Iran begins to drop USD for EURO

Wow this is some pretty big news!  Iran begins exchanging their dollar reserves into the Euro.  It will be interesting to see if this continues to include oil being priced in dollars.  Many have speculated that this is what would lead to war.  The replacement of the USD to another currency in the oil markets.  

Let's hear the insight!

here is the article

Comments

[f250]

If Iran wants to sell its oil in Euros, thats fine isn't it? If Iran wants to put the price up,that fine isn't it? Thats free trade isn't it?

[Dave]

Iraq did this in year 2000. Read the book Petrodollar Warfare. The big boys behind the scenes can't handle oil being sold for anything but dollars.

I wonder when an attack will be "staged" and blamed on Iran?

[glenn]

Hey, this will lead to some kind of escalation against Iran if we can pull it off. since WW2, oil, the commodity of commodities has been priced in dollars because we made it that way, and well, we were the hegemon. Saddam was the first guy to try to do this and we all know how he ended up, even after being our biggest bestest buddy in the ME along with Israel.

This reality is now changing. Bottom line if you refused to play with dollars in the past then there would be sanctions and other sticks to enforce compliance. Yes folks the American dollar is propped up by one thing, and it is a big thing. The promise of DEATH! Via US military intervention if necessary. Things are going to change if we cannot maintain this fear factor. We either change, or in my opinion expect more war. War "fixes" all kinds of economic screw ups and if successful really puts the bite on your competitors.

[dt0x75]

Hey MoT.....This is what Iraq started doing in 2000. I wonder if we will attack Iran over this. You cant betray the all mighty US dollar without the Federal Reserve throwing a hissy fit. Lets see if the threats against Iran kick up again in the media. If it does we will know why.

[Kevin]

Yawn.

[Painful Truth.]

Time for bed Kevin? Just remember to wake up before the alarm, because well, by then expect to be late to the party. Set your alarm back a few hours, could help.

[Doug]

I hear the distant sound of cannons!

[Anonymous]

Where can I find the Harvard tank top T-shirts? I can't find any at The Harvard Shop in Cambridge.

Thanks.