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Iran dumps U.S. dollar for oil trades
edition.cnn.com — Iran, OPEC's second-largest producer, has stopped conducting oil transactions in U.S. dollars, a top Oil Ministry official said Wednesday, in a concerted attempt to reduce reliance on Washington at a time of tension over Tehran's nuclear program and suspected involvement in Iraq.
Anonymous777- 42 diggs
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- muckemuck, on 04/30/2008, -0/+4wow.. prepare for an attack on Iran.. or watch as other countries follow Iran in rejecting the dollar.
- was7310, on 05/02/2008, -0/+0yes
- rabidmonkey1, on 04/30/2008, -2/+4http://www.areweatwarwithiran.com/
The Iraq war started with Saddam dropping the dollar. Why can't we have a solution where the dollar doesn't lose value, so the oil owners don't feel the natural need to protect their assets, instead of blasting away everyone who doesn't submit to American military might?- cageybee, on 04/30/2008, -1/+1inflation brings money to US.
- muckemuck, on 04/30/2008, -1/+1so? .. our gas, food, and all that other fine imported junk that we have to buy goes up in price. And that money you have in the bank? It's devalued since that money buys far less than it used to.
- cageybee, on 05/01/2008, -2/+1the money comes after we buy from foreigners our imports and then devalue the dollar so that their purchasing power diminished.
- muckemuck, on 04/30/2008, -1/+1so? .. our gas, food, and all that other fine imported junk that we have to buy goes up in price. And that money you have in the bank? It's devalued since that money buys far less than it used to.
- cageybee, on 04/30/2008, -1/+1inflation brings money to US.
- cageybee, on 04/30/2008, -2/+2this happened in December 2007 and CNN is reporting it now as if Iran just now stopped dealing with USD???
- muckemuck, on 04/30/2008, -0/+1umm.. they threatened it in Dec 2007 like they had been for years, and said they were officially going to do this.. and now it's happened. At least that's what it looks like from here.
- cageybee, on 05/01/2008, -2/+1as far as i remember, there is even a source on wikipedie under "iranian oil bourse" that Iran has stopped accepting dollars in December - this is when Bush admin started the "Iran nuclear threat" propaganda.
- muckemuck, on 04/30/2008, -0/+1umm.. they threatened it in Dec 2007 like they had been for years, and said they were officially going to do this.. and now it's happened. At least that's what it looks like from here.
- lhbaker, on 04/30/2008, -1/+2This is why Bush has been playing up the Iranian threat. They have no nukes (according to every intelligence agency in the U.S.) and a navy of speedboats. Iran's oil bourse, by dropping the dollar, devalues it even further, and that hurts. They have every right to do so, but we'll find a way to stop it, whatever it costs in human lives. Bush's actions have cost the U.S. a lot more than credibility, he's also forfeited its influence around the world, and the price we pay will be measured in the lives of our soldiers.
- DaviDTC, on 04/30/2008, -0/+1Good timing. We are sending ships there now.
- GregoryGraham, on 04/30/2008, -0/+0It's all about timing...a ***** storm is coming
- Shots, on 04/30/2008, -2/+1The Greenback will no longer be the backing currency for a lot of things... this does not bode well.
The US dollar is very weak, but yet is still grossly overpriced.
Once countries lose confidence in the dollar... there's a chance that other countries start to dump the dollar too. The words freefall come to mind. - lewhich, on 05/01/2008, -1/+1This is the media's fault ... now we just have to attack Iran, but with a much worthless budget since we have to fuel our ships with Euros which just happen to be at an all time high ( ironically, the euro hasn't changed much, it is the dollar which is at an all time low .. if you doubt ask any Canadian)
- MrViklund, on 05/01/2008, -0/+1About time, really. The dollar it worthless these days.
- was7310, on 05/02/2008, -0/+0Good move
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