Iran stops selling oil in U.S. dollars

Oh Please, there is no mention of this on any mainstream business site. This means nothing. Once Saudi Arabia stops taking payment in dollars then maybe it will make the news.

I still find it amazing that people think the government didn't have a hand in this.

They have purposefully intimidated Iran and instigated all these problems we hear about. The President of Iran is a patsy. He, along with our President, is IN on the coming war... that's why he is happily playing the role of protagonist.

This isn't a surprise to our government, this isn't the government's fault because they are foolish and too quick to pick a fight etc. It is literally the design of the New World Order - governments are doing what they have been told to do.

I don't think the US will sit by and let Iran sell Oil in Euros. I think they will use Israel as the rebellious child that doesn't agree with the NIE. Israel attacks Iran, Iran retaliates against Israel and US troops in the area. US can now enter a state of war with Iran based on attacks on US troops. US then moves in, dumps the Euro in favor of the dollar as they did in Iraq.

I think the NIE was orchestrated to do exactly this. Bush and company are frustrated in movement on this new war front and their time is running out so they fabricate this NIE. Israel is told to attack soon after the release of the report based on their "own intelligence." The US can now go full scale once Iran retaliates against the US and Israel.

If I am not mistaken Iraq did start selling oil in Euros and soon after we attacked did we not? Then we went in and converted the Euro reserves to dollars and started selling oil in dollars once again. I think I read this on ATS somewhere?

If it does play out like this I wonder what the calculations are. Is the US considering what the rest of the world might do and more importantly what Russia may do in the event Israel and the US go at it with Iran? Will they sit it out? What would China say? How about Sera? Didn't they sign a mutual defense pact with Iran?

Originally posted by menjo2000
reply to post by dj05544

 

Actually, I am curious, why people think Cheney has ANYTHING to do with the gas prices??

Really, he does not have anything to do with it at all. But those who hate this administration because they felt jipped 8 years ago will blame everything on them. The fact is it’s the US being such a power in the world over the past 50 years that has caused this. The other major players in the world want to see a less powerful US in the world. They will do whatever they can to take us down a notch. However, they won’t go too far because a lot of their economies strength comes from a good US economy. The dollar will correct over the next few years IMO. Cheney I think does have a greedy agenda however, I don’t think he can regulate oil prices. Bush’s family does have an interest in the oil industry but i don’t have the energy to search for it, im sure a bush hater will post the links soon.


Also before anyone posts back just know, I don’t like this administration much myself. However, I also don’t like the way politics is played now in the US by everyone in politics bar none!! Therefore, I vote my conscience right now.

IMHO, every politician everywhere is only out for themselves or has a hidden agenda...... EVERY ONE! its become a who can make the other look the worst in the publics eyes, and not about, how can you provide for the American citizen??????

The US citizen is suffering because of rampant greed and egotistical behavior on the part of our ELECTED government.

Wouldn’t it be nice to see someone elected on their deeds and merits rather than their ability to smear their opponent better than the other person?

SO the bottom line is the US has a broken foreign policy. This is why IRAN is doing this. Its IRAN playing I told you so to the world and trying to piss the US government off at the same time. POLITICS (spit)


Just a thought




edit for spellin

[edit on 9-12-2007 by geemony]

Well let's review some of the items discussed in this thread shall we?

A year ago (December 06), Iran announces that it will stop using the dollar for oil transactions.

In March Iran announces 60% of payments are no longer in dollars and they cut their dollar reserves and announce they will issue Euro denominated bonds.

Later that same month, China starts paying Iran in Euros and a low level trade war starts between the US and China.

In July, Japan announces it will start to pay yen for oil "in the fall".

In September Iran announces 70% percent of payments are no longer in dollars.

Japan confirms it is paying yen for oil.

Greenspan announces that the Euro is on it's way to becoming a new reserve currency.

In October Iran announces 85% percent of payments are no longer in dollars.

OPEC (of which Iran is a leading member) announces they are studying a basket of currencies to pay for oil.

Iran now announces that the move away from the dollar is complete: Iran stops selling oil in U.S. dollars

Add to that the fact the Venezuela has diversified it's reserves and barters with oil and that Russia now sells oil for Rubbles and you have to wonder about the people who are clueless as to why the US dollar has lost 60% of it's value (relative to the Euro) in recent years. It's not just about sub-prime. The whole system is falling apart.

Ramifications are coming soon to a town near you.

Do some people still think that guns and bombs are the only way to wage war?
.

more background

Originally posted by Yarcofin

The main problem with gold is that it is heavy to carry and you risk getting your gold stolen if you are just walking around with it. It's also very hard to give exact change with gold. Very quickly a gold economy would start turning into a promissiary note system where you pay people to safeguard your gold. Then whenever you want to pay someone, you both have to go to the bank and physically give your gold to the other party. People will then start simply taking the certificates themself as payment. The bank already knows from history that not everyone is going to withdraw their gold all at once, so they will start lending out some of the "extra" gold. Now you have more gold in the economy than actually exists, and the terrible cycle starts all over again. It's also much easier to just print money than issue gold.

This is incorrect.

If we had our money "backed" by gold, we wouldn't have to physically carry gold around. The banks would hold gold in order to exchange the bills for gold and the currency would be linked to the gold standard.

The main reason why currencies are not backed up by gold is because it is very hard to grow economies when currencies are backed by gold because gold is a resource...and not an unlimited one at that. Fiat currency can be printed when the economy grows and more money is being used by everyone.

That is the beauty of fiat currency over gold backed currencies.

Everyone here is a great article on the current discussion. Pay attention to the 3rd and 4th paragraphs.

Trading oil in euros – does it matter?

www.energybulletin.net...

In response to this article...this is of no relevance.

Iran and the U.S. do not do business with each other and Iran does not have a large in say in what OPEC trades in.

With this said, the US dollar will never be rejected by Venezuela or Nigeria or Saudi Arabia or the UAE because the U.S. is their largest customer.

That is like you owning a business and telling your largest customer what they should do and putting restrictions on them.

Iran and Russia can trade their oil in any currencies they want...it is of little relevance to the U.S. Venezuela however, as much as Chavez hates the U.S., cannot follow suit.

Countires may start trading in Euros as well, especially if the dollar continues to decline, but they will not downright refuse to accept dollars.

People still think that we went in to Iraq for oil, we never got our oil there in the first place, second, when did America ever "take" anything?? Name one please =)

I used to think that simply about oil and wars. Back in 2001 I spoke with my sister about the invasion of Iraq, my argument was: "The war is going to cost America millions for starters, so it makes no sense to get involved. Secondly, I think someone would notice if they crated up a load of oil and shipped it back to America.

Hooboy, have I learned some things since then. First thing I learned is that the war in Iraq didn't cost anyone in the government a penny, only the taxpayer.

Second thing I learned is that the guys who make bombs bullets guns and airplanes and tanks etc etc etc, really love a good war. They make donations to the government, they fund election campaigns. This is cash for policy, the policy to go to war is being encouraged by the arms industry. I say encouraged because selling bullets to the military, bought with American tax dollars isn't the only reason to go to war.

Take a look at all the places America is rattling sabres with, all of them places rich in natural resources. Currenly Russia and Iran, and to a lesser extent Mexico. America will not attack a country it cannot rape for profit. Ever heard of Darfur and the genocide going on over there? That is a bigger issue than Muslims, or the whole Iranian farce, but America wont get involved in a million years because they cant make money from it.

The third thing I learned, and am still learning is about oil. Oil is never simply crated up and shipped, taken, stolen, however you want to say it. What happens is that the way it is sold to the US changes. As the oil crisis gets worse, those holding the oil can charge however much they want for it. America doesn't want to to be "over a barrel" (pun intended) when the crude hits the fan.

[edit on 9-12-2007 by unnamedninja]

reply to post by Gools


The Art of War comes to mind.

Still let not forget that our own policies as a nation contributes to our own downfall when it comes to free trade.

Since 2000 we have lost our industry at record pace, bringing the question of what will our children will have to deal with in a nation of debt.

Also the 9 trillion dollar deficit is a big contributor of our dollar losing its status as the worlds reserve currency.

Very soon no nation will want the dollar because they do not want to become losers in business deals and that include the rich oil nations.







[edit on 9-12-2007 by marg6043]

reply to post by dj05544


This is the best post I have ever read. Congrats, Sir.

Originally posted by RetinoidReceptor
The main reason why currencies are not backed up by gold is because it is very hard to grow economies when currencies are backed by gold because gold is a resource...and not an unlimited one at that. Fiat currency can be printed when the economy grows and more money is being used by everyone.

That is the beauty of fiat currency over gold backed currencies.

Fiat currencies are used to create Inflation. Inflation is a hidden tax discovered by Monarchs in Europe centuries ago to keep the populace from rioting over high taxation. They print more money, the money in your bank account becomes worth less. Voyla! You've been taxed and didn't even know it. Taxation without Representation indeed. I fail to see the 'beauty' in that!

i saw this coming months ago... what a suprise... i actaully put it in a post somewhere on here that this would happen eventually, next year things are going too get very very bad... economic collapse is not the worst of it... there is going too be a nuke attack on the US... i can pretty much gaurantee

It isnt gonna come down to our economy sinking they will just continue as they are and sell our country....Soon people will be paying tolls on our roads and highways to Suadi's,Europe etc..Maybe even Iranians...Our no good politicians will do anything to make more money and I definetly do not see us going into Iran at this point it would be political suicide for anyone in office now.....They like power to much....

Originally posted by Yarcofin
Well, maybe not big piles... the problem might actually be the opposite. Try accurately measuring out $5 from gold, when it's at nearly $800 an ounce. $5 in gold would be 1/5th of a gram or something ridiculous. Most digital scales can't measure in less than 1 g increments. Everyone would have to carry around super-accurate pocket scales of some kind. Any purchase under $100 you'd basically be paying with gold dust. With such small particles you're bound to lose a little here, a little there, every time you take it out. And god forbid you open your gold pouch on a windy day

.

[edit on 12/9/2007 by Yarcofin]

I guess that's where silver comes in

"Hallberg Rassy" said: "The middle east views the USA as invader with good reason. Russia see's its historical rival sweating, and China see's its future rival in a vulnerable position. Russia with Iran and Venezuela can bring the US to its knees, if China begins to sell off its USD reserves, then America is in spiralling depression. there is no ground floor." This is a very tight, sharp reading of the possible scenario that might occur, imo. well said. If this comes about we're in big trouble, the US, Europe and the rest, I live in little old Ireland we are so ultra dependent on US multinationals/ pharma giants, we've sold our souls to them many years ago, we've all become so reliant on the s***** system that exists.Half of me dreads the scenario happening, the other half longs for it because, if the world bank, the imf etc are not disempowered we're in trouble anyway. Maybe this is what we need. Go for it Hugo, get that ball rolling.

reply to post by Mdv2


I am very curious as to where this excerpt youve taken derives from. I was wondering if it came from "Confessions of a Economic Hit man" or if it does not could you provide me with the source information. It would be much appreciated.
Thank You
BirchTree

reply to post by unnamedninja


I agree with about half of what you said and tha is totally true.
Where I think you might be going wrong here is Darfur. I will be willing to bet, which I do not do often if America gets a Democratic President, no matter what is happening anywhere else, we will be involved somehow. The reason WhiteHouse and Pentagon are not involved now is Somalia. In Somalia we went in with an ambiguous other than war military operation that as everyone knoes now was a cluster at best. Second comment to you is learn a little more about the oil thing, One way is to take The OPEC home page at face value. I know, I know but they do provide you with a FAQ list that does answer some basic questions and explains a little on their history and operation. In fact I think everybody could prob use a little bit of that knowledge to enhance their POSTS here at ATS.

Originally posted by Perplexed
I don't think the US will sit by and let Iran sell Oil in Euros. I think they will use Israel as the rebellious child that doesn't agree with the NIE. Israel attacks Iran, Iran retaliates against Israel and US troops in the area. US can now enter a state of war with Iran based on attacks on US troops. US then moves in, dumps the Euro in favor of the dollar as they did in Iraq.

I think the NIE was orchestrated to do exactly this. Bush and company are frustrated in movement on this new war front and their time is running out so they fabricate this NIE. Israel is told to attack soon after the release of the report based on their "own intelligence." The US can now go full scale once Iran retaliates against the US and Israel.

If I am not mistaken Iraq did start selling oil in Euros and soon after we attacked did we not? Then we went in and converted the Euro reserves to dollars and started selling oil in dollars once again. I think I read this on ATS somewhere?

If it does play out like this I wonder what the calculations are. Is the US considering what the rest of the world might do and more importantly what Russia may do in the event Israel and the US go at it with Iran? Will they sit it out? What would China say? How about Sera? Didn't they sign a mutual defense pact with Iran?

And here it begins....
www.ynetnews.com...

If Iran starts trading oil in Euros, that in and of itself is no big threat. It would be more worrisome if all the OPEC countries followed suit.

There are three things happening to the American economy all at once: our currency is being devalued, the price of oil is going up, and the bottom is falling out of the sub-prime market. Add to that the fact that we have two wars that are being financed with debt. These things have never hapened simultaneously before, so no one knows for sure what the cumulative effect will be. It doesn't look good.