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They only did what Greenspan told them to. It doesn't matter who 'owns' the oil. As long as it's sold in dollars, it props up the value of the US dollar.

"They only did what Greenspan told them to."

Do you have any evidence for that?

He admitted it himself. In Greenspan's book, he mentions how he regretted urging Bush to do it.

Interesting. I'd somehow missed that.

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