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Iran stops selling oil in U.S. dollars

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posted on Dec, 9 2007 @ 07:07 PM
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reply to post by Bluess
 


But MM ( Main Media) will fail to report this to the American people. Therefore most of Americans won't know squat above the Iranian oil bourse




posted on Dec, 9 2007 @ 08:38 PM
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Thank God for Bush and Cheney. I have a picture of them both on my mantlepeice, right next to a large crucifix. Please pray for them. Comments welcome. ( kinda off topic) ----but the oil, the bourse, hmmm.



posted on Dec, 9 2007 @ 10:40 PM
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the bourse is no biggie IMO

it's not the end of the world

the dollar will not "collapse" it will slowly fall at worst IMO because

the dollar is determind by it's relation to a basket of currency's

among this "basket" the largest egg is the euro

the euro can't rise much higher because the country's exports will suffer badly but MORE IMPORTANTLY is the state of their credit markets and the need for them to cut rates because otherwise growth will slow and housing is falling as well , so they will cut rates. lower rates means weaker currency in general.......sooooooo

i think the dollar collapse is being over hyped in the short term i think the euro will fall lower and the yuan will move higher (china's growth is growing fast and china's central bank will keep rising rates to cool inflation and the currency manipulation will keep the yuan from rising very rapidly . this should give the dollar some support even as the fed cut's rates (so i think the $ will stay around 75 or so) and this chart will level off

quotes.ino.com...

however if the Gulf Cooperation Council made up of many opec country's in the middle east decide to "de peg" their currency's from the dollar , oil prices here in the u.s would go up up and away, but may also slow the shieks coffers filling up, the cost of keeping the currency's pegged is rapid inflation. this should be watched.



[edit on 10-12-2007 by cpdaman]



posted on Dec, 9 2007 @ 11:04 PM
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Originally posted by patriot jim
reply to post by Bluess
 


But MM ( Main Media) will fail to report this to the American people. Therefore most of Americans won't know squat above the Iranian oil bourse


If you'll look closely, a handful of posters already said 'This hasn't been in the mainstream media so it must not be important'.

A fitting example of the mindset of most people. It's incredible the kind of things that go on in our world policy that people are unaware of - like the North American Union.



posted on Dec, 10 2007 @ 01:04 AM
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Many peeps are converting their dollars to Yen and Canadian dollars then buying international gold boullion.

Sounds like good advice.



posted on Dec, 10 2007 @ 01:44 AM
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It looks like to me that with Iran dropping the dollar that Venezuela will most likely follow suit since they are buddy buddies. However, I can only surmise that this can only bolster the demise of the dollar and set the stage for the Amero.

Let oil prices escalate, devalue the dollar, let the sub-prime fall flat on its arse, tell the American people that their only hope to save the economy and their homes is the NAU and the Amero and they will beg for it. Now blame it all on Iran and you have your scapegoat and the NAU as your savior.


Can't say I didn't see this one coming...wonder how much Bush and co are making off the deal.



posted on Dec, 10 2007 @ 03:07 AM
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Originally posted by Lucky One
This is scary stuff. This is about survival now. I dont want to end up homeless because our economy collapses.

For the first time I now wish we would have invaded them and dodged this bullet. We may all go down hard because of this, our economy just cant take anymore.

So you're ability to watch TV, buy washing machines, drive your car etc etc is more important than the lives of some brown skinned muslims (no doubt evil muslims) on the other side of the world who deserve to die anyway ?



posted on Dec, 10 2007 @ 04:27 AM
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I thought we quit buying oil from Iran like 10 years or so ago.



posted on Dec, 10 2007 @ 04:56 AM
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Chinese are buying it now .


China, Iran Sign $2 Billion Oil Production Agreement

Dec. 10 (Bloomberg) -- China Petrochemical Corp. signed a $2 billion agreement to develop Iran's Yadavaran oil field, advancing prospects for a contract on the sale of liquefied natural gas to the world's fastest-growing major economy.

The field will produce 85,000 barrels a day in four years and a further 100,000 barrels a day three years after that, China's official Xinhua news agency cited Iranian Oil Minister Gholam Hossein Nozari as saying yesterday. Under an initial agreement in 2004, China would pay Iran as much as $100 billion over 25 years for LNG and oil and 51 percent stake in Yadavaran.


Anacondaleezard's next stop on the sanction gathering tour is China isn't it ?

www.bloomberg.com...



posted on Dec, 10 2007 @ 06:37 AM
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most people have problems,but always try to blame others,if you live in a credit society ,whereas you want something now rather than save for it,when you borrow money, they give you the money with their left hand and hold your balls with their right hand, now you can,t complain when things go wrong because you put yourself in that position.in all life there are leaders,at the top is our government,the government that controls the world,in effect controls all,dangerous eh? I think the damage is done things will not improve only get worse.When there is a war the leaders dissagree with each other and so send others sons and daughters to fight,what is the outcome, well many innocent people get killed ,lets get on with life we are told,put it all behind us and go forward. Life is about people ,not things, not oil ,we need to look at ourselves.before its too late,mike



posted on Dec, 10 2007 @ 06:51 AM
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Sth America as per Chile, Argentina, Brazil and I forget the rest has just voted unanimously to form there own reserve bank so as they don/t have go to Washington for handouts with conditons on them. I think its a investment reserve bank or something.



posted on Dec, 10 2007 @ 06:58 AM
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Yes , so that South American countries do not have to borrow from the nefarious IMF or world bank any longer . Can't say I blame them.


BUENOS AIRES (AFP) — Six South American presidents on Sunday launched the Bank of the South, the region's answer to the World Bank and the International Monetary Fund as a source for development funds.

Presidents Nestor Kirchner of Argentina, Luiz Inacio Lula da Silva of Brazil, Nicanor Duarte of Paraguay, Rafael Correa of Ecuador, Evo Morales of Bolivia and Hugo Chavez of Venezuela -- all political on the left or left of center -- signed the bank into being.

"Motherland yes, colony no!" chanted a group of activists, most belonging to Kirchner's leftist Peronist party, who stood behind the presidents at the signing ceremony at the president's office.


afp.google.com...





[edit on 10-12-2007 by Gun Totin Gerbil]



posted on Dec, 10 2007 @ 08:48 AM
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Originally posted by Hallberg Rassy

The lynchpin in this is Russia. They are the worlds largest exporter of petroleum and if they move to settle in Eurodollars, then look out.


I hope I don't sound too nit-picky HR (I'm sure you meant Euros), but for the sake of clarity, Russia has used Eurodollars to facilitate the purchase and sale of energy resources for decades...as do most countries. In fact, Russia kinda invented the Eurodollar to protect their Dollar denominated oil revenues from being frozen by the US Gubmn't. Eurodollars...as opposed to Euros, are simply sterilized US Dollar denominated assets held in foreign banks...or in US banks on foreign soil. I think what we're discussing with respect to Iran, is the potential evolution of the Petroeuro. Iran began postponing their oil bourse in 2006 out of concern that any related revenues would be frozen in European banks by the West...over the nuclear issue.

I agree that Russia and China, under the new alliance known as The Shanghai Cooperation Organization, pose an obvious threat to Petrodollar dominance. It appears that both Iran (currently with observer status), and Pakistan, will soon be granted full SCO membership. I expect Venezuela will bring-up the rear. The US applied for SCO "observer" status in 2005...and was flatly denied...go figure. Not only have Russia & China held joint military exercises under the SCO banner, but at the SCO summit in August:


"The SCO leaders agreed to create a "unified energy market" that would bring energy resources from member countries rich in oil and natural gas to those that need such resources to promote their development. It also provides for exporting gas and oil to world markets."

and....

"The presidents of SCO observers Iran and Mongolia attended the summit, as did Pakistani Foreign Minister Khurshid Kasuri and Indian Minister of Gas and Oil Murli Deora. The Pakistani foreign minister said going into the summit that his country wanted to receive full membership, something that Iranian President Mahmud Ahmadinejad also said in the days leading up to the summit.

Although his country was not admitted today, Ahmadinejad was vocal at the event. In a clear reference to the United States, he blasted what he described as the "threats of one of the [international] powers to deploy elements of antimissile systems in several areas of the world." Ahmadinejad, seizing on the SCO's "energy club" agreement, also pledged Iran's help in organizing a meeting of SCO oil and gas ministers.
"


The development, and potential impact of the Shanghai Cooperation Organization is another issue MSM fails to address. I expect to see increasing energy sales to the Eurozone denominated in Euros.

The macro-economic climate today, shares a few things in common with 1971 when Nixon was forced to close the Gold window...disolving the Bretton Woods Accord. Vietnam...rising deficits...inflation...Dollar devaluation...recession. Foreign governments holding large Dollar reserves, tired of financing our foibles in Southeast Asia, began losing confidence our fiscal management. With the US Dollar still internationally, and officially redeemable in Gold, several foreign nations, but notably England & France, thought it would be wise to diversify (dump) some Greenbacks. This started kind of a run on the bank so to speak. Unfortunately, we didn't have enough Gold to cover the FRN's in circulation...so we declared insolvency. And what did John Connally, President Richard Nixon’s treasury secretary say to a group of visiting Europeans about the situation?

The dollar may be our currency, but it’s your problem”.

Incredible! Well, today it's everyone's problem.



posted on Dec, 10 2007 @ 01:08 PM
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Pretty smart of them but I think it's too late.



posted on Dec, 10 2007 @ 09:28 PM
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reply to post by Perplexed
 


This is not going to happen, because it does not matter if they propose to sell their oil in tittley-winks it does not have a cause and effect for the US. Go to the OPEC home page FAQ's and you will see that they have in place tasking to prevent the undermining of sales that will affect the oil trade...... PS the major mover of Crude oil is not OPEC it is the New York Merchantile Exchange... it matter little what Iran does.



posted on Dec, 10 2007 @ 10:25 PM
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Originally posted by pstrron
It looks like to me that with Iran dropping the dollar that Venezuela will most likely follow suit since they are buddy buddies. However, I can only surmise that this can only bolster the demise of the dollar and set the stage for the Amero.

Let oil prices escalate, devalue the dollar, let the sub-prime fall flat on its arse, tell the American people that their only hope to save the economy and their homes is the NAU and the Amero and they will beg for it. Now blame it all on Iran and you have your scapegoat and the NAU as your savior.


Can't say I didn't see this one coming...wonder how much Bush and co are making off the deal.



At least you know what's going on. The NAU has already been passed and the majority of Americans don't have a clue.

Now we sit back and debate, and speculate as to what nations are going to do what - despite the fact that this has already been planned out. People think they can sit around and discuss the 'reasons' for things happening - 'I Don't think America is going to do this or that' when they are clueless to begin with.

Because I am aware of the machinations being used in world politics to push us toward a N.W.O I don't sit around SPECULATING what the economy is going to do. I KNOW what it's going to do - it's going to do what it was designed to do : crash.



posted on Dec, 11 2007 @ 12:42 AM
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I KNOW what it's going to do - it's going to do what it was designed to do : crash.


This article agrees with you :


The planned collapse of America

The government has known for decades that America is on a countdown to self-destruction. Among the elite it is common knowledge that our "global economy" must one day collapse from its own dead weight. In 1974 an intensive research project was undertaken by the Stanford Research Institute and the Charles F. Kettering Foundation for the Dept. of Education.

Bush's appointed task is to bully America through this turbulent period of upheaval, with as little disruption of corporate activity as possible. Government has taken the words of this study to heart, preparing a manipulative transformation, to divert or preempt the coming collapse of our nation with a massive war today. This is also one of the primary reasons for the coming world war, to serve as a prelude to American martial law. Instead of calling out the troops after the insurrection has begun, they plan to call out the troops first. If the American military is to forcefully control the homeland, including their own relatives, then the troops must first be convinced that the nation's survival depends upon their patriotic actions. This is why the world war against Iran has not started yet, because our National Guard must first be convinced that its duty is to put down the American rebellion which will surely accompany the bombing of Iran. The timing for their great takeover is crucial, if they want to move America past (through) the social unrest as quickly as possible.


www.globalresearch.ca...



posted on Dec, 11 2007 @ 11:28 AM
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This is not the end of the world. A sworn enemy, a choice by them, of the United States stops selling THEIR oil in OUR currency, is this really a surprise to anyone? Iran is not the largest producer, nor do they have a completely effective strategy in steering world markets. Iran does not have the greatest reputation globally, so this is not the end of the U.S. economy. If it were, they would have done it much sooner. To think that our entire economy can be brought down by one nation's choice, well, is preposterous, especially if that nation is Iran. One of the only countries who could effectively render our economy into an emergency state would be China, who would not make such a decision. They know we are their largest purchaser of cheap, crappy goods, so they are not planning kick our economy back in the stone age, because theirs goes as well. While globalization is not the beneficial workhorse once touted as the cure-all to economic problems, it creates an environment where each country's economy is so intertwined in another, if one goes down, they all fall with it. The world cannot afford the United States to fail, and Euro ministers are alarmed and not happy with how much discrepency there is between the dollar and the euro. Rest assured that the United States will not be falling apart in the doomsday scenario as so often quoted on here. A good president, who can put a check on our national debt and work to get the dollar back on the rise, can put an end to all this economic doomsday talk.



posted on Dec, 12 2007 @ 10:58 AM
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Looks like the oil prices are going up again, already (a) two dollar(s) rise today @ over $92 per barrel:

www.oil-price.net...

[edit on 12-12-2007 by anhinga]



posted on Dec, 12 2007 @ 07:45 PM
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reply to post by dk3000
 


Ditto that. Only for supreme-same quality, of course



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