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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!