hmm id heard of the iranian oil bourse from a few years back, and how the iranians intended to sell their oil in euros instead of dollars.
heres what a bit of digging found :
During 2007, Iran asked its petroleum customers to pay in non US dollar currencies. By December 8, 2007, Iran reported to have converted all of its
oil export payments to non-dollar currencies. [8] The Kish Bourse was officially opened in a videoconference ceremony on February 17, 2008, despite
last minute disruptions to the internet services to the Persian Gulf regions. Currently the Kish Bourse is only trading in oil-derived products,
generally those used as feedstock for the plastics and pharmaceutical industries. However, officially published statements by Iranian oil minister
Gholamhossein Nozari indicate that the second phase, to establish trading in crude oil directly, which has been suggested might one day perhaps create
a "Caspian Crude" benchmark price analogous to Brent Crude or WTI will only be started after the Bourse has demonstrated a reasonable period of
trouble-free running
thats from wiki, so the bourse is up and running, and is ready to move into its SECOND PHASE selling crude directly, and probably in euros.
does every one remember the buzz about the internet being cut off at the same time of the bourse opening? i remember, that the cables were found cut.
both of them it wasnt an accident was it america? naughty america
what does the bousre being sold in euros mean to the rest of us, and how would that be a "blow to the west"?
well..
A Renunciation Of The $ Is Worse Than An Iranian Nuclear Attack Steering away from the almighty commodity, currency and commodity currency - the US
dollar - can have a deeper impact on the US economy than a direct nuclear attack by Iran. The permanent demand for dollar denominated paper stems to a
good part from the fact that until now almost all resources of the world are quoted in it.
hmmm, i like the iran nuke attack reference, strangely enough.the article comes from
here;
prudentinvestor.blogspot.com...
ok, so oil sold in euros = bad for usa, and iran has known this for years, howthis further affects the american economy, and why the usa might get
itchy trigger fingers when mention of oil being sold in something other than dollars is mentioned in another quite informative site.
www.energybulletin.net...
to sustain the American Empire and to continue to tax the rest of the world, the United States had to force the world to continue to accept
ever-depreciating dollars in exchange for economic goods and to have the world hold more and more of those depreciating dollars. It had to give the
world an economic reason to hold them, and that reason was oil.
the dollar was now backed by oil. As long as that was the case, the world had to accumulate increasing amounts of dollars, because they needed those
dollars to buy oil. As long as the dollar was the only acceptable payment for oil, its dominance in the world was assured, and the American Empire
could continue to tax the rest of the world