, (he may still be) gave a speech at a Seminar in Spain on the International Role of the Euro on April 14, 2002. During that speech he presented a virtual "how to" lesson in what the OPEC countries expect from the Euro nations before they would "convert" to euro for all of their oil transactions.
If OPEC goes euro, other western nations will have no reason to hold much in terms of dollars anymore. They'll buy euros instead to buy oil from the Arabs.
Having taken Iraq, the US forces now sit smack dead in the middle of OPEC land, next door to Saudi Arabia, Iran, and the gulf emirates. One more "euro" noise from them and they will have a US liberation force in their country as well.
Not that terrorism isn't real, or that the danger isn't real, nor that we shouldn't defend ourselves. But there are whales swimming under the surface, and we see only ripples. Those whales have the euro sign written all over them.
Research "euro vs dollar" on the net. This stuff will "guide" US Policy decisions from now on until the euro is no longer a threat, or until the US is an economic superpower no more.
Problem is, the dollar is essentially deefenseless. Only military intervention can stop the trend - which Bush has apparently understood completely.
Question: How long can we keep that up?
EW
DOHA, Qatar (Reuters) - OPEC cannot permit Iraq to attend meetings of the cartel while Baghdad remains under the rule of an occupying U.S.-led authority, oil ministers said Wednesday.
"We cannot have relations with Iraq until there is an internationally recognized government, that is a consensus," said Venezuelan Oil Minister Rafael Ramirez.
"This does not mean we do not want Iraq in the organization. We do want Iraq in OPEC and we think Iraq will want to stay in OPEC because they will need a reasonable price for oil," he said.