1,670 views

Watch
- Search Videos
  
  Advanced search »
- Submit a New Video
Discuss
About
- Try clicking on the various channels to see videos posted to that channel - if you're into music you can click the Music channel to get more music sifts - go on and explore! Use the "hotness" when you have opened the channel link to get videos that have gotten a lot of votes, or use "newness" to have a look at the new sifts.
  When browsing sifts you like, have a look at the Related Posts list to see other related videos, click the tags under the video title to see more sifts tagged with the same tags or have a look at other sifts from the same user in the More Posts By list. If the sifted video is in a play list, have a look at the play list to see other interesting videos the Sift users have linked together.
  Enter the Sift Lounge to chat with online sifters about anything and everything, or read interesting posts in the Sift Talk forum.
  The Top New Videos list is always full of interesting, current videos. It is always recommended that you have a look through the Top New Videos, but also have a look at these:
  - Upcoming Unsifted Videos - active video submissions that neither are published to the front page nor archived to the submitter's personal queue
- Have you seen a really funny, surprising, scary, interesting, cute or in any other way extra good quality video?
  Post and share it here - VideoSift is the best video aggregator on the Web, where we share, discuss, promote, and interact with the best videos out there on the web. Post it here, and share it with the large community of video-interested users. And - you are guaranteed to find more very good videos here already!
  Mind you, we only share videos you discover that someone else has made; if you "self link," by posting a video you have made, have posted or have interests in, you risk the ban hammer - read the posting guidelines before posting. The sift is NOT for promoting your own videos - it is for sharing videos others have made.
  Submit a Video Now »
Login

Video Flagged Dead

The Petro Dollar,Iraq's Oil, and the Bush Administration

submitted by bl968

1 decade 7 years 5 months 2 weeks ago

The problem with Saddam was that he decided to make extra money by simply trading his oil in euros. Sound like a pointless threat? Well it wasn't. A switch to the Euro by oil producing nations would mean the US could no longer grow the deficit, and if the rest of the world thought that the US couldn’t pay back the debt already owed, and began withdrawing funds from US banks, it would effectively enter the US into a depression worse than any it has ever experienced. In a matter of hours the peso would be worth more than the “almighty” dollar.

This frightening financial vulnerability of the United Sates is the reason why it maintains an army larger than the second 7th largest armies combined. It is also the reason why we are on a collision course with Iran, which has threatened to switch to the euro if it is made to come before the Security Council. As stated by U.S. Congressman Ron Paul, “The dollar-oil relationship has to be maintained to keep the dollar as a preeminent currency. Any attack on this relationship will be forcefully challenged as it already has been."

Read the rest of this article at http://www.thedelphian.com/62-05/1773