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Dollar dropped

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posted on Dec, 19 2006 @ 12:47 PM
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Iran has just said it will start using Euros in Oil deals from now on.
This move has been steadily progressing from 2003 where Iran has been slowly moving away from the dollar to the euros. This move is expected to weaken the already volatile dollar which has been dropping and rising the couple of years.

 



news.bbc.co.uk
Analysts said Tehran had been steadily shifting its foreign-held assets out of dollars since 2003 and that Monday's announcement was unlikely to affect the value of the dollar, which has weakened significantly in recent months.

An Iranian spokesman said all its foreign exchange transactions would be conducted in euros and its national budget would also be calculated in euros as well as its own currency.

"There will be no reliance on dollars," said Gholam-Hussein Elham.

"This change is already being made in the currency reserves abroad."

The currency move will apply to oil sales although it is expected that Iran, the world's fourth largest oil producer, will still accept oil payments in dollars.



Please visit the link provided for the complete story.


This has also been in response to US pressure to put sanctions on Iran and
This isn’t really a surprise since it was inevitable that someone in the Middle East would finally drop the dollar because of its unstable value during the last couple of years.




posted on Dec, 19 2006 @ 01:18 PM
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That's one of the few reasons why Iraq was invaded, because they started trading oil in euro... The US was angry because they would lose the monopoly of the dollar.

With the buildup of US forces near Iran starting in January this may be the final stage toward attacking Iran. For economic, oil, uranium, strategic (against Russia and China) and nuclear reasons.

[edit on 19-12-2006 by Vitchilo]



posted on Dec, 19 2006 @ 01:25 PM
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Good find. We've been expecting this for several years now. Maybe if we'd tried to be diplomatic it might not have happened, but well, we've been threatening them with war and not using diplomacy.

This on top of the fact that just within the last week, China has decided to trade in 1 trillion of their dollars, I think it's for gold, not sure. But either way, it's not looking good for the U.S. dollar. And I agree, that's why we invaded Iraq.



posted on Dec, 19 2006 @ 01:44 PM
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The U.S downfall has just begun... I'm not supporting it but it is due to happen.



posted on Dec, 19 2006 @ 03:55 PM
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Some are wondering: "Why has the dollar not reacted?"

This is the effect of the dollar's recent fall and long-term downtrend (the cause) not the other way around.

Many Americans are having trouble thinking globally or believing that the dollar is being slapped around rather than leading any trends. The reserve currency is in trouble and has been for a while.

Remember this?
Russia Approves Ban on Dollar, Euro.
.



posted on Dec, 19 2006 @ 04:07 PM
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Well the dollar plunged from 85.71 to 85.16 today against all the others currencies. So in one day, he lost about 0.65%. That's a lot in one day... Let's see how he lost tomorrow.

Source: Kitco



posted on Dec, 19 2006 @ 06:52 PM
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Irans dumping of the USD is in my opinion politically motivated (despite denying it), they have been converting reserves to EUROS for sometime now, as the USD continues to fall more organisations will reduce there holdings, which is a natural reaction to sell assets that are declining in value.


2007 will see the USD fall even further (i beleive its still over valued), much of the Western World may slip into recession in 2007 (2+ consequtive quarters of falling GDP).


I see huge potential for the seemingly unavoidable recession to start to become a Depression late 2007 with World wide implications.

Be nice to be wrong on this! but seems unavoidable, especially if theres a paniced sell off


[edit on 19-12-2006 by NumberCruncher]



posted on Dec, 19 2006 @ 07:30 PM
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Originally posted by NumberCruncher
Irans dumping of the USD is in my opinion politically motivated (despite denying it), they have been converting reserves to EUROS for sometime now, as the USD continues to fall more organisations will reduce there holdings, which is a natural reaction to sell assets that are declining in value.


thats clear from the start. Iran knows it can hurt the US econemy if it does this and drasticly effect the dollor value.


link is the same from first post



The US, which accuses Tehran of supporting terrorism and trying to obtain nuclear weapons, has sought to limit the flow of dollars into Iran.

It wants the United Nations Security Council to impose sanctions on Iran.



posted on Dec, 19 2006 @ 08:15 PM
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i wonder if a counrty made a bold move that cuased the dollor to collapse overnight, do you think the us would allow it or would they sabotage the country responsible?



WASHINGTON - The Bush administration said Tuesday that China does not meet the technical requirements of a country that is manipulating its currency to gain unfair trade advantages.
source



so if china doesnt meet the requirement to cheat, does that mean the US does, or am i reading this wrong?



posted on Dec, 19 2006 @ 08:38 PM
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Originally posted by Glyph_D


so if china doesnt meet the requirement to cheat, does that mean the US does, or am i reading this wrong?



It means that the US has a set of Check points that if met would lable a foreign country being checked as a currency manipulator, and if the foreign country earned the Manipulator status Sanctions etc could follow.

The US could meet the requirement, it would be interesting to run the US against its own checkpoints from a Foreign Governments point of view.



posted on Dec, 19 2006 @ 09:07 PM
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Originally posted by NumberCruncher
The US could meet the requirement, it would be interesting to run the US against its own checkpoints from a Foreign Governments point of view.


yeah i wonder?!?!?!

to me the only way to have a benchmark is for someone to have made it, i was assuming the US is responsible for making that benchmark

"do as i say not as i do" sort of thing.

[edit on 19-12-2006 by Glyph_D]



posted on Dec, 19 2006 @ 10:12 PM
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The question remains now, what must I do in order to profit from this? An exchange of wealth is about to occur, and it would be prudent to figure out how we canget a piece of that. Anytime anything happens, someone is losing money to someone else. Now that is just unavoidable. The trick is to be on the recieving end, because you cannot stop everyone from losing money. And no this is not only for the elite. Many private citizens and risk taking entrepeneurs make some to big money at times like this.

So what must I do in order to profit from this... hmmm



posted on Dec, 19 2006 @ 10:20 PM
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Canadian Currency and European Currency are no-brainers. Americans who still have cnd dollars from the 90s are sitting on quite a tidy profit now and something like this could make it even more profitable. I myself will be buying US currency as it falls, because the conversion is near as high as it's ever been. Well not really, but close. Our dollar has been worth more then the USD at certain points in history, we could be entering another point like that.

How will this effect the Stock Markets though?



posted on Dec, 19 2006 @ 10:37 PM
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This is what is going to Happen, the problem snow balls, as more people sell there USD more and more people want to sell USD to protect against a falling asset price !

I agree diversify into Canadian dollars and Euros.

The YUAN is undervalued and a big part of the woes of the USD.

As long as selling doesnt get to paniced we should see a bumpy landing instead of a crash landing !

I dont know just depends how bad things actually get, one thing i would make sure you do is eliminate as much debt as possible, i think the people whom are going to get hit hardest in the future are those with Huge Mortgages during the upcoming property crash, i bet there will be people with Mortgages far bigger than the value of there Homes !!



posted on Dec, 19 2006 @ 10:50 PM
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What are the other countries going to do though? Especially China which exports most of it's goods to the Western world? They may not want a Depression to happen and may step in to limit it to a longer Stagnation(ie a Crash Recovery cycle every 3 years or so for a decade or longer) which happened to Japan in the 90s.

[edit on 19-12-2006 by sardion2000]



posted on Dec, 19 2006 @ 10:59 PM
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This doesn't hurt the U.S. ecomomy, if anything it helps it. A lower dollar has been the policy for a long time since it boosts domestic production and hampers imports.

Anyone thinking this is bad for the U.S. is just kidding themselves. The U.S. Dollar had been artificially high in recent decades because of its use internationally.



posted on Dec, 19 2006 @ 11:02 PM
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Well Well Well...you are very very close with this post. Still I congratulate you on figuring out several parts to the Irak RAW...The ones you left out are supposedly nat'l sekrets, or actually they arn't sekret to those who have spent many hours in research trying to figure out the real reasons behind the Irak Raw. Any borderline mensa OTE thinker who has done his research knows the real reasons.

And I must say, finally after much research I no longer have any bad feelings towards our current prezidant, with the exception of the policy of tortrur of the brainwashed religious fanatiks. Why not try piping in the true Christian word of God, & show a little kindness, explain to them that the state church does not represent the "TRUE CHRISTIAN FAITH" Try to deprogram these mentally ill souls, who are so hell bent on killing themselves & as many "heretiks" as possible.

I can't say much more, because it would be counter productive, & put our nation at great risc if the real reasons for the RAW were to be published.

Our servicemen are NOT dieing in vain in some lost cause...even though the majority think they are. They really are keeping Amerika safe, & there is always much more to the big picture then can be disclosed.



[edit on 19-12-2006 by OTE TruthSpeaker]



posted on Dec, 19 2006 @ 11:25 PM
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You're ignoring the fact that most of your resources come from other countries. Yes, "Made in America" goods will become more attractive IF they are completely made in America from ore/timber/etc to finished product. This is rarely the case nowadays(unfortunately). The effects of a falling dollar isn't as linear as it once was...



posted on Dec, 19 2006 @ 11:30 PM
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Especially worrying for that big Import --- OIL !



posted on Dec, 20 2006 @ 01:59 AM
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Look at SE Asia what's happening right now.

The falling dollar is smeared off on their currencies.

China holds the trumph, but they don't wanna play it. Not yet.

Sooner or later they'll have to ...and then ...bye, bye American pie.



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