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0 pointsjcranmer4y ago0 comments

> Besides the Iraq thing someone mentioned, Gaddafi in Libya got taken out right after he spoke about wanting to sell oil in euros.

Source? Specifically, a source that can pinpoint a statement by a Libyan official in the immediate run-up to the intervention in Libya (i.e., late 2010 or early 2011) indicating a desire to switch to selling oil in euros.

The closest I've ever seen to such a source is that one of the cables released in the Wikileaks leak reported that a source close to Sarkozy outlined a few reasons why he wanted to intervene of Libya, one of which was a desire to replace the CFA franc (effectively backed by France) with a gold-based Libyan dinar.

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atatatat4y ago

That's all I needed to see.

And apparently it was enough for the Secretary of State's people to see, too.

jcranmerOP4y ago

I... am stunned why people think this in any way supports the narrative of petrodollar-supremacy. Because neither oil nor dollars are implicated in that string of statements at all. Especially GP's summary of the statement--"we bombed Libya because they wanted to price oil in euros instead"--is at complete odds with the implied statement here--"Libya wanted to move from euro-backed currency."

Now it's important to note the context of the source. The diplomatic cables are--effectively--gossip reports. In general, they're not indications that anyone actually believes them, nor indications that their reports are causes for action. A report that a French president is concerned about threats to French suzerainty in its former African colonies is exactly the sort of thing that I'd go "right, I believe that... and I don't care." There is yet, to my knowledge, any evidence that this actually influenced US foreign policy in any manner whatsoever, let alone supports the petrodollar-supremacy narrative.

atatatat4y ago

If not supremacy of dollar, what reason do you hold dear for the toppling of yet another sovereign government in this case?

dragonwriter4y ago

> If not supremacy of dollar, what reason do you hold dear for the toppling of yet another sovereign government in this case?

Why the US and the West targeted an anti-Western, terrorism exporting dictatorial regime with a history of trying to acquire WMD whose overt ideology was a blend of totalitarian socialism and a unique version/descendant of Islam during a period where it was unusually active in targeting anti-Western, Islamic regimes especially those with a history of trying to acquire WMDs under the aegis of a war on terror?

Dunno. Must be rumors that they planning to move away from the CFA Franc somehow raising worries that they’d stop selling oil for dollars.

jcranmerOP4y ago

I think dragontamer has a compelling answer that is better put than I could have, but I would add one thing. Russia and China could have vetoed the UN resolution that effectively signed the Qaddafi regime's death warrant. But they didn't. Even if you don't care to understand anything about Middle Eastern or North African politics, that alone should suggest that there exists other reasons than naked Western imperialism for the toppling of the Qaddafi regime.

javert4y ago

I haven't taken the time to look for a source. Maybe it really is just a rumor.

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atatatat4y ago

That's all I needed to see.

And apparently it was enough for the Secretary of State's people to see, too.

jcranmerOP4y ago

atatatat4y ago

If not supremacy of dollar, what reason do you hold dear for the toppling of yet another sovereign government in this case?

dragonwriter4y ago

> If not supremacy of dollar, what reason do you hold dear for the toppling of yet another sovereign government in this case?

Dunno. Must be rumors that they planning to move away from the CFA Franc somehow raising worries that they’d stop selling oil for dollars.

jcranmerOP4y ago

javert4y ago

I haven't taken the time to look for a source. Maybe it really is just a rumor.

j / k navigate · click thread line to collapse