Dec 09

Stumble!

Source: http://rawstory.com/news/afp/Iran_drops_dollar_from_oil_deals_re_12082007.html

Don’t know how known/reliable rawstory.com is, so here’s another site validating the same news:
http://www.tehrantimes.com/index_View.asp?code=158 … 

Major crude producer Iran has completely stopped carrying out its oil transactions in dollars, Oil Minister Gholam Hossein Nozari said on Saturday, labelling the greenback an “unreliable” currency.

“At the moment selling oil in dollars has been completely halted, in line with the policy of selling crude in non-dollar currencies,” Nozari was quoted as saying by the ISNA news agency.

“The dollar is an unreliable currency, considering its devaluation and the oil exporters’ losses,” he added.

The world’s fourth largest oil exporter, Iran has massively reduced its dependence on the dollar over the past year in the face of US pressures on its financial system.

The United States has successfully encouraged major European and Asian banks to cut their dealings with Iran in a bid to make the Islamic republic give way on its controversial nuclear programme.

Washington has also blacklisted major Iranian banks for alleged support of terrorism and seeking nuclear weapons, charges denied by Tehran.

Iran has reduced its assets in dollars held in foreign banks and urged OPEC to take collective action to price oil in other currencies such as the euro, instead of the US currency which is used across the world at present.

The fall of the dollar, which has weakened considerably against the euro and other currencies in the past 12 months, has affected the revenues of OPEC members because most of them price and sell their oil exports in the US currency.

“get outta my way … let me press that f’n button … let me go, G-dammit …”


BIG MISTAKE AMADEEMAJHAD! You will be butt fucked by george bush very very soon. Don’t fuck with our money. F-16’s, stealth bombers and 150,000 troops knocking on your door motherfucker.


By Ed Haas
January 28, 2006
NewsWithViews.com
In November 2000, Iraq stopped accepting U.S. dollars for their oil. Counted as a purely political move, Saddam Hussein switched the currency required to purchase Iraqi oil to the euro. Selling oil through the U.N. Oil for Food Program, Iraq converted all of its U.S. dollars in its U.N. account to the euro. Shortly thereafter, Iraq converted $10 billion in their U.N. reserve fund to the euro. By the end of 2000, Iraq had abandoned the U.S. dollar completely.Two months after the United States invaded Iraq, the Oil for Food Program was ended, the country’s accounts were switch back to dollars, and oil began to be sold once again for U.S. dollars. No longer could the world buy oil from Iraq with the euro. Universal global dollar supremacy was restored. It is interesting to note that the latest recession that the United States endured began and ended within the same timeframe as when Iraq was trading oil for euros. Whether this is a coincidence or related, the American people may never know.
http://www.newswithviews.com/ pub…ommentary31.htmAnyone see any similarites between Iraq and Iran? What better way to not only enforce Petrodollar Hegemony but steal the oil as well. Wake up people, the criminals in charge need to be brought to justice.



o sh*t


I’m about ready to stop accepting the dollar too, and i live in the US.


The first sanction against U.S.? More to come…


nice one, idiotic kentucky boy – WHERE are we gonna get 150K troops?


This is the beginning of the end of the US economy. The dollar’s strength is in part due to the fact that it is considered a safe, stable world currency. That perception of strength and stability rests on the fact that the most precious and valuable natural resource on which the modern world is dependent upon for functioning is traded in US dollars. Part of what raised the ire of the US prior to Gulf War II was that Hussien threatened to move Iraq away from trading it’s oil in dollars and instead flirted with a move to Euros. Now that Iran has essentially done what Iraq planned to do . . . . well, this is SERIOUS. This has more potential impact than any slam-and-crash terrorist plot against any combination of buildings on US soil. This strikes DIRECTLY at the strength of the US economy and shines a bright light on the precariousness of this house of cards we all live in with our reliance on the US dollar. The Chinese have been struggling to free themselves of our underperforming currency for quite awhile. The next few months will be interesting to say the least. The US dollar just suffered a MAJOR blow. If your focus tends to be parochial and more focused on the battle of personalities (Bush, Cheney, Ahmedimijan, etc.) , this will simply zoom right over your heads. Continue the rah, rah, USA good, Muslim towelheads bad mantra and you’ll feel just fine. Ignorance is bliss, for you. The reality is that the undercurrent of global financial security just experienced a massive shift as a result of this news. The powers that be in Washington will craftily do everything they can starting now to frame this as a declaration of war. Be prepared and be afraid.


This is a good leading indicator of Cheney/Rumsfeld stepping up the war rhetoric against the “terrorist” state of Iran, making every effort to prop up the petro-dollar as long as possible.
Saddam’s conversion completion from $ to Euro following his rejection of Rumsfeld’s negotiations for a pipeline from Iraq to Jordan resulted in a rain of bombs on Baghdad.
See
http://socrates.berkeley.edu/~pd…scott/ iraq.html
for an author on the oil/$ lead-up.
Chavez’s sales in Euros also guarantees his branding as terrorist; historically, simply being a murderous thug was not a problem, as long as Exxon and Citi National made money.
The slide of the dollar against all non-tied currencies is projected by mainstream analysts to continue for 2-3 years. It is now being blamed on sub-prime mortgages and deflected away from the radical inflationary deficit “printing” by the Fed to fund war contractors and administration cronies. The dropping of reporting of M3 was purportedly because of its increasing irrelevance – true in several senses.
One exacerbating effect is the flight of real estate investment money overseas to reap the earnings differential due solely to the exchange aspect of the trades. Check the buzz in investment circles: it’s all about foreign ETFs these days. I and a lot of others have put all our liquid investment in ETFs and the Euro FXE.The Dollar is going the way of the Peso and Reichsmark; once the military protection game has worn thin for OPEC countries, and already has for Venezuela and Iran, the retreat will only be limited at all by countries with large dollar holdings that want to avoid a complete collapse. The new trend is for large dollar holding treasuries like Abu Dhabi to trade their dollars for real assets in the US, to hold until the dollar bottoms.
Good luck everyone.


Kentucky Idiot: How long do you think it would take China, Saudi Arabia, UAE,Canada, and even freaking Mexico to say “pay us back now!” if any moron went along with your “idea”? That would help. You rape-ublicans are so god damn ignorant it is amazing you can operate a PC. (I am assuming it’s not your mommy who’s dictating for you.)


Where do I sign up to go kick there asses?


Yo Redneck. You know where to sign up. All talk, no action. I dare you.


People who stay abreast of what is happening knew this was coming. It is because of Bush’s constant belicose talk against Iran. There was bound to be a backlash. Now Bush is going to experience the blowback from his inept and corrupt administration and their policies; and as usual, the regular people suffer.


the dollar used by the Federal Reserve was dead long ago. it is not The People’s money or US money. Gold and silver coin is America’s money. DIE FEDERAL RESERVE DOLLAR DIE. and take your banksters with you.


Kentuck and RedNecker, you both are nothing but stupid idiots. It is because of people like you who are causing the demise of the United States of America!Rather than demanding more from your government to protect its solvency, you would rather to continue the falsehood of conservatism.My message to both of you is to pull you heads out of your asses and fight for your Democracy.

Haven’t you been listening to the news lately? Our military is broken you dumbfuckers! The only way we can move forward from the downward spiral is to:
1) Impeach George & Dick
2) Declare a moratorium on the existence of this administration
3) Restructure our campaign rules to rid the need of raising huge amounts of money to get elected into office
4) Clean up our electronic voting machines so that every vote is counted
5) Do away with for profit lobbyists
6) Enforce stiffer penalties on corporations who cook their books
7) Make corporations live up to their promises to their employees, such as pensions, etc.
Make coporations pay their fair share in taxes, if not suspend their rights to opeerate businesses in the US.
9) Rescind NAFTA, CAFTA and all other trade agreements that surpress wages and therefore keep people in poverty
10) If countries that do not provide living wages and protect human rights, we should not enter into trade agreements with them

Those are just a few ideas that will make not only our country a better place to live in, but in fact, would ensure that we, the American People will help to ensure that other countries who want to do business with the US to provide prosperity to their citizery too!



Buh-bye Redneck…we’ll miss you! Hugs-n-kisses (not in a gay way of course, we know there is no such thing as a gay republican). Don’t forget to write.


Will China be next? They may dump the dollar too.


When the Fed lowers interest rates, the dollar falls more!


Will any country accept the dollar?


We wouldnt be in the mess if it werent for the oh so high and mighty conservatives who are too good to talk to their enemies.This administrations Idea of diplomacy puts Al Capone to shame… and we wonder why half the world is scrambling for nukes.Conservatives and their antisocial, unilateral policies are the reason we have absolutely no bargaining leverage with our opponents outside of a bombing campaign…. much like terrorists.



The euro is slowly becoming the preferred currency around the world as countries such as China slowly begin to get rid of their dollar investments.


LOL sanctions against the US


I cannot find this story anywhere in the MSN. You would think it deserves a little mention somewhere.


Wanna buy some greenbacks? Heh heh heh.


VOTE RON PAUL!


jive talkin….great post! Wish I could make it happen now.


Kentucky redneck there’ll be Chinese troops down the west coast within 2 years if your lunatic bush gets his way. And Russia has said that an attack on Iran is an attack on Russia. Guess you’ll be happy when Kentucky is a smoking hole in the ground. What goof doesn’t realize that the money is the Rothschild counterfeit distributed by the FED and has nothing to do with americans other than enslave them. The pentagon is simply the rothschild’s enforcement arm. DUH!


that`s it then…WWWIII coming up…


Ron Paul for President 2008 is America’s only way out of the mess we currently find ourselves in.


Here we come, “America the Defunct, Land of Foreclosures and Bankruptcy”. Derivative hell ahead.


OMG jive talkin! you’re a commie and … uh.. socialist! how DARE you demand the uber rich stop fucking us over!!??Well, Iran just told BushCo “fuck you, I’m not afraid of you”.. now let’s see what faux cowboy does.


lol


To ‘patriotic kentucky man” and ‘redneck, redstate”: Sorry , boys, but the U.S. dollar is going the way of the Confederate money you’re still holding in hopes that the South will rise again.


Add this to the “best interests of the investors” greed of the foreclosure crisis and what have you got?


hey patriotic kentucky man. Guess what pal it isn’t your money it’s the Federal Reserve’s money. The quicker you realize that the problem with the dollar is here at home and not in the Middle East the quicker you get your head out of your ass. The problem is with banks not Iran.And what the fuck kind of problem do you have with a sovereign nation deciding to sell it’s wares in whatever fucking currency they choose? You do like freedom right? Or do you just like freedom for some?Where do you think the money would come from to pay for those bombs, missiles, and 150,000 soldiers? It’s somehow OK with you to borrow that 500 billion from China again? Further devaluing our currency.

A real patriot. You’re an idiot buddy.



I wish that I could say that I’m surprised. If the Fed goes ahead with another 50 basis point cut next week, that will only further devalue the dollar. I have a sick feeling that all of this is planned in order to clear the way for the NAU and the Amero. ………………………………………….. ………………
I support Ron Paul and his positions, but I also fear that if elected, he woul be in much the position that Yeltzin faced in Russia. Put all of those spooks and military industrial complex guys out of work and you wind up with a new version of the Russian mafia.


They had better reinstate federal usery laws on banks and credit card companies. Along with fee limits…Or else our economy is gonna depress a lot faster than the fed wants to see.Somebody has to reign in corporate greed…with the dollar slipping stagnant wages, illegal immigration and deportation of jobs….

we cant take no more…

Its more than young Americans are going to be able to bear… call off the dogs! They (profit at all costs people at the top..aka profiteers) are killing us.



Holy crap. This is absolutely gigantic. Interestingly, it seems like they deliberately waited until the one day that all worldwide currency are closed to release this information. This leads me to wonder if they are trying to buy themselves a little buffer time in which to dump some of the reserve they hold in dollars. At any rate, this probably does signal the beginning of the end for the dollar. The currency markets are going to be a nightmare over the next few days, and Venezuela is likely to follow closely behind in dropping the dollar. At any rate, if we want to keep the next few years’ recession from turning into a full-blown depression, the next president that we elect HAS to have a plan to convert the US back into an export-based economy. Go to http://www.ballot-proof.com and look at who is most likely to do this…namely, we need someone to greatly reform NAFTA, ramp up investments in alternative energy R&D (so that we’ll have something worth exporting), and start a WPA-style program for repairing infrastructure to keep unemployment numbers as low as possible. We need to start playing a very different game.


((QUOTE))nice one, idiotic kentucky boy – WHERE are we gonna get 150K troops?
snotsdale | Email | Homepage | 12.08.07 – 12:27 pm((QUOTE))
Perhaps we can start by reinstating the draft an dip shit Kentucky hillbilly and his brothers, sons and cousins can go first…then we’ll go after all the young repiglicans hiding out in college with their bullshit ‘CULTure War’ and no more ‘Dick Cheney deferments’ or getting your rich Senator daddy to hide you out in some ‘Champagne Unit’ in the National Guard like George Bush did. See, war is all good with dumb fucktards like the Kentucky chickenhawk and his butt buddy Redstate Dickhead as long as they don’t have to go.


Everyone knows the US dollar is as worthless as TP.The only reason other countries don’t run from it is that they don’t want to further devalue their central bank holdings. However….as soon as the first country dumps dollars in a meaningful way, others will panic, trying to “get out” before they lose everything.In the long run that’s a good thing for the world. It will hurt but at least a bankrupt Pentagon can’t spend millions sending cowards to drop bombs on women and children from 35,000 feet. The dollar is the Achilles heel of the war criminals and architects of torture. The best way to dethrone Bush, defund torture and crimes against humanity is to dump dollars.



I think I can gaurantee that idiotic kentucky boy won’t be invading anything other than the fridge during commercials. Real patriotic when he’s daydreaming about fighting the ‘terrists’.


I guess corporate bigwigs that Bush has supported through the years had better figure out how to open up their tower office windows. It looks like it’s going to be raining bodies again, though not only in NYC this time. On the upside, I guess there will be more employment for the refuse workers who’ll have to clean them up.


bravo… one down and a few more to go. the dollar is for all practical purposes WORTHLESS!!!! thanks to bush economics.


Well, now we know why Bush was lying about Iran having WMD’s!


Actually, the people “at the top” aren’t going to jump from anything.. The families behind the Federal Bank are also behind the International Banks.. they are the ones that will do the money exchanging (for a fee), they won’t be losing much. In fact, since they PRINT the money (and as much as they like), they will buy up all the “debt” for pennies on the dollar and then “own” the country, again..This isn’t the first time the Fed did this.. Watch zeitgeist at zeitgeistmovie.com and learn something about who’s pulling the strings.No, the jumpers are just some of those that THINK they have power and control. I suspect they jump because they realize they are just pathetic little pawns who played a rig game and lost everything.



Iraq did the same thing before we bombed hell out of them.


FAKE Rawstory report.. Get the real news. This will not be posted.. Oh well, It will be elsewhere.. Rawshite gets no google revenues..http://www.downstreamtoday.com/ N…CookieSupport=1Its a battle of currency on Monday.. Bernanke & Wallstreet wins.. Tuesday.. another story. Short term gains will bite you like a sleeping dog.. Buy, buy and buy so we can sell you short…



Mike Huckabee wants total independence from any energy source outside the US by the end of his second term. Check out his plan for getting us out of the mess our country is in:
http://www.mikehuckabee.com/?Fus…iew& Issue_id=21


Oh yeah fools…the next will be the rest of the middle east and then China!….yup…it’s comin’ down the pike real fast…keep the guns greased, we’re all in this together..just keep the fuck out of my yard. Especially you assholes who voted for Bush twice……oh yeah, and Blackwater.


Thanks again to George the second. Expensive oil, worthless dollars, uncontrolled immigration of cheap labor, exploding deficits and debt, war without end. Great JOB KING GEORGE.


mike hickabee is a joke.


$930,000,000,000,000 public debt, add another two trillions for Iraq war, what you have is paper, worthless paper, can’t use it anywhere other than where it is getting printed, and morons take it as currency.So far at least fourteen countries have been divesting ie getting rid of dollars, it has been going on for the last year.This old news is to step up the hate towards Iran, well hate as much as you wish, but no war, cuz wars need money, and money is not what dollar is.

Why no mention of Israel wanting its ‘Aid’ paid in Euros?



“This old news is to step up the hate towards Iran…”Well only fools will hate a country because the yellow media told them to.This country deserves to go third world for all the violence over the past 100 plus years anyway. Good riddance.



Kentucky and Redneck = 2 pieces of shit.


It has to do with one world, one currency and the last government. For Europe to be strong and fight the antichrist our influence has to be weak. The antichrist is suppose to invade Europe during a time with one worls currency remember? USA is not even mention during that time, know why? because of this war with Irak is bleeding our resources when the real stuff comes we will have no bullets left.


I can’t decide if the Bush admin. would be ok with the dollar/economy going down the toilet. It would open the door to all those Milton Friedman neo-cons to buy up and privatize everything at rock bottom prices. And they could pay off their massive debts to countries like China in worthless dollars. On the other hand, maybe the neo-cons are terrified to find the world standing up to them for a change & they will feel a need to start dropping bombs. I don’t think I can take another year of this…..


When the Federal Reserve drops the discount window on Monday, the dollar will drop. Don’t let the Bush admin tell you its about Iran or the oil hedge funds, explaining a false speculation. Its all about the middle East dropping the dollar peg and a shit load of dollars will shift back to the US = Hyperinflation.The fed fucked up by removing the M3 report and printing money to create liquidity.When the de-peg happens, the Fed plan goes out the window, no discount for them..

Expect a new false flag to divert your attention.

The laugh, the dumb fucks pulling the strings are not aware that they are being watched, V-taped and recorded. Don’t grin about that special phone you carry. Its bugged as well. Create a problem in the USA, the action is your arrest. This time your caught red handed.. We just await for your plan to be staged..

NOT A LAUGHING MATTER IF YOUR YOUR READING THIS.

Your game is up… Four years of monitoring will not grant you ammunity.



If this is as big as everyone here is saying wouldn’t this constitute an attack on the US and it’s interests in a major way? If the greenbacks end up worthless what’s your paycheck going to buy? And all you people who say buy gold and silver do you expect me to pay for my gasoline in gold coins? ROFL I’m suppose to pay for my big mac with a silver money? LOL GET REAL!


@ snotsdale:Did you forget about the 730 bases (or more) in 130 countries? The military is ‘about broken’ is just another government lie.One Pentagon spokesman claimed a million in the military community … Chalmers Johnson in Feb globalresearch article thinks over 2 million.

Gary: the Israel wants aid paid in euros is a hoax. I believe it was taken out of context from a snarky comment on Taki’s Top Drawer.



Ron Paul is a red herring. His Libertarian policies would only drive the US into financial and social chaos.The only way out of this mess is to bring all of our assets home (including our troops) and invest in America’s infrastructure and education system, while creating more jobs by rebuilding our manufacturing and R&D base, to make sure all Americans have a job with a living wage. FDR did it once and we can do it again.


You know that feeling you get when you’re sitting in the first car, listening to the clackclackclack of the ratchet as you go up to that first big drop, feeling gravity pulling your guts down, and then you get to the top, and there’s that moment when you’re just starting to see over the drop, and the horizon in the distance? It feels like that.
In other words:
And so it begins.


Canada is still the number one exporter of petroleum to the United States.
http://www.eia.doe.gov/pub/oil_g…ent/ import.html


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