Iran drops the dollar.
By on Dec 8th, 2007 at 1:56 pm
Iran drops the dollar.
“Iran, the second-biggest producer of crude oil in the Middle East, has ‘completely halted‘ all oil transactions in dollars, the state-run ISNA news agency said.” Oil Minister Gholam Hossein Nozari said, “The dollar is an unreliable currency, considering its devaluation and the oil exporters’ losses.”
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ruh ro
December 8th, 2007 at 1:57 pmLooks like it is war.
-GSD
December 8th, 2007 at 1:58 pmBetter get your bicycle oiled up, if you can afford some oil.
December 8th, 2007 at 1:58 pmMission Accomplished!!!
We are now offically a 2nd tier nation!
December 8th, 2007 at 1:59 pmBush pulled his bully boy on Iran and this is the result. Good work George. The price we pay for oil is going to skyrocket and US oil companies are not going to be able to share in the profits.
December 8th, 2007 at 2:04 pmThanks, Dick & George! Is there anything you can’t ruin if you set your feeble minds to it?
December 8th, 2007 at 2:10 pmThis is what happens when you push a people to far. Are there bad people in Iran, sure, are there bad people in the U.S., yes, but you dont make up ish to go to war with anther country to please a certain group. And as for the German’s siding with the U.S. on Iran, why wouldn’t they, then everyone would forget that it was really they who caused the Holocaust.
Reg 5.51
Mid 5.71
Supreme First Born
RIP
December 8th, 2007 at 2:16 pmSGT Stephen R. Sherman
C CO 1-5 IN (STRYKER)
KIA 3 Feb 2005
Mosul, Iraq
That’s a double blow because one of our major exports is a piece of paper that the world exchanges real tangible goods and services for.
Iran is safe from us but I hope Chavez does not follow suit. He leads an oil-rich but non-Muslim country and he simply cannot afford a visit from the forces of Freedom and Democracy.
December 8th, 2007 at 2:18 pmFirst supermodels and now this..
December 8th, 2007 at 2:18 pmYou know what this means dont you? We must wage war on supermodels!!
[Heh]
December 8th, 2007 at 2:19 pmI suspect (or perhaps I just hope) that all the roiling water will settle down once GDumbya and Darth Cheney leave office. Once this long national nightmare is behind us, I think it will once again be possible to restore diplomatic relations with the rest of the world which have been so badly damaged by these two morons.
In order for that to happen, however, the value of the U.S. dollar will have to stabilize and rise a bit, too.
December 8th, 2007 at 2:22 pmNot long before we invaded Iraq, Saddam Hussein was about to change Iraq’s oil trading basis from the US dollar to the Euro. There was a little-covered news story about it. Bloggers predicted we would invade Iraq to prevent that change from happening.
This will have a serious effect on our economy.
Now Iran actually has changed from oil trading based on the dollar to “more stable currencies”. Will we invade Iran soon?
December 8th, 2007 at 2:35 pmNo need for islamic terrorists… The USA has Bush and Chenney destroying it for them! When will americans realize that this ilegal war has been waged on borrowed money!!!??? The US is going down… going down… going down…
December 8th, 2007 at 2:39 pmUS and what army? In the 40+ “wars” in the 60+ years since WWII when did we ever attack, or “defend ourselves from” a real armed country?
I predict the next “real and credible threat to our national security” will come from Venezuela. It’s a weaker oil-rich, and very importantly, non-Muslim.
December 8th, 2007 at 2:41 pmI’ll buy some Euros now!
December 8th, 2007 at 2:42 pm14 - you’re right again Frank - everyone should understand we went to war in Iraq to satisfy the Cheerleader-in-Chief’s ego - not because of some currency flap.
December 8th, 2007 at 2:53 pmGet ready for a $10 gallon of milk (at least)!
The cost recovery curve on hybrids just went way down — a month of new gas prices will about cover it now…
December 8th, 2007 at 2:58 pmAh yes. “Iraq dropped the dollar and we went to war†conspiracy theory. Silly, silly, silly…
Comment by Frank M — December 8, 2007 @ 2:40 pm
Facts are silly to the rightard morons who still think that Iraq was about to invade the USA.
December 8th, 2007 at 3:10 pmThis is a brilliant political move by the Iranians. The timing is perfect. However, it is possible that our proxy state, Israel, will take matters into their own hands, with the utmost support of the USA, of course. Scary times.
December 8th, 2007 at 3:18 pmCarter didnt send troops into Iraq Frank, and by securing the oil I dont think he meant doing it thru force but thru peaceful means.
December 8th, 2007 at 3:37 pm11. Comment by tom
December 8th, 2007 at 3:41 pmI think we blew it when we did not hold these guys accountable. To the rest of the world we are just as bad, bad not stupid as this kind of stupidity is unthinkable. There is still time… charge and punish these thugs… to the rest of the world, the more barbaric, the better.
#22: “Let our position be absolutely clear: An attempt by any outside force to gain control of the Persian Gulf region will be regarded as an assault on the vital interests of the United States of America, and such an assault will be repelled by any means necessary, including military force.†(Carter Doctrine)
http://en.wikipedia.org/wiki/Carter_Doctrine
Comment by Frank M — December 8, 2007 @ 3:38 pm
What outside force is trying to gain control here?
December 8th, 2007 at 3:41 pmI suspect (or perhaps I just hope) that all the roiling water will settle down once GDumbya and Darth Cheney leave office.
Comment by tom
If you think that the Zioninst/Globalist manipulation of the US won’t continue into the next administration, regardless of party, then you’re a complete fool.
That is if there is a next administration… read up on “NSPD-51″. One more well timed terrorist attack and things may get VERY interesting here in Amerika.
December 8th, 2007 at 3:41 pmFrank, it would be nice if you added the context:
Now, in a reverse Carter Doctrine, it is the U.S. which has invaded not one, but two sovereign nations in the Middle East.
December 8th, 2007 at 3:42 pmThere has already been a foreshadowing of an attack in the Persian Gulf which could be blamed on Iran.
I will be surprised if bombs don’t begin to fall before Christmas.
December 8th, 2007 at 3:45 pmAnd so goes the march towards drowning the American system of government in the bathtub…
December 8th, 2007 at 3:45 pm…not to mention our way of life.
December 8th, 2007 at 3:45 pmAh yes. “Iraq dropped the dollar and we went to war†conspiracy theory. Silly, silly, silly…
Comment by Frank M
Try reading up on Nixon and the “petrodollar” you stupid idiotic moron. What do you think gives that stupid paper in your wallet value after Nixon took us off the gold standard?
December 8th, 2007 at 3:46 pmAn attempt by any outside force to gain control of the Persian Gulf region will be regarded as an assault on the vital interests of the United States of America
I guess this doesn’t apply when the outside force trying to gain control is THE USA.
Maybe that’s why Bushco is destroying America, we’ve violated the Carter Doctrine!!!!!!!!!!!!!!!!!!!!!!!!!!!
December 8th, 2007 at 4:00 pmI believe you will find that Iraq wasn’t just considering changing to euros from dollars. They received permission from the UN to open a euro account for their oil sales at the end of Oct 2000. Post invasion we switched them back to the dollar. No doubt it isn’t the sole reason for the invasion, I’m sure it certainly was a factor. What will the US do when all of OPEC switches, as we know they have at least been discussing for several years now?
December 8th, 2007 at 4:07 pmWhat will the US do when all of OPEC switches, as we know they have at least been discussing for several years now?
Comment by onoclea
We’ll become a 3rd or 4th world country, just as Shrub has in mind.
December 8th, 2007 at 4:09 pmPGCC: no military option against Iran
The Persian Gulf states signal PGCC’s strong opposition to any military option against Iran over its nuclear standoff with the West.
“We want the military factor (against Iran’s nuclear program) to be eliminated, ” said the Secretary General of the Persian Gulf Cooperation Council (PGCC) Abdul Rahman al-Attiyah during a Saturday regional security conference in Manama.
Al-Attiyah voiced the Council’s support for dialogue as the means to resolve Iran’s nuclear case saying that the PGCC favored security and stability in the region.
The Qatari Foreign Minister Sheikh Hamed bin Jassem al-Thani called on Washington to engage in dialogue with Tehran to reach a solution over its nuclear dossier.
He described Iran as a significant regional player adding that being ‘pushed into a military confrontation with Iran’ would not be in the interest of the PGCC states.
The hawkish US officials claim that Iran remains a threat to the US despite a new NIE conceding that Tehran does not seek nuclear weaponry.
http://www.presstv.ir/
RUSSIA DONT WANT ANYTHING TO DO WITH ANYMORE SANCTIONS
amazing how even Liberals here are hinting at supporting war -
WAR IS NOW OFF THE TABLE
December 8th, 2007 at 4:19 pmIraqis traveling to Iran will pay for a visa in euros in line with other Iran Embassy locations.
December 8th, 2007 at 4:21 pmI think Saddam Hussein was planning similar action before we invaded him for those non-existent “WMDs.”
December 8th, 2007 at 4:40 pmThis is bad news for the US, and gives further motivation for Bush/Cheney to start something with Iran - even if it means a false flag sort of reason. Watch Israel.
Cheney’s pacemaker is going short circuit when he hears this news.
December 8th, 2007 at 4:47 pmI’ll buy some Euros now!
Comment by sacopenapa — December 8, 2007 @ 2:42 pm
I have Euros in my safe. I call it my “Casablanca” money. A way to get out of this country when needed.
How phu(ked up is that??
December 8th, 2007 at 4:50 pmLook for Venezuela to follow suit, followed by multi-national corporations such as Airbus.
December 8th, 2007 at 4:50 pmHey Frank - anyone can edit Wikipedia, you moron.
December 8th, 2007 at 4:53 pmBnF - I hope you have a Christmas surprise - no bombs on Iran.
December 8th, 2007 at 4:55 pmThis will give the administration some cover for the recession–but it is the administration’s fault for their incessant sabre-rattling and rhetorical attacks on Iran.
December 8th, 2007 at 4:59 pmHow well will the new reality of “America as Canada’s Mexico” sit with the Jingo crowd?
December 8th, 2007 at 5:00 pmIf we start dropping bombs not only will we be going to war with Iran, but Russia and China could align with them too because they are supplied oil from there. The war for oil just has to stop.
Had we gone the direction of Brazil years ago and readied ourselves to use alternative energy sources we would not be in such of a bind. Think how far the war money could have gone to changing the country over to renewable resources.
December 8th, 2007 at 5:09 pmWhat outside force is trying to gain control here?
Comment by Nat — December 8, 2007 @ 3:41 pm
If you read that completely, Carter was referring to the Soviet Union and their move into Afghanistan.
December 8th, 2007 at 5:12 pmBy Frannie’s reasoning, Iran must not be in the region.
Where is Iran, in South America?
December 8th, 2007 at 5:12 pmAh, the oldest trick of a troll; use a portion of a definition while denying alternatives which disprove their contentions. I’ll give that a 1, of 10, on the originality scale.
December 8th, 2007 at 5:16 pmAn interesting tactic. One challenge Iran will face is that the global spot markets for oil are still dollar-denominated. So it could prove largely symbolic.
On the other hand, if Venezuela or some of the smaller OPEC members followed suit, well then that would be strategic blow by Iran against US interests.
The problem for BushCo is that you can’t bomb ‘em back into the Dollar Age.
Heckuva job, Bushie!
December 8th, 2007 at 6:02 pmAdmittedly, much work will be made to try to peg this as an intentionable barb at the USA and possible act of economic agression.
However, there is also the very real possibility that this is a simple business decision. Many countries which have tied their currency to the dollar are re-evaluating.
The dollar just ain’t as stable as it was 8 years ago.
December 8th, 2007 at 11:14 pmMy understanding is that Iran essentially had no choice but to start moving out of Dollars a while ago because of the US imposed sanctions, which basically forced Iran to divest from the Dollar. I don’t believe that the Iranian business community is at all happy with this either, as I understand it, they would prefer to remain in Dollars so that they can be more connected to the global economy. But regardless of the pragmatism of the Iranian business community, there is a large anti-American base in Iran, and Ahmadinejad is clearly playing to this base saying, “Look - I’m so anti-American that I’m moving Iran away from the Dollar!” - but in reality, Iran is being forced to so, against it’s will - by us, no less.
It’s a convoluted game politics.
December 9th, 2007 at 11:13 amWhy should the dollar be the standard for the world? If what the conspiracy nuts say is true the Fed is run by international bankers in Europe, their losing the power of the dollar is in the end very good for the world.
December 10th, 2007 at 12:30 am