Iran Has Halted Oil Transactions In Dollars - It begins...

uscitizen

uscitizen

Villified User
Oil Min: Iran Has Halted Oil Transactions In Dollars -AFP

TEHRAN (AFP)--Major crude producer Iran has completely stopped carrying out its oil transactions in dollars, Oil Minister Gholam Hossein Nozari said on Saturday, labeling 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.

The world's fourth-largest oil exporter, Iran has massively reduced its dependence on the dollar over the past year in the face of U.S. pressures on its financial system.

http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20071208%5cACQDJON200712080440DOWJONESDJONLINE000007.htm&
 
Iran now joins Venezuela and Russia as oil producers who no longer accept the dollar in exchange for their oil. Iraq did the same thing and we attacked them for it. The warmongers thought they could use military force to compel the world to use our currency.

The Great Game .. and we're on the losing end of it.
 
It was cute how BushCo and their supporters used to chirp in about how regime change in Iran, Iran, and Venezeula was about democracy/terrorism/freedom; and not about protecting US economic hegemony, and the free flow and dominance of petro dollars
 
Cypress said:
It was cute how BushCo and their supporters used to chirp in about how regime change in Iran, Iran, and Venezeula was about democracy/terrorism/freedom; and not about protecting US economic hegemony, and the free flow and dominance of petro dollars
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Within 5 years there will be a mantra in the USA of "We deserve that oil so we will take it".
And all will be justified within their concience (sp?).
 
LMAO....again.........

like China has a very deep investment in Irans oil production...you really think they will support this...being that most of their money is tied to US Dollars...if they do they will go bankrupt along with us...!
 
I expect China to sell off as many US dollars as they can afford to. they can weather a downturn far better than the spoiled energy guzzling USA can.
2% of the worlds pop and burn 75% of it's energy....

China needs the oil more to grow than the US dollars.
 
wow is wow the stupidity level here is tapping the meter out.
China selling dollars opinion from USC may be the funniest thing I've read since the troll post from Deshtard and the recessionista's.
 
You seem to forget..........

uscitizen said:
I expect China to sell off as many US dollars as they can afford to. they can weather a downturn far better than the spoiled energy guzzling USA can.
2% of the worlds pop and burn 75% of it's energy....

China needs the oil more to grow than the US dollars.
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That Chinas economy is based exactly as the US is...on oil and US Dollars...what was your point again?
 
Battleborne said:
like China has a very deep investment in Irans oil production...you really think they will support this...being that most of their money is tied to US Dollars...if they do they will go bankrupt along with us...!
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China can divest dollars, and diversify into euros.

And here's a hanky for your tears: you voted for reagan and bush, the ones that thought creating deficits and massive debt was a great idea. And that financing trillion dollar wars in Iraq with borrowed money was a great idea.
 
castro cypress you prove you've never had a business class when you bash Reagan. Stick to give dogs proctology exams.
 
Battleborne said:
That Chinas economy is based exactly as the US is...on oil and US Dollars...what was your point again?
Click to expand...

My point is that if China has to choose between US dollars and oil, well the Dollar will lose. And if it causes them problems well they can survive it better than we can. We burn 75% of the energy burned in the world today...
 
I did................

Cypress said:
China can divest dollars, and diversify into euros.

And here's a hanky for your tears: you voted for reagan and bush, the ones that thought creating deficits and massive debt was a great idea. And that financing trillion dollar wars in Iraq with borrowed money was a great idea.
Click to expand...



I do believe that Billy Bob...claimed the positive while in office...albeit it was Reagan who put us in the black...the war on terrorism has drained the vault...both parties are equally guilty...Congress does control the purse strings...not the President...get a clue cippie!
 
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