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REPORT ABUSIVE REPLY
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Message Subject
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Breaking - China And Iran To Bypass Dollar, Plan Oil Barter System, And A Deeper Dive Into The Iranian Oil Bourse
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Poster Handle
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Anonymous Coward |
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Post Content
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"One of the more notable events in the past week was the previously discussed reopening of the Iranian Oil Bourse, an attempt by Iran to launch a venue that bypasses US sanctions against Iran which has prevented payment in the world’s reserve currency for Iranian goods. “Big deal”, some will say, this is not the first time Iran has attempt to upstage the Great Satan. Well, true, although as OilPrice said last week, “what it would take for Iran’s new exchange to survive and flourish are some heavy-duty customers that Washington would be wary of picking a fight with, and Tehran already has one – China… China, the world’s largest buyer of Iranian crude oil, has renewed its annual import pacts for 2011." Read more [ link to lonerangersilver.wordpress.com] Interesting. The trend is certainly away from the dollar, and more specifically the petrodollar. Barring a world war over these resources (and regimes), the petrodollar will be greatly diminished in twelve months. Why? Look at the trends. Even Russia (which is in the top 3 Oil Powers) has abandoned the petrodollar. The future of this resource lies with the Russians, Chinese and Iranians. It won't be too long before the Saudi's fall victim to the Arab Spring, along with Bahrain and Jordan. "You don't need a weatherman to know which way the wind blows" - Bob Dylan.
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