Author: kathaksungkathaksung Date: Jul 11, 2008 17:22
556. Petro-dollar, the cause of Iran war (7/4/08)
People think the nuclear ambition of Iran is the reason for Iran war.
That is only right on Israel's part. For US part, it is petro-dollar.
US dollar is appointed currency in oil trading. Because the oil trade
is a huge business, a large amount of dollar is locked up in that
trade. That money is called petro-dollar. Why it is so important to
US? Because it acts as a long term none interest loan The prosperous
US economy partly was based on the petro-dollar - a long term loan
without interest. Let me depict it in this way:
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