Iranian Oil Bourse

[JohnnyMack]

Anyone familiar with this? In March Iran plans to go live with a trading floor for oil. Currently there are only two (both owned by American companies) trading outlets for oil.

The kicker here is Iran's plan to use the Euro as the sole means of trading oil, bypassing the Dollar altogether.

As the U.S. Dollar continues to weaken and more and more countries we do business with (China) continue to hedge against said weakening Dollar by offsetting much of their reserves with things like gold and other forms of currency, how long until we invade Iran in an effort to stop this? Think I'm crazy? The last person who tried to trade oil for something other than U.S. Dollars was Saddam Hussein.

http://www.informationclearinghouse.info/article11613.htm

[Pieces Hit]

Well they ARE in the Axis of Evil.

You can't expect nice things from an Evil Axis.

Jimi Hendrix did "Axis Bold as Love".

Wouldn't it be cool if the world was in that Axis?

Uh huh.

[OklahomaTuba]

Sounds like bull**** to me.


This is what the author is saying:
1) The oil fields are not worth holding
2) Bush could just print dollars and buy oil
3) What oil is priced in is more important than the oil itself.http://www.howestreet.com/story.php?ArticleId=1947

[JohnnyMack]

I think it's another example of how the Dollar continues to be unattractive to the rest of the world.

China is offloading its Dollar reserves and diversifying its holdings as are Japan, India and Russia.

Tuba what happens when the Dollar is worth half of what the Euro is? Will you worry then? When it costs $80 to fill up a car because the dollar just ain't worth **** will you worry?