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Mark Gobell
On Gardening Leave
Joined: 24 Jul 2006
Posts: 4529
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 Posted: Mon Dec 18, 2006 8:10 pm Post subject: Iran to replace dollar with euro in foreign deals |
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TEHRAN (AFP) - Iran announced it has ordered the central bank to use euros for foreign transactions and transform the state's dollar-denominated assets held abroad into the single European currency.
"The government has ordered the central bank to replace the dollar with the euro to limit the problems of the executive organs in commercial transactions," government spokesman Gholam Hossein Elham told reporters Monday.
"We will also employ this change for Iranian assets (in dollars) held abroad."
Elham implied that the move would apply to oil revenues from the world's number four crude producer, although it remains to be seen how this would be received by the market.
"Foreign income sources and oil revenues will be calculated in euros and we will receive them in euros in order to put an end to our dependence on the dollar," Elham said.
The move comes amid mounting pressure from the United States for the UN Security Council to agree sanctions against Iran over its controversial nuclear programme.
Bankers in Iran have complained in recent weeks that it was becoming increasingly difficult to receive Iranian-held money denominated in dollars from European bank accounts.
They said that this was because of US pressure on European banking giants not to allow dollar-denominated funds to be sent into, or out of, the Islamic republic.
Elham added that Iran's budget would in future be calculated in euros.
"Until now the budget has been calculated according to revenues in dollars, but this calculation will now change," he said.
http://news.yahoo.com/s/afp/20061218/wl_mideast_afp/iranforexbank_0612 18100958
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Roger the Horse
Moderate Poster
Joined: 02 Jun 2006
Posts: 159
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| Posted: Tue Dec 19, 2006 9:44 am Post subject: Re: Iran to replace dollar with euro in foreign deals |
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| Mark Gobell wrote: | Bankers in Iran have complained in recent weeks that it was becoming increasingly difficult to receive Iranian-held money denominated in dollars from European bank accounts.
They said that this was because of US pressure on European banking giants not to allow dollar-denominated funds to be sent into, or out of, the Islamic republic.
Elham added that Iran's budget would in future be calculated in euros.
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Looks from this as if the US is purposely putting pressure on Iran to deal in Euros rather than dollars, a move that could get a snowball rolling that could be disastrous for the dollar. Appears to lend weight to the idea that the dollar will be collapsed intentionally.
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Serge
Moderate Poster
Joined: 13 Aug 2006
Posts: 188
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| Posted: Tue Dec 26, 2006 1:03 am Post subject: Re: Iran to replace dollar with euro in foreign deals |
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| Roger the Horse wrote: | | Mark Gobell wrote: | Bankers in Iran have complained in recent weeks that it was becoming increasingly difficult to receive Iranian-held money denominated in dollars from European bank accounts.
They said that this was because of US pressure on European banking giants not to allow dollar-denominated funds to be sent into, or out of, the Islamic republic.
Elham added that Iran's budget would in future be calculated in euros.
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Looks from this as if the US is purposely putting pressure on Iran to deal in Euros rather than dollars, a move that could get a snowball rolling that could be disastrous for the dollar. Appears to lend weight to the idea that the dollar will be collapsed intentionally. |
Saddam Hussein announced he was going to the same in Nov 2000, and look what happened.
Naval forces are building up and are out there right now, poised to strike Iran over the coming months.
It is also known that over 250,000 US soldiers are poised to run rule in the US should this ever get to the stage where orders are given to use nuclear.
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Disco_Destroyer
Trustworthy Freedom Fighter
Joined: 05 Sep 2006
Posts: 6342
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| Posted: Fri Jan 05, 2007 4:44 pm Post subject: |
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Maybe they will allow the Iraqi Baa'thists to strike back after Saddams execution only to blame it on Iran 
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uselesseater
Trustworthy Freedom Fighter
Joined: 21 Sep 2005
Posts: 629
Location: Leeds
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| Posted: Fri Jan 05, 2007 5:42 pm Post subject: Re: Iran to replace dollar with euro in foreign deals |
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| Roger the Horse wrote: | | Mark Gobell wrote: | Bankers in Iran have complained in recent weeks that it was becoming increasingly difficult to receive Iranian-held money denominated in dollars from European bank accounts.
They said that this was because of US pressure on European banking giants not to allow dollar-denominated funds to be sent into, or out of, the Islamic republic.
Elham added that Iran's budget would in future be calculated in euros.
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Looks from this as if the US is purposely putting pressure on Iran to deal in Euros rather than dollars, a move that could get a snowball rolling that could be disastrous for the dollar. Appears to lend weight to the idea that the dollar will be collapsed intentionally. |
Yes. At this point is would seem that the power elites agenda is to crash the dollar in a repeat of the crash in the early part of the last century. The MO is exactly the same i.e. Increase the money supply vastly, get everyone owing trillions then crash the economy and reduce the supply vastly.
Joseph Stiglitz (former head of the world bank) says there will be a global depression in the next 12 to 24 months if things are not managed correctly. He went on to say that things were not being managed correctly. |
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