The government of Syria announced they were going to begin using euros for all their major international transactions on Monday

The government of Syria announced they were going to begin using euros for all their major

international transactions on Monday.

There is disagreement among experts as to whether or not these moves by the last “rouge states” are

really enough to disrupt the dollar’s supremacy. For example, NIKE SHOX regular contributor and

Assistant Secretary of the Treasury under Ronald Reagan, Paul Craig Roberts, wrote to AWC director Eric

Garris last weekend that he thought it unlikely:

“Oil is billed in dollars because the dollar is the world reserve currency. The dollar is not the

reserve currency because oil is billed in dollars. The US is abusing the dollar’s role as reserve

currency. When a trusted alternative appears, the dollar is likely to lose its reserve currency role.

Iran, however, cannot cause that transition.”

Perhaps the real question is not whether Iran can cause the transition, but whether American

politicians will let a major oil producing country set a bad example in front of the others. The real

trouble for our criminal politicians is that, as PCR notes, “Today, US war-making capability is

dependent on the rest of the world to finance it.”