Becuase Everything Else Sucks

Iran Switches From USD to Euros

By Manila Ryce
Published Monday, December 10th, 2007, 4:33 am
Filed under: World: Asia, Economic, Terrorism, World Issues, US Politics

Iranian Oil Minister Gholam Hossein Nozari announced on Saturday that Iran has completely stopped carrying out oil transactions in US dollars. Iran is the fourth-largest oil exporter in the world. “At the moment selling oil in dollars has been completely halted, in line with the policy of selling crude in non-dollar currencies,” Nozari said. “The dollar is an unreliable currency, considering its devaluation and the oil exporters’ losses.” The decline of the US dollar has affected the revenues of OPEC members in the past year, and Iran has urged the organization to collectively price oil in other currencies.

Iran is gambling its very existence by trading in Euros. One of the major reasons Saddam was taken out is because he dropped the dollar. The invasion of Iraq sent a very clear message to the world that the United States is willing to destroy a country in order to prevent this exact thing from happening. And while these mob tactics worked to intimidate Iran initially, the subsequent bumble of the occupation has called our true ability into question. Iran is betting on one of three things: That we’re spread too thin militarily to follow through on our threat of World War III, that there is no political will for war after the NIE came out, or thirdly, Iran may actually be willing to sacrifice itself in a war which will spell the end for the American empire. Your thoughts?

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7 Responses to “Iran Switches From USD to Euros”

  1. WoW! I wonder what our response to a ‘free-market’ decision will be.
    Let the markets decide what currency you use or what services you will buy…Yeah right!

    Corporate and Federal Reserve welfare are the norm.

    Nando
    12/10/07 at 7:29 am

  2. I think this is both an attempt to convince other nations to follow in dropping the dollar, and to build up opposition to a potential war in the international community. Now they can say “they only want to bomb us for economic reasons” pointing to the NIE and this. Of course when it comes to war we forget that there is an international community

    Alex
    12/10/07 at 8:01 am

  3. Watch out for more crumbling of our economy as poorer countries who used to buy dollars, our largest export, now buy Euros, no longer supplying the US with imports of goods we never had to pay for, just supply dollars for oil.

    Now, the European Union has that privilege, goods for Euros in order to buy oil.

    It’s why Saudi Arabia’s support for the dollar to buy oil has been so important, why our government counts them as friend even though most of the alleged 911 hijackers were arab.

    It’s why Bush has been pushing for war with Iran, to save our economy.

    Or maybe an economist has another take on this.

    Toni Marshall
    12/10/07 at 9:39 am

  4. Well, after we took out Saddam, we quickly and quietly switched the oil dollars back from Euros to US dollars. We were willing to blow up their country and kill a million Iraqis for that. I don’t think it is a coincidence that Iran announced they are switching to Euros following the release of the NIE. I for one am not convinced Bush and Cheney are not crazy enough to still go after Iran as well. I still think they will. And it won’t be for whatever stories they tell us.
    http://tpzoo.wordpress.com/2007/12/08/iran-drops-dollar-from-oil-deals-report/

    nwmuse
    12/10/07 at 9:44 am

  5. I think Iran is being intelligent. They are encouraging other nations to take a stand against our inept government and forcing us to change our ways. If the Iranians lose their country in a war against us, it will be worth it if they are able to change the way our government operates and force us to look for alternative fuel.

    Bumblebee
    12/10/07 at 2:24 pm

  6. Interesting timing indeed on Iran’s part. Now Washington’s standing in front of the world with their pants down; two weeks in a row.

    Sam
    12/10/07 at 6:21 pm

  7. With the Zionists rattling their sabers even more after the NIE report, I think it’s also likely that Israel will force Iran or Iranian militants into a confrontation (like they did with Hezbollah) to justify a full on war. Then the US will be able to fight Iran by proxy under the guise of “defending” Israel, to keep it from being “wiped off the map”. It’s the safest option politically for the American hawks, and the Israelis would love nothing more than to do the dirty work on their own terms.

    Manila Ryce
    12/11/07 at 4:07 am

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