
Traditional Currency War: Invasion of Iraq
The “.com” economic bubble began to burst in the United
States in April 2000, followed by the terrorist attacks in
September 11, 2001.
As pressure mounted for the dollar to fall, the euro
appreciated to its highest level since its inception, resulting in
further money outflow from the United States.
Control of Middle East oil means control of oil price. EU
nations import over 60%of their energy consumption, with
dependence on foreign oil reaching 80% to 90%.
Germany’s rely on foreign oil is at 98%, the highest of all.
The idea is to blow consumer confidence in the Eurozone by
waging wars. As geographically, the Middle East is far from
mainland United States but close to Europe.
Burden EU nations with the cost of Iraqi post-war construction.
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