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A comment on Germany records first monthly trade deficit since 1991 as inflation soars. Parent comment

Re:Germany records first monthly trade deficit since 1991 as... by unmole on Monday July 04, 2022 @09:35PM (#31983395)
> The day Iraq started to sell oil in euros the US attacked it for example

This stupid meme needs to die.

Iraq's switch to the Euro was not some rogue act of defiance. It happened under the UN's Food for Oil-for-Food program and was authorised by the Security Council: https://www.un.org/depts/oip/background/chron.html

If it really was such a significant risk to the dollar hegemony, the US could have simply vetoed it. The switch happened in late 2000 but Iraq wasn't invaded till March 2003.

> US federal (it's not, it's private banks) reserve

Eye-roll.

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Re:Germany records first monthly trade deficit since 1991 as... by olivermarks on Tuesday July 05, 2022 @07:29PM (#31995011)
Preceding the 'oil for food' historical fig leaf was the Iranian oil bourse, an attempt to get the petroeuro off the ground. That was headed off and nipped in the bud pretty fast by the petrodollar mercenaries...

The FR is a federal board 'overseeing' 12 private chartered regional banks. This contraption was organized in deep secrecy in 1910 at Jekyll Island as I expect you are aware.

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