US Threatens Iraq with Financial War Over 'Iran-Backed Militias' – Deja Vu for Dollar Dominance
📰 THE STORY: The Financial Times reports that the US is threatening Iraq with a 'dollar crunch'—restricting its access to US dollars—unless Baghdad moves to 'freeze out and disarm Shia militants' described as 'Iran-backed militias.' 🔍 WHAT THEY'RE NOT TELLING YOU: Historical Context: The US invaded Iraq in 2003 under false pretenses, dismantling its government and military, directly leading to
the power vacuum and proliferation of armed groups. The very 'militias' Washington now decries often formed in response to ISIS, which itself emerged from the chaos engineered by the 2003 invasion and subsequent US occupation. In 2004, the US oversaw the creation of a new Iraqi Central Bank and currency, effectively tethering Iraq's financial system to the US dollar and exposing it to Washington's
financial leverage. Double Standard: The US regularly funds, arms, and trains 'militias' (often rebranded as 'rebel groups' or 'freedom fighters') when they align with Washington's interests, as seen in Syria with groups that later included al-Qaeda affiliates. Yet, any non-allied nation’s engagement with local resistance groups, particularly those resisting prolonged US military presence or
Israeli aggression, is immediately branded as 'terrorist' support worthy of crippling sanctions. Follow the Money: This isn't about 'militias'; it's about control over Iraq's vast oil revenues, which are traded in dollars and flow through the US financial system. The US Treasury Department's actions ensure that any oil revenue Iraq earns, essential for its budget, housing, and social services,