Continued from page 1
By launching
new euro in 1999,
EU challenged
US in an indirect manner by offering
world an alternative currency to do business in. Although a rapid transition from dollars to euro would be a disaster for virtually every economy in
world, and not even
Europeans would desire such a sudden change, a gradual transition was possible, and perfectly feasible, in
long run.
Taking into consideration
possible consequences of
EU's euro challenge for
future of
US, it would be too naive to assume that
economic rivalary between
dollar and
euro would take place without any friction or conflict of interests. The influencial players that have a tremendous effect on
outcome of this economic game of chess are
oil and natural gas exporting countries. As early as November 2000, Iraq became
first oil producing country to switch from dollars to euro, and hence, also became
first to experience
wrath of
US military might. Analysts all over
world recognized that such a disobediance to American hegemony would be severly punished. It would be illogical to assume that
US would simply tolerate Saddam’s decision and would risk
possibility of an economic disaster. Allowing Iraq to switch from dolars to euros would send a clear message to
other oil producing economies and that would create a domino effect.
It is certainly not a coincidence that
Russian leader Vladimir Putin has annouced
"possibility" of selling Russian oil for euros, while Iran has been actively working on
establishment of a new trading market in France for
OPEC and Middle Eastern producers, which could potentially end
dominance that London’s International Petroleum Exchange and New York’s NYMEX currently enjoy.
As
dollar is no longer a stable currency with its more reliable alternative in euro, one can easily see why
“War On Terror” is nothing but a catchy phrase designed to fool
public. The world is on
verge of adopting a new, and perhaps healthier financial structure, and needs to decide how
transition from
old order to
new one will take place. Regardless of what we are being fed by
mainstream media, there is a rather different reality under
appearances, and what is happening in
world today has nothing to do with Islamic terrorism or jihad.
Don’t believe
hype!

Istanbul, TURKEY