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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (39530)	7/12/2007 3:30:40 PM
From: Steve Lokness	Respond to of 541927

Sam; Huge amounts of money were looted from Iraq's banks during the invasion. The reason this story should be getting more attention is that it has the potential to degrade the American dollar. Interestingly the NYT article didn't even mention the loss of the 220 million Iraqi diners? The story should have been on page 1 - not page 12! One of the reasons I have seen for the "real" reason we went into Iraq was that Saddam was going to switch from basing his oil exports to the Euro. That of course ,if it caught on, would be harmful to the strength of the dollar. ........Even the strong market today is perhaps a result of the falling dollar. People want to get out of dollars and into anything else. Stocks. Gold. Who said - "what a mess"? What a mess! steve