Iran to OPEC: Stop Oil Sales In Dollars

Discussion in 'Iran' started by Paulie, Apr 6, 2008.

  1. Paulie
    Offline

    Paulie Platinum Member

    Joined:
    May 19, 2007
    Messages:
    31,504
    Thanks Received:
    4,842
    Trophy Points:
    1,130
    Ratings:
    +15,316
    http://ap.google.com/article/ALeqM5hut5APs3h9sbxwxCxa0VrneoG8pgD8VSICH81

     
  2. Toro
    Offline

    Toro Diamond Member

    Joined:
    Sep 29, 2005
    Messages:
    50,699
    Thanks Received:
    11,042
    Trophy Points:
    2,030
    Location:
    The Big Bend via Riderville
    Ratings:
    +25,019
    Not going to happen.

    Iran effectively stopped accepting dollars for oil several months ago.
     
  3. Paulie
    Offline

    Paulie Platinum Member

    Joined:
    May 19, 2007
    Messages:
    31,504
    Thanks Received:
    4,842
    Trophy Points:
    1,130
    Ratings:
    +15,316
    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.
     
  4. Shogun
    Offline

    Shogun Free: Mudholes Stomped

    Joined:
    Jan 8, 2007
    Messages:
    30,495
    Thanks Received:
    2,224
    Trophy Points:
    1,043
    Ratings:
    +2,260
    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?
     
  5. Paulie
    Offline

    Paulie Platinum Member

    Joined:
    May 19, 2007
    Messages:
    31,504
    Thanks Received:
    4,842
    Trophy Points:
    1,130
    Ratings:
    +15,316
    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.

    [​IMG]

    [​IMG]
     
  6. ReillyT
    Offline

    ReillyT Senior Member

    Joined:
    Mar 2, 2005
    Messages:
    2,631
    Thanks Received:
    164
    Trophy Points:
    48
    Location:
    London, UK
    Ratings:
    +164

    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.
     
  7. Paulie
    Offline

    Paulie Platinum Member

    Joined:
    May 19, 2007
    Messages:
    31,504
    Thanks Received:
    4,842
    Trophy Points:
    1,130
    Ratings:
    +15,316
    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.
     
  8. Toro
    Offline

    Toro Diamond Member

    Joined:
    Sep 29, 2005
    Messages:
    50,699
    Thanks Received:
    11,042
    Trophy Points:
    2,030
    Location:
    The Big Bend via Riderville
    Ratings:
    +25,019
    The supremacy of the dollar will not be challenged for some time.

    All fiat currencies are being debased right now.
     
  9. Paulie
    Offline

    Paulie Platinum Member

    Joined:
    May 19, 2007
    Messages:
    31,504
    Thanks Received:
    4,842
    Trophy Points:
    1,130
    Ratings:
    +15,316
    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.
     

Share This Page