Saturday, March 9, 2013

The PetroDollar

The theory being presented here is that the USA went to war in Iraq in order to secure its dollar as the reserve currency.

If that's true, it's really dumb policy. In the USA's own labs, it proved the concept of molten salt reactors which could use thorium, which is nearly inexhaustible in quantity. Basing an economy upon trading in petrodollars is really stupid and dangerous.

Instead of importing trillions of dollars of oil, it could have exported the equivalent amount in the new technology.  It need not have spent treasure and blood to defend that which was not necessary, and was in fact, contrary to its own interests.

The left cannot escape responsibility.  This was a bipartisan stupidity, if it is indeed the case.




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