- Jul 29, 2012
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Saudi (biggest oil produced in the world) sells oil in USD. That keeps the demand for USD high. The Fed can print all the money want and the USD inflation rate will still be low.
That's why the US didn't hesitate to help topple Gadafi and outright invade Iraq and kill Saddam.
Libya and Iraq has tons of oil. Both Saddam and Gadafi were planning to sell their nation's oil not with USD anymore. Gadafi planned to sell oil with a planned United States of Africa type of currency backed by Gold. Sadam changed or planned to change accepting euros instead kf USD for iraqi oil.
Keep in mind, first thing the US did is have Iraq sell oil in USD again after desert storm 2.
That's why the US didn't hesitate to help topple Gadafi and outright invade Iraq and kill Saddam.
Libya and Iraq has tons of oil. Both Saddam and Gadafi were planning to sell their nation's oil not with USD anymore. Gadafi planned to sell oil with a planned United States of Africa type of currency backed by Gold. Sadam changed or planned to change accepting euros instead kf USD for iraqi oil.
Keep in mind, first thing the US did is have Iraq sell oil in USD again after desert storm 2.