Oil War: US War on Iran Aims to Save Petrodollar and Global Dollar Dominance

Why is the USA waging war on Iran? It's not just because of Israel. Washington wants to control the oil of the Middle East (West Asia) to maintain the petrodollar system. The Trump admin fears the dedollarization movement's challenge to the global reserve currency, which is the US empire's most powerful tool. Ben Norton explains.

Topics

0:00 Iran war, US & Israel

0:32 World War I analogy

1:47 Middle East wars

2:56 Oil reserves

3:51 (CLIP) Trump wants Venezuela's oil

4:14 Oil blockade of Cuba

4:59 Strait of Hormuz

5:40 Trump admin targets Iran's oil

6:06 (CLIP) US wants "to get all of the oil"

6:30 USA is top oil producer

7:11 Dollar as global reserve currency

7:55 Sanctions and financial system

9:00 Dedollarization

9:50 (CLIP) Trump fears dedollarization

10:07 Iran joins BRICS

10:22 Iran promotes dedollarization

11:08 Resistance groups

11:38 Petrodollar system

13:14 US oil deal with Saudi Arabia

15:06 Oil is (mostly) sold in US dollars

16:38 China buys Iranian oil with yuan

17:05 Venezuela sold oil in renminbi

17:26 Petrodollar and Venezuela

18:19 Trump official: Iran war for oil

19:44 USA targets China

20:44 Exorbitant privilege of US dollar

22:26 Commodities priced in USD

23:19 Financial elites benefit

24:17 US stock market: 60% of world

24:54 Global elites hold US assets

26:57 Gold standard to oil standard

28:11 Richest 10% hold 90% of stocks

28:43 Dedollarization grows

29:21 Rise of China (and India)

30:01 China buys oil with yuan

31:20 Iraq sold oil for euro, not USD

32:19 USA controls Iraq's oil revenues

33:30 Venezuela's oil revenues

34:19 Trump fears de-dollarization

35:00 UAE sells China LNG in RMB

36:01 Saudi Arabia considers yuan

36:51 Saudi BRICS invitation

37:15 UAE joined BRICS

37:44 War among BRICS members

38:29 US provokes Saudi-Iran conflict

39:10 China brokers Saudi-Iran deal

39:39 Petrodollar war

40:52 Israel and lobbying

43:34 Israel: US aircraft carrier

44:20 (CLIP) Biden: Israel "investment"

44:36 Israel and petrodollar

45:11 The tail does not wag the dog

46:05 Suez crisis of 1956

47:28 Origins of US-Saudi alliance

48:30 US-Israel alliance is recent

49:58 Bigger picture of US imperialism

51:55 Outro

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