Saddam Hussein's Execution and the Euro Dollar War Part 1
Copyright 1994 - 2018 Bill's Bible Basics

Authored By  :
Bill Kochman

Published On :
January 4, 2007

Last Updated :
February 20, 2012


Execution Of Saddam Hussein, Theories Why Bush Attacked Iraq, Coming New World Order, An International Financial Crisis?, U.S. Dollar Is Fiat Money, Gold And Bretton Woods Agreements, The American - Saudi Arabia Deal, 9-11 And The Saudis Excused, Who Would Be The Losers?, Oil - Dollar Connection, Euro Rises, al-Qaeda's Goal, Iranian Oil Bourse, America Crushed By Euro, European SuperState, Beast Ten Horns, Euro-American Trade War, Kyoto Protocol, Prof Krassimir Petrov, America Demonizes Iran, WMD Wild Card, Fear And Paranoia Tactics, America Attacks Iraq, Gutless United Nations, Bush And America's Belligerent Attitude, George W. Bush Out Of Control, Will America Attack Iran Next?




Allow me to begin this article by sharing a profound truth which you will hopefully begin to realize yourself, -- if you haven't already done so -- by the time that you have finished reading this commentary. Things are never what they seem; especially when it comes to the machinations of the American Government. Some of the things that I have discovered while conducting research for this article, have left me awed and dismayed. They have also left me feeling a bit angry; angry at a manipulative government which has insulted both my and your intelligence, by feeding us lies, because it obviously feels that we are not worthy of the truth. It has not done this one time, but many times, for many years. It is a chronic condition.

As I pen these lines, it was only five days ago that former Iraqi dictator, Saddam Hussein, met his death in a hastily arranged execution, by hanging, for horrible crimes against his own people. While we could delve into the moral issues related to this historic event, i.e., the morality of capital punishment, and the questionable decisions which resulted in his unexpected, sudden demise, that is not the main focus of this article; thus, I will forego discussing it for now. At the current time, the sovereign nation of Iraq finds itself embroiled in a violent, extremely bloody, brutal conflict, which many people, myself included, believe has deteriorated into a full-scale civil war between the Shi'ite and Sunni Muslims of that nation. This development is a tragic result of the unfounded, illegal, poorly-conceived invasion and war, planned and executed by President George W. Bush, and his American co-conspirators.

For more than three years now, similar to other researchers and writers, I have been offering my personal views on our Christian mailing list, as well as in my articles, regarding why the decision was made to attack and invade Iraq. Some of my views can be found in my four-part series "The Capture Of Saddam Hussein And The New Babylon". Some of you are already familiar with some, most or perhaps all of the theories that have been put forth by myself, and others. For those of you who aren't familiar with them, allow me to list some of the more popular positions which have been discussed to varying degrees:

1. George W. Bush wanted to remove Saddam Hussein's capacity to further produce WMD -- Weapons of Mass Destruction -- and to destroy those which the Bush Administration alleged were already in existence; thus, in Bush's words, preventing a "nuclear mushroom" from ever occurring over America.

2. George W. Bush believed that Saddam Hussein had ties to, and may have been secretly working with al-Qaeda terrorists; thus, attacking Iraq was an extension of the so-called "war against terrorism", which had begun in Afghanistan.

3. George W. Bush wanted to secure control of the Iraqi oil fields which are vital to the American economy, and America's supremacy as a superpower in the world.

4. George W. Bush wanted to avenge the threat that Saddam Hussein had made against his father, George H. W. Bush, and to finish the job that his father had begun during the Gulf War of the early 1990's.

5. George W. Bush wanted to contain Saddam Hussein, as had been done during the Gulf War, and prevent him from upsetting the status quo which has existed in the Middle East.

6. George W. Bush wanted to establish an American military presence in Iraq for a variety of reasons which would all be advantageous to the United States; such as:

  a. to exert pressure on Iran and keep it under control.
  b. to exert more pressure on Russia and China.
  c. to establish another listening post close to Russia.
  d. to protect oil interests in the Gulf Cooperation Council nations-states-sheikdoms.
  e. to better protect Israel.

7. George W. Bush wanted to free the Iraqis from Saddam Hussein's cruel grip, and to establish an Arab democracy the Middle East, which would serve as an example to other Arab nations, and hopefully, bring about positive social changes in those nations as well.

With the exception of the WMD argument, which has now been proven to be false in many people's minds, I think that most of the aforementioned theories have merit to some degree or another; but I don't think it would be wise to try to assign a specific value to each of the arguments. As one wise man once said, "A man convinced against his will, is of the same opinion still". Perhaps what we need to ask ourselves, is if these are truly all of the possible reasons why George Bush and his staff made the decision to invade and attack Iraq. As a result of our own preconceived ideas, is it possible that we might be overlooking something? Speaking for myself, I can now say, to my own dismay, that I did in fact miss something. The reason why I overlooked it, is because I was not aware of certain facts, which have now been brought to my attention.

Having said that, allow me to share with you exactly how I arrived at this new understanding regarding the war in Iraq, the Iranian threat, and related issues. I believe that you will find it rather interesting.

For quite some time now, many months in fact, I've been busy, quietly working on a much-expanded, updated version of my old article "Nature of the Alien". It is far from finished, but I can tell you that it is turning into a very informative and in-depth series, which you'll find to be a major improvement over the original version written about ten years ago. One of the topics which I discuss in the new and improved "Nature Of the Alien" series, is the coming New World Order -- or One World Government, if you prefer -- and the possible events which may spawn and herald its arrival. To many of you, this topic is nothing new; and it is something which I amply talk about in a number of my other articles.

One idea which I, and many other writers have considered, is that the coming "New World Order" may be precipitated by an international crisis. One kind of crisis which has a lot of potential for creating the necessary conditions to usher in a New World Order, is a worldwide financial meltdown. It is a well-known fact, at least with those who study such topics, that a number of national and international financial crashes have been barely averted over the years, as a result of the implementation of certain stop-gap measures. While some of you may not be aware of it, the financial state of the world today is like a house built upon stilts. One of these days, a great flood is going to arrive, which that house simply will not be able to withstand, no matter how many stilts, or stop-gap measures, are used to try to prop it up.

Part of the problem, is that currently, and for a long time now, the full weight of the international financial system has been standing upon one stilt; and that stilt is already weakening, and is in danger of collapsing, as many financial experts already know. I am referring to the American dollar. For over three decades now, as a result of crafty financial manipulation by the U.S. Government, the countries of the world have been pressured into purchasing their much-needed oil reserves in U.S. dollars. This, of course, is extremely advantageous to America, as it props up, or inflates, the value of the American dollar, even though, in reality, the dollar is just about worthless now as a currency.

As I have explained before, the American dollar is what is referred to as "fiat money". It has no real value other than the faith that people place in it, and in the word of their government; because there aren't any actual silver or gold reserves to back it up. It is only worth something because the U.S. Government has declared it, or decreed it -- a fiat -- legal tender. Unlike decades ago, you cannot go down to your local bank and demand a pile of gold for your stack of money. They'll look at you oddly; believe me.

This development came about as a result of conditions which existed following the 1930 Great Depression. With so much money in circulation, the U.S. Government couldn't possibly back it all with actual gold reserves; it was non-existent. So, in 1932, U.S. President Roosevelt took the dollar off of the gold standard, at least as far as the national economy was concerned. However, the governments of foreign countries could still have their dollars converted back into gold by the US Government, if they so demanded it. This arrangement was a result of the Bretton Woods Agreements, which were agreed upon and signed by forty-four Allied nations at the United Nations Monetary And Financial Conference, which was held at Bretton Woods, New Hampshire in 1944. Known as the Bretton Woods System, it helped to establish the dollar as the currency reserve of the world, and gave it tremendous purchasing power. What also occurred at that time, was the creation of the World Bank, and the International Monetary Fund, which just so happen to be U.S. controlled.

However, in less than thirty years, the American economy had reached a critical stage, as the American Government was no longer able to convert U.S. dollars back into actual gold for the foreign nations that demanded it. In other words, it defaulted on its payments, and was essentially bankrupt. As a result, the Bretton Woods System collapsed. Maybe the US economy itself would have collapsed as well, except for one thing. In 1972-1973, during the Nixon Administration, the U.S. Government took a decisive step which would ensure that the U.S. dollar would remain the world's currency reserve; even though foreign nations realized that they were being forced to accept bogus "fiat money". Exactly what was that step? America made an economically-shrewd deal with Saudi Arabia, whereby Saudi Arabia would only accept American dollars for its oil. In exchange, the U.S. Government would support the al-Saud dynasty, which it has been doing ever since.

As a side note, for those of you who may not be students of history, it may interest you to know that Saudi Arabia hasn't always been called Saudi Arabia. For literally thousands of years, the peninsula was simply known as Arabia. It was only in recent times --1932 -- when the al-Saud family came into power there, by joining the regions of Najd and Hejaz, that it acquired the name of the Kingdom of Saudi Arabia. But the point is, it has been this mutual deal between the United States of America and the al-Saud family, which has directly resulted in the U.S.A. maintaining its financial dominance in the world, has kept wasteful America supplied with most of the oil products that she requires, and has also kept the al-Saud family in power for so many decades, in spite of its corruption. In fact, it is because of the corruption within the Royal Family, that Osama bin Laden gained a following.

There is a lot more to this intriguing story, such as the ties which are said to exist between the oil-oriented Bush family, the al-Saud clan, and the bin Laden construction empire; but I'll leave it up to you to do some research of your own. You may be rather surprised by some of the things that you discover. You may even form some theories of your own concerning why, after more than five years, the Bush administration has still been unable to find or capture its number one enemy, Osama bin Laden. Do they really want to?

Are you starting to get the full picture? Is it possible that this US-Saudi deal, forged back in the early 70's, is the primary reason why the United States of America has never really pursued the Saudis since the tragic events of September 11, 2001, even though fifteen of the nineteen alleged hijackers were in possession of Saudi passports? This burning question remains to be answered. Exactly who was sending a message to who? It may not be what we think.

Perhaps the answer to these questions can be found by asking another related question. For example, if the Americans went after the Saudis, and the Saudis withdrew their support for the American dollar, who would be the real losers, and who would suffer the most if the world lost faith in the dollar and no longer supported it? At any rate, once Saudi Arabia accepted the American deal, other OPEC nations began to do the same, thus strengthening the American dollar even more. With each passing year, the world's need for oil has only grown greater. At the same time, the price of oil has also continued to increase to record levels. What is the result of this? The need for more oil equates to the need to keep more American dollars in reserve, in order to purchase it.

So it is all about supply and demand. Because there is such a great demand for American dollars, because everyone must buy their oil in dollars, the value of the dollar is artificially inflated and sustained. Even though the U.S.A. is essentially bankrupt, and also the greatest debtor nation on the face of the Earth, the financial game continues, because everyone is forced to buy their oil with dollars. But what if that were to suddenly change, and the U.S. dollar lost its purchasing power? That is precisely what has begun to happen. Although it had a shaky start, the Euro has been gradually gaining in power and financial strength; and it now offers a viable alternative to the U.S. dollar; and you can bet that this development has officials in the USA worried. What is also worrisome to American financiers, is that some OPEC nations have begun to accept Euros for oil purchases.

As you may already know, several years ago, al-Qaeda, and its Arab/Muslim supporters adopted the strategy to destroy the United States by bringing about its financial collapse. Blowing up people and buildings is not going to make this happen, no matter how valuable they may be. Such terrorist activities, regardless of who is really behind them, will cause hiccups in the financial system, and they may reduce national morale -- or do the exact opposite -- but bombing buildings will not result in the collapse of the American financial empire. However, if these Muslim/Arab conspirators can reduce the worldwide need, as well as the demand, for US dollars, with time, that most certainly could have a drastic effect on the American economy.

To this end, in 2005, Iran began an initiative which, if successful, would ultimately convert the global economy from its current dollar base, to a Euro base. Referred to as the IOB, or Iranian Oil Bourse, it's essentially an oil exchange, or oil stock market, which will be based upon the Euro, and not on the American dollar. The proposed location for this exchange is the island of Kish, located in the Persian Gulf. The Iranian Oil Bourse had been projected to open sometime in 2006, but certain bureaucratic issues within the Iranian Government have caused it to be delayed. However, these delays don't mean that it isn't going to happen. In fact, a news article posted on the Bloomberg website in December of 2006 makes it very plain that Iran has full intentions of going ahead with the bourse, and plans to cut the American dollar out of the picture. That article states in part:

----- Begin Quotes -----

"Iran, the world's fourth-largest oil exporter, plans to reduce its use of the U.S. dollar in world trade and increase use of the euro, two Tehran-based newspapers reported."

"The Tehran Times said today Iran has started substituting euros for dollars in oil sales, citing an unidentified person at the Oil Ministry. Iran Daily reported Iran wants to cut its dollar-based transactions to a minimum, citing Minister of Economy Davoud Danesh-Ja'fari."

". . . The dollar touched a 20-month low against the euro this week, and central banks in the Middle East including the United Arab Emirates have plans to convert some of their dollar reserves into euros."

"Exporting nations 'are only holding so many dollars because of all the trade in the currency, but if the trend begins to move out of it, then it's going to be a positive for the euro and add to the negative sentiment on the dollar,' said David Mann, a foreign-exchange strategist at Standard Chartered Bank Plc in Hong Kong."

"Iran has repeatedly said it would limit dollar-based transactions following the U.S. decision in September to block one of Iran's biggest state-owned lenders from doing business with the U.S."

----- End Quotes -----

Please notice, that as of last month -- December, 2006 -- the U.S. dollar had already reached a twenty-month low against the Euro. What is going to happen once the Iranian Oil Bourse is moving at full speed ahead, and more countries begin to exchange their dollars for Euros, in order to purchase their oil from OPEC nations who join the Iranian Oil Bourse?

My friends, if Iran succeeds at this, and other oil-producing Arab/Muslim nations follow suit, and the Euro becomes the new currency reserve of the world, because oil-consuming nations will be forced to purchase their oil reserves in Euros, this development is going to be considerably more explosive, and much more damaging in a political and economic sense, to the United States of America, than the airliners that flew into the World Trade Center over five years ago. Please understand that I'm by no means attempting to belittle the tragic events that befell America that day in September; I am simply trying to help you to understand that the success of the Iranian Oil Bourse could have profound effects on the life of every single American citizen, and could even be the catalyst that reduces the United States of America to a minor power in the world. It probably won't happen overnight, but it could happen. Once a financial slide begins to occur, it is difficult to stop. It is just like a row of dominoes, with each country that rejects the U.S. dollar, being represented by one of those dominoes.

I don't think I need to go into detail regarding what would happen within the United States itself if the dollar were to suddenly lose its purchasing power. I'm sure you can imagine how such a development would affect the American financial system, how it would affect the job market, or how it would affect the average American's ability to place food on their table, pay their rent and utilities, or take care of other financial responsibilities. Law and order could quickly be replaced by chaos and anarchy. Remember the L.A. riots? Many Americans are used to a life of ease and comfort; at least when compared to the rest of the people in the world. Even some of America's poor people are considered middle class in some other countries. But the point is, when Americans lose their comfort items, they have a propensity for becoming rather irritable; and sometimes irrational and violent. Of course, if this were to happen, it would give the American Government justification to declare martial law and call out the troops. I'll leave the rest to your imagination.

But this is not all. If a Euro-based economy were to evolve from the Iranian initiative, resulting in the collapse of the American Empire, what would it mean for the rest of the world, particularly Europe? To me, the answer seems obvious. The European Union might indeed become a SuperState, and the next world superpower, as a result of the impetus it would receive from the sudden strengthening of the Euro. In short, it would become the new master of the house, with Arab help. For a number of years now, certain Bible scholars have been promoting the belief that the European SuperState will be the "womb" from which the Endtime Beast and Ten Horns will arise, as prophesied in the Bible. While I personally do not fully embrace this view, at least not yet, the arrival of such a SuperState would certainly give their view more credibility.

As you may already know, particularly if you've participated on our Christian mailing list in recent years, for some time now, I've been pointing out the friction that exists between the United States and the European Union. Contrary to what some people may think, the situation is not exactly cordial and rosy. America and Europe have had a considerable number of spats in recent years. Some of these disagreements have been financially oriented. These are the most dangerous kind, since wars are quite often started over trade disagreements. Other Euro-American disputes have been a result of the pushy, belligerent, adamant attitude which has been adopted by the Bush Administration. A case in point is the Kyoto Protocol. It is common knowledge that the failure of this initiative to fully materialize in a timely manner, was in large part a result of the fact that the U.S. Congress has never ratified it. Ironically, the United States happens to be the largest polluter in the entire world, as well as the most wasteful nation.

But returning to our central issue, as I was conducting some online research for the "Nature Of The Alien" series, I came across a very enlightening article that provided a new piece of the puzzle for me. In fact, it also helped me to connect together certain events which we have all witnessed over the past six years. Authored by one Professor Krassimir Petrov in January 2006, the article is called "The Proposed Iranian Oil Bourse". According to online sources, Professor Petrov is an Austrian-born Macro Economist/Investment Strategist. He received his Ph. D. in Economics from Ohio State University in the U.S.A., and now resides in Bulgaria, where he teaches Macroeconomics, International Finance, and Econometrics at the American University.

Before I share with you the piece of information which helped me to better understand what is happening in the Middle East, and why it is happening, allow me to backtrack just a bit and impart some other information, which is directly related to our discussion; and which in fact will help to confirm what I am about to tell you. As my regular readers know, for quite a few months now, even before it became such a large issue with so many writers, I have been telling my small audience that the U.S.A. was laying plans, in a psychological sense, as well as in a military sense, for a potential war against Iran. I have stated a number of times before that a country cannot legitimately go to war, until it has psychologically prepared its citizens for that war, and won their support.

The minute that Bush began demonizing Iran in his State Of the Union Address in January of 2002, with his talk of the so-called "Axis of Evil", comprised, according to Bush, of Iraq, Iran and North Korea, I began to suspect where he was headed. You didn't have to be a rocket scientist to see the proverbial writing on the wall. Month after month, as Bush and his war gang continued to psychologically manipulate the American public, and began to employ their ever-so-faithful wild card -- the WMD issue -- I became even more convinced of what Bush was up to.

In fact, as some of you may recall, I sat here dismayed, and couldn't believe that Bush had the audacity to play the very same card again, in order to pull the wool over the eyes of the American people once more. But, it really shouldn't come as a surprise to any of us. As I explain in my "Capture Of Saddam Hussein" series, that tactic certainly worked in the case of the war in Iraq. Bush, Cheney, Rumsfeld, Powell and company repeatedly hit the American citizenry so hard with their fear and paranoia tactics -- such as with the infamous "mushroom cloud" over America speech -- that eventually, a substantial portion of American citizens were seeing things Bush's way, and lent their support for his illegal war in Iraq. With Powell as a spokesman, the Bush Administration tried to sell the same WMD ticket to the United Nations, but they saw through the smoke, and were very reluctant to hop onto the "Let's-Get-Saddam-Hussein" bandwagon.

Sadly, as history will record, in the end, the United Nations proved what a powerless, gutless, ineffective body it really is, and turned a blind eye, as the bully U.S.A., along with ever-so-faithful Great Britain, led by Tony Blair, magically created their "coalition of the willing", and then attacked Iraq. As I told our readers in April of 2003, even though the United States was unable to muster up enough support in the U.N. to get the required nine Security Council votes that was needed in order to get the second resolution on Iraq passed, and even though U.N. Secretary-General Kofi Annan begged the U.S. to give the U.N. inspectors more time, they still chose to attack Iraq, based upon mere speculations, and unproven allegations.

For its part, the United Nations went through the motions of pretending to have done all that it could to stop the United States from attacking Iraq, and then it stood helplessly by, wringing its hands, as the invasion and war began. The U.S. knew that the second resolution was doomed; and that is why in a March 4, 2003 CNN news report, Ari Fleischer, who was at that time the White House's Press Secretary, shared the following comments, in which he let it be known, that the U.N. resolution was now a moot point, and that the U.S.A. was going to do what it wanted to do, regardless of what anyone else thought about it:

----- Begin Quote -----

"The president has said he believes that a vote is desirable. It is not mandatory . . . The president has made clear the outcome, whether the United Nations votes or does not vote, [is] that we will disarm Saddam Hussein with a coalition of the willing."

----- End Quote -----

So to reiterate my point, the truth of the matter is that the United States knew beforehand that it hadn't garnered enough support to secure the vote. Russia's Foreign Minister, Igor Ivanov, had already informed the mass media that Moscow would oppose the new resolution, and that it would use its veto power as a permanent member of the U.N. Security Council, if it became necessary. In the aforementioned CNN news article, Ivanov states:

----- Begin Quote -----

"Russia has this right, and if the situation so demands, Russia will of course use its right of veto -- as an extreme measure -- to avoid the worst development of the situation,"

----- End Quote -----

So as you can see, in reality, the Bush Administration has no respect whatsoever for the opinion of the United Nations. It has displayed this same arrogant attitude many times; while at the same time, it ceaselessly promotes the importance of respecting the rule of law. However, when those laws are in conflict with what the United States wants to do, it chooses to ignore them, proving that it hypocritically lives by a double standard.

The rest, as they say, is history; a very tragic history, as we continue to witness the ugly events transpiring in Iraq to this very day. Well, we know how a lot of Americans must feel now, over three years later, with over three thousand American soldiers dead, and no certain victory in sight in Iraq. They let their voices be heard in the recent November 2006 elections; not that it will have much bearing on what George W. Bush will do during his final two years in office. Rather than disengage from Iraq, as so many Americans have desired, it appears that Mr. Bush has stomped on their vote, worked his "magic" once more, bullied his way through, and convinced the necessary people that close to 20,000, if not more, additional American troops need to be deployed to that war-torn nation. Short of impeachment, it seems that George Bush has become immune to the will of the American people.

But the main point I which to emphasize here, is that Bush is doing it again; but this time with Iran. For months now, we have watched as the verbal battle has heated up to a fevered pitch. Over and over, American citizens have been told what a dangerous threat Iran will become, if it is permitted to join the nuclear club. Conservative Christians have particularly been the target of Bush's strategy, and are reminded of the serious dangers that Israel would face from a nuclear-armed Iran. Doesn't that sales pitch sound familiar? Wasn't Saddam Hussein painted in the very same light? And how did that WMD fairy-tale turn out? While it is indeed true that Iran hasn't been exactly transparent in its dealings with the U.N. and the International Atomic Energy Agency, the fact is, that to this day, no one has been able to conclusively prove that Iran is determined to manufacture nuclear weapons.

I honestly don't know what Iran's intentions are. Publicly, Iran's president, Mahmoud Ahmadinejad, has denied that his country has any nuclear ambitions whatsoever. He has also made it clear that, based upon the tenets of the Nuclear Non-Proliferation Treaty, his nation has every right in the world to enrich uranium, in order to meet its electricity needs. At the same time, I do know that it is both immoral and unethical, and in contradiction of international norms of behavior, to base a war on mere speculations alone, as occurred when the U.S.A. attacked Iraq. Will Americans allow it to happen again with Iran?

Please go to part two for the continuation of this series.

⇒ Go To The Next Part . . .


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