I think Iran is mostly going to cut off credit sales of oil

They possibly have too many floating accounts. Say for instance you were a merchant and you knew someone wasn't going to pay you or couldn't pay you, wouldn't you cut them off?

Maybe they figure if these country want free oil they should just get it from the house of Saud.

That's my take or rant on the matter.

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Look at China, actively buying our debt. Obviously it makes no sense to do, right? Actually, they have so much invested in America that if they were to try and collect the dollar would collapse and they would not receive what they are owed. As a result they are forced to keep our sinking ship afloat.

One can only help but imagine how China will use this power against us in the future. They basically have us in a vice with the ability to obliterate our economy; this is much more devastating than any kind of physical warfare. I see China emerging as the next world leader.

Maybe not such a bad thing.

Originally posted by DestroyDestroyDestroy
One can only help but imagine how China will use this power against us in the future. They basically have us in a vice with the ability to obliterate our economy; this is much more devastating than any kind of physical warfare. I see China emerging as the next world leader.

I was reading a magazine a couple of months ago and it basically said that America's debt was going to fund China's navy. The money coming in will provide them the funds to compete with America eventually. It also stated that this has already reached Event Horizon. Nothing can stop it short of America defaulting on it's debt.