Yes. It sounds reasonable though I don't have enough background to reaslly endorse it. Part of why I agree with John that yes, it's pretty scary
On Thu, 10 Mar 2005 22:31:27 -0400, Andrew Grosset <[EMAIL PROTECTED]> wrote: > There is an interesting opinion here about the demise of the American dollar > (from :http://www.energybulletin.net/4634.html ) > > [quote] > Iran will move a step closer to establishing its much-publicized oil exchange > next week, when the Oil Ministry and the Ministry of Economic Affairs and > Finance are set to sign a memorandum of understanding (MoU), which will set > the ground for the high-profile initiative. Hossein Talebi, the National > Iranian Oil Company's director for information technology affairs, told Fars > news agency that the project would enter the executive phase immediately > after the MoU is signed. The official further said that petrochemicals, crude > oil and oil and gas products will be traded at the petroleum exchange. "The > oil exchange would strive to make Iran the main hub for oil deals in the > region", he said, adding that most deals will be conducted through the > Internet ... Iran announced in September its petroleum exchange will become > operational by March 2006 ... > > ..........As William Clark argues in his forthcoming book Petrodollar Warfare > (New Society, summer 2005), the denomination of global oil sales in US > dollars has kept the American dollar artificially strong throughout the > period from 1974 to present, enabling Washington to run up huge > foreign-funded government debt and trade deficits. Tehran's action, whether > or not deliberately calculated to do so, could cause a dollar crash. Iraq was > the first nation to announce intentions to sell oil for euros instead of > dollars (in November 2000), and one of the first acts of the provisional > government put in place by in invading US forces was to return oil sales to > the dollar standard.... > > ......One of the Federal Reserve's nightmares may begin to unfold in 2005 or > 2006, when it appears international buyers will have a choice of buying a > barrel of oil for $50 dollars on the NYMEX and IPEor purchase a barrel of oil > for 37 to 40 euros via the Iranian Bourse ... A successful Iranian bourse > would solidify the petroeuro as an alternative oil-transaction currency, and > thereby end the petrodollar's hegemonic status as the monopoly oil currency > ... > > [/quote] > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Find out how CFTicket can increase your company's customer support efficiency by 100% http://www.houseoffusion.com/banners/view.cfm?bannerid=49 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:150195 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
