I don't fully understand the in's and out's of International monetary exchange, but it seems to me that the American administration is shit scared.
NOT of 'terrorists' with guns and nukes, but of so-called 'rogue' States who are threatening to change the "petrodollars" from U.S. Dollars to Euros.
Backtracking a bit - these quotes are from a long and informative essay.
"Saddam sealed his fate when he decided to switch to the euro in late 2000 (and later converted his $10 billion reserve fund at the U.N. to euros) -- at that point, another manufactured Gulf War become inevitable under Bush II. Only the most extreme circumstances could possibly stop that now and I strongly doubt anything can -- short of Saddam getting replaced with a pliant regime.
"Big Picture Perspective: Everything else aside from the reserve currency and the Saudi/Iran oil issues (i.e. domestic political issues and international criticism) is peripheral and of marginal consequence to this administration. Further, the dollar-euro threat is powerful enough that they will rather risk much of the economic backlash in the short-term to stave off the long-term dollar crash of an OPEC transaction standard change from dollars to euros. All of this fits into the broader Great Game that encompasses Russia, India, China."
"It would appear that any attempt by OPEC member states in the Middle East or Latin America to transition to the euro as their oil transaction currency standard shall be met with either overt U.S. military actions or covert U.S. intelligence agency interventions. Under the guise of the perpetual `war on terror' the Bush administration is manipulating the American people about the unspoken but very real macroeconomic reasons for this upcoming war with Iraq. This war in Iraq will not be based on any threat from Saddam's old WMD program, or from terrorism. This war will be over the global currency of oil. A war intended to prevent oil from being priced in euros."
The present "No Nukes" propaganda campaign against Iran is a smokescreen.
Given the massive 'current account' deficit in the U.S. methinks the American economy would implode with spectacular results, if oil was traded in Euros.
The Proposed Iranian Oil Bourse
Peak America – Is Our Time Up?
George W. Bush and Peak Oil: Beyond Incompetence
Australia: Low oil warning: planning starts now.
Am not surprised that "little johnny" is promoting "discussion about nuclear energy".
Imagine a world without oil and petrochemicals, plastics et al. Travel is by what?? . Steam? Horses?