JohnnyMack
1/30/2006, 02:07 PM
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
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