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Tehran Dumps the Dollar- Will History Repeat?

 
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GodSaveTheTeam
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PostPosted: Tue Sep 29, 2009 5:34 am    Post subject: Tehran Dumps the Dollar- Will History Repeat? Reply with quote

OK, now I'm worried.

Quote:
Iran's President Mahmoud Ahmadinejad has ordered the replacement of the US dollar by the euro in calculating the value of the country's Oil Stabilisation Fund (OSF).


The last time the dollar was dumped in favour of the Euro was a Very Bad Move by Saddam...

http://www.arabianbusiness.com/568241-tehran-dumps-dollar-for-euro

Could this be it for Iran?
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GodSaveTheTeam
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PostPosted: Tue Sep 29, 2009 7:14 am    Post subject: Reply with quote

A couple of extra news sources for your perusal...

The first agency to break the story on 20th September:

http://www.mehrnews.com/en/NewsDetail.aspx?NewsID=949912

Then these follow on the 21st:

http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=3159 16&version=1&template_id=48&parent_id=28


http://www.adnkronos.com/AKI/English/Business/?id=3.0.3794571852

And the interesting news from May of this year concerning the fact that both China and Brazil are looking to dump the dollar in line with Russia and Iran:

http://www.haaretz.com/hasen/spages/1088057.html


Here is also an interesting New Internationalist take on the PetroDollar possibilities:

http://findarticles.com/p/articles/mi_m0JQP/is_384/ai_n15923367/


So...are we finally beginning to see the World monetry USA behemoth begin to topple? Undoubtedly a wounded beast is the most dangerous when cornered, so it surprises me not that the mainstream news agencies are busy laying the foundations for the next Middle East invasion with news of Ahmaddinejad's 'Anti-Semitism' and Nuclear 'Armament'...

Where is the news of this Dollar to Euro switch anywhere in the mainstream media?

The Press Release Agencies are busy maintaining America's dignity, after all it wouldn't look very good if Iran were seen to be making a stand against the Dollar's disturbing instability. That would be an act of economic strength, not the work of a dangerous and unstable tyrant.

With Iran now being the second biggest OPEC oil producer after Saudi Arabia the question now of course has to arise: who used to be?

And that just so happened to be Iraq.
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cem
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PostPosted: Tue Sep 29, 2009 12:39 pm    Post subject: FLASHBACK: The March 20, 2008 US Declaration of War on Iran Reply with quote

.

http://japanfocus.org/products/topdf/2707


The March 20, 2008 US Declaration of War on Iran

by John McGlynn, Japan Focus, 22 March 2008


.
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IanFantom
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PostPosted: Tue Sep 29, 2009 5:38 pm    Post subject: Re: FLASHBACK: The March 20, 2008 US Declaration of War on Reply with quote

This page seems to have been zapped:
cem wrote:
.

http://japanfocus.org/products/topdf/2707


The March 20, 2008 US Declaration of War on Iran

by John McGlynn, Japan Focus, 22 March 2008


.
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IanFantom
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PostPosted: Tue Sep 29, 2009 5:41 pm    Post subject: Re: FLASHBACK: The March 20, 2008 US Declaration of War on Reply with quote

But it seems to have turned up here: http://www.japanfocus.org/-John-McGlynn/2707

IanFantom wrote:
This page seems to have been zapped:
cem wrote:
.

http://japanfocus.org/products/topdf/2707


The March 20, 2008 US Declaration of War on Iran

by John McGlynn, Japan Focus, 22 March 2008


.
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IanFantom
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PostPosted: Tue Sep 29, 2009 6:10 pm    Post subject: Re: Tehran Dumps the Dollar- Will History Repeat? Reply with quote

The New Internationalist article gives an assessment in terms of Petrodollar Warfare. It looks to me as if Ahmadinejad might have thought this one out rather better than Saddam did.

An Iranian friend of mine told me a couple of years ago that Ahmadinejad seems to be making exactly the same mistakes that Saddam made, in going out to provoke the US. I had asked him whether Iranians thought that they would be invaded, and he thought at the time that they would be bombed, though not invaded, since the terrain was too difficult.

The author of The New Internationalist article also wrote the book: Petrodollar Warfare: Oil, Iraq and the Future of the Dollar
http://www.amazon.co.uk/Petrodollar-Warfare-Iraq-Future-Dollar/dp/0865 715149/ref=sr_1_1?ie=UTF8&s=books&qid=1254247458&sr=8-1

GodSaveTheTeam wrote:
Here is also an interesting New Internationalist take on the PetroDollar possibilities:

http://findarticles.com/p/articles/mi_m0JQP/is_384/ai_n15923367/


GodSaveTheTeam wrote:
OK, now I'm worried.
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scienceplease 2
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PostPosted: Fri Oct 09, 2009 1:54 pm    Post subject: Reply with quote

http://crooksandliars.com/ian-welsh/what-dollar-going-oil-means

Quote:
The big news this week on the financial front was the Independent’s claim that Gulf Arabs and France, Japan, Russia and Japan were planning to move from buying oil in dollars to buying it in a basket of currencies, including gold and a new universal currency shared by the Gulf nations.

Buying oil in dollars is one of the foundations of the dollar’s role as the world’s primary reserve currency. Because the the dollar is the world’s primary reserve currency Americans have been able to borrow money for significantly less than other countries are able to. This has both made America more prosperous, and through the perverse incentives of cheap money, helped lead to the high indebtedness of American citizens and the financial crisis.

...

So one consequence of going off the dollar is that a major benefit of the strong dollar play is taken off the table, and the US loses its ability to control the price of oil. Since at this time, contrary to what the Feds are saying, a strong dollar play isn’t in the cards (the US needs to borrow way too much money) that’s not a big deal in the short run—in the long run it is.
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