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

Superfreak said:
yeah, like that 4.8% growth he keeps harping on. Acting like the past quarters growth somehow dictates what the future growth will be.
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as I recall about 3.6% of that growth was due to a surge in exports due to the weak dollar. So other than an export surge we had 1.2% growth ?
 
uscitizen said:
as I recall about 3.6% of that growth was due to a surge in exports due to the weak dollar. So other than an export surge we had 1.2% growth ?
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I am not sure of the exact breakdown, but I would guess and say that is probably close. Maybe a bit conservative.
 
LadyT said:
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And we can move our money to overseas accounts and buy foreign currency. That's my longterm investment strategy. I personally plan on investing in some Euros, Swiss Franks, Yen and Aussi $'s.
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If I know you and your Chavez-loving ways, you'll be investing in Venezuelan Bolivars.
 
LadyT said:
Not that I think the dollar is headed toward a zero value, but if it did happen currency across the US would be exchanged with foreign notes. Barring some cataclysmic (sp?) event that would have not been forseen by anyone, it would be a gradual and predictable event.

And we can move our money to overseas accounts and buy foreign currency. That's my longterm investment strategy. I personally plan on investing in some Euros, Swiss Franks, Yen and Aussi $'s.
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Yeah, you sort of sound like toppy here. Never argued there are not ways to avoid it. But not all are able to do this and the damage to the economy is still severe. Further, there are legal tender laws.
 
RStringfield said:
Yeah, you sort of sound like toppy here. Never argued there are not ways to avoid it. But not all are able to do this and the damage to the economy is still severe. Further, there are legal tender laws.
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if you have money in a bank account you're able to do this. Whether or not you know how or would know when to do it is a separate debate.

LOL like laws have stopped people before.
 
LadyT said:
if you have money in a bank account you're able to do this. Whether or not you know how or would know when to do it is a separate debate.
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That's the debate. There is no single point where all can jump safely to foreign currencies. The sale off will speed the decline and many will be caught holding the bag.

Now if you want to be retarded like toppy and claim that it's all okay so long as you are not one of "the winners," then that's fine. But I am interested in discussing economics not investment plans and finance that dumbshits (toppy not you) confuse the subject as being. Economically it will be devastating and many will lose wealth.

LadyT said:
LOL like laws have stopped people before.
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Stop! Haha, I don't think you understand. When your employer or some other debtor pays you in greenbacks wll see if the law stops anything. Now you can renegotiate with your employer and I am sure that would happen quickly, but you will likely out of a job by shortly thereafter.

And if the state decides to get a little more rough on its interpretation the renegotiation might not even be possible.
 
blackascoal said:
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.
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Congrats on coming up with your own conspiracy theories. This will continue to happen until we halt the spending habits of the dims, which are driving us bankrupt, devaluing our currency.
 
The sprnding habits of the dems and repubs are the only thing keeping the economy afloat. Sad to say butt true.
 
uscitizen said:
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&
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I have to give you props USC. This was an excellent topic and provoked much debate. I thought you only posted stupid one-liners, or so rumour has it? What the hell are you doing posting anything of substance? :)
 
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