Is the Dollar Bottoming??

Discussion in 'Trading' started by PohPoh, Dec 8, 2007.

  1. amenofx


    maybe ...
  2. Realist


    Next major downleg in the DX resumes shortly imo...

    <B>Iran drops dollar from oil deals: report - 12/8</B>

    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.;_ylt=Ak1gnZ4etbmPMEeQ5raI9I134T0D

    If I recall, didn't the US invade Iraq just before Saddam moved to price all oil transactions in Euros?
  3. Because a pimple like Iran decides not to price oil in dollars?
    As the man said, the Brit pound is slogging through its own subprime mess. The euro backs an economy with subpar real growth and no prospects for having any anytime soon. And as John Dizard pointed out in the FT, Spain has its own enormous property mess, and will likely drag the euro down all by itself once it becomes obvious what a debacle their real estate market is. Not to mention, for icing, the eurozone's rapidly rising current account deficit with China.
  4. I agree, plus toss in France which is moving closer and closer to anarchy.

    Europe is a basket case long term due to socialism, muslims, and corruption.

  5. Right...Europe is a big pile of shit waiting to get drilled...
  6. Sobieski


    I agree. And I am a European.
  7. Buying Asian Currencies is prolly the way to go...
    not sure what I prefer, the Swissy or the Yen...

    The Pound looks terrible...