Interesting Theory

While reading an article forcasting a further fall in the value of the U.S. Dollar in 2007, I stumbled across the following theory regarding the invasion of Iraq, and possible future invasion of Iran:

Chapman's Dec. 30 newsletter documented that the international move away from the dollar has already begun:...

....Iran's switch to euros is the greatest threat yet to dollar supremacy. The usage of the euro is now universal in Iran and it will spread to other Islamic oil-producing countries as well. The share of dollars as a percentage of OPEC foreign reserves has fallen from 67 percent to 65 percent in the first half of 2007.

Iran's decision to hold only Euros may prompt a U.S. decision to launch a pre-emptive attack, Chapman speculated, with the public argument being Iran's pursuit of nuclear weapons in defiance of the U.N. Security Council.

"Saddam Hussein signed his death warrant," Chapman argued, "when he got the U.N. to agree that he could hold his oil-for-food reserves in euros. Ahmadinejad appears determined to go down the same path."

Is this a further example of international flagranomics at play? Indubitably!