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View Full Version : Iran dumps U.S. dollar for oil trades



Hans
04-30-2008, 10:18 AM
Just as many have predicted in the past, the good old US dollar is being retired.

Iran, OPEC's second-largest producer, has stopped conducting oil transactions in U.S. dollars, a top Oil Ministry official said Wednesday, in a concerted attempt to reduce reliance on Washington at a time of tension over Tehran's nuclear program and suspected involvement in Iraq.

Oil is priced in dollars on the world market, and the currency's depreciation has concerned producers because it has contributed to rising crude prices and eroded the value of their dollar reserves.

U.S. banks are prohibited from conducting business directly with Iran, and many European banks have curbed their dealings with the country over the past year under pressure from Washington.

However, the U.S. has been wary of targeting Iran's oil industry directly, apparently worried that such a move could drive up crude prices that are already at record levels.

http://www.cnn.com/2008/BUSINESS/04/30/iran.oil.ap/index.html

GenX
04-30-2008, 03:54 PM
Iran???

Not Iran!!!!????


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Hans
04-30-2008, 05:48 PM
Yes, second largest OPEC producer in the world. Let's see who wins : oil or the greenback.

GenX
04-30-2008, 05:49 PM
We don't need Middle East oil. We have a lot we can drill for, once we get the socialist Democrats out of the way. And, if push comes to shove, we'll just take your oil.

What are you going to do, throw poutine and hockey sticks at us while we invade?

Hans
04-30-2008, 05:50 PM
Sometimes, you are so dumb it's mind boggling.

GenX
04-30-2008, 05:52 PM
A nerve has been struck!!

Hans
04-30-2008, 05:56 PM
Why? You honestly think we pay attention to your nonsense?

GenX
04-30-2008, 06:01 PM
You await patiently for me to get here. You guys are constantly monitoring this site to see when I show up.

When I get here, the number of views skyrocket.

I post, you guys go berserk, angered beyond belief how I proved you wrong yet again.

Then, I leave, on my terms, when I want. You guys can't do so, because you stick around, and wait to see what I do.

I dictate the terms around here.

I win. /ubbthreads/images/%%GRAEMLIN_URL%%/smile.gif

Hans
04-30-2008, 06:11 PM
How does that song go again? Keep on smiling!

GenX
04-30-2008, 06:12 PM
Watching Barney again today before work?






Oops, I'm sorry, that was incredibly rude of me.

I assumed you worked for a living.

Hans
04-30-2008, 06:13 PM
Nah, police told us we had to go home and not come back for the rest of the day. Read the soapbox section.

GenX
04-30-2008, 06:14 PM
I did. It said a collage might have a bomb in it.

Do you know what a collage is, Hansy?

Hans
04-30-2008, 06:16 PM
I assume the one who started that post was referring to Sault College. He made a spelling mistake.

GenX
04-30-2008, 06:24 PM
Yess, hee maid a mustayke.

Hans
04-30-2008, 06:25 PM
Just like you do once in a while.

Hans
04-30-2008, 06:26 PM
Proof you are human, although in your case that's hard to believe.

GenX
04-30-2008, 06:28 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Hans</div><div class="ubbcode-body">Proof you are human, although in your case that's hard to believe. </div></div>

Same thing Adi said to me, after we...

...errr, umm,...err...how was work today, buddy?

Hans
04-30-2008, 06:29 PM
Doh, had to go home for the rest of the day, remember?

GenX
04-30-2008, 06:31 PM
Mental breakdown?

Hans
04-30-2008, 06:32 PM
No hockey training tonight?

GenX
04-30-2008, 06:33 PM
Yup, real soon!

Go Philadelphia!!!

KDawg
04-30-2008, 06:33 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Hans</div><div class="ubbcode-body">Just as many have predicted in the past, the good old US dollar is being retired.

Iran, OPEC's second-largest producer, has stopped conducting oil transactions in U.S. dollars, a top Oil Ministry official said Wednesday, in a concerted attempt to reduce reliance on Washington at a time of tension over Tehran's nuclear program and suspected involvement in Iraq.</div></div>

Despite what RWGR says, this is a major blow to the U.S. dollar as a reserve currency. The strength of the U.S. dollar in recent decades can be directly attributed to the fact that oil was traded in greenbacks.

This move alone is enough to guarantee a military attack.

Hans
04-30-2008, 06:35 PM
Just remember which Belgian made this prediction months ago.
I also predict the Euro is going to take over where the US dollar is failing.

GenX
04-30-2008, 06:35 PM
Hey! It's K Dawg!

The same K Dawg that told us a U.S. attack on Iran was going to happen two months ago!

Hans
04-30-2008, 06:36 PM
Patience son, patience.

GenX
04-30-2008, 06:36 PM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">
This move alone is enough to guarantee a military attack. </div></div>

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I didin't even see that line when I first posted!
/ubbthreads/images/%%GRAEMLIN_URL%%/rofl.gif

Just like clockwork!!

Hans
04-30-2008, 06:37 PM
Just have patience, the US is currently low on available troops.

GenX
04-30-2008, 06:37 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Hans</div><div class="ubbcode-body">Patience son, patience. </div></div>

What is Canada going to attack? A family of caribou?

Hans
04-30-2008, 06:37 PM
We have no problems with Iran.

GenX
04-30-2008, 06:39 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Hans</div><div class="ubbcode-body">We have no problems with Iran. </div></div>

They are one of the most theocratic and ruthless regimes around.

Good foreign policy, Canada.

Hans
04-30-2008, 06:41 PM
Ottawa to give an extra $50 million for food aid

That's what we do.

http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20080430/food_aid_080430/20080430?hub=World

GenX
04-30-2008, 06:43 PM
Yup, just like the UN official said last week!

Hans
04-30-2008, 06:43 PM
Are we running out of steam?

GenX
04-30-2008, 06:46 PM
I'm sure we are, it's just one more crisis for you doom n gloomers to perpetuate.

Hans
04-30-2008, 06:47 PM
How deep. You must have found the bottom of that bottle.

GenX
04-30-2008, 06:49 PM
This is the point where we know you're toast. You make even less sense than when you got here...which is utterly amazing in itself.

Hans
04-30-2008, 06:50 PM
Your love for perpetuation of the inevitable is amazing even your staunched enemy.

GenX
04-30-2008, 06:53 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Hans</div><div class="ubbcode-body">Your love for perpetuation of the inevitable is amazing even your staunched enemy. </div></div>

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Well said!

Hans
04-30-2008, 06:54 PM
Well thank you, I knew you would not understand a word of it.

KDawg
04-30-2008, 07:16 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: R W G R</div><div class="ubbcode-body">Hey! It's K Dawg!

The same K Dawg that told us a U.S. attack on Iran was going to happen two months ago!</div></div>

Find for me the post where I put a date on a war with Iran. I will ask you to stop putting words in my mouth.

Just so you know, RWGR, this is not a TV show. World events don't need to be wrapped up by the 11 o'clock news. Global geopolitics is much more complicated than that.