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Kizzume
Site Admin
Joined: 31 Dec 1969
Posts: 2782
Location: Tacoma, WA USA
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 Posted: Sat Dec 08, 2007 10:29 pm Post subject: Iran is dropping the dollar. What does this mean? |
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http://afp.google.com/article/ALeqM5jGC7KSKjsKYUTGAF1oR04-yOpBgg
| Quote: | Iran drops dollar from oil deals: report
20 hours ago
TEHRAN (AFP) ? Major crude producer Iran has completely stopped carrying out its oil transactions in dollars, Oil Minister Gholam Hossein Nozari said on Saturday, labelling the greenback an "unreliable" currency.
"At the moment, selling oil in dollars has been completely halted, in line with the policy of selling crude in non-dollar currencies," Nozari was quoted as saying by the ISNA news agency.
"The dollar is an unreliable currency, considering its devaluation and the oil exporters' losses," he added. |
Well, for one, it isn't looking good for the dollar.
Second, the last time an oil country in the middle east tried to do this, just a few months later Bush attacked that country--he attacked Iraq.
In this case, Bush has no real legitimate case to attack Iran, but I think he's still going to try to conjure of a way.
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