Iran prepares to sell OIL IN EUROS! Won´t be long now...

Did you check out Wul´s thread on Iran buying 29 air defense systems from Russia? Snubbing their noses at Israel for sure.

Israel Vexed by Russia-Iran “Defensive” Arms Deal

[link to www.mosnews.com]

>>Needless to say, the current petrodollar system greatly benefits the US; it enables it to effectively control the world oil market as the dollar has become the fiat currency for international trade.

In terms of its own oil imports, the US can print dollar bills without exporting commodities or manufactured goods as these can be paid for by issuing yet more dollars and T-bills.



George Perkovich, of the Washington based Carnegie Endowment for International Peace, has argued that Iran´s decision to consider invoicing oil sales in euros is "part of a very intelligent strategy to go on the offense in every way possible and mobilise other actors against the US."



This viewpoint however, ignores Iran´s economic motives, just because the decision, if eventually taken, displeases the US does not mean that the rationale is purely political.



In light of such sentiments and the US´s current insistence that Iran be referred to the UN Security Council Iran must consider and weigh carefully the economic benefits against the potential political costs.

Although a matter of conjecture, some observers consider Iran´s threat to the petrodollar system so great that it could provoke a US military attack on Iran, most likely under the cover of a preemptive attack on its nuclear facilities, much like the cover of WMD America used against Iraq.<<

[link to english.aljazeera.net]

There goes the neighborhood.

The Bushbots won´t be smiling about this.

Time for plan B, eh Neo Cons?

I wonder what plan B is?

FYI, I´m no Bushbot. What this means on a global scale is stay safe, watch your back, trouble lurks ahead.

It´s just one of the measures to oust that bushyCo cabal from power.

Relax people, all will be good after.

>>Although a matter of conjecture, some observers consider Iran´s threat to the petrodollar system so great that it could provoke a US military attack on Iran, most likely under the cover of a preemptive attack on its nuclear facilities, much like the cover of WMD America used against Iraq.<<


Oh-oh. I don´t like the looks of this at all.

It´d be a smart move on the part of Iran, but I´m afraid the neocons are crazier than shit house rats...and they´re liable to do the unthinkable - just to take down the rest of the world with them.

<---I was looking for that earlier

to be clear, just the emoticon.

Howdy there Meanders!

(snip)

Other potential dangers surround the fate of common stocks and real estate. Despite their recent impressive strength, equities may shortly experience a continuation of their secular Bear Market decline. Numerous indicators are signaling warnings of their impending weakness. Additionally, the housing market may be taking a breather, but the future of its Bull Market appears tenuous at present. If either of these markets soften substantially, it has the potential to snowball and not only damage the underpinnings of the other, but also the general economy. Additionally, how long will the rest of the world continue to desire the fiat dollars that our Federal Reserve System creates at will? Given our unsustainable balance of trade, payments, and budget deficits, the United States NEEDS the rest of the world to continue to accept our dollars and purchase our Treasuries. If they eventually rebel, it will devastate our economy and unleash a likely inflationary firestorm when their dollars return to our shores.



[link to www.321gold.com]



great read people

3807 .... Plan "B" for the neo-coms is to buy more gold, and take delivery in their shelters.

Oh, yes ! Leave someone behind to push the nuke buttons.

This IS the begining of the end for the dollar, otherwise. Just MHO>

Eagle

The US´ ability to purchase cheap oil is based on ther deal they have with the Suadi group.

Do some research. EVERYTHING else the have to buy at spot prices. US dealers have driven these prices up to ensure supplies. These dealers making thenselves important to those that know nothing as they appear all powerful.

Have you ANY idea how much oil the US imports?

You´d be surprised how little. Oh, unless you read only BS on the web.

Yes, the US IS a major factor in the oil market, but the idea, an old one BTW, that Iran sells in Euros is a problem is pure internet paranoid bullshit.

and overnight market in spot gold up 2.50

Anders,

Thanks for this post. I hadn´t heard any public statements like this.

Chavez would likely follow siut. They probably have it all planed out, in fact I´d be surprised if they didn´t.

This will force the neo-con´s hand. They might have to attack Iran without time to do another 911 and set domestic sentiment levels...

This is a BIGGIE!

BS. If Anders, or any of you sensationalist paranoids could explain, without C and P, why Iran selling oil in Euros would cause a US invasion, I´d love to hear it.

NO C/P mind!

SPOT MARKET IS OPEN
closes in 17 hrs. 12 mins.
Dec 04, 2005 20:18 NY Time
Bid/Ask 506.30 - 507.10
Low/High 502.90 - 507.60
Change +3.40 +0.68%
30daychg +43.30 +9.35%
1year chg +56.40 +12.54%

Spot on Anders.

This Iran multi-currency trading will be the death of the dollar and of us all.

This is what tipped the balance for Greenspan IMO.

bumpity!

Greenspan has been a liability for ages...

i am not wasting hours on the petroeuro here

i have posted dozens of times about it at glp

I am amazed at the shortsightedness that I read here. I know there are a lot of international posters here at GLP but what I don´t understand is the blatent disreguard for America´s interests from her own citizens. I will listen to multinational posters but do you who call America your home believe all you read here, do you want the distruction of our way of life?

And there in lies the problem Bear, "your way of life"



Greed is one of the deadly sins....

Bear - the shrub has SERIOUSLY undermined us all in this little game of strategery! (lol)


He could have diplomatically gone to the table with these people and worked out a rational trade, but no...he decided to blow the hell out of them all and put US in the middle of it...

F*** Them....they wanted this war, now they got it!~

@5815

When "your way of life" neccessitates deep suffering others, then surely you ought to examine your way of life" and see if there is another way forward.

@5815

When "your way of life" neccessitates deep suffering for others, then surely you ought to examine your way of life" and see if there is another way forward.

The promotors of the grenbacks as well as the euors are the same gangs.

The best solution would selling oil for gold but again the gold producing countries should disband the dollar/euro as a pricing instrument which brings us back to barter and counter trade economy which is better gthan the existing capitalist structure that is sucking the resources of many countries through artificial financial markets that are manipulated any time at will.!!!

I hope it really is oil?