Iran Leads The Attack Against U.S. Dollar

Iran Leads The Attack Against U.S. Dollare

Iran leads attack against U.S. dollar
Quietly waging economic war as it builds nuclear program
Posted: April 11, 2007
1:00 a.m. Eastern

By Jerome R. Corsi
© 2007 WorldNetDaily.com


While the world press has focused on Iran's plans to move ahead with enriching uranium, Tehran continues to wage economic war against the U.S. dollar behind the scenes.

(visit the link for the full news article)www.worldnetdaily.com...



[edit on 11-4-2007 by Shadoww]

[edit on 11-4-2007 by Shadoww]

After all the rumour and predictions, here is one that is coming true as we speak..
Some people have been speaking about this happening for a long time..
Makes me think..
What else are they right on??


(visit the link for the full news article)

Thats right, people have been talking of this move by Iran for ages - will be interesting to see how the value of the US dollar gets affected?

www.worldnetdaily.com...

Tehran has reached a decision to end all oil sales in dollars, according to statements by Iran's central bank governor, Ehrabhim Sheibany, in Kuala Lumpur at the end of last month.

Could this be "THE" trigger to set the states off against Iran ? It would surely threaten the power of the US dollar internationally would it not?

Commission free tip: go short on the Dollar.

Stat.

Like I just said, probably around 1.50 versus EURO this summer. Real estate isn´t looking too hot either these days with Century going Chapter 11. But everything is fine and dandy according to analists so nothing to worry folks, move on...

(frantically buying Euro´s in the background)

Our economy is still going good. Employment rate is still high. In some areas homes are still going up in value. The feds might raise interest rates again to slow down the housing market as well as inflation. I mean why wouldn't they? Economy still strong w/ higher rates. Sure, there are more foreclosures, but hey people w/ bad credit shouldn't be qualify for a mortgage in the first place. That's the lenders fault for giving them a loan. The lenders are quickly getting rid of certain loan programs for people w/ weak credit to solve this.

I don't think Iran has the capability to hurt the US economy. Our economy is extremely stable, that's why investors from all over the world invest in us. They trust our economy.

New Century is known for giving out bad loans. That's why they ended up the way they did, it didn't surprise me. I work w/ them and I send them all my crappy clients. lol

I agree am. Iran having economic wars with the states? HAH! like thatll work!!!

We have been saying this for months but nobody listened. Looks like it maybe about time to convert funds to Euros. Sadly, I don't see it getting any better than it is right now.

Could this be the beginning of the end?

Originally posted by PrepareForTheWorst

Could this be the beginning of the end?

Hardlyl..

In all reality it is the United States that is leading the attack on the dollar. Our trade imbalance and budget deficit along with the national debt have become so unwieldy and the government so reluctant to do anything about it that many countries have come to feel the Euro is a safer and better investment. Fact is the U.S. government has been warned repeatedly by everybody from the former head of the World Monetary Fund to the comptroller of the GAO to various investment bankers that we have to get our house in order before it is too late or it will start having a deterimental effect on the global economy. Iran is going off the dollar, China started doing so awhile back, Saudi Arabia is contemplating it. What we are really seeing is the end of the "American Century" and our decline in influence.

Just peeked and the Eurodollar's at an all time high against the USD.
I'm also seeing India contemplating a change in trading based in EUD currency.

With the US about to slap China with Import Duty and China switching from USD to EUD in world trading, I can understand why the USA has stiffened it's trade practises with China.
Russia, Iran and India are in the process from what I can tell? Venezuela well..

Iraq was making the switch too, but was invaded before making the switch per a old Time article I had read earlier.

"Follow the money" may be the best way to watch International relations with the USA.

Dallas

Originally posted by Truth4hire
Commission free tip: go short on the Dollar.

Stat.

Like I just said, probably around 1.50 versus EURO this summer. Real estate isn´t looking too hot either these days with Century going Chapter 11. But everything is fine and dandy according to analists so nothing to worry folks, move on...

(frantically buying Euro´s in the background)

Everyone in the world is short the dollar. At some point there is going to be a huge short covering rally in the dollar. The short the dollar trade is way to one sided now. When a trade seems so easy and obvious its usually the end.

I think I speak for all Canadians when I say... "we'll still use the US Dollar". LOL. Unfortunately, we are probably not the biggest of importers of US products.

Wouldn't all the 'big' guys like China, SA, etc. put a HUGE dent in the US economy if they were to start using the Euro's.

I know they will all keep US funds available for other ventures ( as stated in an earlier post by someone I can't think of right now ) but this would have to hurt the economy, to say there is nothing to worry about seems a bit arrogant.

Didn't China do it's switch to Euros a month or two ago? If I remember correctly there was quite a bit of talk about the effect that would have on the US' slowing economy.

I also heard that the big banking companies across the world are discouraging their big clients from investing in the US due to some kind of tax or fee that has to be paid to the government. Sorry about not having the details but it was late, wine had been consumed and the banker I was talking to has a very german accent.

So, I'm not at all sure about Iran leading the "attack on the US dollar" but they seem to be following the global financial trends. Anyway, if you're going to get better value by using euros it would be economically stupid to stick to dollars. Let's face it, the dollar really hasn't been doing well for the last few years.

EXACTLY. Back up some and read my last post.

Originally posted by DenyAllKnowledge
Didn't China do it's switch to Euros a month or two ago? If I remember correctly there was quite a bit of talk about the effect that would have on the US' slowing economy.

No... they were talking about including Euros into their hard currency deposits instead of solely dollars; but this hardly means they are switching over. Believe me, if China switched over, you would know.

I also heard that the big banking companies across the world are discouraging their big clients from investing in the US due to some kind of tax or fee that has to be paid to the government. Sorry about not having the details but it was late, wine had been consumed and the banker I was talking to has a very german accent.

So, I'm not at all sure about Iran leading the "attack on the US dollar" but they seem to be following the global financial trends. Anyway, if you're going to get better value by using euros it would be economically stupid to stick to dollars. Let's face it, the dollar really hasn't been doing well for the last few years.

Exactly, however, I tihnk the Iranians are "pushing" the financial trend in trying to damage the dollar and the U.S. economy... they sure have hell have nothing to lose by doing so.

Some of you just don't understand how the market works. Let me ask you something. Who owns your mortgage, supermarkets, apartments, commercial buildings, and other tangible things in the US?

Investors of course, they own everything. Where are the investors from? Mostly from Japan, Taiwan, Europe, all over the damn world. They own almost everything here. If you walk in the street almost all of the buildings belongs to investors from overseas. The economy will never crash because the USA is built by investors from all over the world. That's why it's so stable. Forget the national debt. If we hurt, the whole world hurts. Do you think other countries want to set themselves up for failure. Do you think they just out of the blue say "here take my assets I'm running" or do you think they would rather have a strong US economy, so they can profit from their investments? Think about it.

Amfirst, I agree 100%...as I read this post the further I got along the more I scratched my head as I said to myself..."these folks don't understand our market forces"

The American economy and it's various markets are more diversified and distributed than any market(s) in the world...it would be very difficult to adversely affect them soley based on a single pronged attacked..or even a limited multi pronged attack..

To tank the American economy would also take most if not all of the major world economies right along with her...

If China wants to end (or win) a war between Iran and the United States, all they have to do is stop selling product to Wal-Mart for about three to six months! They happen to be China's fourth largest trading partner and I surmise that there would be many distraught families stateside if they could not get their weekly dose of junk at the big W.

Added to the fact that there happen to be a BILLION of them versus your 330 million or so. The bottome line is they don't NEED you! You NEED them for cheap product, they have cheap labor already. As to tanking the world economy, Euros are probably the denomination of choice anyway. AS a Canadian, I would welcome them, it's the US that would suffer in that event. Why do you think both Presidents Bush strongarmed the middle east? You cannot afford a change, much less absorb the impact on your industry. You don't even use the metric system like the rest of the 6 BILLION on the planet.

Empires rise and fall throughout history, the US will be no different in time. Sorry kids, its' been done before.

Cynic, I would not hold my breath on that one...the collapse of the American economy as you put it won't be happening anytime soon. As to China not selling goods to Wal-Mart and that busting our economy..yeah right!...China would suffer the most not the U.S.

And to the "as a Canadian" part...come on..if it wasn't for the U.S. being your neighbor..you would be riding a horse drawn buggy to the market..your economy is soooo tied to ours it's not funny.

Face it, The U.S.'s economy is the only economy in the world that can run in the red and it actually helps the rest of the world's economies...without our orders for goods running ahead of domestic purchases countries around the world would fold.