http://ap.google.com/article/ALeqM5h...oG8pgD8VSICH81

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"If you analyze it I believe the very heart and soul of conservatism is libertarianism. The basis of conservatism is a desire for less government interference or less centralized authority or more individual freedom and this is a pretty general description also of what libertarianism is."

-Ronald Reagan

Not going to happen.

Iran effectively stopped accepting dollars for oil several months ago.

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The empiricist will change his opinion in light of contrary evidence. The ideologue will retain his opinion despite contrary evidence.

Saudi Arabia knows better. They wouldn't dare break their agreement they made with the US to trade oil in Dollars in exchange for military protection.

Just figured I'd post this though, so that some of the members here can see what OTHER things Iran is doing that have been pissing off the administration these days.

It's not just about nuclear weapons programs and threats to annihiliate other countries.

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"If you analyze it I believe the very heart and soul of conservatism is libertarianism. The basis of conservatism is a desire for less government interference or less centralized authority or more individual freedom and this is a pretty general description also of what libertarianism is."

-Ronald Reagan

hey.. If I were iran and dealing with the shit from the west in this post-invasion world you are damn right i'd make the same suggestion. Why the hell should they keep the dollar as a monetary standard given the treatment they've been given the last 8 years?

Not just that, but why should any of the OPEC nations be forced to sell their #1 export in a currency that is losing its ass?

Those nations practically have NOTHING without their oil to export. If I was any of them, I'd want to get the most value for my exportation.

But they all have a gun barrell stuck down their throats to keep them from bucking the system. The Saudis, Kuwaitis, UAE, Qatar, Jordan, etc made nice with us instead, and now they get our military protection in exchange. Iran and Venezuela chose not to go that route, and they'll eventually pay the price in bombs.

If you notice, oil seems to be pegged to the price of gold. They both seem to be trending the same. OPEC adjusts their output to keep their oil priced high enough to compete with the inflation that WE'RE exporting to all of THEM.

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"If you analyze it I believe the very heart and soul of conservatism is libertarianism. The basis of conservatism is a desire for less government interference or less centralized authority or more individual freedom and this is a pretty general description also of what libertarianism is."

-Ronald Reagan

The Euro zone is tearing itself apart over to lower interest rates (Spain) or raise interest rates (Germany). The possibility exists that they may call the whole thing off in the next few years, in which case the dollar is the only game in town.

Don't count out the Renminbi. China will soon have all the capabilities of militarily protecting their currency as we do. Something that can not be said for any nation in the EU.

I don't trade forex, but if I did, I'd be owning more Renminbi than Dollars.

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"If you analyze it I believe the very heart and soul of conservatism is libertarianism. The basis of conservatism is a desire for less government interference or less centralized authority or more individual freedom and this is a pretty general description also of what libertarianism is."

-Ronald Reagan

The supremacy of the dollar will not be challenged for some time.

All fiat currencies are being debased right now.

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The empiricist will change his opinion in light of contrary evidence. The ideologue will retain his opinion despite contrary evidence.

I don't see why it's so out of the world to think that countries may at least start selling in a basket. Why not diversify yourself when the dollar is doing so poor right now, and you can obviously see that the US isn't going to be doing anything anytime soon to stop inflation.

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"If you analyze it I believe the very heart and soul of conservatism is libertarianism. The basis of conservatism is a desire for less government interference or less centralized authority or more individual freedom and this is a pretty general description also of what libertarianism is."

-Ronald Reagan