Congratulations. Your 5 year bet paid off. Dont overstay your welcome though....the DX wont be in the low 80 forever. The world will revolve..the sun will come up....and economies will cycle... Have a good holiday no matter what your religion! Time to go throw one back for old JC.
The American Empire depends on the U.S. dollar. The proposed Iranian Oil Bourse will accelerate the fall of the U.S. dollar and hence the fall of the American Empire. Do you brainiac realize you posted 1 year old article? Where is the fucking Bourse? Second, Iran is a nation which, besides producing completely nothing, is not even able to refine its own oil. They have to export and import it back for their own use. And this nation is going to "accelerate" fall of "American Empire" with its highly competitive multi-trillion economy. Even only for mental masturbation pictures of naked girls are much better than posting garbage like that.
http://business.timesonline.co.uk/tol/business/economics/article1263954.ece "Iran is selling more of its oil for payment in euros than dollars as it seeks to shift its foreign currency reserves away from the depreciating currency of its political enemy, the United States. The worldâs fourth-biggest oil exporter has inserted a clause in its oil contracts allowing it to request payment in alternative currencies. " http://www.iht.com/articles/ap/2007/03/28/business/AS-FIN-Malaysia-Iran-Oil-Dollars.php "Iran is planning to stop using the U.S. dollar to price oil, with less than half of its oil income now paid in the U.S. currency, Iran's central bank governor said."
Yawn is %100 right. The people who think that the demise of the USD is tied to what medium of exchange is used in ANY transaction have no useful grasp of Internation Finance. The concept is complete and utter juvenilia. QUOTE]Quote from indahook: Yawn.... The Iranians will no longer accept $`s the day the Euro has topped. Bet on it...I will. [/QUOTE]
Ok, well when Iran manages to force the Nymex to quote light sweet crude in euros or some other currency in lieu of dollars, they succeed.. otherwise, even if the US wants to buy iranian oil and they won't accept the dollar, the US can just exchange dollars for other currencies on the highly liquid forex market and pay w/ the exchanged currency. So instead of iran selling the dollars for euros on forex, the US will do it, that changes absolutely nothing. Or the US can tell iran to get fucked, and not buy their oil.
Iraq was a net importer of food at the time of the first Iraq war. All these guys with huge dreams of power and nothing going in the way of leadership are a joke.