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Old 09-25-2009, 08:09 PM
 
Location: Great State of Texas
86,068 posts, read 76,811,289 times
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They've been threatening for a while to do it.
Now they have done it and are urging OPEC to do it.
Noted in this article..there are more Euro's in circulation than dollars.

Iran Replaces The US Dollar With The Euro…And So It Begins | Daily Markets
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Old 09-25-2009, 08:11 PM
 
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Time to invade Iran and bring them freedom and democracy.
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Old 09-25-2009, 08:12 PM
 
Location: Heartland Florida
9,324 posts, read 24,722,065 times
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Expect the invasion of Iran due to a "terror attack" or "nuclear weapons".
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Old 09-25-2009, 08:13 PM
 
48,508 posts, read 88,621,764 times
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Who care what Iran does on the dollar.
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Old 09-25-2009, 08:30 PM
 
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Quote:
Originally Posted by texdav View Post
Who care what Iran does on the dollar.
You're kidding, right?
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Old 09-25-2009, 09:17 PM
 
975 posts, read 1,629,703 times
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They better hope this works better for them than the last morons who tried it. But thats the great thing about crazy people; give 'em enough time and eventually they'll screw themselves over.
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Old 09-25-2009, 09:31 PM
 
Location: Arizona High Desert
4,669 posts, read 5,344,009 times
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Americans love that the dollar is slipping......it excites them !
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Old 09-25-2009, 09:32 PM
 
Location: Planet Eaarth
8,955 posts, read 18,758,788 times
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Quote:
Originally Posted by texdav View Post
Who care what Iran does on the dollar.
Every American had BETTER care!! If the oil stops being pegged to the dollar the entire American economy will very soon collapse!!!

The fact that oil is paid for in dollars is what props up Americas borrowing power without it we are.............broke! I'm talking last person turn off the lights broke!! Total devastation that no one can stop...........

"If Opec pulled the plug on the dollar, the financial turbulence of the last year could be eclipsed by even greater problems. "

Opec and the dollar - Petroleum Economist - June 2008 - World

and........

"The Austrian theory of money, credit, and business cycles teaches us that there is no in-between Scylla and Charybdis. Sooner or later, the monetary system must swing one way or the other, forcing the Fed to make its choice. No doubt, Commander-in-Chief Ben Bernanke, a renowned scholar of the Great Depression and an adept Black Hawk pilot, will choose inflation. Helicopter Ben, oblivious to Rothbard’s America’s Great Depression, has nonetheless mastered the lessons of the Great Depression and the annihilating power of deflations. The Maestro has taught him the panacea of every single financial problem—to inflate, come hell or high water. He has even taught the Japanese his own ingenious unconventional ways to battle the deflationary liquidity trap. Like his mentor, he has dreamed of battling a Kondratieff Winter. To avoid deflation, he will resort to the printing presses; he will recall all helicopters from the 800 overseas U.S. military bases; and, if necessary, he will monetize everything in sight. His ultimate accomplishment will be the hyperinflationary destruction of the American currency and from its ashes will rise the next reserve currency of the world—that barbarous relic called gold."

http://www.energybulletin.net/node/12125
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Old 09-25-2009, 09:49 PM
 
Location: Great State of Texas
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You can bet Iran will be pushing OPEC to switch. Iran has also entered into a oil deal with China.
Who better a backer than a country with money and an appetite for power.

This is definitely something to keep an eye on.
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Old 09-25-2009, 09:59 PM
 
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Remember that the Saudi's have told the US that if iran moves into iraq after the US leaves they will act.The are sect enemies. The real powers in OPEC do not want a expanding iran influence in the region.
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