Powered by Blogger.

Bullets, Beans


Monday, 13 February 2012

Iran presses ahead with dollar attack

Iran presses ahead with dollar attackLast week, the Tehran Times noted that the Iranian oil bourse will start trading oil in currencies other than the dollar from March 20. This long-planned move is part of President Mahmoud Ahmadinejad’s vision of economic war with the west.

“The dispute over Iran’s nuclear programme is nothing more than a convenient excuse for the US to use threats to protect the 'reserve currency’ status of the dollar,” the newspaper, which calls itself the voice of the Islamic Revolution, said.

Iran has the third-largest oil reserves in the world and pricing oil in currencies other than dollars is a provocative move aimed at Washington. If Iran switches to the non-dollar terms for its oil payments, there could be a new oil price that would be denominated in euro, yen or even the yuan or rupee....more

No comments:

Post a Comment

Alternative Media

Miscellaneous/New Blogs

A Refreshing note

If the RSS feeds have not 'refreshed' since your last visit scroll down to the post below the Bullion feed and click the post link. This should refresh the RSS feeds.